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Business

Posted on October 12, 2017 | 9:00 a.m.

Montecito Attorney to Moderate Talk on Family Business Succession

Source: Jennifer Goddard for Attorney John W. Ambrecht

John Ambrecht Click to view larger
John Ambrecht

An expert and a leader in the field of generational succession planning, Montecito attorney John W. Ambrecht will moderate an upcoming luncheon event in Los Angeles that looks at how our changing world affects the passage of family business assets.

The educational presentation takes place from noon-1:30 p.m., Tuesday, Oct. 31, in Century City. It’s being hosted by STEP LA, the local branch of STEP World Wide, a London-based international organization of lawyers and advisers helping families plan their assets across generations.

Ambrecht, of Ambrecht & McDermott LLP in Montecito is a member of STEP World Wide and established STEP’s first U.S. Business Families Special Interest Group. The presentation is the second U.S. event of the STEP Business Families SIG.

The event’s keynote speaker, Dennis Jaffe, is an author and an expert on business succession. He will discuss his book Cross Cultures: How Global Families Negotiate Change Across Generations, which reveals how families behave and make decisions within different cultures.

Research shows that only 35 percent of family businesses successfully pass from the first generation to the second and, of those, only 15 percent transition to the third generation, so Jaffe stresses the importance of understanding the cultural impacts on family decision-making.
 
The STEP event is designed for estate planners, tax lawyers, tax accountants, lawyers representing family-owned businesses, entrepreneurs and high-net-worth individuals, trust company officers; and in-house counsel and officers at trust companies and banks.
 
Register online at www.regonline.com/stepla-2017-10. Those interested can attend the luncheon in person or listen to the event via dial-in audio.
 
Ambrecht & McDermott focuses on needs of clients at risk for higher estate taxes; clients who require specialized family business succession planning, property tax planning, or assistance with IRS estate and gift tax appeals; and related estate and gift tax litigation.

For more about the Oct. 31 talk, call Ambrecht at 965-1329 or visit www.taxlawsb.com.

— Jennifer Goddard for Attorney John W. Ambrecht.

 
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