Tuesday, August 2, 2011

Passing the Assets to the Next Generation - Does Fair Mean Equal in the Family Business

The Network of Family Businesses has scheduled a virtual educational seminar with Scott Heintzelman, CPA, CMA, CFE of McKonly and Asbury LLP on Passing the Assets to the Next Generation – Does Fair Mean Equal in the Family Business. The seminar is scheduled for Thursday, August 18th at 11:00 AM EST.

In a White Paper found at www.netfamilybusiness.com Scott states the terms "fair" and "equal" are often used interchangeably. However, the two are not synonymous. Equality means that everything is the same in a given situation. Fairness, on the other hand, implies that just treatment is given to everyone. This can vary depending on a person's needs and contributions. For many Business Families splitting assets is not clear. Scott believes when people see themselves as a business family, they tend to focus on good governance (including a family charter), sound business principles and reward people based on performance (therefore attempting to reduce nepotism & entitlement).

Mr. Scott Heintzelman holds a B.S. in accounting from Messiah College and is a Partner with McKonly & Asbury, LLP. He serves clients in a variety of industries with a specialization in providing business advisory services to the Middle Market with a special interest in working with family owned businesses.

Mr. Heintzelman, a Certified Public Accountant, is a member of the American and Pennsylvania Institutes of Certified Public Accountant. Mr. Heintzelman is a Certified Management Accountant (CMA), a certification that provides him with the management expertise to consult with business clients on operations, internal controls, and benchmarking. He is also a Certified Fraud Examiner (CFE), and leads the firm's forensic accounting and fraud prevention team

We at The Network of Family Business are excited to have Scott presenting on this timely topic.

Registration for the On-Line Educational Seminar is available at:


1 comment:

  1. It would be sad to have your business greatly affected by the divorce issue.