How to Say Goodbye: Considerations When Selling the Family Business
Selling a business can pose numerous challenges for its owners, management team, and employees. The challenges are often greater when the business is family owned and a significant aspect—and in some cases the focal point —of a family’s life for many years, or even decades, is being sold to a third party. However, the actions that the business owners take before, during, and after a sale can greatly help the family to overcome those challenges and reduce the potentially negative effects of the sale process on the family and the business
About the Presenters:
Nicholas Stawasz, Partner, Pepper Hamilton LLP
Nicholas Stawasz is a partner in the Corporate and Securities Practice Group of Pepper Hamilton LLP, resident in the Boston office. He concentrates his practice in transactional matters, including mergers, acquisitions and dispositions, securities law compliance, and general corporate matters. His experience includes the sale and acquisition of family owned businesses in a variety of industries, including manufacturing, education technology, and life sciences.
Carrie Seligman, Esq., LL M, CFP, Managing Director, Wealth Strategies Advisor, U.S. Trust, Bank of America Private Wealth Management
Carrie Seligman is a managing director and senior wealth strategist at U.S. Trust, Bank of America’s Private Wealth Management. In this role, Carrie provides wealth management guidance and helps clients reach their individual goals in financial planning, estate planning, insurance, tax, risk management, and philanthropy. She coordinates with the client’s team of advisors and conducts periodic reviews to monitor progress and review new legislation, ideas, and solutions to be considered in an ever-changing planning environment. Prior to joining U.S. Trust, Carrie held a similar position at the Boston group of Northwestern Mutual Life Insurance Company. Prior to that role, she served as corporate counsel for her family-owned company. Carrie earned her B.A. in Social Work from Skidmore College, a J.D. from UNH School of Law, and a L.L.M. in Taxation from Boston University. She is a CERTIFIED FINANCIAL PLANNER™ (CFP®) certificant. She is a member of the Boston Estate Planning Council and the Family Firm Institute. She also holds certificates in Family Business Advising (CFBA) and Family Wealth Advising (CFWA) issued through Family Firm Institute, Inc. Carrie does not provide legal advice in her role at U.S. Trust.