About Larry

Larry is a nationally recognized family business and wealth transition consultant and lawyer who specializes in helping owners of family and other privately-held companies resolve difficult, contentious and seemingly “impossible” transition challenges in a low risk, highly effective manner.

Larry has extensive experience in helping owners transition their family and privately-held businesses. He specializes in transitions that are substantial, complex and frustrating and that drain hope from the individuals involved.

Growing up in a family business, Larry learned first-hand the benefits and challenges of being part of a family-owned company. He decided in high school to pursue a law degree and help family business owners with transition, which is exactly what he has done for 30 years.

As an attorney, Larry understands the legal rights and responsibilities of owners, directors and managers; the tax consequences of changing ownership; and the numerous ways properties can be held and allocated to protect the business and resolve differences among owners. He can ensure that agreed upon decisions are given legal effect.

As a consultant, Larry co-developed the “Balance Point System” that provides a simple, yet effective way to solve all transition issues whenever a founder wants to change how he or she is involved with the business or when the plan is for ownership to be passed to two or more individuals. This system provides a framework to balance all of the primary issues involved with every transition: power, money and personal relationships.

We provide the following advisory services for family business enterprises and their professionals:

  • Family business transitions
  • Boards of Directors
  • Advisory Boards
  • Trustee-Beneficiary-Business Relationships
  • Owner Plans
  • Owner Manuals
  • Family Employment Policies
  • Family Business Retreats and Annual Meetings

REPRESENTATIVE EXPERIENCE

  • Founders and entrepreneurs who want to transition in a way that works for them (not as someone tells them to)
  • Next generation owners who do not want a dictator
  • Owner-managers who do not want other owners interfering with management
  • Founders who want to pass their businesses to their children but still need to fund their retirement
  • Successors who wonder what they can do as they wait their turn
  • Non-family presidents who want to know how best to serve the family and the business
  • Owners who want to know if they should keep or sell their business
  • Businesses who unexpectedly lose a key person and don’t know what to do

EDUCATION

  • University of Nebraska-Lincoln College of Law, J.D., 1984
  • South Dakota State University, B.A., 1979

BAR ADMISSIONS

  • Minnesota State Bar Association
  • Hennepin County Bar Association

HONORS

  • Family Firm Institute, Interdisciplinary Award, July 2010
  • Family Firm Institute, Fellow
  • The Balance Point, Famille Press, Author, 2008

PROFESSIONAL ACTIVITIES

  • Founding member, Family Business Alliance, a multi-disciplinary group of professionals who provide comprehensive, customized consulting services to families in business together
  • Co-founder and teacher, The Board School, the country’s first school for owners, directors and managers of family businesses
  • Fellow, Family Firm Institute
  • Member, Prairie Family Business Association
  • Member, Edina Chamber of Commerce

