New Jersey is home to many successful family run businesses. Unfortunately, many family businesses struggle as the founding generation retire or unexpectedly leave due to death or illness. For this reason, it is important for family businesses to create business succession plans through appropriate legal documents. A properly structured plan will address ownership and management transition, retirement, estate taxes, liquidity and the continued success of the business and family. An understanding of these issues along with considerations regarding the choice of entity, corporate formalities and potential legal and contractual obligations when a change of control occurs are necessary to successfully guide your New Jersey clients through a transition.
Join Riker Danzig attorneys Jason Navarino and Stephen Pagano as they explore all of these issues and identify how to develop an effective succession plan for New Jersey family businesses.
Stephen J. Pagano, Counsel to the Firm, practices in Riker Danzig's Tax and Trusts and Estates department. He concentrates his practice in the areas of probate litigation and tax, trusts and estates matters. Mr. Pagano utilizes his knowledge from years of estate, trust and tax planning to provide insight and strategy in probate litigation matters. In addition, Mr. Pagano’s experience with probate litigation gives him a unique and advantageous perspective in planning for the Firm’s individual and business clients.
Mr. Pagano also practices in the Firm’s Corporate department where he counsels closely-held businesses on a variety of corporate matters. He routinely assists clients in planning the succession of their business to the next generation of leadership. Mr. Pagano works closely with clients to learn their business, anticipate issues and be their trusted advisor.
Mr. Pagano received a J.D. degree, cum laude, from Seton Hall University School of Law in 2005 where he was a member of the Seton Hall Sports and Entertainment Law Journal, and earned a B.A. degree, in Sociology, from Boston College in 2002. Mr. Pagano is currently enrolled at New York University School of Law and is a candidate to receive an LL.M. degree in Taxation. Mr. Pagano is admitted to practice in New Jersey and New York. From 2010 through 2015, he has been included on the Super Lawyers “Rising Star” list in the Estate Planning and Probate field by Thomson Reuters.
Mr. Pagano is a frequent speaker on probate and estate planning topics, including presentations at the annual New Jersey State Bar Association convention on gift and estate taxes, to the NJ Bankers Association on fiduciary law issues, and other speaking engagements.
Mr. Pagano is a graduate of the Monmouth County Hayden Proctor Inn of Court.
The presenters were knowledgeable and did an excellent presentation.
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