Family Business Transitions – Beating The Odds!

TWIN CITIES METRO AREA CHAPTER EVENT

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Family Business Transitions – Beating
The Odds!


What could be easier than transferring a family business to its natural successor, the heirs apparent or offspring? For many family members and their advisers, answers range from world peace in the Middle East to bipartisanship in Congress!

Statistics, widely quoted, indicate that “only” one-third of family-owned business are passed on to the second generation, “only” ten percent to the third generation and “only” three percent survive transition to the fourth generation. The reasons cited for failure are numerous. They include lack of preparedness, emotional and financial, lack of communication, capabilities, and cooperation to name just a few. The key is to begin planning well in advance of the parent’s desired departure dates. With professional guidance and time, family ownership transitions can indeed defy the odds.

Learning Objectives:

  • Identify the various “strategies” available to family business transfers. And how our Panel members chose their path. What worked well, what didn’t and what might they do differently.
  • Communication is one of the most important factors in a family business transfer. We’ll learn how early it should start, who should be included, what should be included, format/frequency, etc.
  • Identify the “Advisory Team Members” and required expertise needed to facilitate a smooth transition from one generation to the next.  And when planning should commence.

 

Meet the Presenters

 

Thank you to our sponsoring firms:

 

This meeting will be held at the Golden Valley Country Club.

Address: 7001 Golden Valley Rd. Golden Valley, MN 55427

EXIT PLANNING IS GOOD BUSINESS STRATEGY

The EPI Local Chapter is different than other groups because it brings together a diverse group of professionals from a wide range of specialties that can naturally work collaboratively on exit planning, succession planning, value growth, transaction or any engagement from both sides of the equation. The chapter meets regularly to network, reconnect, grow knowledge, and sharpen their skills with a common goal: Change the outcome for transitioning business owners. Make plans to join us for future events and connect with the local leadership by visiting www.EPITwinCities.org.

About the Presenters


Dyanne Ross-Hanson

Dyanne Ross-Hanson

President/CEO of Exit Planning Strategies, LLC., CLU, CFP, ChFC, CEPA

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Jennifer Lang

Jennifer Lang

President of the Minneapolis Glass Company

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Christopher Cuneo

Christopher Cuneo

Ballard Spahr LLP


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Robert Morse

Robert Morse

Mid Country Bank


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Continuing Education


This meeting qualifies for the following continuing education credits:

One (1) CPE hour

One (1) CFP® Credit (pending approval)

 

 

NOTE: Proper documentation must be collected and submitted to qualify for continuing education. For questions regarding awarded continuing education credits, please contact Josh Koza at JKoza@Exit-Planning-Institute.org.