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Succession Planning

Succession Planning: Not Just About the Next Generation of Leaders

Succession Planning / By

When you hear the words “succession planning”, what comes to mind? In most family-owned businesses, succession planning primarily focuses on developing the next generation of leaders, but what if there was more to it? Finding that next generation leader is a challenge and makes succession planning an essential exercise in the survivability of the business […]

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Bea’s Blog: The Importance of Trusts – Not Boilerplate!

Blog, Succession Planning, Taxes, Wealth Transfer / By

Creating a trust is an essential component in your estate planning, but boilerplate trusts can often derail or negate the personal goals of your trust. Boilerplate trusts use form language and lack individual thought. They are not personal to you. They are often obtained from the Internet or from software used by many Ohio lawyers

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5 Essential Questions in Life and How They Relate to Family Business

Blog, Family Dynamic, Succession Planning / By

5 Essential Questions in Life and How They Relate to Family Business by Bea Wolper, Emens & Wolper Law Firm The Women in Family Business Peer Group at the Conway Center for Family Business discussed the ‘5 Essential Questions in Life’ delivered by Dean James Ryan as part of his commencement speech given at the

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The Difficult Succession of the First Family’s Business

Blog, Succession Planning / By

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

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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A Family Business Poem

Family Dynamic, Strategic, Succession Planning / By

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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Advantages of Using Life Insurance in Business Succession Planning

Insurance, Succession Planning / By

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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