Leon & Terrance Resnick
Terrance Resnick President, Resnick Associates
Assuring the Successful Continuation of Your Business
Friday, February 16th from 9:45-10:45 AM
As business owners become more successful, they typically become more vulnerable. Learn how to combat those vulnerabilities with strategies for managing business succession, transitioning assets, and preserving wealth. We’ll discuss the reasons that successful businesses may fail, the importance of coordinating estate plans with succession plans, ways to address the issue of active and inactive children in a family business, liquidity issues, valuation methodologies that will satisfy the Internal Revenue Service while lowering the tax bill, buy-sell agreements that allow for maximum tax savings, the legally avoidable mistakes related to cost efficiency and insurance funding that often result in millions of dollars in taxes being paid, and solutions to avoid this scenario. We’ll conclude with a real-life family-business case study.
About Leon and Terrance Resnick
Leon B. Resnick and Terrance K. Resnick, identical twins, are partners in Resnick Associates, a nationally recognized business succession, estate planning, and life insurance advisory and implementation planning firm with offices in Kansas City and Harrisburg, PA. Resnick Associates has spoken before and worked extensively with a large number of trade Associations and their business owner members individually. Coca-Cola has also had the firm present to their privately owned bottling company owners. Resnick Associates has written and been interviewed for many articles in business magazines, newspapers, and trade journals on the topics of business succession, estate planning, and proper due diligence and acquisition of life insurance for the privately held business owner. Resnick Associates has been featured in Nation’s Business, as well as in the book, Streetwise Marketing Plan. Resnick Associates is a co-founder of the Elizabethtown College Family Business Center in Elizabethtown, Pennsylvania, one of the largest college based family business centers in the United States.