Business Succession Planning: Forms and Practice Manual - ebook

Prominent attorney, H.F. “Rick” Riebesell, has drawn from his extensive experience to bring you insightful strategies and relevant forms for virtually every business succession situation you may encounter in this electronic manual, which includes dozens of electronic forms, case studies, and sample client presentations.

This extensive, updated Manual, with more than 875 pages of content, provides all the necessary elements needed during the business succession planning process. The manual focuses on the business, legal, and tax implications that need to be addressed.

Important new features of your revised book include:

• New Chapter: Creating a Decision-Making Process in a Business
• The Chapter includes a Decision-Making Process Worksheet and Flow Chart. The interactive flow chart moves through how a group is determined (different for each decision) and used in the decision-making process. This group must be diverse, independent, and include those who must act. The decision-maker who will be responsible for the decision must form the group. The concepts of governance from hierarchical (pyramid) to nonhierarchical (flat) will be contrasted in terms of efficient decision-making.

H.F. (“Rick”) Riebesell is the principal consultant of Business Transition Consulting LLC. He specializes in finding solutions for the problems of owners of closely-held (owner-managed) businesses. Rick was a practicing lawyer for over thirty years.

He is experienced in business transactions of all types and understands sophisticated estate planning. He has helped businesses with issues including business succession, asset protection, marital agreements, wealth accumulation, and transactions involving the sale and acquisition of businesses. Rick has a special interest in the problems of family-owned enterprises.

• Chapter 1. The Role of the Advisor . . . . . . . . . . . . . . . . . . . . . . . . . . 1-1
• Chapter 2. Preparing the Owners . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2-1
• Chapter 3. Critical Conversations . . . . . . . . . . . . . . . . . . . . . . . . . . . 3-1
• Chapter 4. Values . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4-1
• Chapter 5. Meeting Theory and Making Decisions . . . . . . . . . . . . . 5-1
• Chapter 6. Control, Power, and Prestige . . . . . . . . . . . . . . . . . . . . . . 6-1
• Chapter 7. External Systems . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7-1
• Chapter 8. Creating the Succession Plan . . . . . . . . . . . . . . . . . . . . . 8-1
• Chapter 9. Purpose of the Buy-Sell Agreement . . . . . . . . . . . . . . . . . 9-1
• Chapter 10. Structure of the Buy-Sell Agreement . . . . . . . . . . . . . . . . 10-1
• Chapter 11. Issues of S Corporations . . . . . . . . . . . . . . . . . . . . . . . . . 11-1
• Chapter 12. Triggers and Payment Terms . . . . . . . . . . . . . . . . . . . . . . 12-1
• Chapter 13. Value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13-1
• Chapter 14. Funding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14-1
• Chapter 15. Employment-Related Restrictions . . . . . . . . . . . . . . . . . . 15-1
• Chapter 16. Problems for a New Loss Corporation . . . . . . . . . . . . . . 16-1
• Chapter 17. Estate Tax Considerations . . . . . . . . . . . . . . . . . . . . . . . . 17-1
• Chapter 18. Transfer Restrictions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18-1
• Chapter 19. Covenants Not to Compete . . . . . . . . . . . . . . . . . . . . . . . 19-1
• Chapter 20. Gifting of Ownership Interests . . . . . . . . . . . . . . . . . . . . 20-1
• Chapter 21. Redemption to Pay Taxes . . . . . . . . . . . . . . . . . . . . . . . . . 21-1
  
• Chapter 22. Installment Payment of Estate Tax . . . . . . . . . . . . . . . . . 22-1
  
• Chapter 23. Available Business Entities . . . . . . . . . . . . . . . . . . . . . . . 23-1
  
• Chapter 24. The Influence of the Estate Tax . . . . . . . . . . . . . . . . . . . . 24-1
  
• Chapter 25. Estate Planning with an Unstable Tax Regime . . . . . . . . 25-1
  
• Chapter 26. Drafting the Owner Agreement Containing Buy-Sell Provisions for Owner-Managed (Closely-Held and Family) Businesses . . . . . . . . . . . . . . 26-1
  
