[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”4px|||||” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/category\/family-business-survey\/” url_new_window=”on” button_text=”Click to Read the 2023 Family Business Survey Results & Summary” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Call to Action Button Top” _builder_version=”4.20.2″ _module_preset=”default” custom_button=”on” global_module=”7025″ saved_tabs=”all” global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
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With advantageous estate tax<\/a> and gifting laws running out in 2025, Laird Coatings founder Ed Lairds decided the time was right to hand over company reins to his children.<\/p>\n In a new video hosted by Family Enterprise USA\u2019s Pat Soldano, Laird details how after 50 years in business in Huntington Beach, Calif., and as a leading aviation and plastics coatings supplier, he decided to shift leadership and management of several companies to his son and daughter.<\/p>\n [\/et_pb_text][et_pb_video src=”https:\/\/www.youtube.com\/watch?v=9Tn7ZliFx2I” _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_video][et_pb_text _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Planning and preparing family businesses<\/a> for the next generation of leadership is not without some deep consideration, Laird says, but the stark realities of not making the change were facing him head on.<\/p>\n \u201cIf we didn\u2019t make the change now, my children would have to sell the company after my passing, just to pay the taxes,\u201d Laird says. \u201cIt been a wonderful experience making this change, if fast, and my children are performing wonderfully.\u201d<\/p>\n Laird agrees there are many critical decisions family businesses<\/a> face when looking at the next generation of leaders, and the delicate issue of bringing family members<\/a> into the business is not easy.<\/p>\n Laird Coatings is a $30 million business with 50 employees, many of which have worked for the company since the beginning.<\/p>\n \u201cMany of the workers I brought in twenty years ago are still working for us, and now I see their sons are working for us, too\u201d Laird says of his multi-generational<\/a> workers. \u201cIt\u2019s great to have this kind of loyalty and longevity in our workforce.\u201d<\/p>\n Laird Coatings grew with the burgeoning southern California aerospace and aviation industries, but it also felt the pain of the state\u2019s tough environment regulations. As a result, he says, a large percentage of chemical manufacturing has \u201cmoved to other states, or to Mexico.\u201d Those onerous regulations have brought him into local Orange County politics.<\/p>\n \u201cThe environmental rules need to be modified and our local congresspeople can be very helpful in making that happen,\u201d Laird says. He and Laird Coatings are now active not only in politics, but in local charities like the Boy Scouts and other local county non-profit organizations.<\/p>\n \u201cFamily businesses<\/a> like Laird Coatings have to grapple with leadership issues head on or face truly dire decisions, like selling the company just to pay government estate taxes,\u201d said Soldano. \u201cThe best solution is to wisely begin estate planning now, train the next generation of leadership, and rest comfortably knowing you\u2019ve planned safely for your business\u2019s future.\u201d<\/p>\n [\/et_pb_text][et_pb_divider color=”#397389″ divider_weight=”2px” disabled_on=”off|off|off” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”Become a member text” _builder_version=”4.20.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5822″ global_colors_info=”{}”]<\/p>\n As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.<\/p>\n The need for fact-based reporting of issues important to multi generational businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, multi generational businesses<\/a> and family businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to generationally-owned family businesses<\/a> built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n [\/et_pb_text][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/donate\/” button_text=”Become a Family Enterprise USA Member” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Become FEUSA member button” _builder_version=”4.18.0″ _module_preset=”default” custom_button=”on” global_module=”6503″ global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_video_slider disabled_on=”off|off|off” admin_label=”Video Slider Family Business Stories 1″ _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” global_module=”5963″ theme_builder_area=”post_content”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=3k9d1tFz5AU&t=22s” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=kG0lDKbmJxg” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=HFK8SG1VSco” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=Z15BqbFOYck” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=bsn5xYrxhJg” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=PL3K3rK7ioA&t=5s” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=CpXRbRBhPKc” _builder_version=”4.19.1″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][\/et_pb_video_slider][et_pb_text admin_label=”FEUSA Statement” _builder_version=”4.20.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5910″ saved_tabs=”all” global_colors_info=”{}”]<\/p>\n Family Enterprise USA<\/a> promotes family business and job creation, growth, and sustainability by advocating for family businesses<\/a>, their lifetime of savings, and the issues they face running their businesses every day. Some of the issues we fight for or against with Congress in Washington DC are high Income tax<\/a> rates, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift, estate taxes<\/a> and generation skipping taxes<\/a>. Family Enterprise USA represents and celebrates all sizes and industries of family businesses<\/a> and multi-generational<\/a> employers.<\/p>\n Family Enterprise USA<\/a> (FEUSA) is a 501(c)(3) non-profit organization. Family foundations can donate.<\/a><\/p>\n [\/et_pb_text][et_pb_text admin_label=”Hash tags & Tags” _builder_version=”4.20.0″ _module_preset=”default” global_module=”6498″ global_colors_info=”{}”]<\/p>\n #incometax #taxseason #federaltaxpolicy #taxation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #CapitalGainsTax #incometaxrates #incometaxseason #taxrefund #taxreturn #incometaxreturn #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #FamilyBusiness #promotefamilybusinesses #familyowned #supportlocalbusiness #womeninbusiness #AdvocatingForFamilyBusinesses #Generationallyowned #Multigenerationalbusiness\u00a0 @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Laird Coatings Founder Ed Laird Details Transition to New Family Leadership After 50 Years, in New Video by Family Enterprise USA Taking Advantage of Expiring Estate Tax, Gifting Laws, Coatings Founder Laird Discusses Estate Planning with Family Enterprise USA\u2019s President Pat Soldano With advantageous estate tax and gifting laws running out in 2025, […]<\/p>\n","protected":false},"author":2,"featured_media":7937,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[43,91,48,92,78,103,36,16,87],"tags":[],"class_list":["post-7931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-estate-taxes","category-family-business-stories","category-family-businesses","category-multi-generational-business","category-in-the-news","category-next-gen","category-taxes","category-video-post","category-watch-listen"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/7931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7931"}],"version-history":[{"count":4,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/7931\/revisions"}],"predecessor-version":[{"id":7938,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/7931\/revisions\/7938"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/7937"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n
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