Archives: Beyond Business

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A Healthy Dose of Conflict

According to Josh Baron, Columbia Business School Professor and co-founder of Banyan Global Family Business Advisors, without a healthy dose of conflict, family businesses “can suffer from limited growth, poor decision-making, a loss of competitive advantage, and, in severe cases, the sale or split of the company.”

Navigating through moments of … Continue Reading

The Missing Piece to Your Succession Plan – The Psychology of Relinquishment

You’ve gone through the motions of succession planning—groomed your successor, established and executed all the attorney-advised documents—and now you’re prepared to hand off your business, right? Not necessarily.

Many family business executives actively or passively resist the transition process they once agreed to when it comes time to … Continue Reading

Interrupted Entrepreneurship

Each generation embraces, refines, and transforms a family business. Sometimes this cycle can be continuous, but more likely it is fraught with “interruptions.” In his new book, Interrupted Entrepreneurship, author and multigenerational family business owner, Ramez A. Baasiri, discusses generational interruptions and how to address them. Ac… Continue Reading

Kids and Cash: How to Develop a Plan to End Financial Dependence

What do you do when your initial generosity towards a family member has resulted in long-term financial dependence? How do you break this vicious cycle and still maintain family relationships? This is a very tricky area and a common challenge for affluent families.

Claudia Sangster, the Director of Family Education & Governance Services at Northern Continue Reading

Bringing the Heat

On June 26, 2018, Davis Wright Tremaine LLP hosted representatives of a prominent Northwest family-owned business at the latest edition of our Family Business Legacy Series. Jenni Isaak, Rick Robinson, and Rush Riese were on hand to discuss their family-owned business – the diversified manufacturing company, Hotstart, Inc. This fourth generation f… Continue Reading

Upcoming: Bringing the Heat – 76 Years of Employee and Family Alignment

Hotstart was established in Spokane, Washington in 1942 as Kimberlin Manufacturing, the company was originally owned and managed by Wayne Kimberlin, a former school bus driver who developed a unique electric engine heater for school buses. Kimberlin bought the original patent for coolant heating from GE and started making engine heaters to improve col… Continue Reading

Families, Fiduciaries and Firearms: Estate Administration and Distribution of Firearms in the State of Washington

The ownership of firearms has been a topic of much debate and scrutiny in recent months. As a part of this national conversation, it is important for gun owners (and their fiduciaries) to generally understand the applicable legal regulations pertaining to the transfer of a firearm triggered by the death of the owner, and how to appropriately execute such tr… Continue Reading

DWT Hosted Two Prominent Seattle-Based Family Business Events in February

This February, Davis Wright Tremaine has hosted two family business events featuring prominent Seattle-based family businesses.

On February 6th, Harbor Wholesale Foods was featured at a family business legacy series. Mike and Justin Erickson joined us to discuss how achieving shared family goals has been instrumental to the success of their family bu… Continue Reading

Upcoming: Henningsen Cold Storage: The challenges of leadership transition

What are the opportunities and pitfalls with leadership succession in a family business?

Join Mike Henningsen Jr., President & Chairman of the Board; Paul Henningsen, Chief Operating Officer; Tony Lucarelli, Executive Vice President Sales & Marketing; and Pat Green, board member and estate and business planning lawyer, to discuss successfu… Continue Reading

Joe Weinstein is the “Lawyer of the Year” for Family Business Law in Seattle

The current, 24th edition of The Best Lawyers in America (2018) is compiled from detailed, confidential evaluations of lawyers by other lawyers. Based on those surveys, Best Lawyers designates a single “Lawyer of the Year” in each of several high-profile specialties in major legal markets. One attorney is given the honor in each practice, in each mar… Continue Reading

Newest Travel Ban: The Intersection of “Family” and “Business” Relationships

The U.S. Supreme Court temporarily approved the latest form of travel ban from the Trump administration with exemptions for certain legitimate business connections and certain family relationships. Family businesses with international ties to the six primarily-Muslim countries affected by the ban should plan ahead in order to minimize any adverse e… Continue Reading

Upcoming: Financing Succession in the Family Business

There is a big difference between – on the one hand – owning stock in a private company that is worth a great deal and – on the other hand – having a great deal of money you can actually spend.

On any number of occasions in the lifecycle of a family business, it would be best for all involved if one or more family members could convert their ownership interest … Continue Reading

Event Recap: No Longer Just a Matter of Taste: Strategic Innovation in the Food Industry

Meridian Capital LLC recently hosted, “No Longer Just a Matter of Taste: Strategic Innovation in the Food Industry,” a panel discussion featuring some of the Pacific Northwest’s most innovative food brands. The panelists included:

Manny Chao, Co-Founder and CEO of Georgetown Brewing: The namesake of the iconic Manny’s Pale Ale, Manny has … Continue Reading

Top Highlights from PwC Family Business Survey

PwC, one of the “Big Four” accounting firms and a consulting titan, released its latest periodic survey of United States family businesses.  PwC performs this survey every two years and has been doing it for ten years now.  Because of its size and scope, PwC has the perspective to touch more United States family businesses than most organizations con… Continue Reading

The Best of 2016: Quotes on Family Business

As we launch full steam into the first quarter of 2017, there are several opportunities to reflect on the successes, failures and more memorable moments of the family business community in 2016. There are also several opportunities to appreciate that – particularly in the ecosystem of family businesses – 2016 was just another year, with many of the sam… Continue Reading

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 a… Continue Reading

Family Business Report Highlights Successful Northwest Family Businesses

You may have thought the big story for Friday, January 20, 2017 was the inauguration of our forty-fifth president. But for those of us in the family business community in the Pacific Northwest, the Puget Sound Business Journal gave us something else to focus on – the PSBJ’s first-ever Family Business Report.

In many respects, the Family Business Report … Continue Reading