Succession Planning

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How Legal Considerations Shape Succession Planning

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

Mitigating Successor Liability in Long Term Care Acquisitions

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

Transfer of Fixed-Term Lease Agreements in a Corporate Acquisition by Way of Asset Deal: Beware the Written Form!

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

Does Your Key Supplier Have A Succession Plan?

"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 Use Of Trusts In Business Succession Planning

INTRODUCTION - 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

Succession Planning for CPAs

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

Benedict Arnold And How To Be A Game-Changer In Compliance

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: No Better Time to Start Than Now

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

Corporate & Tax E-Note - December 2013

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 - States...more

Transition Planning: Key Steps for a Successful Exit From a Closely Held Business

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

Business Succession (a/k/a “Buy-Sell”) Agreements: Plan Ahead for the Unexpected

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

Take Care When Succession Planning To Avoid Age Discrimination Claims

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

"The Estate Planner" – September/October 2013

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

Don’t Wait to Create Your Business Succession Plan

When you inherited the family business on Broadway in Redwood City, it was a mom and pop store with one location. Over the years, you weathered many economic storms and managed to build the business into a multi-location...more

Now is the Time for Business Succession Planning

Toward the end of 2012, many families with wealth tied to a family business were faced with a choice: 1) avail themselves of the expiring $5.12 million estate and gift tax exemption by gifting interests in their family...more

If You Don’t Have a Multi-Generational Estate Plan, Get One Now!

You’ve worked hard to expand the family business in San Mateo, California, after you took over the reins from your father, who decided to retire a few years ago. Now, you’re reaching the point in life when you’re beginning to...more

Why Can’t We Be Friends? Compliance And HR

I have long been an advocate of the compliance function working with the Human Resources (HR) function in any company to help achieve greater compliance under anti-corruption laws such as the Foreign Corrupt Practices Act...more

Succession Planning: A Rare Tale of Family Business Survival

In a recent article in The Globe and Mail, Beverley Smith recounts a rare tale of family business survival in which a Halifax seed company is still operating in the fourth generation....more

CEO Succession Planning Often Lost in the Shuffle

Over the last five years, average tenure of a CEO (based on a survey of public and private companies) shrank from 7.3 years to 4.4 years. Focus on CEO succession is becoming more important to boards. Half the members of...more

Basics Of Stock Redemptions

Closely held corporations often have issues come up about succession planning and also about how to structure transactions in the most tax advantageous way possible. Corporate redemption of a shareholders stock is always...more

Maximizing The Value Of Your Business For Your Heirs

One of the most difficult issues facing the owner of any successful business is how the business, or the personal wealth that it represents, can be preserved for the benefit of his or her family after death. While it is...more

Accounting Firm Mergers

Merger activity among accounting firms has grown significantly of late. Allan D. Koltin, CEO of Koltin Consulting Group, commented that “2012 was another record year for CPA firm M&A. It represents the fifth consecutive year...more

Business Succession Planning

Introduction - 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...more

Estate Planning Insight: Estate Planning After The American Taxpayer Relief Act Of 2012

The American Taxpayer Relief Act of 2012 (ATRA) was signed into law on January 2, 2013, ending twelve years of uncertainty concerning the federal estate, gift and generation-skipping tax rates and exemptions....more

Levick Weekly - March 1, 2013: The Libor Scandal; Prosecutors Have A New Plan

In This Issue: - The Food Safety Modernization Act - The LIBOR Scandal - Prosecutors Have a New Plan - Food Safety Compliance - A Hogan Lovells Roundtable - Lessons from the Oldest CEO Succession Plan on...more

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