 Presentations

DATE NAME
2/10/2016 Presenter: “Business Succession Planning: The Essential Issues & Options as Advisors.” MetLife Client Wealth Group of the Upper Midwest, Minneapolis, MN February 2016
10/01/2015 Presenter: “Business Succession Planning: The Essential Issues & Options as Advisors.” Twin Cities Financial Services Providers, Roseville, MN October 2015
4/23/2015 Presenter to family advisors: “How do we, as advisors, address the “elephant in the room” – The really tough family business challenges.” Prairie Family Business Association Annual Conference, Sioux Falls, SD April 2015
11/12/14 Presenter: “The Board’s Role in Preparing a Private Company for Change in Ownership.” National Association of Corporate Directors (NACD), Minneapolis, MN. November 2014
10/21/14 Presenter: “Fight, Flight, Freeze, or Fawn:  How to Minimize and Manage Stressful Dynamics Within Family Businesses” Minnesota CLE Conference, Minneapolis, MN October 2014
3/20/2014 Co-Presenter “Chicken Soup for Minority Shareholders”- A Potpourri of What to Consider Before Making Someone an Owner of Your Family Business, Prairie Family Business Association Annual Conference, Sioux Falls, SD, March 2014
10/31/2013 Presenter, “ Boards for Family Owned Banks”, Graduate School of Banking, Madison, WI, October 2013
8/22/2013 Presenter: “Separating Ownership From Management”, Prairie Family Business Association Annual Conference, Sioux Falls, South Dakota, August 2013
5/30/2013 Presenter, “The Balance Point System”,  Prairie Family Business Association Affinity Study Group, Sioux Falls, South Dakota, May 2013
7/11/2012 Co-Presenter: “Life Planning Trusts—A process to obtain value fulfillment through creating all you can be with intention”, Purposeful Planning Institute, Audio Presentation, July 2012
6/21/2012 Co-Presenter: “How to Overcome Barriers that Impede Professionals from Working Together Collaboratively to Provide More Effective Service to Clients”,  Financial Service Providers (FSP) – Twin Cities Chapter, Minneapolis, Minnesota, June 2012
6/16/2010 Presenter: “Having Your Cake and Eating it Too” How to achieve your personal financial goals without selling your business, Financial Service Providers (FSP) Twin Cities Chapter, Minneapolis, Minnesota, June 2010
5/25-6/2010 Presenter, The Essential Program, Sydney, Australia, May/June 2010
2/18/2010 Presenter, Webinar, “Trusting” The Use Of Trusts For Your Family Business”, Prairie Family Business Association, Sioux Falls, South Dakota, February 2010
DATE NAME
2/3/2010 Guest, The Peter McClellan Radio Show AM1570, discussing how founders can transition their business, Minneapolis, Minnesota, February, 2010
1/27/2010 Presenter, Sioux Falls Senior Leadership Affinity Peer Group, The Fundamentals of Using Trusts, Sioux Falls, South Dakota, January, 2010
12/11/2009 Guest, The Peter McClellan Radio Show AM1570, discussing the challenges to transitioning the family business, Minneapolis, Minnesota, December, 2009
11/5/2009 Presenter, 29th Annual Eide Bailly Bankers’ Seminar on Board Self Assessments, in Fargo, North Dakota, November, 2009
10/29/2009 Presenter, 29th Annual Eide Bailly Bankers’ Seminar on Board Self Assessments, in Fargo, North Dakota, October, 2009
9/23/2009 Presenter, The Launching Pad, Core Knowledge Regarding Family Businesses, Family Firm Institute, New York, New York, September, 2009
5/5/2009 Presenter, “Getting Your House in Order” Planning for the Transition of Your Family Business, Minnesota Bank & Trust, Edina, Minnesota, May, 2009
4/25/2009 Presenter, FAMILY BUSINESSES & TRUSTEES:  How the Two Can Co-Exist Effectively, Attorneys for Family Held Enterprises, Charleston, South Carolina, April, 2009
4/23-24/2009 Presenter, THE BALANCE POINT SYSTEM: A new and practical way to align the interests of managers, owners, and family members, Family Business Network USA, Chicago, Illinois, April, 2009
3/5/2009 Presenter, “A Board?  No Way!”  Is it possible to get a different response when talking to family business owners about boards?, New England Chapter of FFI, Boston, Massachusetts, March, 2009
1/14/09 Presenter, Prairie Family Business Center, “The Balance Point:  A practical system that makes transitioning your family business easier,” January, 2009
10/29/08 Conference Facilitator, Family Firm Institute, “Making the Board the Balance Point: A New Way to Use Boards to Help Family Businesses in Transition,” London, England, October, 2008
4/1/08 Presenter, National School Boards Association 68th Annual Conference, “The Balancing Board,” April, 2008
3/25/08 Speaker, Augsburg College School of Business, “Ideas on how to have a productive relationship with an attorney,” March, 2008
1/18/08 Facilitator, South Dakota Family Business Association, Annual Retreat, January, 2008
11/15/07 Presenter, Attorneys for Family-held Enterprises, 2007 Regional Conference, “Making the Board the Balance Point:  A new way owners can use boards to help their family businesses transition,” November, 2007
11/7/07 Presenter, Wake Forest Family Business Center, “Making Your BoardThe Balance Point:  A New Way of Looking at the Board’s Role in a Family Business,” Charlotte and Winston-Salem, North Carolina, November, 2007
