"It's a Wonderful Life" is not only a classic Christmas movie, it is also a classic example of the issues facing the next generation of Family Business owners. George Bailey, the oldest son at Bailey Brothers Building and Loan, faces terrible personal and...
Marilyn Monroe is a household name that every American, no matter the age, has heard or mentioned at least once in their lives. For estate planners and their family business clients, Marilyn is not only one of the biggest names to grace the Hollywood Walk of Fame but...
As parents age, they begin to think about estate planning, and they naturally want to pass on their assets in the most efficient, and least tax-burdensome manner. Two very important factors to consider in estate planning are asset protection and estate tax exemption....
Happy Washington's Birthday. As chief mentor of next-gen leaders, I’ve been reflecting on the extraordinary accomplishments and leadership of George Washington, hands-down one of the greatest military and political leaders in human history. In 1775, the American...
(Written by David Harland for Smart Company) Many of the world’s most successful businesses are run by multigenerational families. Walmart, BMW and Samsung are three prominent examples. But while over 70% of Australian businesses are family run, only 30% survive...
Conflict is inevitable, especially as you begin to transfer governance away from yourself to others. These other decision makers will begin to make their own decisions which may or may not be congruent to the decision that you would have made.
The federal tax reform law Congress passed and President Trump signed in December has ramifications for family-owned businesses and how they are ultimately transitioned from one generation to the next.
by Renee Lado (originally appeared on Fobresources.com 3/30/17) One of the most frustrating of our human foibles is our propensity to go on auto pilot, allowing our habits to dull our ability to simply pay attention to what is going on around us. As a consequence, we...
The European Family Business Monitor suggests that 71 percent of family firms are feeling confident or very confident in their business’s prospects for the next 12 months. Only two percent feel negative. Moreover, 57 percent report increased turnover over the past year, while 27 percent maintained revenues. So does being a family firm mean you’re more likely to succeed?
Complicating factors include inflation, interest rates and midterm election fallout. Over the past two years, the virus on everyone’s mind was COVID. Today, the virus is inflation. As the cost of goods and wages rise, the country’s biggest private employer segment —...
Following many conversations with philanthropists over the course of two decades, one thing is clear: it’s important for them to continuously enhance the work they’re doing to support the causes they care about. But no matter the mission, foundations can enrich their...
Bipartisan Group of Congressional Members Launch Congressional Family Business Caucus Focused on Family-Owned Businesses Today, Representatives Jodey Arrington (R-TX), Tom O’Halleran (D-AZ), Claudia Tenney (R-NY), and Brad Schneider (D-IL) launched the bipartisan...
Nieke and Daan Renssen PrideStaff Co-Owners, Strategic Partners Temp-to-Hire Staffing and Direct Hire What led you to start the business? Nieke -- Daan and I are from Holland and we both had professional careers there. Daan spent 20+ years in a variety of corporate...