20th Annual Business Lawyers’ Institute: Business Succession Planning 101

Date: Thursday, November 13, 2014
Time: 12:55 - 1:55 PM
Location: The CLE Conference Center (Wanamaker Bldg. Ste. 1010, Philadelphia, PA)
Presented By: The Pennsylvania Bar Institute
To Register: Click Here

Owners of closely-held and family-owned businesses are often times reluctant to plan for the future. Though many are hesitant to plan for retirement, death and other unexpected catastrophic events, a lack of proper planning can be the greatest downfall for an otherwise successful business.
Creating and implementing a strategy to plan for the transition of a business’ ownership is critical to the long-term success of any company and often reduces or eliminates familial discord. A solid, thorough plan will maximize the value business owners receive and will also reduce transfer taxes on the business to the next generation.

In this course, Estates & Trusts Attorney, Jennifer L. Zegel, will provide attendees with an overview of the business succession planning process and will provide key takeaways needed in order to formulate and implement a successful plan, such as: 
  • Review best practices for establishing an effective succession plan custom tailored to each business;
  • Determine what happens in the event of sudden death or disability of a business owner or key employees;
  • Understand the importance of business valuation, and how to identify which valuation method is best for certain situations;
  • Legal and tax considerations associated with the timing and transfer/sale of a company; and
  • Estate, inheritance, and gift tax planning for business owners and strategies to reduce or defer taxes.