10/17/07 Teacher, Family Firm Institute, Launching Pad, FFI Annual Conference in Miami, Florida, October, 2007
10/3/07 Presenter, Wells Fargo Private Banking Group, “The Balance Point:
A Critical Function in Transitioning a Family Business,” October, 2007
5/17/07 Presenter, Merrill Lynch, “Having Your Cake and Eating It Too: How to plan to keep the family business while harvesting what the owners need to meet their financial goals—without selling the business,” May, 2007
4/26/07 Presenter, South Dakota Family Business Association, “Making Your Board the Balance Point,” April, 2007
4/25/07 Teacher, Family Firm Institute, Launching Pad, FFI Annual Conference in Miami, Florida, April, 2007
3/8/07 Speaker, Augsburg College School of Business, “Ideas on how to have a productive relationship with an attorney,” March, 2007
11/14/06 Speaker, Augsburg College School of Business, “Ideas on how to have a productive relationship with an attorney,” November, 2006
10/5/06 Presenter, Minnesota Bank Holding Company Association Fall Conference, “Making Your Board the Balance Point, a revolutionary (and proven) way of looking at the Board’s role in a family bank,” October, 2006
6/14/06 Presenter, South Dakota Family Business Association, “Identifying the Key Characteristics of the Entrepreneur and What is Involved to Transition those Characteristics,” June, 2006
4/25/06 Presenter, Meristem, “FLPs, a Discussion Among MERISTEM
and Fredrikson & Byron, P.A..” April, 2006
4/4/06 Presenter, University of Minnesota Law School, Advance Estate Planning Class, “How Boards and Owners of a Family Business Can Work Together Effectively and Productively,” April, 2006
4/1/06 Teacher, Family Firm Institute, Launching Pad, FFI Annual Conference in Miami, Florida, April, 2006
3/28/06 Presenter, Minneapolis Estate Planning Council, “Taking the Fear out of Boards for the Entrepreneur (How A Board Can Help an Entrepreneur in Transitioning the Family Business),” March, 2006
3/21/06 Presenter, St. Paul Estate Planning Council, “Taking the Fear out of Boards for the Entrepreneur (How A Board Can Help an Entrepreneur in Transitioning the Family Business),” March, 2006
3/1/06 Author, “The Essential Elements of a Succession Plan for a Family Business,” Journal of Taxation of Investments, Volume 23, Number 2, Winter 2006 , pp. 137-151, published by Civic Research Institute
2/14/06 Presenter, South Dakota Family Business Association, “Case Study for Professionals:  Better Late Than Never,” February, 2006
12/2/05 Presenter, Minnesota Continuing Legal Education, “The Lawyers Guide to Business Valuation, Business Valuations in Estate Planning,” December, 2005
10/18/05 Presenter, University of St. Thomas Seminar, “UniGroup Module: Developing the Next Generation Legal Section,” October, 2005
9/20/05 Conference Facilitator, University of Wisconsin-Madison Family Business Center, “How Boards and Owners of a Family Business Can Work Together Effectively and Productively,” September, 2005
6/9/05 Presenter, Minnesota Annual Probate & Trust Law Section Conference, “Family Business Succession Planning – Understanding the Most Critical Function in the Transition of Family Businesses” June, 2005
4/1/05 Teacher, Family Firm Institute, Launching Pad, FFI Annual Conference in Miami, Florida, April, 2005
4/1/05 Presenter, Minnesota Continuing Legal Education, “The Characteristics of an
Effective Multidisciplinary Team,” April, 2005
3/24/05 Presenter, University of Minnesota, Carlson School of Business, “Ideas On How To Have A Productive And Positive Relationship With An Attorney,” March, 2005
3/8/05 Presenter, University of Wisconsin-Madison, “Family Business Governance”, March, 2005
10/26/04 Presenter, University of Wisconsin-Madison, “Family Business Governance”, October, 2004
2/1/04 Presenter, South Dakota Family Business Association, “Identifying the Key Characteristics of the Entrepreneur and What is Involved to Transition those Characteristics,” February, 2004
10/30/03 Presenter, Twin Cities Chamber of Commerce and Hamline University, “Boards:
Basic Questions and What I Can Do,” October, 2003
10/1/03 Author, “THE ACTIVE BOARD SYSTEM (TABS):  Using Governance to Strengthen Family Businesses in Transition,” Family Firm Institute, Fall, 2003
5/1/03 Presenter, Anderson Center for Entrepreneurship, St. Cloud, “Workshop on Boards in Family Business Transition,” May, 2003
11/1/02 Presenter, University of St. Thomas Center for Family Enterprises, “Succession for Family Businesses, Tax Matters,” November, 2002
9/27/02 Presenter, University of Wisconsin-Madison School of Business, “Working With Professional Advisers:  Family Business Ownership and Management Colloquium,” September, 2002
2/9/00 Presenter, Center for Family Enterprise Women’s Roundtable, “The Nuts and Bolts of Effective Buy/Sell Arrangements,” February, 2000
2/5/00 Presenter, APA Division 13 Consulting Psychology Workshop, “Family Businesses: Organizational Assessment and Leadership,” February 2000
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