Nov 13, 2020
In this episode of the podcast, Tammie Miller, your host,
discusses transitioning family businesses to the next generation
with guest, Paul Griepentrog. Paul is an Attorney, CPA, and
Shareholder at Godfrey & Kahn in Milwaukee, WI. Paul has
significant experience working with closely-held and family-owned
businesses, with a particular focus on intergenerational business
In this episode, Tammie and Paul discuss the following
- [2:41] What happens when the senior
generation is ready to retire but the next generation is not ready
to take over?
- [8:49] How long should the previous owner
- [13:13] Issues with family dynamics when the business is
transferred to one of several children.
- [18:57] Cash vs. inheriting a business.
- [20:11] Strategy to successfully transfer a family
- [23:55] How to compensate a child that is not receiving
equity in the business.
- [27:11] What to do when there is not a “clear”
- [28:11] Tammie shares a “horror story” in a family
- [33:38] Paul shares an example of a successful
- [38:50] Who to call first when planning an