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July 5, 1991 | JANE APPLEGATE
Approaching age 65 and concerned for their family's future, Florence and Hank Billing began figuring out how to pass along their family business and personal assets to their five children. Of the five--four daughters and one son--only their son, Kurt, was interested in running the family's two Southampton, N.Y., clothing stores. Kurt, who was selling software to retail stores in Seattle, solved half the problem by opting to return home. In May, he bought Billing's Lingerie on Main Street.
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BUSINESS
July 5, 1991 | JANE APPLEGATE
Approaching age 65 and concerned for their family's future, Florence and Hank Billing began figuring out how to pass along their family business and personal assets to their five children. Of the five--four daughters and one son--only their son, Kurt, was interested in running the family's two Southampton, N.Y., clothing stores. Kurt, who was selling software to retail stores in Seattle, solved half the problem by opting to return home. In May, he bought Billing's Lingerie on Main Street.
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