Larry is a nationally recognized family business and wealth transition consultant and lawyer who specializes in helping owners of family owned 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 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 34 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:
- Advisory Boards
- Boards of Directors
- Estate Planning
- Facilitate Annual Meetings
- Family Employment Policies
- Owner Manuals and Owner Plans
- Succession Planning
- Trustee-Beneficiary Collaboration
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
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- Family Firm Institute, Interdisciplinary Award, July 2010
The Interdisciplinary Achievement Award recognizes outstanding achievement in the advancement of interdisciplinary services to business families.
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- Family Firm Institute, Fellow, 2007
Representing the highest level of professional designation within the organization, FFI Fellows demonstrate ongoing expertise and commitment to the field of family enterprise.
To be eligible for Fellow status, individuals must complete an FFI Advanced Certificate, be an FFI member for ten years, and present at an annual conference or be published in Family Business Review or FFI Practitioner.
- The Balance Point, Famille Press, Author, 2008
