Succession Planning for the Closely Held Business

March 3, 2010
The Wharton Club of New Jersey, in association with the WCNJ Entrepreneurs Circles
Fox Rothschild, LLP75 Eisenhower Parkway
Roseland, NJ 07068-1600

8:15 a.m. – 9:45 a.m.

Are you:

  • A business owner with partners in a closely held company?
  • A business owner with children that may or may not want to succeed to the business?
  • A business owner who has neither co-owners nor a next generation to worry about?
  • An executive or senior manager of one of the above business types?

Come join the Wharton Club of New Jersey at its first breakfast seminar. This interactive seminar will cover business succession issues faced by closely held companies and their owners.

Eric Michaels will address two significant issues. He’ll first address, identify and discuss how to plan for the needs of an entity when one or more of its owners/operators is unable to continue in the business as a result of various triggering events. He will then focus on the personal impact to the owner and his or her family when such events occur, and the critical planning elements to mitigate or eliminate adverse consequences.


  • The types of events that trigger succession issues, such as death, disability and retirement
  • How a company prepares to replace the functions of a departing owner, and identifies the appropriate people to replace an owner
  • Advantages and disadvantages of bringing an owner’s children into the business and planning for the succession
  • How the departing owner receives value for his/her interest in the business, including various funding mechanisms

This event is open to Club members and their invited guests only.