When is the best time to engage in succession planning strategy? How do you prepare the next generation to take over management and leadership of the company? Are there specific situations where it is better for the business owner to consider selling the business instead of passing it on to the next generation? Are there any tax advantages of transferring the business to the next generation?
If you ever ask yourself these or similar questions, this episode of “Wealth Matters” – the radio show where we discuss the opportunities and challenges of preserving and managing wealth – is for you!
During this episode, attorneys Adam Gaslowitz and Craig Frankel lead a panel discussion with Stephanie Brun de Pontet of The Family Business Consulting Group and James D. Spratt, Jr. of The Bowden Spratt Law Firm, P.C. The topic of their discussion is “Transitioning Business to the Next Generation.”
Jim Spratt/The Bowden Spratt Law Firm, P.C.
As a partner/shareholder at The Bowden Spratt Law Firm, P.C., Jim focuses his practice on wealth transfer planning, business succession, and charitable giving. With his thirty plus years of experience in resolving trusts and estates matters, tax-related issues, and tax and probate controversies connected to trusts and estates. Jim is a member of the Atlanta Estate Planning Council, the Atlanta Bar Association, the State Bar of Georgia, the American Bar Association, and the United States Tax Court. He is a Fellow of the American College of Trust and Estate Counsel, and he is the current State Chair. He is also listed in the 2014-2015 edition of The Best Lawyers in America in the Trusts and Estates category. Jim is a current Trustee of The Georgia Federal Tax Conference and a Council Member of the RPTE Section. He is a frequent lecturer and panel member for continuing legal education programs.
Stephanie Brun de Pontet/The Family Business Consulting Group
As a senior consultant of The Family Business Consulting Group, Inc., Stephanie specializes in advising family enterprises facing important transitions. She has extensive experience working with sibling teams and developing training programs to educate next-generation family members. A recognized expert on the topic of succession, Stephanie frequently collaborates with clients on establishing succession plans, drafting needed policies and governance structures, and building a framework for next-generation collaborations. Her work is driven by knowledge and experience from the fields of management, entrepreneurship, and psychology. In addition to her consulting work, Stephanie is a co-author of “Building a Successful Business Board” and “Siblings and the Family Business.” A regular contributor to thought leadership in the field, Stephanie is also the Executive Editor of the Family Business Advisor.
About Gaslowitz Frankel:
Gaslowitz Frankel LLC is an experienced trial practice firm specializing in all aspects of complex fiduciary litigation, representing individuals, companies, banks, and fiduciaries in will, trust, and estate disputes; investor and financial advisor disputes; shareholder/partnership disputes; contract disputes; complex commercial disputes; and appeals.
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