WMU News

Business succession seminar set for June 7 at WMU

May 6, 1997

KALAMAZOO -- A seminar helping business owners plan a change in ownership will be conducted from 8:30 a.m. to 12:30 p.m. Saturday, June 7, at Western Michigan University's Fetzer Center.

The seminar, "Business Succession Planning: How to Plan For and Arrange the Succession of the Management and Ownership of a Privately Owned Business," is being offered by WMU's Office of Professional Programs and Conferences.

The seminar will cover topics of interest to business owners who want to continue ownership within the same family or transfer ownership to several family members, transfer ownership to individuals outside of the family, or sell their business to a key person or an outside party.

Among the business succession tools and techniques to be covered are: installment sales and private annuities; family limited partnerships; business valuation and minority interest/marketability discounts; cross purchase, stock redemption and wait-and-see buy/sell agreements; estate transfer methods; and various choices for funding.

Some of the interpersonal aspects of succession planning that will be covered include: the emotions of succession planning; group dynamics between family members; how to get a positive attitude about planning; and how to handle business/family problems.

The presenters for the program will be James A. Heidamos of Kalamazoo, a specialist in the financial aspects of business succession planning; Dr. Trudy G. Verser, WMU associate professor of management; and Michael A. Shields of Kalamazoo, an attorney, certified public accountant and certified financial planner.

The seminar registration fee is $99. For complete details and registration information, call the Office of Professional Programs and Conferences at 616 387-4174. The registration deadline is May 30.

Office of University Relations
Western Michigan University
1903 W Michigan Ave
Kalamazoo MI 49008-5433 USA
616 387-8400