North Texas Chapter Event: Passing the Torch to the Next Generation – Key Considerations


EPI Members $20  *Members must log into the EPI Member Center to receive the member pricing.

Member Registration

Non-Members $30

Non-Member Registration



New Information




Passing the Torch to the Next Generation – Key Considerations

88% of business owners dream of passing their business to their sons or daughters. Yet, their dreams risk becoming a nightmare rather than reality for lack of planning, training and shared goals.  The Result? Unplanned taxes, estate illiquidity, incompetence and mismanagement of the next generation, intergenerational conflict and emotional issues, to name a few. Not to mention the all-too-soon-failure of dad’s successful company and end of former family wealth.

The panelists will discuss: Family business conflicts; potential solutions; teaming with other professional advisers who have specialized expertise to properly advise dad, mom and kids; the attributes of a cohesive family and a successful family business; and the warning signs and issues to be addressed before giving advice or implementing strategies.   The CFP® attendee will be able to identify additional advisors who possess specialized expertise beyond his usual scope of work that he needs to include on the team in order to properly advise his or her client.

Learning Objectives:

  • The pros and cons of keeping the business in the family
  • The dangers of making estate tax reduction the only consideration
  • How to assess the natural management, executive, ownership and leadership capabilities of next-gen
  • Strategies to turn over operations even if dad maintains ownership
  • Ways to gift or sell ownership interest



Panelist: Cleve Clinton, Gray Reed & McGraw

Raised in small town Texas and educated in business, Cleve Clinton is a Board Certified Civil Trial Lawyer at Gray Reed & McGraw who has an affinity for risk takers who plan big, dare big and sometimes find themselves in big trouble—whether the risk taker is a principal of a $50 million business, or in-house counsel for a publicly traded company who seeks innovative, efficient approaches to legal disputes. Having blunted the likes of a real estate developer’s negative media coverage and resulting lawsuits, and a lender’s threatened litigation relating to claimed internal fraud by company officers, Cleve delivers common sense solutions and peace of mind in a crisis.

Cleve earned his law degree at Southern Methodist University Dedman School of Law and attended The University of Texas for his undergraduate education.

Panelist: Norman A. Lofgren, Gray Reed & McGraw

Norm Lofgren is a lawyer at Gray Reed & McGraw and focuses his practice on taxation, estate planning and family wealth protection and transfer. His experience as a former trial attorney for the IRS and tax counsel of a major international energy company, coupled with his extensive experience in income, estate, gift, generation-skipping tax matters and tax planning for closely held businesses enables Norm to create solutions that minimize tax exposure and preserve wealth.

Norm earned his Master of Laws degree in Taxation at Southern Methodist University and also attended Oklahoma City University School of Law and University of Missouri.

Moderator: Betty Schnaufer

Continuing Educationdivider


 CEPAs receive 1 CE credit

CFPs receive a certificate for 1 CE credit

CPAs receive a certificate for 1 CPE credit

Screen Shot 2015-08-21 at 9.48.20 AM