Succession Planning Archives - Page 3 of 3 - Conway Center for Family Business

The Difficult Succession of the First Family’s Business

Blog, Succession Planning / By Conway Center

This is an excerpt from an article Conway Center Co-Founder Bea Wolper wrote for Columbus CEO: Setting aside politics and conflicts, the process of quickly transferring President-elect Trump’s interests to his children will be difficult at best—especially without the “journey of succession” that needs to occur when a family business transitions to the next generation. Successfully […]

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Time to Plan for Those With Potential Taxable Estates

Succession Planning, Taxes, Wealth Transfer / By Conway Center

Keeping You Informed by Edwin Morrow, J.D., LL. M., Director, Wealth Transfer Planning and Tax Strategies, Key Private Bank On August 4, 2016, the IRS and the Treasury Department released proposed regulations that would change the law on how interests in businesses are valued for estate and gift tax purposes. It will affect both active businesses as well

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Family Keys Alphabet – E

Succession Planning / By Conway Center

From time to time, we’ll post Bea Wolper’s “A-Z Keys to Family Business Success” followed by a question from one of our members on the topic – here’s E: E- Equal. When dealing with family businesses – especially when some family members work in the business and others don’t – “Fair is not always equal, and equal

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Succession Planning – Where to Start?

Succession Planning / By Conway Center

By Conway Center Service Provider Joel Guth, CEO, Founder Gryphon Financial Partners Every business owner is going to exit at some point. That is a fact. However, this can be an intricate, multifaceted task. For the past twenty years, we have advised our business owner clients and prospects to start with the same 3 questions.

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A Family Business Poem

Family Dynamic, Strategic, Succession Planning / By Conway Center

The Conway Center’s former Director, Becky Blatt, facilitated an educational program: “Managing Family Business Relationships: Siblings, In-Laws, and Spouses, Oh My!” She ended with this poem, which resonated with many of our members. Family Business by Nadir Godrej, Managing Director of Godrej Industries Nadir Godrej, is the leader of a highly successful family business and also a

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Selling the family business

News, Succession Planning / By Conway Center

Succession planning is a complex process. It is not always easy and sometimes the plan involves key non-family members. As you will read below, it also can include selling the family business when there is no family willing or able to take the lead. Reflections and New Horizons by Conway Center member Ellen Grinsfelder of the

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Advantages of Using Life Insurance in Business Succession Planning

Insurance, Succession Planning / By Conway Center

By Conway Center Service Provider Kelley King of SG Financial Services, LLC You have lived and died with the family business. Well, the “died” part may be an exaggeration. Nonetheless, you have poured your life into the business and nurtured it to be what it is today. The questions are: What do you want it

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Ten Top Reasons You Are NOT Ready To Lead The Family Business

Family Dynamic, Succession Planning / By Conway Center

Ten Top Reasons You Are NOT Ready To Lead The Family Business Emens & Wolper Law Firm Bea Wolper and Kelly Jasin 10…Mom and Dad still proof all your letters and professional correspondence. 9…Your allowance covers all your living expenses. 8…Dad still has to wake you up in the morning for work. 7…Your address

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So, Why Not Use A Will And Trust Off The Internet?

Blog, Succession Planning / By robintek

Beatrice E. Wolper Emens & Wolper Law Firm We are often asked “why shouldn’t I just use L____ Z____ or S____ O____ for my estate documents since the minimum charge for a will is under $100?” “Why shouldn’t I use the internet’s form for my trust since the minimum cost is only $250?” “Living wills are only $40;

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Succession Planning