Corporate Finance & Planning Insights for Multi-Generational Family Businesses
If the senior generation of your family business has not yet crafted their estate tax plan, today is the best day to start. A new decision handed down from the Tax Court last week provides a timely reminder that the costs of procrastination can be very high.
Over the past several weeks, we have seen a lot of great content from folks we respect and admire on leading a family business through turbulence, and thought that we would compile a sampling for the benefit of our readers this week.
We are not economic forecasters, so we are not attempting to make any predictions about the coronavirus or its economic effects. However, in an effort to provide some context for ourselves, this week we decided to go back and examine some data from the Great Recession.
As family business leaders continue to make hard decisions in real-time against the ever-changing backdrop of the pandemic, their legal and tax advisors would do well to consider whether this is an opportune time for intra-family ownership transfers. For many family businesses, the current economic uncertainty presents a unique, and perhaps fleeting, opportunity for more tax-efficient estate planning.
The official end of the bull market for public stocks signals that Coronavirus-induced disruptions to the global economy are real and are expected to persist. The stock market tends to be the best leading economic indicator, so family business directors would do well to think about how best to position their businesses to weather the slowdown.
Family Business Director attended the Transitions Spring 2020 conference in sunny Tampa last week. In this post, we discuss a few recurring themes from the conference.
Family business directors should carefully consider how to integrate the risk of the family business with the risk of the family as a whole. Like their publicly-traded brethren, it may turn out that some family businesses aren’t risky enough.
In this week’s post we discuss, The Cartiers: The Untold Story of the Family Behind the Jewelry Empire written by Francesca Cartier Brickell.
In this post, Chris Mercer discusses a very important breakfast he had some time ago with a client and friend who is second-generation chairman, CEO, and lead family member of a very successful, third-generation family business. That breakfast served as a turning point for him and his business and the family.
This week, we conclude our series of posts on communicating financial results to family shareholders. Having focused on telling the story of the family business through the balance sheet and income statement, we turn our attention this week to the statement of cash flows.
