Family Business Litigation with Henry Krasnow

Henry’s book "Your Lawyer: An Owner’s Manual" provides entrepreneurial and family business owners with a guide for getting more value from their lawyers. Henry has lectured throughout the country on this subject, as well as how minority shareholders can develop strategies to make their ownership more valuable. Henry is our guest today on family business litigation issues.

Topics covered on this show: 1) How family business owners can manipulate the value of the business during a divorce, and what to do about it; 2) How family business owners can manipulate the income of a divorcing family member, and what to do about it; 3) If you are to take stock in a family business as part of a settlement, what extra protections do you want—board membership, veto over salaries, veto over family hiring, tag along rights, etc.; 4) If you get stock in a family business without an exit, how can you get bought out at a fairer price. Facing the reality that minority interest is less valuable; 5) If you own a family business, how you can protect the business from a vindictive divorcing spouse.

Henry Krasnow has over forty years experience crafting solutions to legal problems that are focused on increasing the profitability of entrepreneurial and family businesses. He advises business owners on a broad range of problems, such as family business succession planning and dispute resolution, real estate development, sales and acquisitions of businesses, intellectual property protection, resolution of business disputes through litigation, arbitration, negotiation and mediation, and debt restructuring. Henry is a partner of the Chicago law firm of Krasnow Saunders Cornblath Kaplan and Beninati LLP. Website: http://www.ksc-law.com/

Sponsor: Chris McCarthy of Northwestern Mutual Life Insurance Company, Milwaukee, WI.