As a massive wave of Baby Boomers enters retirement age, the landscape for privately-held businesses may be poised for a seismic shift.

Recent research has shown that more than $10 trillion in boomer-owned business assets will be passed down or sold by 2025. However, according to the 2015 US Family Business Survey conducted by PricewaterhouseCoopers, only about 27% of private businesses have done any exit planning whatsoever. Even fewer have a documented hand-off plan in place, which may leave them vulnerable to events which could force a hurried sale.

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