The use of a commercial lease to rip off minority owners in a closely held business
The Informed Board Podcast | CEO Succession Planning on a Clear Day
Succession Planning to Safeguard Your Law Firm’s Future: On Record PR
Law Brief ®: Alan Gaynor and Richard Schoenstein Explore Business Divorce
Episode 8: Minority Oppression in the LLC: Interview With Professor Douglas Moll
As we begin 2026, we find ourselves right in the middle of “Peak 65,” the period of time between 2024 and 2027 when approximately 4.1 million Americans will turn 65 each year....more
In this episode of Just Compensation, Andrew E. Graw, Taryn E. Cannataro, and Zachary Bocian discuss ESOPs, employee stock ownership plans. The conversation covers the tax and non-tax benefits of ESOPs, and how ESOPs can be...more
For both new and seasoned business owners, establishing a comprehensive estate plan is not just prudent—it’s essential. A well-structured estate plan ensures the continuity of your business, minimizes legal complications,...more
Balancing numbers and relationships when business and family intersect. Family-owned businesses occupy a unique and vital space in the economy. They combine entrepreneurial drive with deep personal commitment and long-term...more
Selling a closely held business is a major milestone. Whether the goal is retirement, estate planning or strategic growth, early preparation can help business owners protect value, avoid delays and position the company for a...more
In the months preceding the general election in 2024, the owners of many closely held businesses who had not yet given much thought to the disposition of their future estates, including their businesses, decided they should...more
In Connelly vs. United States (602 U.S. 257, June 6, 2024), the Supreme Court unanimously ruled that in a redemption of a deceased shareholder’s shares of stock, the corporation’s fair market value should include the proceeds...more
Legacy management is an age-old business that has not changed in decades. We propose moving away from an episodic, transactional delivery model and removing siloes between a family’s advisors – allowing for a proactive,...more
In a recent video, Jeff Faulkner, co-founder of the International Succession Planning Association, spoke about the importance of succession planning for business owners. Faulkner emphasized that succession planning is not...more
Jeff Faulkner, co-founder of the International Succession Planning Association, speaks about the challenges that arise when transferring ownership of a business to the next generation. In the video, he points out the...more
Succession planning for senior management should be an annual process, managed by the board. Our panel discusses best practices, including how to develop multiple and next-level candidates, how to keep internal candidates...more
Many of us have encountered variations of the following scenario: a parent owns and operates a business; one or more of their children are employed in the business; as the children mature and become more experienced and...more
Combining family issues with business considerations is enough to stress even the most thoughtful and successful business owner. The good news is that there are ways to reduce the stress in family business succession. The...more
“I love you, but you are not serious people.” This is the curse that Logan Roy, the founder and business titan of Waystar RoyCo, intones to his three stunned children during a poignant family moment. The three siblings...more
In this episode of On Record PR, Jennifer Simpson Carr goes on record with Patrick Cusick, Director of Law Firm Services at Armanino LLP, to discuss important considerations for law firms when creating a sustainable...more
Thoughtful succession planning can pave the way for a smooth transition and a thriving future for a company and its stakeholders. Here are a few techniques that business owners should consider....more
Many successful business owners devote their lives to establishing, building, and maintaining a successful business. However, few successful business owners have properly considered what will happen after they are gone, and...more
Every business should have documentation that confirms its ownership, management, and governance structures. If the business has more than one owner, the documentation should address transfers of ownership interests and...more
Over the past three seasons, fans of the hit HBO series Succession have had an entrée into the fabulous lifestyles enjoyed by members of the Roy family and a front-row seat from which to observe the myriad succession...more
One of the most difficult periods in the lifecycle of a closely-held company is the period following the death of an owner. Apart from having to fill whatever business responsibilities the deceased owner left behind, the...more
Sibling Rivalry- You have probably encountered family-owned corporations in which the founder’s offspring are involved in the business to varying degrees. They may even own some equity, typically having received such equity...more
One of the perceived benefits of closely held corporations is their ability to keep secrets. Indeed, closely held corporations can legally hide a great deal of information. Family businesses are especially likely to keep...more
Business succession planning for founders of privately held business enterprises can take many paths. One of the most common exit plans is ownership transfers to management or key employees and it is easy to see why:...more
Closely-held businesses come in all shapes and sizes. Some owners own 100% of their businesses. Some have partners. Some have children in the business. Some do not. A common question that a client asks the business and...more
Like humans, businesses have a life cycle. And, just like us, major focus is put on the beginning and middle stages of the life cycle, with many people putting off late stage planning until it is too late. Clients often put...more