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August 9, 2016
11:00AM - 12:00PM

Dealership Succession Planning - Moving Metal to the Next Generation

OADA Webinar

Please Register Here! for Dealership Succession Planning - Moving Metal to the Next Generation on Aug 9, 2016 11:00 AM EDT.

Many owners have the pleasure of witnessing family members work in their dealerships. Owners generally find great Brown Bag Lunch Webinar Seriessatisfaction in watching these family members develop both personally and professionally through a business they cultivated to become not only successful adults, but also next generation business owners. At some point, when (i) these family members have developed the requisite skills and/or (ii) owners are looking to completely or partially exit, a transition of control and ownership will occur.

OADA invites you to join us as we host Greg Allison from Schneider Downs & Co., Inc., Pittsburgh office, as he instructs you on how to prepare for this transition. From a high level, this transition may seem like a simple process - the owners will transfer control to certain family members when he or she is ready. However, this approach to succession planning is like driving to a new destination without a map or directions. With much good fortune, the adventurer may end up at his or her destination with no issue. However, chances are you will become lost, waste time asking for directions, stop for an extra tank of gas, and arrive late, embattled, and lighter in the pocketbook.

This webinar will take the form of a one-hour estate and succession planning case study involving a fictitious dealership. It will begin with the initial meeting with the owners where succession planning first surfaces and will end when the last share of stock is transferred to the next generation. We will explore the many different issues that commonly arise during this process such as:

  • When to transfer voting stock
  • When to transfer nonvoting stock
  • How to provide for children that are not in the business
  • What role trusts can play in this process
  • How the federal estate and gift tax and impact this succession plan

There is a $30 connection fee for OADA member dealers. Non-members will be charged a $50 connection fee.

 

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Add to Calendar aCLuDhaqizCaPxAftmqF167204 08/09/2016 11:00 AM 08/09/2016 12:00 PM false Dealership Succession Planning - Moving Metal to the Next Generation Please Register Here! for Dealership Succession Planning - Moving Metal to the Next Generation on Aug 9, 2016 11:00 AM EDT.Many owners have the pleasure of witnessing family members work in their dealerships. Owners generally find great satisfaction in watching these family members develop both personally and professionally through a business they cultivated to become not only successful adults, but also next generation business owners. At some point, when (i) these family members have developed the requisite skills and/or (ii) owners are looking to completely or partially exit, a transition of control and ownership will occur. OADA invites you to join us as we host Greg Allison from Schneider Downs & Co., Inc., Pittsburgh office, as he instructs you on how to prepare for this transition. From a high level, this transition may seem like a simple process - the owners will transfer control to certain family members when he or she is ready. However, this approach to succession planning is like driving to a new destination without a map or directions. With much good fortune, the adventurer may end up at his or her destination with no issue. However, chances are you will become lost, waste time asking for directions, stop for an extra tank of gas, and arrive late, embattled, and lighter in the pocketbook. This webinar will take the form of a one-hour estate and succession planning case study involving a fictitious dealership. It will begin with the initial meeting with the owners where succession planning first surfaces and will end when the last share of stock is transferred to the next generation. We will explore the many different issues that commonly arise during this process such as: When to transfer voting stock When to transfer nonvoting stock How to provide for children that are not in the business What role trusts can play in this process How the federal estate and gift tax and impact this succession plan There is a $30 connection fee for OADA member dealers. Non-members will be charged a $50 connection fee.   OADA Webinar