James Aussem

Background

About James Aussem

My focus is on succession planning as well as mergers and acquisitions. We use a system known as the 4 D's and the 3 What's. The first D is what happens when the business owner's partner dies. The second D is how does the disability of one's business associates(s) impact the enterprise. Departure from the enterprise is the third D and encompasses retirement, as well as voluntary and involuntary departure from the enterprise. The final D is discord. Owners and managers often disagree on the strategic direction of the enterprise; how are resolution these inevitable issues accomplished in order to maintain the success of the enterprise. We have come to realize that often passing the business on the next generation is not practical or in the owner or the owners family. Once that determination has been made, selling the business becomes the oly practical way to assure the owner that they will realize value from their lives work. The 3 What's are designed to provide a workable outline for succession plan. The first is "what does the senior generation (the current owners) require from the enterprise to afford their comfortable retirement, etc." The second What is "what can the business afford". The first two (2) What's must be matched up as the ultimate success of the succession plan is dependent on the maintenance of the enterprise and meeting the needs of its constituents (the current owners and their successors). The third is "what is the value of the enterprise". This is necessary in order to be careful in implementing transfer strategies which will be scrutinized by the IRS. In addition, the value helps determine "what is fair" vis a vis other members of the family. This is addressed in two ways, what is fair to the family members who have been in the business for years and perhaps have created sweat equity and those who are not involved but to whom a portion of the family wealth will be transferred upon the senior generation's death. Specialties: Succession Planning (this includes estate planning and probate administration. Mergers and acquisitions (extensive experience in buying, selling and reorganization private businesses). We have come to realize that often passing the business on the next generation is not practical or in the owner or the owners family. Once that determination has been made, selling the business becomes the only practical way to assure the owner that they will realize value from their lives work.