Lee Resnick

AVB Events / Lee Resnick

Lee Resnick

Resnick Succession Group


Business Succession + Estate Planning

Monday, March 25 @ 10:00 AM-11:00 AM & 11:00 AM-12:00 PM
In understandable language, business owners will learn about tax law changes that could have a direct impact on their overall wealth. In addition, there will be discussion surrounding vital strategies in the areas of business succession and wealth preservation as well as eventual transition of assets (with special focus on the business). Typically, the more successful business owners become, they also become more vulnerable. Accordingly, techniques will be discussed showing how to combat those vulnerabilities and assure that the business remains ongoingly successful! Among the areas of focus will be why profitable businesses ultimately fail, the importance of business owners coordinating business succession plans with estate plans, addressing active vs. inactive children within a family business (does it make sense to leave the business and related businesses to all your children?), liquidity issues, valuation methodologies that will satisfy the IRS while lowering the tax bill, the proper type of buy-sell agreement that allows for maximum tax savings/cost efficiency and frequent insurance funding mistakes that oftentimes result in massive tax liabilities that could have been legally avoided. The session concludes by tying in many of the areas of the seminar discussion into a compelling real life family business case!

This session drives home the point that as a business owner, when it comes to business succession and estate planning, you must know more than you have ‘something in place’ and realize that the specifics of the plan directly correlate to the success and outcome of your plan.

***Special attention will be given to current labor challenges and how to retain key personnel as well as upcoming changes to the federal estate tax law that may make succession and preservation of businesses even more challenging, and how to combat these obstacles!


Leon B. Resnick and Terrance K. Resnick, identical twins, are partners in Resnick Succession Group, a nationally recognized business succession, estate planning, and life insurance advisory and implementation planning firm with offices in Kansas City and Philadelphia. Lee and Terry have spoken before and worked extensively with over 250 trade Associations, and their business owner members individually. Coca-Cola has also had the Resnick’s present to their privately owned bottling company owners. Lee and Terry have written and been interviewed for many articles in business magazines, newspapers, and trade journals on the topics of business succession, estate planning, and proper due diligence and acquisition of life insurance for the privately held business owner. The firm has been featured in Nation’s Business, as well as in the book, Streetwise Marketing Plan. In addition, the firm is a co-founder of the Elizabethtown College Family Business Center in Elizabethtown, Pennsylvania, one of the largest college-based family business centers in the United States.