Don’t Fall Behind in Planning Ahead: Tips for Successful Successions
Succession planning includes complicated financial matters. Buyers may need loans, assets and rights may be transferred between family members or from owners to employees, and retiring owners may experience a liquidity event. Yet many business owners put off preparing for their succession, leaving themselves struggling to identify the best options and execute a successful exit strategy. This presentation will discuss succession options ranging from partner buy-outs to ESOPs to family ownership, and specific characteristics related to each option. The presentation will also highlight financial considerations owners should be aware of and provide tips for planning a smooth succession.
Attendees will gain a greater understanding of the variety of exit strategies available for business owners, the pros and cons related to various options, and the financial complexities and considerations facing involved parties
Paul Dadlez, Senior Financial Advisor, Alerus
As a senior financial advisor, Paul Dadlez works with individual and institutional clients to understand their unique needs and goals, them assembles the appropriate team of specialists to provide creative and customized solutions. Paul currently specializes in wealth management services, and has expertise in private banking, personal trust, financial planning, and insurance. He previously practiced law for six years and was voted a “rising star” in the legal profession by his peers. He holds a bachelor’s degree in communication arts from the University of Wisconsin-Madison, a master of business administration from the University of St. Thomas School of Business, and a Juris Doctor degree from the Hamline University School of Law.
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