Assuring the Successful Continuation of Your Family Business Webinar
The importance of coordinating estate plans with succession plans
By Tim O’Toole
The Mason Contractors Association of America (MCAA) will present “Assuring the Successful Continuation of Your Family Business” on Wednesday, October 12, 2016, at 10:00 AM CDT.
In understandable language, business owners will learn needed tools and strategies in the areas of business succession and wealth preservation and eventual transition of assets (with special focus on their business). Typically the more successful business owners become, they also become more vulnerable.
Accordingly, techniques will be discussed showing how to combat those vulnerabilities and assure that the successful business remains just that – successful! Among the areas of focus will be why successful businesses ultimately fail, the importance of coordinating estate plans with succession plans, addressing active vs. inactive children within a family business (does it make sense to leave the business to all the children?), liquidity issues, valuation methodologies that will satisfy the IRS while lowering the tax bill, the proper type of buy-sell agreements that allow for maximum tax savings and most cost efficiency and insurance funding mistakes that often result in millions of dollars in taxes paid that could have been legally avoided and solutions to avoid this scenario.
The seminar wraps up by tying in many of the areas of the seminar discussion into a real life compelling family business case study that is sure to strike a chord with everyone in the audience!
Mason contractors registered for Masonry Certification will receive 1.00 credits in the Ethics and Business Practices discipline upon completion of this course.
This webinar is free to all attendees. Register for “Assuring the Successful Continuation of Your Family Business” at www.masoncontractors.org/live.
Visit www.masoncontractors.org/live for more information and to view a full schedule of MCAA’s Live Webinar Series.
About the Author
Tim O’Toole is the Director of Marketing for the Mason Contractors Association of America (MCAA). He has a Masters in Business Administration from Webster University and has worked in the masonry industry since 2003.