Family Businesses

News & Analysis as of

Court Affirms Holding That A Trust Owns Stock That Was Issued To The Trustee In His Individual Capacity

In Dutcher v. Dutcher-Phipps Crane & Rigging, Inc., a trust owned twenty percent of a family limited partnership that in turn owned a family business. No. 08-15-00202-CV, 2016 Tex. App. LEXIS 3809 (Tex. App.—El Paso 2016, no...more

Estate of Clara M. Morrissette Secures Victory in Groundbreaking Estate Tax Case

In a case of first impression, the United States Tax Court ruled in favor of a taxpayer whose estate planning focused on the preservation and succession of a 70-year-old family-owned business. In Estate of Clara M....more

2016 NACD Private Company Governance Survey Results

The National Association of Corporate Directors (NACD) recently released its 2015-2016 NACD Private Company Governance Survey. In an article in the March 2016 edition of “Private Company Director” – a monthly publication...more

Ten Tips for Preventing Feuds from Wrecking Your Family Business

Passing along a family business can be tricky business. There are a variety of legal, tax, and emotional issues that can complicate the process. A well thought out plan made far in advance of the events requiring the plan is...more

Preserving Your Family Business (or Sale Proceeds) for Generations

As promised, below is a follow-up to my February 29th post. There, I discussed estate tax planning. Below, I want to introduce generation skipping tax planning, using some similar tools. As of 2016, each person has a...more

The Hidden Tax Trap in Your Family Business—and How to Avoid It.

You have a business. You have a family. You have a family business. And frequently, the family makes decisions about the business. Sometimes, those decisions are not formalized....more

Fold ‘Em or All-In? A Dealer’s Guide to Succession Planning

Bet, fold, bluff, raise, and all-in. These are all common words when playing a game of poker, or as some call it, Texas Hold’em. Would you believe that just as with playing poker, these words could also be used when talking...more

Quebec 2016-2017 Budget: Continued Fiscal Discipline

On March 17, 2016, the Quebec government (Government) unveiled the 2016-2017 budget (Budget). The Government confirmed that it balanced the books for 2015–16 and anticipates maintaining a balanced budget for 2016–17. The...more

Estate Planning For Real Property

Often the most difficult asset for which to plan in an estate plan is non-commercial real property such as a family farm, a hunting cabin or other recreational property. This is especially true when the property makes up a...more

Life Insurance's Role in Family Business Planning

Family business planning is best served by having a knowledgeable advisory team, and a good team includes an expert on insurance. We found an article discussing the role of life insurance in family business planning in a...more

Jarmoc and Jarmoc: A Modern-day Bleak House?

A family feud recently unfolded in the Connecticut probate court, a typical venue for family feuds to play out after the death of a successful business owner. That is the case especially when a contested will is produced...more

Court Of Chancery Limits Attorney Charging Lien

An “attorney charging lien” allows an attorney to recover compensation for his services from a fund recovered with his assistance....more

Ten Tips for a Successful Business Succession Plan

Passing along a family business can be tricky business. There are a variety of legal, tax, and emotional issues that can complicate the process. A well thought out plan made far in advance of the events requiring the plan is...more

Effectively Utilize Your Combined Federal Gift and Estate Tax Exemption

As of 2016, each person has an aggregate $5.45 million exemption from the federal gift and estate taxes. This exemption can be used either during lifetime or at death (or both, if not all of it is used for lifetime gifts)....more

Business Succesion Planning - March 2016

The transition of a family owned or closely-held business is an important event for families. In a prior article, we covered the issues that a business owner faces in general in preparing a succession plan. This article will...more

Don’t Put Off Succession Planning for the Family Farm

With the fall harvest complete for most farmers, now is a good time to give some thought to an estate plan and farm succession plan. As farmers know, maintaining a profitable farm operation is difficult. It can become a...more

Who Owns the Family Name?

For good reasons family businesses often use a family name in their business names. The use of a family name has a number of benefits, from quickly identifying the familial association with the business to honoring the legacy...more

Passing on the Business to the Next Generation: Not for Everyone

A recent article in The Economist (“The Reluctant Heir”) addressed the challenges in getting the next generation ready to take over the family business. These challenges are nothing new in the family business community. In...more

Before Your Han Solo Dies, Have a Business Estate Plan

In a Galaxy, Far Far Away, Han Solo ran a smuggling business with his good buddy Chewbacca in his ship, The Millennium Falcon. He would occasionally have a crew but they would always end up dying (I wouldn’t want to work for...more

Business Succession Planning - February 2016

The transition of a family owned or closely-held business is a significant undertaking even with the best laid plan. This article will outline the issues that should be considered by the business owner in transitioning a...more

Recap: How our Business Survived Three Generations of Family Leadership and Ownership

Two generations of the Hemingway family recently shared their experiences with partnering for growth and developing the next generation. On January 20, 2016, at Davis Wright Tremaine’s Seattle Office, Jon Hemingway, Chairman...more

Who Runs Your Business and Finances if You Can’t?

You are the senior executive of a successful family business. If you experience a stroke, or a heart attack, or are in a serious accident, such that you are in a coma, for example, or otherwise unable to act on your own...more

Parent, Child and Participation vs. Ownership: A Family Business Dilemma

Here’s a common scenario: Parents successfully develop a business. Then their children get involved in the business – but maybe not all of the children. Then comes the challenge: One of the offspring works at the business and...more

The Results Are In!

Each year, our colleagues at the Pacific Family Business Institute (PFBI) conduct a survey of approximately two hundred family business leaders in the Pacific Northwest. They ask about topics such as growth, succession...more

Business Succession Planning - January 2016

The transition of a family owned or closely-held business involves a variety of legal and tax issues. This goals of this process, however, should be focused on issues that are just as important – if not more important – than...more

137 Results
|
View per page
Page: of 6
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×