Because it is ingrained in families to preserve legacies and because it gives all the members a common foundation, leaving a legacy helps to establish long-lasting relationships. But how do practice owners effectively transition their practice to a family member and/or leadership team? When is the best time to inform the family member about the upcoming transition?

This week's The Dave Kittle Show episode, Dave Kittle welcomes back Jeffrey Brewster. Jeffrey leads execution for all valuation engagements in collaboration with the other Managing Directors, and is involved in the Practice Group strategy planning. The addition of Mr. Brewster will also allow Objective to expand efforts into the Dallas, Texas area. Jeffrey’s professional background includes business valuation and more than twelve years of experience in a variety of positions within the investment management industry. He has held investment management roles at Merrill Lynch and Harris Trust & Savings Bank in Chicago. As a Financial Consultant with Merrill Lynch in Naperville, IL, Jeffrey performed equity analysis on stocks included in client portfolios and directed investment selection strategies.

In this episode, we will touch on such topics as:

• A good legal council will help you avoid creating a tax burden from both sides of the party.
• Talk to a legal council to ask for advice regarding your next move into transition and how it impacts the overall tax burden on you.
• Don't hesitate to share your intentions with your family members or to someone who you are intending to transfer to. Don’t always expect your hopes and dreams to align with them all the time.
• As soon as you start having the thoughts of transitioning, you should communicate it through questions to find out if there is reciprocation on the other side. 

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Jeffrey Brewster Contact Information:

[email protected]

(469) 394‑1448

Objective website: https://objectivecp.com/

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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