Business Succession and Legacy with Chip & Jon Vaughan

Wisdom for Wealth. For Life.

In this episode, we join our EVP and chief mission officer, Russ Crosson, and our managing director of business consulting, Jeff Wernick, as they interview Chip and Jon Vaughan of Brand Vaughan Lumber Company. Chip and Jon are father and son business owners who have run a successful lumber business with a 75-year history. They discuss succession and what it means to own a family business, and how Ronald Blue Trust helped them plan for the sale of their company while preserving their family legacy.

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The information in these podcasts is provided for general educational purposes only. It is not intended as specific individual advice. The clients’ experience may not be representative of the experience of other clients and they are also not indicative of future performance or success. Opinions expressed may not be those of Ronald Blue Trust.
Trust and investment management accounts and services offered by Ronald Blue Trust, Inc. are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, nor guaranteed by any bank or bank affiliate, and are subject to investment risk, including possible loss of the principal amount invested.

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1. Business Succession and Legacy with Chip & Jon Vaughan (00:00:00)

2. Brief History of the Business (00:03:00)

3. Communicating Your Calling to Your Children (00:07:48)

4. Next Generation Leadership (00:11:25)

5. The Effect of 2020 and New Strategies (00:15:00)

6. Sell or Not Sell? (00:17:00)

7. Advice to Business Owners on Similar Path (00:27:00)

8. Getting Comfortable with Selling (00:33:30)

9. Telling the Kids about Selling the Business (00:36:00)