Family Business Institute Sets Waco Seminar for Aug. 26

by Alan Hunt

Baylor University's Institute for Family Business will present a seminar on "Liability Protection and Issues (Covering Your Assets)," the seventh program in its 1997 Waco Family Business Seminar Series, on Tuesday, Aug. 26, at the The Bear Lair, Floyd Casey Stadium.
The program will start at 7:30 a.m. with breakfast, followed by discussions led by Steve Fontaine of Stephen R. Fontaine, P.C. of Waco, and A. W. "Bill" Bailey, Jr. of Bailey Insurance & Financial Services, Waco.
Fontaine received a bachelor of arts degree from Baylor in 1972 and his doctor of jurisprudence with honors from the University of Texas in 1975. In general civil practice in Waco since 1976, he specializes in representing individual and small businesses in family and business matters. He is board certified in residential and commercial real estate and is involved in various civic organizations.
Bailey, who received a bachelor of arts degree and a doctor of jurisprudence from Baylor, serves as chairman of Bailey Insurance and Risk Management, Inc., Bailey Financial Services, Inc., Bailey Managing General Agency, Inc., and Wilkirson-Hatch Funeral Home, Inc., of Waco. Active in Waco civic affairs, he served as a Baylor regent for 18 years and has received the Distinguished Alumni Award.
Doris Sandberg, program director of the Institute for Family Business, said the program will focus on protecting assets from the "involuntary creditor." This will involve discussions of what property is exempt from creditor claims, what constitutes a fraudulent conveyance and how to make non-exempt property undesirable, she said.
"We will deal with the competing issues of how to have the benefit of the property without leaving it exposed. There are no magical answers that guarantee protection in all situations, but there are definitely some ways that are better than others."
The 1997 Waco Family Business Seminar Series was planned by the Institute for Family Business specifically for family-owned firms in the Waco area. Sandberg said, "The seminar series is designed to develop skills and strategies for a healthy family business."
The Institute for Family Business is a nationally-recognized organization that provides educational programs for family-owned businesses throughout the state. For more information about the Aug. 26 seminar program, call Sandberg at (254) 710-2265, extension 5.