Should You Fire Your Child From the Business?

Join Gary Plaster, Family Business Strategist Leader from Baker Tilly; Greg Monday, Corporate Law and Trusts and Estates practice, Reinhart Boerner Van Deuren; Pete Vogel, CEO and fourth-generation owner of Vogel Bros. Building Co.; along with moderator Barbara Spector, Editor-in-Chief and Associate Publisher, Family Business Magazine, as they share practical ways to avoid and/or resolve the complexities of working with your children.

Many family businesses face the reality of a child working in the business who performs poorly and deserves to be fired. The situation might arise because the business did not have the proper guidelines in place regarding hiring and performance evaluation of family members. In other cases, the child may have no interest in running the business. The consequences of firing a family member often reach beyond the business and continue to be a part of the family dynamic forever.

This webinar will offer strategies for preserving the family legacy and relationship. Participants will hear a firsthand account of how one family business faced multi-generational family issues and navigated through to success.

Join Gary Plaster, Family Business Strategist Leader from Baker Tilly; Greg Monday, Corporate Law and Trusts and Estates practice, Reinhart Boerner Van Deuren; Pete Vogel, CEO and fourth-generation owner of Vogel Bros. Building Co.; along with moderator Barbara Spector, Editor-in-Chief and Associate Publisher, Family Business Magazine, as they share practical ways to avoid and/or resolve the complexities of working with your children.

Gary Plaster

Partner-in-Charge, Baker Tilly Center for family Business Strategy

Gary Plaster is an accomplished strategist, author and consultant with more than three decades of experience advising owners and C-level executives of family-owned businesses. As an experienced Chief Strategy Officer, he has led strategic consulting practices at global firms and is a nationally recognized thought leader in the area of growth strategy and managing growth. Gary is also a clinical professor at DePaul University’s Kellstadt Graduate School of Business, Center for Strategy, Execution and Valuation.

Gary earned a BS in Industrial Engineering and an MBA in Finance from the University of Wisconsin.

Greg F. Monday

Shareholder & Corporate Law and Trusts and Estates practice, Reinhart Boerner Van Deuren

Gregory F. Monday is a shareholder in Reinhart's Corporate Law and Trusts and Estates practices. His primary focus is family business law in Madison and the surrounding areas of Wisconsin. In particular, his practice includes:

*Governance and management of private companies and charitable entities

*Succession planning for family businesses

*Estate planning and trust administration

*Greg has also taught business law classes as an adjunct professor at the University of Wisconsin Law School.

Greg primarily specializes in the following industries:

*Business Counseling

*Corporate Governance and Investor Relations Services

*Succession Planning and Exit Strategies

*Estate Planning for Individuals

* Fiduciary Litigation

*Tax-Exempt Organizations

*Securities

*Family Offices Education · J.D., with honors, University of Wisconsin Law School B.A., with honors, University of Wisconsin-Madison Bar Admissions · Wisconsin

https://www.reinhartlaw.com/people/gregory-monday/

Pete C. Vogel

CEO & 4th Generation Owner, Vogel Bros. Building Co.

Peter C. Vogel is an award-winning construction executive, leader and strategist who has dedicated his professional career to preserving the values and legacy of a company that bears his family name. As President and CEO of Vogel Bros., Peter plays an integral role in the construction of hundreds of facilities across southern Wisconsin and central Florida. His belief that professional credibility comes down to personal integrity has been instrumental in his success as a longtime business owner.

Peter represents the fourth generation of Vogels, a family that has always been committed to providing quality construction services. He takes an active role in projects, offering you access to the highest level of management within Vogel Bros. His expertise in comprehensive planning, design and construction management services make him a valuable resource to a wide variety of industries and owners. Leading the lean construction initiatives at Vogel Bros., Pete actively promotes continuous improvement throughout the company. He is committed to his community and has given support to several youth organizations, Dane County schools, scholarship programs, hospitals, community non-profits, and the United Way of Dane County.

https://www.vogelbldg.com/about-us/

Barbara Spector

Editor-in-Chief, Family Business Magazine

Barbara Spector, who grew up in a family business, has served on the editorial staff of Family Business since 2000. She has been editor-in-chief since 2004 and became associate publisher in 2011. She has compiled and edited seven volumes of the acclaimed Family Business Handbook series. Previously, she was the managing editor of Jewelers’ Circular Keystone, a trade magazine for the jewelry industry, which is primarily composed of family businesses. She is a magna cum laude graduate of the University of Pennsylvania.