Thursday, June 3, 1:30 - 3:00 pm

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This is an online event. 


Bill Grosskopf 
SCORE Austin, Chapter 249 
 Going into Business with Family & Friends 

The presenters will provide a lively discussion on common mistakes people make that can be very costly. Their advice is particularly helpful for older adults who are contemplating business ownership or who currently own or manage a business.

The following are eye opening scenarios inspired by real life situations that will be covered during the event:

DO NOT permit younger family members or friends be designated as a successor in your business or estate before you have observed them running your business or managing your investments.

DO NOT start up a business with family members or friends who have debt or spending issues, even if they assure you they have seen the error of their ways.

DO NOT transfer ownership or management of your business to family members or friends without considering what your estate plan does. The transfer of ownership of a Texas business can result in your wealth transferring to that person regardless of what your estate planning documents say including life insurance, IRA's, and 401(k)s.

DO NOT transfer ownership of a business to family members or friends simply because they have the professional or vocational licenses required by Texas law to operate a business until you are sure they are a trustworthy business partner.


Speakers: Terry Belt & Laura Fowler

Terry has practiced law for 43 years and is a top producing attorney at The Fowler Law Firm, PC., where he specializes in business law and estate planning. Belt has earned two Texas Supreme Court victories and is board certified by the State Bar of Texas.

Laura is the Managing Shareholder of The Fowler Law Firm, PC. She is a regular speaker to real estate and business groups and an instructor licensed to teach continuing education courses required by the Texas Real Estate Commission.