While succession and estate planning are two critical pieces to any family-business strategy, too often key advisors are left out of the equation when developing those plans.  In so doing, you can jeopardize all of your best efforts.  On the other hand, coordinating efforts and getting everyone in the family involved with your team of advisors can make all the difference.

On our May 27th broadcast, our guests will be Brad Beisbier, Sr, SVP, RBC Bank and Cleve Hill, Attorney at Law, Bettis Law Group, LLC, who will help us understand how to leverage your trusted advisors to ensure that your family and family-business can weather even the most difficult times.

Our discussion will look at some situations that did not turn out as the family-business owner hoped and we will discuss strategies to prevent those situations for your business.

As always, there will be lots of useful and practical information shared and many take always for you and your business.

Our guests:

Brad Beisbier, Sr

Brad Beisbier, Sr was born and raised in Wisconsin where he received an undergraduate degree of Business Administration in Finance from the University of Wisconsin – Oshkosh.  After completing Wells Fargo Bank’s (formerly Norwest) management training program, Brad and his wife relocated to Atlanta where he joined Bank of America (formerly NationsBank).  While at Bank of America, Brad assumed numerous production and leadership roles.  He also received his MBA from Georgia State University’s Robinson College of Business and his Green Belt Certification as part of Bank of America’s Six Sigma efforts.

Brad joined RBC Bank in February, 2006.  Since then, he has been recognized as a Star Performer and served in several different production, strategic, and leadership roles.  Brad has built a portfolio of commercial operating relationships with an emphasis in manufacturing, distribution, and various professional services.  He serves on the board of the Greater North Fulton Chamber of Commerce and is a member of several industry and community associations.  Brad maintains a residence in Cumming, GA along with his wife and their three children.

Brad Beisbier, Sr, Senior Vice President, RBC Bank, (678) 987-7183
    

Cleve Hill

John Cleveland (“Cleve”) Hill  joined Bettis Law Group, LLC  in 2007 as an associate attorney.  Mr. Hill began his law practice in 2004 at Powell Goldstein LLP (now Bryan Cave Powell Goldstein), one of Atlanta’s oldest and largest law firms, where he practiced commercial bankruptcy law.   Presently, Mr. Hill focuses his practice in the areas of estate planning, including wills, trusts, special needs planning, powers of attorney, health care directives, probate and estate administration, conservatorships and guardianships, and small business entity formation.

A native of Cherokee County, Georgia, Mr. Hill attended Oglethorpe University in Atlanta, Georgia, where he received his B.A., magna cum laude, in 2001. While at Oglethorpe, Mr. Hill served two terms as student body president.  At graduation, Mr. Hill received the prestigious James Edward Oglethorpe Cup, which is awarded annually by the faculty of the university to an outstanding senior, along with the Pattillo Leadership Prize, the Charles Longstreet Weltner Award, and was an inaugural recipient of the President’s Community Service Award.  

Mr. Hill attended the Mercer University Walter F. George School of Law in Macon, Georgia where he obtained his J.D., cum laude, in 2004. While at Mercer, Mr. Hill served on the Editorial Board of the Mercer Law Review and graduated in the top 10% of his class. 

Mr. Hill resides in Canton, Georgia with his wife, Allie, and puppy, Reagan.  The Hills attend Woodstock First Baptist Church.   Mr. Hill is very active at his alma mater where he currently serves on the Oglethorpe University National Alumni Board of Directors and the President’s Advisory Council.  From 2007 to 2009, Mr. Hill served on the university’s Board of Trustees.  For the 2008/2009 academic year, Mr. Hill served as Chairman of Campus Life Committee of the Board of Trustees.

John Cleveland (Cleve) Hill, Bettis Law Group, LLC, 404-475-8041

Sunset Family Business Radio

Recap: Lisa Glauber Shippel – Estate Planning-Where Do you Start?

Play Episode Pause Episode

Mute/Unmute Episode Rewind 10 Seconds 1x Fast Forward 30 seconds

00:00 /

RSS Feed

Share

Link

Embed

On May 20th,  Family Business Radio host Pat Romboletti  flew solo (co-host Meredith Moore was out of town) and welcomed lawyer Lisa Glauber Shippel , Rolader & Shippel, P.C., who has a large part of her practice devoted to estate planning of all sizes. In addition to being a certified mediator in the State of Georgia, Lisa grew up in a family business and is now the sibling not involved in that family business.

Lisa’s family has a business operating camps in the NY area, but Lisa opted out and chose the path to a law career instead. 

Lisa and Pat began the discussion on estate planning by talking about the pitfalls to not having a proper plan in place. For instance, it complicates banking relationships and the loan process which the current recession has already complicated. It makes it hard on the heir in the business because it distracts them from taking over the reins. And, something Lisa knows about first-hand from her own family situation, if you have some children working in business and some not—how do you equably leave the estate to your children? What if the non-involved heir wants to get into the business now? If you want to leave the business to the child working in the business, how do make a fair distribution to your children not in the business? As you can see, the issues are varied and very thorny.

So–where to start estate planning process?

• First, sit down with a team of experts—attorneys, wealth managers, and CPAs. With their help, you will want to customize a plan based on your individual needs. “No form, no cookie cutter plan, will work,” Lisa said. “Every family-owned business has different assets and different goals. Your experts need to understand all the nuances of your business.” By the way, Lisa also pointed out that you need to have a sense of security that you can say anything to these people, without fear that you will be judged or information will be leaked. Honesty is the best policy when putting together a workable estate plan.
• Before the first meeting, gather a list of assets with their valuations. Also have in mind who your beneficiaries are. An end vision is nice to have, too.
• Be prepared to discuss succession planning as regards the management of the business. It is a complex process that professionals who know what they’re doing can make easier for you.
• There also needs to be a discussion about the way you want the business valued. That is, how to get it appraised—whether to go for the highest or lowest valuation—to reduce the in-fighting once you’ve passed.
• And the point at which to do all this? “Do it right away,” Lisa advised. No matter the size of your company, it’s always better—actually, cheaper—to have something in place.
• Finally, understand that much is out of your control. The estate plan is not a permanent document—it changes with laws, as your family circumstance change, as the economy changes.

In the end, it is a gift, a wonderful legacy, that you can give your children upon your death to have thought through estate planning issues. Don’t be daunted. While unfortunately there are no black and white rules on how to set up an estate plan, you can organize a team of trusted advisors to help get you there.

Listen to all of Lisa’s excellent insights by downloading the full broadcast here.

Lisa Glauber Shippel, Attorney  at Law/Licensed Mediator, Rolader & Shippel, P.C., 11660 Alpharetta Hwy. Suite 630, Roswell, GA – Telephone: 770-442-0330. lisa@roladerandshippel.com