Agenda

Webinar instructions will be emailed before the date of the webinar.

Please log into the webinar 15 – 30 minutes before the start time.

Friday, October 11, 2024
8:30 am – 4:00 pm EDT

 

Ohio Small Business Succession Planning Overview
Presented by: Adam Abrahams

  • Assessing the fundamentals of the business
  • Creating a business continuity plan
  • Creating a business succession plan

Selling a Closely Held Company to a Third Party
Presented by: Timothy Jamison

  • Selling to another company
  • Selling to a private equity fund
  • Considerations in selling a closely held business

ESOPs: An Overlooked but Savvy Business Succession Planning Alternative
Presented by: Brian Bornino

  • How ESOPs work
  • Unique advantages of ESOPs (for shareholders, employees, and the company)
  • Is an ESOP the right succession plan for your company?
  • Next steps: ESOP feasibility studies and the ESOP transaction process

Using Buy-Sell Agreements
Presented by: John Grundy

  • Voluntary and involuntary agreements
  • Triggering events
  • Buy-sell structure
  • Valuation and funding

Retirement Planning for Ohio Business Owners
Presented by: Matthew D. Scott

  • Transferring ownership of business
  • Maintaining income in retirement
  • Use of trusts and other estate planning techniques
  • Tax considerations

Managing Ethical Issues in Business and Succession Planning
Presented by: J. Grundy

  • Ethical issues in advising family businesses
  • Conflicts of interest
  • Client capacity and undue influence

   

Webinar Instructions

All attendees must log-on through their own email – attendees may not watch together if they wish to earn continuing education credit. HalfMoon Education Inc. must be able to prove attendance if either the attendee or HalfMoon Education Inc. is audited.

Certificates of completion can be downloaded in PDF form upon passing a short quiz. A link to the quiz will be sent to each qualifying attendee immediately after the webinar. The certificate can be downloaded from the Results page of the quiz upon scoring 80% or higher.

Webinars are presented via GoToWebinar, an easy-to-use application that can be run on most systems and tablets. Instructions and login information will be provided in an email sent close to the date of the webinar. It is highly recommended that you download, install and test the application before the webinar begins by clicking on the link in the email.

GoToWebinar App requirements:
Windows 7 – 10 or Mac OSX Mavericks (10.9) – macOS Catalina (10.15)

Web Browser:
The two most recent version of the following browsers:
Google Chrome, Mozilla Firefox, Apple Safari, Microsoft Edge
Internet Explorer v11 (or later) with Flash enabled.

Internet connection: Minimum of 1Mbps       Hardware: 2GB RAM or more

For more information, visit the Support section at www.gotowebinar.com

Credits

Attorneys
6.5 CLE Hours (Including 1.0 Ethics Hour)

Accountants
7.8 CPE Credits

 

Continuing Education Credit Information

This webinar is open to the public and is designed to qualify for 6.5 CLE hours, including 1.0 attorney professional conduct hour, for Ohio attorneys and 7.8 CPE credits for Ohio accountants.

This webinar has been approved by the Supreme Court of Ohio Commission on Continuing Legal Education for 6.5 total CLE hours which includes 5.5 general hours and 1.0 attorney professional conduct hour.

This webinar is open to the public and offers accountants 7.8 CPE credit hours (based on 50-minute hours) of intermediate-level group internet based CPE credits in the area of Business Management. Knowledge of business management is beneficial, and no advance preparation is recommended. NASBA Sponsor No. 103015.

HalfMoon Education Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Continuing education providers that are approved by the National Association of State Boards of Accountancy are deemed acceptable sources of continuing education by the Accountancy Board of Ohio.

Attendance will be monitored, and attendance certificates will be available after the webinar for those who attend the entire course and score a minimum 80% on the quiz that follows the course (multiple attempts allowed).

On-Demand Credits

The preceding credit information only applies to the live presentation. This course in an on-demand format is not pre-approved by any licensing boards and may not qualify for the same credits.

Speakers

Adam L. Abrahams, Esq.

Partner in the Law Firm of Meyers Hurvitz Abrahams LLC, located in Rockville, MD

Mr. Abrahams specializes in Tax Planning, Tax Litigation, Estate Planning and Probate matters. He helps clients meet their legal and tax planning goals and objectives in the areas of business tax planning, entity formation, business transactions, wealth preservation, protection of assets, estate planning and probate estates. Mr. Abrahams also advises clients who have been contacted by the IRS regarding an audit or dispute of a tax return or a tax assessment. He represents individuals and businesses in Maryland, the District of Columbia and Ohio. Mr. Abrahams has published in numerous tax-related publications including: “Irrevocable Life Insurance Trusts as an Effective Estate Tax Reduction Technique” in The Practical Tax Lawyer (Summer 2013) and ABA Section of Taxation News Quarterly (Summer 2013); “Employment Cases and Planning Implications” in the ABA Tax Times (November, 2017); “Medical Cannabis Business Operations: How can business owners navigate the Tax and Banking Law Minefields” in Bloomberg Tax (Tax Management Memorandum – February 4, 2019) (Reprinted in Maryland State Bar Association Tax Talk in 3 parts in 2019 and 2020); “Graegin Loans – Another Way to Reduce Estate Tax” in Bloomberg Tax (Tax Management Memorandum – May 2, 2019); “Representing the Professional Selling or Purchasing a Minority Interest in a Corporate Practice” in The Practical Tax Lawyer (Winter 2022) (Reprinted in Maryland State Bar Association Tax Talk in May 2022); “Update on Worker Classification for Professional Practices and Businesses” in The Practical Tax Lawyer (Winter 2023) (Reprinted in Maryland State Bar Association Tax Talk in Spring 2023).

