Transferring Your Family or Closely Held Business: Part One
- 1:00 – 2:00 p.m. CDT
Presented via live webinar.
Thursday, June 11, 2020 and Wednesday, June 24, 2020
What happens to your business if something happens to you? Have you planned or procrastinated on the transition of your business to family, a key employee, or other “insiders”? COVID-19 shows us that planning is more important than ever while creating unique circumstances that “supercharge” some transfer tools.
Join Lathrop GPM Trusts, Estates, and Legacy Planning Partners Ben Keller and Sally Stolen Grossman for a discussion of business succession planning steps you can take now. This practical primer will cover management issues, including how to identify and groom your successor, develop job descriptions, and revamp your org chart. An overview of transfer tools will include GRATs, IDGTs, installment sales, and gifts and the effect of each on your control. Come ready to learn and get the information you need to stop procrastinating and start planning.
Lathrop GPM attorneys Scott Malin and Steven Kutscheid will continue our discussion of business succession planning in the COVID-19 environment. This session will provide a deeper dive on the concepts addressed in part one, with an expanded discussion of financial and strategic planning considerations to maximize and protect the value of your business in preparation for sale.