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Planning Lessons from the World of Sports
February 23rd, 2015
Several family run sports teams have failed over the years and the families have been forced to sell the teams. Some of the reasons for the failures can be enlightening for other family owned businesses if they wish to survive after the founder passe…
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And the Business Goes to …the Employees?
June 13th, 2013
Dawn Huston, 31, started working at Dansko 11 years ago, sorting shoes for delivery. Now a warehouse processor, she said the idea of owning a piece of the company made her nervous at first—though she wasn’t worried about her retirement savings, s…
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Business Succession in the Form of an ESOP
April 29th, 2013
Known as employee stock-ownership plans, or ESOPs, the move is being embraced by smaller firms, especially those struggling to find buyers during the weak economy. Businesses are formed in many ways, and we have come to know those varying abbreviatio…
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Categories: Family Business
Business Succession -- It’s Never Too Early to Plan Your Exit
April 23rd, 2013
There are myriad ways to begin the exit process from your business without giving up management control. [Here] are some ideas to structure for an eventual departure, without having to hand over the keys to the business right now. Business succ…
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Succession Planning – A Business Must
April 8th, 2013
The conversation around successions can be [sensitive], because it brings up all the same issues one faces when starting a business — only this time, you’re forced to imagine it without yourself in the picture. When it comes to business, successi…
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Categories: Family Business
Four Generation Family Business Endangered by Family Dispute
April 2nd, 2013
The silent party to all the fighting is, of course, Luray Caverns. It is not just a U.S. Natural Landmark. It is also a business, and businesses can suffer when their owners are at war with each other. Family businesses have a tough time passing from…
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Be Aware of Joint Tenancy Perils
February 19th, 2013
Clients are always interested in ways to avoid probate. One tool that can help accomplish this objective is Joint Tenancy, a form of co-ownership. When one co-owner dies, his interest in the real property automatically passes to the surviving co-owne…
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Knowing the Value of Your Business in Ann Arbor
February 11th, 2013
With the day-to-day demands of running their businesses, most owners put off getting a valuation until a sale is imminent. But some are starting to treat the act of valuing their business as an integral part of running it. Has anyone asked you what y…
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A Worthy Year for Giving in Ann Arbor
January 8th, 2013
As the tax year draws to a close and the holidays evoke feelings of goodwill, nonprofits count on getting the lion's share of donations during this crucial fourth quarter. While unemployment stats in recent months have been better than expected,…
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Planning for Retirement Starts at Home in Ann Arbor
December 18th, 2012
An AARP survey found that more than 80 percent of us want tostay in our homes as we grow old. And as boomers go, so goes the remodelingindustry. These days, preparing for retirement doesn’t just mean stabilizingyour finances, pre…
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Tags: Retirement Planning
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