David WeaverAll Articles
How Succession Planning Transforms Businesses into Profit Powerhouses
Developing strategies for growth are essential to succession, especially in Century Automotive Group’s case, where four kids are interested in the business within the third generation. As Tracy shares in our discussion, the succession process created a forum to determine: Strategic Plan for the next five years Organizational structure and how to effectively scale Expertise and management styles to best fill open roles Purpose, mission, and vision Strategies to take advantage of changes in the car business Succession planning is an investment, but as Tracy shares, their business is better because they have developed succession [...]
Motivating Family Members To Want To Join The Business
Behaviors and attitudes extend beyond the business. How you treat people correlates to their positive or negative involvement with you, your business, and your brand. Following are simple questions to identify the impressions you are creating: Have you created a culture where everyone is encouraged, respected, and provided growth opportunities? Do family dynamics enter the business, or is it respected and treated as a professional environment? Suppose your answer is YES, to both of these questions. In that case, the environment you have cultivated is evident amongst highly engaged, empowered, and passionate employees, all of whom act as champions [...]
How Do I Motivate My Children, Nephews, In-laws, etc. to Come Into My Business?
Your behavior and attitude towards the business act as role model behavior for your family. Therefore, speaking and showing positive feelings regarding the business is the best way to motivate the family to join. Express how much you enjoy it, the exciting and wonderful career opportunities and prospects for growth. Expose your family to managers, employees, vendors and industry colleagues who feel the same way. Excitement breeds excitement, so be a role model for enthusiasm and speak well of everything you do, everyone you work with and the experiences you have. However, if everyone around [...]
Recording: Virtual Q & A About Biden’s Proposed Tax Changes and Impact on You
What you need to know about Biden's proposed policy changes, their impact on succession planning, and how to get back to business. The election is now behind us. We have a new president and a new party in control, which likely means policy changes. COVID-19 is still present, impacting our lives in many ways. There is still a lot of unknowns and uncertainty as things are getting back to normal. So, what will happen next? Listen to the discussion and hear what our panel of tax and succession experts had to say about the following questions submitted [...]
Video: The Perfect Storm for Estate Planning
2021 feels a lot like a Perfect Storm. A pandemic, political and social unrest, and economic turmoil. Depending upon when you watch this, you may be fretting about how the election will affect your asset portfolio and estate planning. David Weaver shares different estate planning opportunities to consider as well as a few "Gotcha's" to be aware of so you can avoid the lurking landmines. 2021 is already shaping up to be another interesting year. Consider David's insight to capitalize on opportunities that may be going away in the near future. [...]
Episode 2: When and/or Should I Gift to the Next Generation?
A common question we hear is “When Should I gift to the Next Generation?” A simple and obvious answer is “when you’re ready.,” However, there are many nuances to consider based upon your situation. In this episode of the “Planning Post Pandemic and Political Unrest: What’s in It for Me,” The Rawls Group's Succession Planners, Hugh Roberts and David Weaver, along with Kevin Gilbreath a Tax Partner with Crowe, discuss their unique perspectives based upon 75+ years of collective experience, which will allow you to make a more an informed decision for you and the [...]
