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Dan Iosue, CFP® joins The Rawls Group

Dan Iosue, CFP® joins The Rawls Group

The Rawls Group, one of the nation’s most respected business succession planning firms, is proud to welcome Dan Iosue as our newest associate. Prior to joining the Rawls Group, Dan spent more than a decade of experience in corporate leadership with Fortune 500 companies such as Panasonic and Eastman Kodak. He blends that experience with his six years as a financial planner with Morgan Stanley Smith Barney and Raymond James. 

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Are You Suffering the Christmas/Hanukkah Syndrome?

“But I love all my kids equally and I want to treat them fairly!” exclaimed Ted, the exasperated business owner who was trying to figure out his estate plan. This sentiment is voiced over and over by my dealer clients leading to many discussions on ‘why equal is not fair’! It’s easy to relate to this concern as most of us have experienced what I call ‘the Christmas/Hanukkah Syndrome’. “Let’s see, I have 3 gifts for John, but only 2 for Hannah, but the 2 for Hannah cost more than the 3 for John – how do I make this work?”

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Dr. Merlot’s Perspective: Overcoming Sibling Partnerships Under Stress

Picking up where we left off from my last post….

In typical Loyd fashion, just before hanging up from our phone conversation focused on Gender’s Impact on Leadership and Teamwork, he left me with a zinger - “What if siblings in business are not willing to recognize each other’s contributions to build a strong partnership?” After working through the previous gender topics I was grateful to have a few days to think about his heavy question.

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Dr. Merlot’s Perspective: Gender's Impact on Leadership and Teamwork

Looking at how male vs. female psyche works, there is no doubt they are different. In fact, a popular analogy to describe these differences is “Men are like Waffles and Woman are like Spaghetti.” Coined by bestselling authors – Bill and Pam Farrel, their analogy provides imagery of how men create boundaries around issues and areas of life, where woman approach decision making and life like a plate of spaghetti – no defined boundaries and one issue can blend into another.

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IRS 2704 Proposed Regulations - Significant Impact on Family Business Succession Planning

The Internal Revenue Service has proposed regulation changes that impact tax consequences of stock gifts or sales to family members in a family business environment. As a result, the valuation discounts that have been a cornerstone to family business succession planning may no longer be available for certain transfers. These changes could go into effect as soon as the next 120 days

Due to the extreme change the IRS proposed legislation will have on the family business planning environment, we asked our general counsel, ShuffieldLowman, to provide an Advisory Notice detailing the impact IRS 2704 would have on planning and potential outcomes.

As always, if you should have any questions, please call us at 407-578-4455 or contact your succession planner.


Proposed Regulations Eliminate Discounts 

Bill Lowman, Shuffield Lowman Attorneys and Advisors

The Internal Revenue Service closely scrutinizes transfers between family members of stock, units, and partnership interests (“Stock”) in any corporation, limited liability company, or partnership that is family-owned (a “Family Business”). The Service has announced proposed regulations that eliminates the use of valuation discounts that would otherwise decrease the estate and gift tax value of such Stock when transferred by sale or gift to family members. If any of your clients are considering a gift or sale of Stock in a Family Business, they may want to consider taking action right away to implement the planning.

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As Seen in Multi Unit Franchisee - Family Business Perspective Matters

As Seen in Multi Unit Franchisee - Family Business Perspective Matters

An owner's perspective about the purpose and who the business serves directly impacts culture, ability to recruit and retain good people, and drive performance - all of which influences customer perceptions, revenue, and profits. In the franchise industry, often times, multi-unit franchisees do not intuitively view themselves as a family business owner. This misperception can and does have an impact on overall business success, sustainability, and value

Read the complete article on the Multi Unit Franchisee website

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As Seen in Digital Dealer Magazine - Family and Business Separation – Is it Possible?

As Seen in Digital Dealer Magazine - Family and Business Separation – Is it Possible?

In a family-owned automobile business, the dealership and general business dynamics often become the center of family interaction.  Read Amy's unique perspective on how to create boundaries between family and business from her experience as a family member employee in her family's business. 

Read the complete article on the Dealer Magazine website

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Dr. Merlot’s Perspective on Gender Bias in the Workplace

Natural May Not Be Obvious

Known for offering up the truth of the matter, let’s get right to the point and address a trend that I am seeing more often than I would like. Gender bias in the workplace. Yup. I said it. It’s out there, and if you are reading this, then you have experienced it, have seen it, or perhaps are a participant in it. Regardless of where you stand, let’s take a look into how your business may intentionally or unintentionally be impacted.

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As Seen in Digital Dealer Magazine - Finding Your Place in the Family Business

Finding your role in a family-owned dealership can be a difficult task. Not everyone is cut out or may care to take on the responsibilities of Successor/Owner, so where do you fit?

