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7th Annual Family Business Update: Avoiding & Resolving Conflict 2022

Product ID: CA3312R4
Presented By: State Bar of Wisconsin PINNACLE

Same businesses, new rules

Business owners faced unprecedented challenges during the pandemic. Now there’s another curveball — a brand new statutory framework for Wisconsin’s business entity laws. What do the changes mean for closely held family businesses? The 7th Annual Family Business Update: Avoiding and Resolving Conflict will address the variety of issues your clients are facing in 2022, including a breakdown and analysis of the new business entity laws.

You’ll start with an in-depth primer on owners’ agreements, along with considerations for funding, valuation, dispute resolution, and personal guaranties. Plus, pick up drafting tips and sample language you can use when creating your next operating agreement.

Read More ↓

Interested in sponsoring this program? Find out more.

Select a Format

Webcast seminar
OnDemand seminar

Pricing

Member $269.00

Non-Member $349.00

Credits

7.5 CLE

Date and Time

Saturday, October 22, 20228:30 AM - 4:15 PM CT

Add to Calendar 10/22/2022 8:30:00 AM 10/22/2022 4:15:00 PM America/Chicago 7th Annual Family Business Update: Avoiding & Resolving Conflict 2022

Same businesses, new rules

Business owners faced unprecedented challenges during the pandemic. Now there’s another curveball — a brand new statutory framework for Wisconsin’s business entity laws. What do the changes mean for closely held family businesses? The 7th Annual Family Business Update: Avoiding and Resolving Conflict will address the variety of issues your clients are facing in 2022, including a breakdown and analysis of the new business entity laws.

You’ll start with an in-depth primer on owners’ agreements, along with considerations for funding, valuation, dispute resolution, and personal guaranties. Plus, pick up drafting tips and sample language you can use when creating your next operating agreement.

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No longer available, please choose from options above.

Maximum quantity must be less than or equal to 1.

Same businesses, new rules

Business owners faced unprecedented challenges during the pandemic. Now there’s another curveball — a brand new statutory framework for Wisconsin’s business entity laws. What do the changes mean for closely held family businesses? The 7th Annual Family Business Update: Avoiding and Resolving Conflict will address the variety of issues your clients are facing in 2022, including a breakdown and analysis of the new business entity laws.

You’ll start with an in-depth primer on owners’ agreements, along with considerations for funding, valuation, dispute resolution, and personal guaranties. Plus, pick up drafting tips and sample language you can use when creating your next operating agreement.

Read More ↓

Program Chair and Presenters:

Julie M. Bogle
BDO USA LLP
Madison

Gregory F. Monday
Reinhart Boerner Van Deuren. S.C.
Madison

Presenters:

Catherine J. Durham
Capital Valuation Group, Inc.
Madison

G. Tate Groome, CFP, CLU, AEP
President, Colton Groome Insurance Advisors
Asheville, NC

Nadelle E. Grossman
Marquette University Law School
Milwaukee

Danielle M. Johnson
Reinhart Boerner Van Deuren. S.C.
Madison

Eric Johnson
Johnson Financial Group
Madison

Patrick P. Neuman
Boardman & Clark LLP
Madison

David Palay
Reinhart Boerner Van Deuren. S.C.
Madison

Meg Prestigiacomo
Baird
Madison

Kirsten E. Spira
Boardman & Clark LLP
Madison

Ralph Weber
Weber Advising LLC
Wauwatosa

John C. Zimdars, Jr.
Zimdars Company, Inc.
Madison

 

 

8:00 a.m. : Registration

8:30 a.m. : Back to Basics with Owners Agreement – What to Avoid and What to Include

  • Overview of agreement type based on choice of entity
  • Common provisions in Owner Agreements
    • Management and distribution rights
    • Restrictions on transfer
    • Mandatory purchase and sale obligations
    • Don’t forget the boilerplate
  • Valuation considerations
    • Valuation provisions gone bad
    • Provisions to reflect the owners’ intent and avoiding ambiguity

Catherine J. Durham , Patrick P. Neuman, Kirsten E. Spira

10:00 a.m. : Break

10:15 a.m. : Legal Developments for Small Businesses Case Law:

  • How life insurance can affect business valuation for estate tax purposes.
  • When do noncompetition agreements become unenforceable under Wisconsin law?
  • When can the court step in and force distributions; what are ways to protect the family business and its assets?
    Legislative Updates:
  • Overview of Act 258 – New Wisconsin Statutes Rewriting LLC and Partnership Law
  • When are a company's Bylaws subject to contract law under Delaware business law?
  • When can a shareholder agreement affect directors' fiduciary duty in the context of a sale of the company under Delaware Business Law?

Danielle M. Johnson, David Palay

11:15 a.m. : Alternative Dispute Resolution to Save Family Businesses (and Families)

  • Overview of the many ADR alternatives available to family businesses
  • How to work solutions into family business documents
    • Sample provisions
    • Template language
  • Ensuring that alternatives and solutions will be enforceable and effective

Ralph Weber

12:05 p.m. : Lunch

1:05 p.m. : What if you Don’t Live Long Enough to Complete Your Business Transfer?

  • The Four Primary Uses of Business Life Insurance in Transition Planning
  • The Two Types of Life Insurance – Yes, You Only Need to Know Two!
  • Ways to Minimize Costs and Maximize Future Flexibility
  • Often Overlooked Sample Wording for Life Insurance Planning
  • Considerations in the Event of an Owner’s Disability

G. Tate Groome, John C. Zimdars, Jr.

1:55 p.m. : Opportunities for Family Ventures in Wisconsin’s New Business Entity Law

  • Overview of Wisconsin’s updated and overhauled Wisconsin Business Entity Law
  • Using key provisions of the new law to improve your clients’ family business ventures
    • Governance and management
    • Ownership and succession
  • Asset protection and limited liability
  • Projects intended to benefit the community       

Nadelle E. Grossman, Gregory F. Monday

2:55 p.m. : Break

3:10 p.m. : Show Me the Money! How to Help Your Clients Finance Their Transition

  • Using a financial planner or investment advisor to determine goals, resources, and needs for the departing owner(s)
  • Structuring the transition buyout to protect the owner and the company
  • Working with lenders to help finance the transition

Moderator: Julie M. Bogle
Panelists: Eric Johnson, Meg Prestigiacomo, Kirsten E. Spira

4:15 p.m. : Program Concludes

Following program start times, webcast replay schedule may vary slightly from above listed times.

  • Assess practical impacts of Wisconsin’s new business entity law on closely held businesses
  • Understand what should be included in an owners’ agreement
  • Analyze the pros and cons of alternative dispute resolution in family business disputes
  • Tackle business succession challenges for businesses of modest value
  • Help clients effectively manage insurance policies to minimize risk
  • Get a quick-hitting update on the latest case law impacting family businesses
  • Business lawyers
  • Estate planning lawyers
  • Tax attorneys
  • Insurance lawyers
  • Business litigators
  • General practitioners

Book Sale – Save 20%

LLCs and LLPs: A Wisconsin Handbook

Save 20% on LLCs and LLPs: A Wisconsin Handbook.* Plus, all seminar attendees receive a free two-week trial of the Books UnBound® version. Find detailed discussions on the choice of an appropriate business entity, organization of the business, formalities, and operational and tax issues.

Use discount code CA3312 when you order online or by calling (800) 728-7788.

*Discount applies to both print and digital Books UnBound editions of this title and cannot be applied to previous purchases. Offer valid as long as CLE credit is available for this program. For Books UnBound users, discount may be applied to purchase of individual Books UnBound title only and may not be used on purchase of full library.

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