04-24-07

Media Release

Succession Planning for Boomers Focus of 2007 Austin Family Business Conference

CORVALLIS, Ore. – The generation of baby boomers is approaching retirement and a conference sponsored by the Austin Family Business Program at Oregon State University will focus on issues that boomers face, offering tips on everything from estate and succession planning to communication with adult children.

The conference is titled “It’s Your Turn! Succession Planning for Baby Boomers and their Gen X/Millennial Kids.” It will be held on May 22 at the Hilton Portland and Executive Tower in Portland.

The Austin Family Business Program is an organization that works to support and encourage Oregon family businesses, with a year-round roster of workshops and other activities as well as academic courses through Oregon State University. The annual conference draws family business owners and operators from around Oregon.

This year’s conference will address the issues facing baby boomers as they contemplate retirement, letting go, communication, and preparing their adult children to take the reins of the family business. As many as three generations are often represented in today’s family businesses, including boomers and their “Generation X” (up to age 40) and Millennial (up to age 28) children and grandchildren.

“In less than a year, the first baby boomer will start collecting Social Security. This is a real wake-up call for boomers that own and operate family businesses, as well as their financial planners, attorneys and accountants,” said Mark Green, director of the AFBP. “Our goal with the conference is to bring succession planning and estate planning into focus to address the unique needs of this historic population.”

Green will serve as host and moderator of the day-long conference, which will include “bar stool sessions” and panel discussions on such topics as “The Boomer’s Seven Keys to Succession Planning,” “Estate Planning for Boomer Business Owners,” and “Developing the Next Generation of Leaders for Management, Ownership and Family.”

The conference registration fee is $190 and includes a continental breakfast and lunch. Registration and continental breakfast will begin at 7:30 a.m., with the first session at 8 a.m.. A no-host networking reception will be held from 3:30 to 5 p.m.

For more information and to register for the 2007 Austin Family Business Program conference, visit www.familybusinessonline.org or call 800-859-7609.

The Austin Family Business Program was created in 1985 through a generous gift from Ken and Joan Austin of A-dec, Inc. of Newberg. The AFBP’s mission is to help family business owners balance the well-being of their business, family and other individuals as they deal with the challenges arising from day-to-day operations.