Read the complete article on the Dealer Magazine website

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Case Study – 50/50 Partnerships Impact Business Decisions

Industry: Franchise

Company Overview: First generation, multi-unit and multi-brand business across several state lines

Challenge: 50/50 first generation business owners. One partner actively involved in the day to day operations, while the other has become less active, yet very much involved in overall business decisions.

Second generation family members and a few “friends of the family” are becoming interested in the business. The partners have different opinions about the strategic direction of the business, compensation plans based upon their contributions, and the appropriate way to integrate and develop family member employees in the business. Partner conflict is impacting teamwork and performance.

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As Seen in Digital Dealer Magazine - Four Ways to Keep Peace in the Family Business

As Seen in Digital Dealer Magazine - Four Ways to Keep Peace in the Family Business

Owning a business is hard; owning a family business is even harder. Learn how to prevent and resolve family business conflicts with these four simple steps.

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1251 Hits

Juggling Expectations in the Family Business - By Kendall Rawls

Being in the family business is no easy task. You are juggling expectations amongst your loved ones from two different spectrum – family and business– as well as preconceived notions from managers, employees and vendors that you are likely enabled, under-qualified, and of course, grew up with a silver spoon in your mouth. No matter your work ethic, passion, and drive for the business; all family member employees are fighting the nepotism stereotype.

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As Seen in Dealer Magazine - How Do I Deal With An Employed Spouse Who Causes Management Problems?

As Seen in Dealer Magazine - How Do I Deal With An Employed Spouse Who Causes Management Problems?

Loyd Rawls for Dealer Magazine about the Family Business Conundrum: you cannot run a family like a business and you cannot run a business like a family. But what if you work in the business with your spouse? Learn how to overcome the challenges that marriage and joint business operation present.

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Don’t Put the TITLE in Entitlement!

“Executive Manager,” “Director of the Custodial Arts,” “Chief Comradery Officer,” “General Associate Vice President” – Sweet titles, but what do they mean? Nothing without a job description. Unfortunately, a common family business mistake is endowing an important sounding title on someone in order to justify a paycheck that isn’t being earned.

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How to Build Respect for Your Successor Amongst the Management Team

Pride and heartfelt emotions are often factors when a business leader assesses his/her successor’s ability. Therefore, honest management feedback regarding a successor’s performance is a valuable piece of the succession planning puzzle. However, getting reliable feedback from management may be difficult unless the business culture supports open communication and an empowered management team. Ultimately, they are the ones who will be going to battle with the successor and their buy-in will be proportionate to their voice in the process. Management loyalty is not a company asset that gets re-titled to the successor!

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The Rawls Group to Present at Digital Dealer 19 Conference and Expo

The Rawls Group announces that they will be presenting at the Digital Dealer 19 Conference and Expo being held in Las Vegas October 5-7th, 2015.

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Successor Development Checklist

One of the biggest burdens weighing upon family business leaders is whether or not their successors will be ready and capable leaders for the next generation. No matter how intelligent, educated, progressive or firm, it is likely there will be some doubt and even more likely some challenges as you work towards preparing the next generation to lead. After many years of working with families, management teams and their business successors, we have put together a Successor Development Checklist to help clarify which factors are most important in knowing whether or not you have positioned your successor and team for the next generation.

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Motivating Prospective Family Member Successors

Many of you have kids in high school, college or who have just entered the workforce. As you see them grow and mature, you have dreams of them working for the family business. But now that your children are getting older and your dreams of them joining the business can soon become reality, you find yourself in a quandary as they’re not giving you "positive vibes" about this idea.

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But That's Not Fair: How To Overcome the "Fairness" Monster in the Family Business

The issue of fairness is at the heart of problems we encounter daily working with business owners and their families on their estate and succession planning. “That’s not fair! My brother expects me to do all the work while he gets equal pay”; “My parents expect me to run the business for the sake of the whole family – this is a father-son business, but my siblings think it is a family business”; “My father won’t retire – I’m 52  when do I get my chance?”; “My children want to push me out – I built the business, not them”; “Why won’t my son run the business the way I did?”; “Why can’t my children appreciate what I’ve done for them?”; “Why won’t my children work as hard as I did?”

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How to Overcome the "Perfect Family" illusion

Recently while attending a church service our preacher, Dr. Bob, delivered a sermon titled, “Behind The Manicured Hedges” that struck a chord personally and also as a professional family business succession planner. The preacher was referring to Winter Park, FL a largely affluent community consisting of families who have above average means, fabulous homes and impeccable landscaping surrounding their homes. Many who drive along the brick paved, tree lined streets are impressed with the meticulous landscaping and are somewhat envious thinking that these families have no issues or no problem that money cannot fix. If only that were true! The fact is, regardless of how perfect a family looks from the outside, all families have issues.

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