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Is Life Insurance in the Family Business Dead?Is Life Insurance in the Family Business Dead?

Consider its value in solving succession problems

Vernon W. Holleman, President

February 19, 2016

17 Min Read
Is Life Insurance in the Family Business Dead?

Smart, forward-thinking, successful family business owners typically don’t intend to fail to plan for their business’ smooth continuity, but, still, many fall short. They fail to plan despite both knowing better and being prodded and forewarned (about the pending doom of their estate and legacy) by the advisor community. 

How can we help business owner clients move forward with their succession plans? More proactive teamwork among the family business succession advisory team (collaboration among professional advisors) can lead to better goal clarification, family communication and implemented (not just a nice power point or flow chart) transition plans that result in successfully passing the family business as intended. In fact, two life ...

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About the Author

Vernon W. Holleman

President

http://www.hollemanco.com/

Vernon W. Holleman is the President of The Holleman Companies. He joined the firm in 1994. The firm is a member firm of M Financial Group, the nation's most successful insurance buying consortium. He is published with regularity in both industry (e.g. National Underwriting) and trade magazines and often speaks on the subject and importance of succession planning. He served as President of the District of Columbia Association of Insurance and Financial Advisors (DCAIFA) from 2003-2004 and is a member of the DC Estate Planning Council. Vernon hosts a series of Podcast interviews with business owners, e.g. Austin and Knight Kiplinger, on the topic of succession planning called the Holleman Business Succession Forum, which can be found on the firm's website (hollemanco.com) or through iTunes.

Vernon is a 1989 graduate of St. Albans School in Washington, D.C., and a 1993 graduate of the University of Denver where he received a B.A. in both Political Science and Public Policy. He is the Immediate Past President of the Downtown D.C. Kiwanis Club and served on the Board of Aidan Montessori School and the MedStar Research Institute Board, the research center of MedStar Health. He is Chair of the Planned Giving Committee (PGC) of The Washington National Cathedral and serves on the PGC at both National Cathedral School and St. Albans School, where he also serves on the Development Committee. He is also a Trustee of the Federal City Council and on its Executive Committee.

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