HATTIE: (Voiceover) This is a 21st century blacksmith shop. Tell me, what do you do here at Quality Bending?

MATTHEW SEELEY (CEO/President): Well, basically, we fabricate custom fasteners to a particular engineered design.

HATTIE: Russ, Do you really think this guy can run this business?

RUSS SEELEY: Um? I am convinced he can now.

HATTIE: (Voiceover) In 1960, Russ Seely started Quality Bending and Threading, and in 1990, he happily sold the company to his son, Matt.

HATTIE: So some advice to other sons or daughters who are getting into their parents' businesses. Use some outside help?

MATT: Definitely. Definitely. And I would say really, I think one of the things that my dad and I did right, and we didn't even know we were doing it at the time, is the CPA was a longtime contact--in fact, it's my uncle, it's my dad's brother-in-law--and they were longtime partners in the sense that he has always been the CPA for this business.

HATTIE: So he knew the CPA knew this place inside and out.

MATT: Right. And then I chose somebody that I felt comfortable with, so we both felt like we were being represented, and even though we're father and son, there are some issues that become pretty touchy when you're talking about, you know, someone's life's work and a large amount of money and the transferring of that, and I think it's good for each side to have a little independent counsel where the counselors can talk to each other and represent the, you know, misgivings or any of the fears that that party may have.