Attorney Michael Baker provides insight on business successsion:
“Privately held businesses often have succession as their main stumbling block”, said Michael Baker, an estate and business planning lawyer in Boston… “The big unknown here is when and who will be able to take over, especially given it could be two or more decades in the future. Signing the university up as the caretaker answers that question. This allows him some comfort in who he is selecting” Baker said.
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