Mike is a business and tax lawyer. He advises clients in negotiating and structuring mergers, acquisitions and divestitures, and with respect to tax planning, transition and exit planning, captive insurance companies and estate planning matters. Mike serves as general corporate counsel for local, regional and national privately-held businesses. Mike also has significant experience in representing individuals and businesses in federal, state and local tax audits.
Mike is a member of the Dentons’ Exit+ team. This unique global initiative brings together lawyers, M&A advisors, accountants, and wealth management professionals to collaboratively help clients develop and implement an effective strategy for selling their business and preparing for life after exit.
August 18th, 2023 | 59 mins 7 secs
Today on the IC-DISC Podcast, I spoke with Mike Silverman and Matt Clark, two attorneys specializing in exit planning and succession planning for business owners. They explained that exit planning is all about planning when an owner wants to leave the company, while succession planning identifies future leaders within the business. Both are crucial since you need a strategy for expected and unexpected departures.
Mike and Matt stressed meeting regularly so these plans stay on track and don't cause disruption. They also talked about having a whole team involved beyond just lawyers, with experts in different fields all working together towards long-term goals.
The overall message I got from listening was planning early, working with professionals with experience like Matt and Mike, and sticking with the process to ensure that transitions go smoothly for everyone.