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June 20, 2019

Uncertainty can follow grief when small business owner dies

AP Business Writer

NEW YORK — When Jim McLaughlin died suddenly from a heart attack at age 64, his family assumed they would have to close his homebuilding business. He'd made no plans for someone to succeed him at McLaughlin Construction, and there was no employee who could step in and take his place.

But as McLaughlin's son-in-law, Chris Carr, started to wind down the Sea Isle City, New Jersey, company five years ago, he realized it was worth keeping open and that he, an accountant, should try to run it.

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