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State Bar of Wisconsin PINNACLE

1.5

December 31, 2019

On Demand

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Non-Member Price:
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A Template for Family Business Succession Planning - 2018
  • CA2825D

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Who should purchase:

  • Business law attorneys
  • Estate planning lawyers
  • Solo & small-firm practitioners
  • Real estate attorneys

How you'll benefit:

  • Learn to create an outline for clients' family business succession planning
  • Understand how the initial stages of succession planning can impact later steps
  • Receive advice for counseling your clients through the major steps of succession planning

The secret to successful succession planning

A recent national study found that 69 percent of family businesses surveyed expected the business to continue into the next generation, but only 23 percent had a robust, documented business succession plan1. That's because succession planning is complicated and full of difficult decisions about the unknown.

Entering unfamiliar territory without a map can be stressful. Providing your family-owned business clients with an organized, step-by-step outline of the process makes the whole idea much less intimidating. A Template for Family Business Succession Planning does just that.

Chart your course

Receive a simple, straightforward map of succession planning steps to follow that include:

  • Collecting information and reviewing business records
  • Obtaining a reliable valuation
  • Developing a business continuation plan
  • Optimizing the family business organizational structure
  • Designing rules regulating governance, ownership, and owner exits
  • And much more

Find out how to customize the template into a client-specific outline of steps to complete together. In addition, learn the importance of keeping later steps in mind while working through the process sequentially.

Avoid plot twists

Without a formal succession plan, businesses can suffer from unprepared leaders, family member disagreements on the successor, and many other problems that could have been prevented. Show your clients how simple it can be to start planning with A Template for Family Business Succession Planning. Purchase now!

About the presenter

 

Gregory Monday is a shareholder in Reinhart Boerner Van Deuren, S.C.'s business law practice and trusts and estates practice. He represents middle-market family businesses and their owners in issues involving governance, ownership, and succession.

In particular, he helps family businesses plan and implement long-term transitions of leadership and ownership from one generation to the next, using tailored business governance structures and sophisticated estate planning techniques. He also serves his clients as outside general counsel, helping them obtain and manage the full range of legal services they may need to operate and grow.

Gregory is a frequent speaker and author regarding family businesses. He is a member of the American Bar Association, State Bar of Wisconsin, Wisconsin Law Review (former editor-in-chief), and is a fellow of the American College of Trust and Estate Counsel.


1. https://www.pwc.com/us/en/industries/private-company-services/library/family-business-survey.html

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