Planning For The Exit – What’s Your Exit Strategy?
We have all watched as the Market Basket family and business dispute has played out in the media – customers protesting, employees on strike and secret family meetings behind closed doors. What began as a small family grocery...more
Startup companies have unique challenges, but succession planning is one area that both startups and well-established businesses should likewise be considering. No matter the stage of your business, the time to start thinking...more
You have worked incredibly hard and sacrificed a lot to build your business. No doubt that everyday concerns relating to your business take priority. However, failing to plan for the future can derail all that you have worked...more
The ideal individual trustee has a wide variety of real world experience and judgment that can only be acquired over decades. Thus, many trustees are middle-aged or older at the start of their tenure. While some people remain...more
Cox Smith, Padgett Stratemann, and Navidar Group hosted an interactive discussion on the current climate for buying and selling businesses, preparations for you and your business, tax strategies, and the legal process behind...more
The transition of a family owned business involves a variety of legal and tax issues. While most business owners plan to avoid taxes and develop creditor protection strategies, business owners also should be focused on...more
Back in January, I wrote that “few things are more important to a company’s success than identifying, hiring and retaining an effective CEO,” and yet many boards of directors pay scant attention to succession planning. (See...more
Every profession is facing the impact of baby boomers retiring – and trial lawyers are certainly no exception. At the PLUS Conference in April 2014, I was delighted to be part of a panel discussing a variety of topics...more
In Thompson v. Real Estate Mortgage Network, No. 12-3228 (3d. Cir. Apr. 3, 2014), the Third Circuit Court of Appeals recently found a successor employer potentially responsible for Fair Labor Standards Act (FLSA) violations...more
In reading about Ron Francis’ promotion to general manager of the Carolina Hurricanes, one paragraph stood out to me...
...Many business owners think succession planning is all financial, but there are significant...more
In March, the Department of Treasury issued the administration's 2015 fiscal year revenue proposals for the federal government. Those proposals are described in General Explanations of the Administration's Fiscal Year 2015...more
The Third Circuit Court of Appeals, which covers Pennsylvania, New Jersey, Delaware, and the U.S. Virgin Islands, recently became the third appellate court to adopt the federal common law standard for successor liability in a...more
Much has been written about the importance of succession planning as a pillar of a firm’s culture and its ability to retain talent. Much has also been written about the importance to investors about cultivating long-term...more
As in any business acquisition, purchasers in the long term care industry can encounter potential liability due to employment claims, seller violations of representations and warranties under the purchase agreement, tort...more
When transferring fixed-term lease agreements by singular succession in an asset deal, parties should ensure the transfer complies with the written form requirement.
A recent judgment1 from the German Federal Supreme...more
"Hello Jake, I hate to tell you this but we can't ship your order this week. One of our key suppliers is holding us up."
Originally Published in the Grand Rapids Business Journal - February 14, 2014. ...more
The transition of a family owned or closely-held business is an important event for estate planning clients. Historically, the use of trusts has played an important role in business succession planning....more
For most professionals, building their business into a successful enterprise has been their life’s work and is likely their most valuable asset, yet so many fail to plan for its future success and continuation. Most people...more
Today is the anniversary of the birth of one of the most notorious Americans of all-time: Benedict Arnold. His name is synonymous with the word traitor in the United States and in many ways more derogatory....more
Succession planning for eventual transition of a closely-held business is a multidisciplinary practice that involves careful consideration of legal, business, practical, and (often) familial decisions. Early introspection and...more
In This Issue:
- SEC Chair Says Agency Will Continue to Take Cases to Court
- Report Shows 590 Tech Companies Set to Debut IPOs in 2014
- Businesses Concerned Over Senate Efforts to Lower Corporate Taxes
Executives of closely held and family-owned businesses are often so focused on running their businesses that they do not plan for the inevitable — the transition of ownership and/or leadership. It is not a question of “if ”...more
Unexpected events happen in business, just as in all other aspects of life. The death, disability, retirement or “divorce” of business owners can jeopardize a healthy business or send it into a financial tailspin. That’s why...more
I’ve had succession planning on my mind this week following the release of a research poll that indicates that about half of older Americans are delaying retirement plans to work longer. The poll, which was conducted by the...more
In this issue:
- The GRAT: A limited time offer?
- International relations: Estate planning for noncitizens
- Avoid probate to keep your estate private
- Estate Planning Red Flag – You Don’t Have...more
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