"FSP webinars have tremendous value for financial professionals. There is a wide array of interesting topics to choose from, and the ability to assemble a group of individuals lets you extend and amplify the value of the program. When supporting material is provided, such as articles, web sites, etc., attendees can continue the dialogue when the program ends."
Laurene B. Prevette, RHU, LUTCF
FSP Board of Directors, 2011-2012
Exit Strategies for the Business Owner: Case Studies in Life Experiences
*Chapters can offer programs on the national broadcast date or a date of their own choosing. Each Chapter also determines the cost and location for its program. The list of Chapters that have purchased this VTC is below. Consult your Chapter about its plans to present this program.
This two-hour teleconference addresses business succession under several different scenarios.
Wife as Business Owner
A wife in her second marriage after the death of her first husband, and with her current husband's approval, wants the children of her first marriage to inherit the business but needs planning flexibility should they prove incapable of running the company. In another scenario, the same wife wants to keep an unrelated employee on board to partner with her children, who will inherit the business but might not have all the skills to keep it going successfully.
Three Business-Owner Brothers
Brothers want to protect their company in the face of factors that could negatively impact its future, such as differing degrees of interest in the business, skills or lack thereof, and personal stability. Specifics include one brother wanting to leave the business altogether, one in a third marriage with a much younger wife who has minor children, and one in a same-sex union in a state that does not legally sanction such arrangements. The program will address a range of issues that include buy-out plans with an emphasis on creating proper funding to guarantee that the concerns of all interested parties are met, same-sex unions, and more.
The use of life insurance as a planning tool will be discussed in all scenarios, and audience participants can ask questions following the discussion of each scenario.
Attendees will learn:
How to craft a business exit strategy
How to structure buy-out plans to meet the needs of all interested parties
How to work with same-sex unions, children from multiple marriages, and other unique circumstances
How to use life insurance as a funding tool in business exit plans
John A. Oliver, CLU, ChFC, is vice president, field development, for Transamerica Life Insurance Company. John identifies and supports marketing strategies as well as the company's regional vice president network in their sales efforts.
Terri L. Getman, JD, CLU, ChFC, AEP (Distinguished), is the business development officer for Diversified Brokerage Services, Inc. a LifeMark Partners agency. She has served on the Society of FSP's national Board of Directors.
Steve Parrish, JD, CLU, ChFC, is national advanced solutions director for the Principal Financial Group® with more than 30 years' experience as an attorney and financial planner.
Andrew Rinn, JD, CFP®, CLU, ChFC,is senior advanced markets consultant with MetLife's Wealth Advisory Group with expertise inwealth preservation, estate planning, business planning and executive benefits.
Rania C. Sarkis, JD, CLU, is an advanced designs consultant at Pacific Life Insurance Company, specializing in estate and charitable planning, irrevocable life insurance trusts, split dollar and private financing.
If you have a problem contacting your local chapter, call 800-392-6900 (M-F, 9 a.m.- 4:30 p.m. ET ) or contact us via e-mail at Info@FinancialPro.org