Estate planning strategies topic of seminar Thursday at Tennessee Tech

Of the 12 million family owned businesses in the United States, only 30 percent make the transition from first to second generation, and only 3 percent endure to the fourth generation, according to a study by Loyola University business professor John Ward.

A leading cause of failure for closely held or family owned businesses is a lack of planning and implementation of a disposition strategy, one that transfers wealth from one generation to the next, according to business planning consultant Steve Dozier.

In a program Thursday at Tennessee Technological University, Dozier will focus on the information and strategies business owners need to start a disposition strategy to ensure their organizations continue after they retire.

The two-hour program, which starts at 2 p.m., is part of an ongoing series organized by Tennessee Tech's College of Business Administration Foundation for owners of closely held and family owned businesses.

"Business owners often tell me they have no one who listens, no one who they can talk with about issues of wealth transfer," Dozier says. "Obtaining unbiased information and guidance can be a challenge. This seminar provides it, and it does so in an understandable, conceptual and creative way -- even entertaining -- that's appropriate for older business owners who have succeeded and are now considering issues of the future."

Topics for discussion include transition of the business between partners or to the next generation, impact of transfer taxes on family businesses and taxwise methods of extracting value from the business.

Dozier has more than 21 years of experience in family business consulting, eight as president and CEO of Capital Analysts of Tennessee Inc. His specialties are business disposition, wealth transfer, investment and tax planning. A chartered financial consultant, Dozier is a Tennessee Tech graduate and holds a master's degree in financial services.

For more information, contact Brenda Wilson with Tennessee Tech's College of Business Administration Foundation at 615/372-6231.
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