Curb emotions: Plan ahead on business transfers

STILL GOING STRONG: From left, Colleen A. Keane, company manager at Anchor Travel Agency in Pawtucket; Nancy McAdams, owner and president; and Beverly J. Costello, travel consultant. Keane and ­McAdams have not completed a valuation and succession plan due to the emotion involved. / PBN FILE PHOTO/MICHAEL SALERNO
STILL GOING STRONG: From left, Colleen A. Keane, company manager at Anchor Travel Agency in Pawtucket; Nancy McAdams, owner and president; and Beverly J. Costello, travel consultant. Keane and ­McAdams have not completed a valuation and succession plan due to the emotion involved. / PBN FILE PHOTO/MICHAEL SALERNO
Eighty-year-old Nancy McAdams is still involved with the day-to-day operations of Anchor Travel Agency, in Pawtucket, the business she opened 40 years ago. Her daughter, company manager Colleen A. Keane, said the pair have attempted to discuss how and when to handle the transfer of the company when McAdams retires “three or four times” over…
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