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Trust and Estate Planning for Family Businesses, Part 1

December 3, 2020 @ 12:00 pm - 1:00 pm

Most successful businesses are owned by one or more families.  Because they are family owned, these companies create many special planning challenges.  Ownership and control do not shift among non-owner managers or anonymous shareholders. Rather, succession in ownership and management is a momentous and often highly emotional process for members of the family.  Frequently, these transitions are caused by the retirement or death of members of a family member.  And these transitions, if not carefully planned and delicately handled, can be ruinous, damaging the family and their company.  This program will provide you a practical framework of trust and estate planning and succession planning for family businesses.

Handout Materials will be emailed to you prior to the seminar
$60.00
1.0 MCLE Credit Hour

Schedule:

  • Framework of trust and estate planning tools and techniques for family businesses
  • Valuation issues for financial and tax purposes
  • Buy-sell planning with family members or key employees
  • Selling to third parties where intra-family succession is not possible
  • Planning for the incapacity of the founding generation
  • Role of outside managers to overcome family drama related to control

Speakers:

Daniel L. Daniels, Wiggin and Dana, LLP – Greenwich, Connecticut