Mr. Abrahams has over 25 years of substantive legal experience. In addition to a law degree from the Cleveland-Marshall College of Law, he has an Advanced Degree in Taxation from the Georgetown University Law Center. He is licensed in Maryland, the District of Columbia and Ohio. Additionally, he is admitted to practice in the Federal District Court for the Northern District of Ohio, the Federal 6th Circuit Court of Appeals, the United States Tax Court, and the United States Supreme Court.

Brian Bornino, CPA/ABV, CFA, CBA

Director of Valuation & ESOP Advisory with GBQ Capital Advisors

Mr. Bornino’s practice focuses on assisting business owners with ownership transition planning and execution, with specialties in valuation advisory and ESOP advisory. He has been active in the national ESOP community for 25+ years and has been involved in 1,000+ ESOP advisory and valuation engagements. ESOP services provided include ESOP feasibility studies, initial ESOP valuations, ESOP implementation consulting, transaction advisory and structuring (company-side and trustee-side representation), annual ESOP valuations, fairness and solvency opinions, ESOP valuation report reviews, ESOP dispute consulting and advisory, and ESOP trustee advisory. Mr. Bornino currently serves on the Executive Committee of the Ohio/Kentucky Chapter of the ESOP Association and is the Chairman of its ESOP Awareness Committee and a member of its Membership Committee. He is a past winner of The ESOP Association’s Membership Recruitment Award for his work championing Employee Stock Ownership Plans. Mr. Bornino earned his undergraduate degree from Ohio University and his MBA in Finance and Economics from Case Western University.

John C. Grundy

Owner and Principal Attorney with the Law Office of John C. Grundy

Mr. Grundy’s main areas of practice include estate planning, succession planning, probate and business law. He has spoken at several continuing education seminars for lawyers on topics of estate planning, probate, and small business over the years. Mr. Grundy has spoken at the national conference of a Protestant denomination on the topic of “business as missions” in 2013. He has traveled extensively nationally, with limited international travel, in support of a few of his clients and the business as missions movement. Mr. Grundy is a member and coach of the OPEN Network of non-profit/charitable organizations. He earned his J.D. degree from the University of Akron School of Law.

Timothy Jamison, CPA

Director at Prairie Capital Advisors, Inc.

Mr. Jamison, joined Prairie Capital Advisors in 2016 and is a shareholder in the firm. He is responsible for business development and growth initiatives and focuses on advising business owners about ownership transition alternatives including employee stock ownership plans (“ESOPs”) and mergers and acquisitions (“M&A”), among others. Services include adequate consideration analyses, feasibility studies, transaction financing and restructuring, fairness and solvency opinions, post-transaction cash flow analyses and annual valuations. Mr. Jamison has performed valuation and M&A work on a variety of companies in various industries. He also frequently presents webinars and speaks at conferences, including those hosted by Prairie as well as The ESOP Association (“TEA”), the National Center for Employee Ownership (“NCEO”) and the Ohio Employee Ownership Center (“OEOC”) on topics including ESOPs, sustainability, and other ownership transition matters. Mr. Jamison also serves on the Advisory Committee of the Ohio/Kentucky ESOP Chapter, is an officer for the Michigan chapter of the ESOP Association and sits on the Board of Directors for the Tennessee Center for Employee Ownership (“TNCEO”). He earned his undergraduate degree from Bellarmine University, his Master of Business Administration degree from Indiana University.

Matthew D. Scott

Founder and Attorney with the Law Office of Matthew D. Scott

 Mr. Scott founded his practice in 2011, beginning in California. In 2020, he and his family relocated to Southeastern Ohio, where he has established a practice in Marietta. His license to practice in West Virginia is pending. Mr. Scott and his dedicated teams focus entirely on helping families and business owners to plan their futures. Working in close collaboration with a trusted network of financial advisers, CPAs, bankers, and real estate professionals, he delivers high-quality legal services in a no-nonsense fashion. He has prepared well over 3,500 estate and business plans, from basic revocable trusts to complex special-needs and asset-protection planning. Many of his cases involve high-net-worth business owners who desire sound strategies for their succession and tax minimization goals.

Mr. Scott received a Bachelor of Music degree with emphasis in Vocal Performance from Brigham Young University. He has sung in multiple countries and in a dozen languages, including an appearance at Carnegie Hall.  Mr. Scott has released two solo albums under his own label and continues to perform as occasion permits, including for clients on vintage grand pianos at his offices. Having held FINRA Series 7 and 66 licenses, as well as life, accident, and health with annuities and long-term care licenses for many years, He brings a deeper knowledge of the financial implications of legal decisions on important planning considerations. Although he gave up those licenses in 2021 to focus entirely on the law, he remains deeply connected to the financial industry and maintains important relationships to better serve his clients.

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