Successfully selling a business or transferring it to family members can be extremely challenging, especially when the owner is also focused on the day-to-day activities of running and growing the business. Each sale or transfer situation is unique, reflecting the diversity of business owners and enterprises. One theme recurs, however: the magnitude of this transition. Selling or transferring a business has critical ramifications for the owner, the owner’s family, employees, and community. Because experience can often be the best teacher, this session highlights the experiences of several business owners who have tackled this critical transition. Gain insights and strategies that address the challenges business owners may face when deciding what the next step is for their business. Mr. Drossman will draw insights from his work with closely-held family businesses and from stories featured in “The Owner’s Journey,” a whitepaper prepared by the Eugene Lang Entrepreneurship Center at Columbia Business School, in collaboration with Bank of America Private Bank.

Mitchell A. Drossman is Managing Director and Head of National Wealth Strategies for the Chief Investment Office (CIO) within Bank of America’s Global Wealth & Investment Management (GWIM) division. In this role, Mitchell manages and leads the Wealth Strategies Advisors to provide objective insight to help U.S. Trust, Bank of America Private Wealth Management clients align their financial and estate planning strategies with their goals by integrating the full capabilities of our investment and financial planning services and by utilizing the broad range of Bank of America Corporation and its affiliates. Mitchell works with individuals, families, closely-held family businesses, family offices and institutions in conjunction with their tax and legal advisors to facilitate wealth transfer, business succession (pre-and post-liquidity event strategies), wealth structuring and estate planning needs that are often complex requiring customized analysis and strategies.

Zoom Webinar:
Log-in information will be sent to all registered attendees the day prior to the program. We have reviewed several video communications services and have chosen Zoom for this event. Unfortunately, not all firms permit the use of Zoom so if you are prevented from using it to attend this event due to company restrictions, please join us using a personal computer or cellular phone or by simply dialing in and listening to the event from a telephone. If you will be using a personal device, please test your connection early; an app or registration may be needed the first time Zoom is used.

One Education Credit for CLE (PA Only), Insurance (PA Only), CFP, CPA (PA Only), PACE and CTFA will be offered.

Click here to download a printable registration form.

This Program is Being Sponsored by

TCJA, COVID-19, and the election have and will change everything we know as planners. This presentation will discuss straightforward and innovative planning opportunities for families (and their businesses) that best take advantage of both the “expiring” and “permanent” provisions of the tax law, with an eye toward anticipated changes to the future planning landscape.

Paul S. Lee is the Chief Tax Strategist of The Northern Trust Company, within the Global Family & Private Investment Offices Group and Wealth Management division of Northern Trust. He is also a Senior Vice President and Managing Director of the company. Prior to joining Northern Trust in 2015, he was a National Managing Director at Bernstein Global Wealth Management, and a partner in the Atlanta-based law firm of Smith, Gambrell & Russell, LLP.

Paul is a Fellow of the American College of Trusts and Estate Counsel, has been inducted into the NAEPC Estate Planning Hall of Fame®, and has been designated an Accredited Estate Planner® (Distinguished). A frequent lecturer and panelist on investment planning, tax and estate planning, Paul has spoken at the Heckerling Institute on Estate Planning, ACTEC National Meeting, Southern Federal Tax Institute, and numerous other institutes and conferences across the country.

Paul received his J.D. and LLM (Taxation) degrees from Emory University School of Law, and B.A. degrees in English and Chemistry from Cornell University.

Zoom Webinar:
Log-in information will be sent to all registered attendees the day prior to the program.  We have reviewed several video communication services and have chosen Zoom for this event. Unfortunately, not all firms permit the use of Zoom so if you are prevented from using it to attend this event due to company restrictions, please join us using a personal computer or cellular phone or by simply dialing in and listening to the event from a telephone. If you will be using a personal device, please test your connection early; an app or registration may be needed the first time Zoom is used.

One Education Credit for CLE (PA Only), Insurance (PA Only), CFP, CPA (PA Only), PACE and CTFA will be offered.

Click here to download a printable registration form.

COVID-19 has rocked what had appeared to be a nearly invincible economy; one associated with substantial job growth, multi-decade lows in unemployment, sturdy compensation increases, robust retail sales, low inflation, and strong financial market performance. Underneath that strong performance, however, was a set of fragilities that have been exposed by the pandemic. This webinar speaks to our current economic circumstances, how difficult things are likely to become over the foreseeable future, and the contours of the brisk recovery to come thereafter.

Anirban Basu is Chairman & CEO of Sage Policy Group, Inc., an economic and policy consulting firm headquartered in Baltimore, Maryland with an office in Indonesia. The firm provides strategic analytical services to energy suppliers, law firms, medical systems, government agencies, and real estate developers among others.

In 2014, Maryland Governor Larry Hogan appointed him Chair of the Maryland Economic Development Commission. He also serves as chairman of the Baltimore County Economic Advisory Committee. He is also the Chief Economist to Associated Builders and Contractors and Chief Economic Advisor to the Construction Financial Management Association. He serves or has served similar functions for Visit Baltimore, Maryland Realtors, and Marcum, LLC.

Mr. Basu earned his B.S. in Foreign Service at Georgetown University in 1990. He earned his Master’s in Public Policy from Harvard University’s John F. Kennedy School of Government, and his Master’s in Economics from the University of Maryland, College Park. His Juris Doctor was earned at the University Of Maryland School of Law. His doctoral work is in health economics and has taken place at UMBC.

One Education Credit for CLE (PA Only), Insurance (PA Only), CFP, CPA (PA Only), PACE and CTFA will be offered.