Ownership & Leadership Transition

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Success Requires Buy-In From The Incumbent Generation

Last week, we were honored to have Greg Waggoner and Joanna Morrill of Leupold & Stevens, Inc. present to the Family Business Legacy Group.   Greg is a representative of the 4th generation and serves on the company’s board of directors after working in the business for 22 years.  Joanna is the manager of the newly formed family office.  The Leupold and Stevens families have been in ownership for almost 110 ...Continue Reading

Leadership Transition in Prominent Seattle Family Business

How Do You Run Your Family Business?: Choosing the Right Model of Ownership and Control

Family Business Succession Planning: Learning from the New York Times

Washington’s New Trustee Delegation Law: Allowing Fiduciaries to More Easily Keep Businesses in the Family

The Non-family CEO in the Family Business

Governance & Business Operations

Taxes calculation illustration

Consider The Risks Before Electing S Status For Your LLC

Family-owned businesses are often formed as LLCs.  For federal tax purposes, an LLC with two or more members is treated as a partnership unless it elects otherwise.  Income earned by a partnership is not subject to a separate entity-level tax under federal tax laws.  Rather, net profit or net loss of the partnership passes through to its partners who must report their respective shares on their personal tax returns.  It ...Continue Reading

Success in Succession: Using Strategic Planning to Address the “Missing Middle”

Three Governance Myths at the Family Farm

The Importance of Leadership Training Outside the Family Business

Perils in Family Business Succession: Dynasty or Meritocracy?

Separate but Equal

Growth & Exit Strategies

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Lessons Learned in Selling the Family Business

We have represented hundreds of family businesses (as well as other privately-held businesses) in negotiating and completing successful mergers and acquisitions.  We have seen important lessons learned by families selling their businesses.  Over the course of the next few months, we will be discussing some of those lessons learned.  In some cases, the lessons involved delay, extra cost or difficulty in completing negotiations; in fewer cases, the lessons cost the ...Continue Reading

Selling Your Family Business: Is 2017 the Year?

Top Ten Seller Mistakes

The Difficulty of Succession Planning

What’s Next: After the Sale of a Family Business

Family Business in China – Is There A Succession Crisis?

Estate Planning


Be Careful with Living Trusts that Own S Corporation Stock

In many states, Living Trusts are a person’s key estate planning document.  Living Trusts are created to hold assets during life and then dispose of those assets at death according to the person’s directions (here, we will call the person making the Living Trust the “Grantor.”  Living Trusts thus operate much like a Will, but, unlike a Will, Living Trusts have the benefit of avoiding probate.  This makes them common ...Continue Reading

Succession & Estate Planning Fundamentals for Business Owners

Plan to Communicate

Preserving Your Family Business (or Sale Proceeds) for Generations

Effectively Utilize Your Combined Federal Gift and Estate Tax Exemption

Your Estate Plan – Four Documents You Should Be Considering


Social Media Likes

Social media research reveals insights for retaining top talent.

Successful companies depend on finding and retaining talented employees. Attrition, on the other hand, is expensive. A constantly revolving door means more money and time spent training new employees, makes it hard to build effective teams and can undermine company morale. Family businesses may have a particularly difficult to path to tread in this regard: retaining non-family member employees is a constant issue in family businesses. Even beyond the family/non-family concerns, ...Continue Reading

Harder to Let Go?

The Cowles Company

Does “Hobby Lobby” Apply to My Family Business?

Simple Cafeteria Plans – Key to Keeping Key Employees

Essential Employment Policies for Family Businesses, Part II

Beyond Business


Should a Family Business Owner Make a Charitable Gift of Her S Corporation Stock?

Owners of family businesses are often looking to support charitable causes, while also seeking to obtain the most tax efficient outcome from such donations.  Generally, a charitable contribution of appreciated property allows a donor to deduct the value of property without having to report the inherent appreciation as income.  Many recognize this as a reason to give gifts of appreciated stock or other property to charity instead of cash or ...Continue Reading

Innovation in Family Business?

Family Business Report Highlights Successful Northwest Family Businesses

Leupold & Stevens, Inc: Five Generations of Governance

Family Businesses that Give Back to the Community

On the Horizon: Will the 2017 Real Estate Market Affect Your Family Business?