Bradley Franc

Overview

Practicing in the Business Law and Estates and Trusts Groups, Brad works extensively with private business owners, affluent individuals, closely held businesses, and technology-based firms to strategically integrate business, estate, and charitable planning objectives.

For many closely- and privately-held business clients, he also serves as outside general counsel and advises on key initiatives such as business and strategic planning, commercial transactions, corporate governance, and estate and succession planning.

Combining his legal experience with his experience as a former certified public accountant at an international CPA firm, he also advises on federal and state tax issues.

Experience

Brad’s work has included:

The formation, acquisition and sale of manufacturing, high tech, and service-related companies
Raising capital through private placements
Negotiating and securing traditional as well as venture capital financing
Structuring sophisticated estate and succession plans for closely held business owners and high net worth individuals
Succession planning for closely held businesses

A frequent lecturer and author on closely held business and tax topics, federal and state tax issues, and estate planning, his article on tax provisions was cited by the Supreme Court of the United States. Brad also has appeared nationally on Bloomberg Television and Fox News websites for his business, tax, and succession planning advice. He has also been published in U.S. News & World Report.

Brad is also the creator of The Succession Solution^SM, a customized program to assist closely held businesses in their transition into the next generation. He is also the author of The Succession Solution^SM: The Strategic Guide to Business Transition.

Member Allegheny County Bar Association (Business Law Council and Tax Council)
Member American Bar Association
Member American Institute of Certified Public Accountants
Member Pennsylvania Bar Association
Member Pennsylvania Institute of Certified Public Accountants

Will your business survive the next generation?

Even though 80% of business owners intend to transfer their business to the next generation, only 30% accomplish their objective.

More than 50% of family members have little or no idea of the founder’s intentions regarding succession.

Less than one-third of family businesses survive to the second generation, 10% to the third, and only 3% make it to the fourth generation and beyond.

Critical to the future success of almost any business is planning for its succession.

Without it, business can face the loss of clients, key personnel, or encounter family disputes. This can ultimately lead to the loss of shareholder value, family relationships, not to mention the destruction of the founder’s legacy.

An examination of successful multi-generational family businesses shows the use and recognition of two fundamental strategies:

Plan for Succession Successful family businesses adopt some form of a succession process. It’s important to note that there is no one particular “best process” to follow. Rather, it is the mere fact that some type of procedure is adopted and followed.
Respect for the Family Dynamics There is a large body of evidence to show that the most failures in the transfer of a business to the next generation are the result of the failure to recognize and value the concerns of all affected family members. Focusing on the family as well as on the business can enrich both.

84% of family businesses achieve a successful succession when an orderly transition plan is put in place.

To help family businesses continue to the next generation, we have combined these two strategies into The Succession SolutionSM, a 5-step approach to review, prepare an execute on a customized succession plan for your business.

For more information or to download a copy of The Succession Solution

Education & Credentials

Education

University of Pittsburgh, J.D. Cum Laude; Law Review, Order of the Coif; Robert Maxwell DeBroff Award
Pennsylvania State University, B.S.

Bar Admissions

Commonwealth of Pennsylvania
Pennsylvania Supreme Court
U.S. District Court for the Western District of Pennsylvania
U.S. Tax Court

Thought Leadership

The Succession SolutionSM The Stategic Guide to Business Transition April, 2019
How to Make Sure Your Will and Estate Plan is Always the Right Fit – July, 2017
Planning Helps Put the Success in Succession Ignite | November 2016 | Quoted
Celebrities Who Die Without a Will Leave a Dubious Warning – May 2016
Succession Planning is No Laughing Matter – Working PArts | Winter 2016
Power of Attorney for Young Adults – July 2015
Two Documents Every 18 Year Old Should Sign Forbes | 8.15.2014 | Quoted
Choose Your Own Roles, Realize Your Purpose Through the Roles You Live – 3.6.2014
Succession planning for business owners – TechVibe Radio | 7.20.2013 | Interview
Successful Succession Planning – Part Two Industrial Distribution | 4.4.2013 | Interview
Successful Succession Planning – Part One Industrial Distribution | 3.29.2013 | Interview
Succeed Where Most Fail in Continuing Your Company’s Legacy – Pittsburgh Business Times | 10.19.2012
Who’s Taking Over the Family Business? – U.S. News and World Report | 5.2012 | Quoted
Rules of the Game Bloomberg News | 3.31.2001 | Interview
State Business Trusts Offer Slew of Tax, Liability Benefits – Pittsburgh Business Times | 5.7.1998
Choice of Entity Selection Dynamic News | 1993
Environmental Compliance for the Business Manager – P.I.C.P.A. Journal | 5.1989
Questions for the 1982 Presidential Candidates – P.I.C.P.A. Newsletter | 11.1988
Fiscal Year Retention Regulation – Anything but Relief P.I.C.P.A. Newsletter | 7-8.1988
Frantz or Fink: Unitary or Fractional View for Non-Prorata Stock Surrenders University of Pittsburgh Law Review, 48 Vol. 3 | 1987 | Cited by the United States Supreme Court

Board Member, YPO Gold – Pittsburgh Chapter
Member, Finance Council of Regina Coeli Parish
Member, Advisory Board of the Catholic Diocese of Pittsburgh Planned Giving
Past Chair, University of Pittsburgh Board of Trustees Audit Committee
Former Member, University of Pittsburgh Board of Trustees Executive Committee
Past Chair, La Roche University Board of Trustees
Former Member, La Roche University Executive Committee
Past Vice Chair, La Roche University Board of Trustees
Past Chair, YPO Gold – Pittsburgh Chapter
Former Board Member, Young Presidents’ Organization
Former Board Member, Catalyst Connection
Former Member, UPMC Passavant Hospital Board of Trustees
Former Member, Passavant Hospital Foundation Board of Trustees
Former Member, Strategic Advisory Council of the McGowan Institute for Regenerative Medicine
Former Board Member, WISH Foundation
Former Member, Advisory Committee of the Community College of Allegheny County
Chairman of Building Fund, St. John Neumann Parish
Former Chairman of Building Fund, Former Board of Director and Past President, The Northern Allegheny County Chamber of Commerce
Former Board Member, General Carbide Corporation
Former Board Member and General Counsel, Ingomar Franklin Park Baseball Association
Past Program Chair, Allegheny County Business Law Section
Past Chairman, Fundraising Committee and Former Board Member, Pittsburgh Youth Symphony Orchestra
Past Chairman, Western PA Tax Conference
Former Board Member, Fort Pitt Capital Mutual Fund