• Chapter 27. Business Consulting Intervention Where One Individual Dominates the Decision Process . . . . . . . . . . . 27-1
  
• Chapter 28. The Short-Form Owner Agreement . . . . . . . . . . . . . . . . . 28-1
  
• Chapter 29. Developing the Concept of Wealth Creation . . . . . . . . . . 29-1
  
• Chapter 30. Marketing Opportunities Using the Internet . . . . . . . . . . 30-1
  
• Chapter 31. Crisis Intervention . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-1
  
• Chapter 32. Conflict of Interest Concerns . . . . . . . . . . . . . . . . . . . . . . 32-1
  
• Chapter 33. Creating a Sustainable Planning Environment . . . . . . . . . 33-1
  
• Chapter 34. Product Over Process — Using a Different
  Paradigm . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34-1
  
• Chapter 35. Creating a Decision-Making Process in a Business . . . . . 35-1

Forms

• Form 1: Shareholders Agreement . . . . . . . . . . . . . . . . . . . . . . . Form 1-1
• Form 2: Limited Liability Company Operating Agreement . . . Form 2-1
• Form 3: Limited Partnership Agreement . . . . . . . . . . . . . . . . . . Form 3-1
• Form 4: Annuity Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . Form 4-1
• Form 5: Qualified Subchapter S Trust . . . . . . . . . . . . . . . . . . . . Form 5-1
• Form 6: Owner Agreement . . . . . . . . . . . . . . . . . . . . . . . . . . . . Form 6-1
• Form 7: Short-Form Owner Agreement . . . . . . . . . . . . . . . . . . Form 7-1
• Form 8: Engagement Letter . . . . . . . . . . . . . . . . . . . . . . . . . . . Form 8-1
• Form 9: Consulting Engagement Letter . . . . . . . . . . . . . . . . . . Form 9-1
• Form 10: Owner Agreement (Abridged) . . . . . . . . . . . . . . . . . . Form 10-1

Client Presentations

• Client Presentation 1. Accomplishing a Buy-Sell Agreement . CP1-1
• Client Presentation 2. Family Governance . . . . . . . . . . . . . . . . CP2-1
• Client Presentation 3. Governance . . . . . . . . . . . . . . . . . . . . . . CP3-1
• Client Presentation 4. Axioms for Business Activity . . . . . . . . CP4-1
• Client Presentation 5. Estate Planning Strategies . . . . . . . . . . . CP5-1
• Client Presentation 6. Creating a Sustainable Planning
• Environment . . . . . . . . . . . . . . . . . . . . . . CP6-1

Talking Points

• Talking Point 1. Accomplishing a Buy-Sell Agreement . . . . . TP1-1
• Talking Point 2. Family Governance . . . . . . . . . . . . . . . . . . . . TP2-1
• Talking Point 3. Governance . . . . . . . . . . . . . . . . . . . . . . . . . . TP3-1
• Talking Point 4. Axioms for Business Activity . . . . . . . . . . . . TP4-1
• Talking Point 5. Estate Planning Strategies . . . . . . . . . . . . . . . TP5-1
• Talking Point 6. Creating a Sustainable Planning
• Environment . . . . . . . . . . . . . . . . . . . . . . . . . . TP6-1

Case Studies

• Case Study 1. Professional Company Intervention —
  Case Study and Forms . . . . . . . . . . . . . . . . . . CS1-1
  
• Case Study 2. Retail Company Intervention —
  Case Study and Forms . . . . . . . . . . . . . . . . . . CS2-1

Appendices

• Appendix A: Posting a PowerPoint Presentation on YouTube . . . . . APP A-1
• Appendix B: Website PDF Presentations . . . . . . . . . . . . . . . . . . . . . APP B-1
• Appendix C: Creating the Owner Agreement — Power Point
• Presentation and Spreadsheet . . . . . . . . . . . . . . . . . . . APP C-1