News & Analysis as of September 21, 2024

Succession Planning

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Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process. less -

Business Owner’s Guide: Plan Your Exit

Tucker Arensberg, P.C. on 7/29/2024

As America’s largest generation approaches retirement age, we are seeing an influx of business owners looking for an exit ramp. Curiously, we are also seeing business owners of younger generations exiting, or planning to...more

Estate Planning for Your Real Estate Business: Tips to Preserve Value

DarrowEverett LLP on 7/23/2024

Real estate business owners face unique challenges that many business owners in other industries do not experience. The real estate market climbs and falls, contractor fees and material costs rise with inflation, and high...more

[Podcast] Legacy Management – A Different Approach to an Age-Old Business

BakerHostetler on 7/18/2024

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

Navigating Q4 as a Family-Owned Business

Mandelbaum Barrett PC on 11/3/2023

As Q4 is in full swing and as 2023 begins to draw to a close, family-owned businesses find themselves at a crucial juncture, reflecting on the year gone by and strategically planning for the future....more

What the Show Succession Teaches Us About Planning for a Family Business

Amundsen Davis LLC on 9/8/2023

“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

Business Succession Planning Podcast with Janathan Allen

Allen Barron, Inc. on 8/8/2023

Allen Barron's podcast on Business Succession Planning focuses on one of the most important part of protecting an owner, member, partner, shareholder or investor in any company, and yet less than one in four businesses have a...more

Benefits of Succession Planning

Husch Blackwell LLP on 8/7/2023

Succession planning is a critical process for a business owner that can ensure the long-term sustainability and success of a company. Here are just a few of the benefits that can be gained from a well-structured plan....more

Common Business Succession Planning Strategies

Husch Blackwell LLP on 8/7/2023

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

Ensuring the Future: The Importance of Succession Planning for Business Owners

Husch Blackwell LLP on 8/7/2023

Every successful business thrives from careful planning and strategizing. While business owners are primarily concerned with building their business and maximizing their success, it is equally important for them to consider...more

Business Succession Planning

Lathrop GPM on 5/10/2023

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

[Webinar] Family Business Succession – The Good, the Bad and the Lessons Learned - May 23rd, 12:00 pm - 1:00 pm ET

Warner Norcross + Judd on 5/5/2023

Join Warner Norcross + Judd LLP attorneys Charles Ash, Matt Johnson and Laura Morris for a webinar discussion on family business succession and the challenges and opportunities to a successful transition. In this webinar, we...more

Has Your Business Attorney Met Your Estate Planning Attorney?

Ward and Smith, P.A. on 5/1/2023

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

Dividing the Multi-Family Corporation

Rivkin Radler LLP on 9/22/2022

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

Estate Planning for Young Farmers

Ruder Ware on 7/20/2022

Estate planning isn’t just for the elderly. Young farmers can also benefit from taking a quick look at their own estate and succession plans....more

Strategizing Farm Succession

Mitchell, Williams, Selig, Gates & Woodyard,... on 2/23/2022

For various reasons, fewer and fewer family farms are passing on to the next generation. Recent economic, weather and political events have certainly set forth a bumpy road for those interested in long-term planning. ...more

The Estate Planner, January/February 2022

Shumaker, Loop & Kendrick, LLP on 12/30/2021

Business owners: Now’s the time to revisit buy-sell agreements - If you own an interest in a closely held business, a buy-sell agreement should be a critical component of your estate and succession plans. These...more

Continuing the Family Business After Its Founder’s Passing: The Austen Family Legacy

Burns & Levinson LLP on 4/23/2021

The adult children of Jack Austen – Kate, Charlie, and Claire – are gathering a few months after their father’s passing to remember him and discuss what to do with the family business, Oceanic Real Estate, LLC. ...more

Business Succession Planning – Should I Own My Business In A Trust?

Cole Schotz on 3/3/2021

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

Farm Succession Planning: Build Your Succession Planning Team

Ruder Ware on 2/25/2021

Farmers know there’s going to come a day when they’re no longer around to run their farms – and they know they should have plans in place for when that day comes. But farmers often delay planning because it forces them to...more

The Ins and Outs of Business Succession and Estate Planning for Closely-Held Businesses

Levenfeld Pearlstein, LLC on 12/8/2020

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

Transferring Your Family or Closely Held Business: Part 1

Lathrop GPM on 7/2/2020

Transition planning to a family member or other “insider” requires time and forethought to successfully handle both the financial and operational considerations of a family or closely held business. Transitioning ownership...more

Time to Take Advantage of Unique Opportunities for Family Business Succession Planning

Davis Wright Tremaine LLP on 6/3/2020

The current combination of some of the lowest interest rates in history, high federal gift tax exemptions, and lower asset values creates a unique planning opportunity for those family business owners who wish to engage in...more

How to Arrange the Inheritances of Agricultural Farms

Barnea Jaffa Lande & Co. on 5/28/2020

Many landowners in agricultural communities (moshavim) find themselves wondering about the future of the family farm once they have passed. Questions such as how can the estate be bequeathed, to whom, and what the parties who...more

Is Your Family Business Protected in the Event of Your Passing?

Cohen Seglias Pallas Greenhall & Furman PC on 3/16/2020

In the United States, there are about 24 million family businesses, and they account for about 90% of the business tax returns and employ 60% of the American workforce (80 million people). ...more

Estate Planning for Family Farms: What to do with the Land

Ruder Ware on 11/11/2019

While most businesses use real estate, unique planning issues arise for family-farm owners because of the importance of real estate to the farm and family. There are several reasons for that....more

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