Weaving An Estate Plan Into A Succession Plan

With Tim Crisafulli, Esq. & Doug Gorman. Esq.

All business owners must face the inevitable:  the day will come when they will no longer own and operate their businesses.  Although a business owner cannot know whether retirement, disability, death, or a simple desire to try something new will be the cause of his or her departure, it is sure to happen.

           

By effectively planning an exit, a business owner can ensure that his or her business lives on after his or her departure.  In addition, the business owner can “cash out” rather than simply close up shop.  He or she can provide for a graceful transition to subsequent owners, whether they be family, trusted employees, or third-parties.  Sound planning can reduce the risk of an untimely death destroying a business’s value, leaving an uncertain future for the owner’s loved ones.

In this webcast, attorneys Douglas J. Gorman and Timothy P. Crisafulli will discuss select strategies for business succession planning and helpful estate planning techniques.  They will review essential provisions in organizational documents and transitional documents, ways to structure life insurance ownership, strategies to minimize taxes and retain control, and methods for achieving a metered ownership transfer.

Timothy P. Crisafulli practices in the areas of tax law, trust and estates, and elder law. Through his trusts and estates practice, Mr. Crisafulli helps families protect, preserve, and effectively transfer
wealth. He utilizes his extensive knowledge of tax law to minimize capital gains, income, gift, and estate taxes. He administers estates through all stages of probate, representing both fiduciaries and beneficiaries in litigation.

Douglas J. Gorman concentrates his practice on corporate, commercial and business matters. He provides counsel to businesses at all stages of development.  He assists start-up companies and emerging businesses with formation, choice of entity, structuring and financing, including equity investing and crowd-funding.  He counsels family businesses on corporate governance, shareholder and member relations, fiduciary duty and shareholder and member disputes.  He also advises companies, their owners and executives on exit strategies and succession planning.

Join The Network of Family Businesses for an educational Webinar on Wednesday November 19, 2014 at 11:00 AM Eastern Time, with Tim Crisafulli and Doug Gorman.

For additional information email: steve@netfamilybusiness.com