News & Analysis as of

Succession Planning Business Ownership

Succession Planning—Bet the Farm on It

by Ward and Smith, P.A. on

Despite recent trends toward consolidation in the agricultural industry, farming generally remains a family affair. According to the United States Department of Agriculture, 97 percent of all farms in the United States are...more

Game Changer? Succession Planning Targeted by IRS

by Lewitt Hackman on

The Department of the Treasury wants to place limitations on valuation discounts that are currently commonly used to reduce asset values in family-owned and closely-held businesses, in an effort to increase tax revenue. The...more

Possible Changes Coming for Valuations of Family Limited Partnerships and Limited Liability Companies

by Barley Snyder on

On Tuesday, the Treasury Department and Internal Revenue Service issued proposed regulations which will make it more difficult to pass wealth to future generations while minimizing estate and gift taxes. For decades families...more

The Next Generation

by Davis Wright Tremaine LLP on

Almost by definition, a family-owned business consists of multiple generations of owners and operators. The different generations may have different visions for the business, but they are usually all aligned on wanting what...more

Hidden Threats to Your Supply Chain

by Varnum LLP on

In 1997, during a period of peak demand, a factory fire at Aisin Seiki Co., one of Toyota's key suppliers, shut down production of P-valves, a small but vital component in Toyota's braking systems. Toyota, champion of...more

Event Recap: Transitioning to Sibling and Cousin Generations

by Davis Wright Tremaine LLP on

Recently, DWT’s Family Business Group sponsored a day-long workshop on Succession Planning featuring Professor Ivan Lansberg from Northwestern University’s Kellogg School of Management.  Professor Lansberg is one of the world...more

Recap: Powell’s Book’s | The Rise of an Empire

“If you give the business to my brother, you will never see your grandchildren again.” When Michael Powell heard that description of a family business succession plan gone wrong from another family in the area, he...more

Don’t Put Off Succession Planning for the Family Farm

by Varnum LLP on

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

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

The Results Are In!

by Davis Wright Tremaine LLP on

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

“Letting Go: As Baby Boomers Sell Their Businesses, Too Many Forget the All-Important Succession Plan.”

by Lane Powell PC on

Building a Business from the ground up takes devotion, energy and commitment to the bigger picture. It’s akin to birthing and raising a baby — albeit a baby that will always need a firm, guiding hand. Finding that next hand —...more

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