Planning for the Disposition and Management of the Closely Held Business
Cosponsored by Society of FSP and Accountant-Lawyer Alliance
The issues arising from the need to retain key employees/managers in closely held, often family-owned, businesses are analyzed from both the owner’s perspective as well as the key manager/employee’s vantage point. The program puts an emphasis on practical solutions, including equity participation by key employees and phantom/golden handcuff arrangements. The issues related to passing on the family enterprise or selling it are discussed, including how a sale or transfer to the next generation impacts the successful operation of the enterprise and the motivation of the key contributors.
In this session you will learn to:
Examine various ways to retain key employees, including phantom equity and golden handcuffs
Review the nuts and bolts of assembling a succession plan, including push-pull mechanisms, deterrents to inappropriate puts-calls, one owner setting the price and terms, and the other owner selecting whether they will buy or sell under the terms
Evaluate the differences and potential pitfalls of family business succession planning
Assess different ways of transferring management that are unrelated to ownership transitions
James S. Aussem, JD, AEP is a shareholder of the Cleveland law firm of Cavitch Familo & Durkin, Co., LPA, a member of its board of directors, and chair of the Business Practice Group. His practice is focused on succession planning, mergers and acquisitions, as well as estates and trusts. Jim is a past president of the national Society of Financial Service Professionals and has served on the Board of the Foundation for FSP. He is past president of the Cleveland FSP Chapter, and received the Chapter’s Financial Service Professional of the Year award in 2014. Jim has been chosen as one of America's Best Lawyers every year since 2009 and for the past 7 years he has been chosen in two categories, Trust and Estates and Corporate Law. Jim is a frequent speaker, facilitator, and instructor for many professional organizations including the Society of FSP, Cleveland Estate Planning Institute, AICPA Advanced Planning Institute, and Cleveland Marshall College of Law, among others. He earned his Juris Doctor degree from Cleveland-Marshall College of Law and his Bachelor of Arts degree from Baldwin-Wallace University.
1 CFP® credit, 1 CPE (accounting) credit, and 1 Professional Recertification (formerly PACE) credit have been approved.
$5.00 fee per credit.
You must participate in the live webinar in order to earn CE credits. For those requesting credits, a certificate of completion will be emailed to you about a week after the webinar, upon successful completion of the webinar. For CFP® credit, FSP will report your credit to the CFP Board for you after the webinar.
Registration Fee (includes live webinar, PowerPoint, and access to the archived program)
|Prof. Recertification Credit/PACE Credit:
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- Register online by selecting the "Register" button above.
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Upon registration, you will receive instructions via e-mail on how to participate in the program. The e-mail will also include instructions for downloading the PowerPoint presentation.
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This program will be recorded and archived and the link to the recording will be emailed to all registrants about a week after the webinar.
Can't attend the live webinar? Register anyway and you will automatically be sent the link to the recording.
The recording will also be accessible by all FSP members in the Member Resources area of the Website within 24 hours of the webinar.
The recording will include both the audio portion and PowerPoint slides.