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Developing A Succession Plan for New Jersey Family Businesses

(52 reviews)

Produced on December 04, 2017

$ 89 Business, Corporate, & Securities In Stock
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Course Information

Time 1h 17m
Difficulty Advanced
Topics covered in this course: Business, Corporate, & Securities

Course Description

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.

Learning Objectives:

  1. Review the different choices of entity and corporate and tax concerns with each regarding succession
  2. Recognize that estate planning is a key focus in any succession plan
  3. Identify different strategies for accomplishing a client’s succession plan

Credit Information

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Jason Navarino

Riker Danzig Scherer Hyland & Perretti LLP

Jason D. Navarino is a Partner in Riker Danzig’s Corporate and Tax Groups. He has considerable experience advising both large and small business clients with respect to structuring and documenting domestic and cross-border mergers and acquisitions and joint ventures in a tax-efficient and tax-compliant manner, forming operating and investment partnerships and limited liability companies, managing other related tax and corporate matters and advising clients on their day-to-day business. Mr. Navarino also counsels nonprofit and tax-exempt organizations with respect to tax, corporate, employment and intellectual property matters.

Mr. Navarino has been named as one of the NJBIZ Forty Under 40 recipients for 2016. In 2015, Mr. Navarino was named a “New Leader of the Bar” by the New Jersey Law Journal. Thomson Reuters has included Mr. Navarino on its Super Lawyers “Rising Star” list since 2014.

Mr. Navarino received his J.D. degree from Yale Law School in 2007, where he was Senior Editor of the Yale Law Journal and Director of the Community and Economic Development Clinic and its Small Business Legal Services program. He received his undergraduate degree, summa cum laude, from the Woodrow Wilson School of Public and International Affairs at Princeton University in 2004. He completed his LL.M. degree in Tax Law at New York University School of Law in 2013.

Mr. Navarino currently serves as Chair of the Taxation Law Section of the New Jersey State Bar Association, and Chair of that section's International Taxation Committee. He is also the President of the New York Future Problem Solving Program, Inc. as well as Secretary of the Future Problem Solving Program of New Jersey, Inc., and a member of the Legal,Wealth and Tax Advisory Committee of the Community Foundation of New Jersey.

Mr. Navarino served as a Law Clerk to the Honorable Barry T. Albin, Associate Justice of the Supreme Court of New Jersey. Prior to joining Riker Danzig, he was an associate at Debevoise & Plimpton LLP in New York. He is admitted to practice law in New Jersey and New York.

Stephen Pagano

Riker Danzig Scherer Hyland & Perretti LLP

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. 


Erica B.

The presenters were knowledgeable and did an excellent presentation.

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