November 8, 2018 to November 11, 2018
Indianapolis, Indiana at the JW Marriott
Whose Legacy? Maximizing your impact through structured philanthropy
Running a privately held business makes decision-making easy. It’s your business; you make the decisions. But when it comes time to exit– whether you’re wildly successful, 45, and want your life back, or you’re 85 and are slowly realizing that you are eventually going to have to retire – you will face many options and many decisions that are likely outside your comfort zone.
This session will offer a conversation with two leading experts on these issues. Lance Woodbury is a leading consultant to closely-held agricultural businesses and professional service firms. He will begin by offering a framework for thinking about issues such as intergenerational business transfers, allocating wealth and control among unequally gifted heirs, external sales, and thinking ahead to maximize tax efficiency and minimize transaction costs.
For most of us, of course, our legacy extends behind maximizing benefits to our family. We take our stewardship obligations seriously and want to extend them beyond our current-year giving; we also want to leave behind a philanthropic legacy. During difficult sale negotiations, all too often consideration of the giving side of a business exit is limited to tax considerations. As a result, philanthropic structures become an afterthought, and are ill-suited to the goals of the donor. Sometimes they even end up doing more harm than good.
After a brief introduction by the two presenters, the session will open up for extended Q&A.