Resnick Succession Group has played a significant role with both Gulfeagle Supply’s business succession planning as well as for our family’s federal estate tax concerns.
Their work began with a review of our existing life insurance planning and although we have an excellent team of attorneys, CPA’s and bankers, the recommendations that Terry and Lee provided, and we ended up implementing substantially improved the life insurance portfolios that my family and I have. The life insurance contracts have iron clad guarantees and they researched the entire marketplace, so we were assured that we received the most competitive pricing available as well.
I think one of the “missing components” for many successful business owners and entrepreneurs, is not realizing the importance of proper due diligence of life insurance companies and policy types. The utilization of life insurance funding for buy-sell agreements and estate liquidity concerns is of equal and maybe even more importance than the legal documents and company valuations that also play vital roles.
We are in a much better planning position than we were prior to working with Resnick Succession Group and my family and I look forward to continuing to utilize the firm well into the future.
James Resch, CEO Gulfeagle Supply Tampa, Florida Gulfeagle Supply is the Largest Family-Owned and Managed Roofing Distributor in the United States and has 110 locations
Maverick Transportation, as well as myself and my family have worked with Resnick Succession Group for over two decades. Lee and Terry have played an integral role in Maverick's business succession planning, as well as my and my children’s personal estate planning.
We started Maverick in 1980 at ground zero and now employ over 2,000 people while operating 1,500+ trucks serving the steel, building material, architectural flat glass, and marine industries. We've worked hard and have a lot to be proud of, which also means we have a lot to protect. Lee and Terry have been a valuable resource throughout our growth and have always been extremely responsive, timely, and caring from day one.
Steve Williams, Chairman and CEOMaverick Transportation, LLCLittle Rock, ArkansasMaverick Transportation, LLC has over 2,000 employees and operates 1,500+ trucks
I have had the pleasure of working with Resnick Succession Group since 2006. I first met Terry and Lee at one of our industry's annual conferences where they provided a business succession and estate planning educational seminar for our business owners. Watching them present their seminar I was immediately impressed with their knowledge and felt that they may be able to further enhance my existing planning. I let them know that I had a strong advisory team that included my attorney and CPA, and they would need to work with my existing advisors. Not only did they work with my existing advisors, but they all became a coordinated team which pleased me even more.
In addition to the planning Terry and Lee put in place which significantly protects our business and family assets, the genuine concern they have shown for me and my family is equally impressive and means so much. I value the relationship we have built, and I can't say enough good things about the work they've done!
Karolyn Neupert Gordon, Chairman Consolidated Supply Co. Portland, OregonConsolidated Supply Co. has a workforce of more than 500 employees
In 1986, I created Appliance Factory and Mattress Kingdom literally out of my garage. Today the company is one of the largest appliance retailers in the United States with 25 locations in four states and we employ 600 people.
I started working with Resnick Succession Group in 2012. I met Terry and Lee at an educational seminar they presented and wanted to see what they may be able to do to protect my business and non-business assets. The timing was such that I knew it was a high priority to focus on my business succession and estate planning and I wanted to make sure that it was done right. Terry and Lee established strategies that will have a huge impact in both protecting my assets and allowing for eventual estate taxes to be paid in the most cost-efficient manner.
Even though Resnick Succession Group has a national client base, I couldn't have had better service and responsiveness over the years if they were located right here in Denver.
Charles Ewing, CEOAppliance Factory and Mattress KingdomDenver, ColoradoAppliance Factory and Mattress Kingdom is one of the largest appliance retailers in America
Koopman Lumber Company was founded by our grandfather, Peter Koopman, in 1939. KLC has experienced a lot of changes in our over 80 years of business as we now have 11 locations and over 400 employees. Our goal of maintaining KLC as a family business is as strong today as it has ever been, and we now proudly have the 4th generation of family members involved.
We have worked with Lee and Terry Resnick and Resnick Succession Group since 2015. They have played a key role in both our buy-sell agreement structuring and funding as well as transitionary planning. We have a tremendous peace of mind knowing that we can always rely on RSG when needed. We are also appreciative of their proactive approach and consistency in scheduling our periodic planning reviews.
We have built an outstanding professional relationship and friendship.
Dirk Koopman, CEODenise Brookhouse, CFOKoopman Lumber CompanyWhitinsville, MassachusettsKoopman Lumber Company has 11 locations and over 400 employees
Our family business, 2J Supply, an HVAC supply company is currently in our third generation of ownership. We are headquartered in Dayton, Ohio and have 10 branches throughout Ohio, Kentucky, West Virginia, and Indiana. 2022 marks our 60th year in business! It goes without saying that the company and our employees have meant the world to our family. Assuring that our family business properly transitioned to a third generation was of prime importance. In 2005, my brother Greg and I (second generation ownership) started working with Resnick Succession Group. From our initial meeting, Terry and Lee have always been professional and they have been a huge help in our planning. They put in the time and work and are always quick to reply if we call or email. We are appreciative of the continuity and consistency they've shown, now working with the third generation of 2J Supply ownership. It's been an enjoyable experience having both a business relationship while also enjoying spending time socially when they meet with us in Dayton.
Larry Trimbach, 2nd Generation Owner2J SupplyDayton, Ohio2J Supply has 150 employees
Our company, DPS, is a luxury plumbing supply and fixtures company, based in the Bay Area. We are a family owned business, and we truly believe in quality – not only for our customers, but for us, too! When it comes to quality, we cannot be more pleased with the work provided by Resnick Succession Group!
Prior to meeting Lee and Terry, we had extensive personal and business planning in place and had a lot of bases covered. Even though we were very confident with our planning, Lee and Terry provided us such a strong comfort level that we thought it would be prudent to have an initial meeting. After listening and learning about our business succession goals, they were able to suggest a planning technique that we weren’t familiar with.
Their work has greatly enhanced our business succession planning. It provided peace of mind in knowing that our two children are now in the best position when we transition ownership of our company and that they'll be able to continue running DPS for many years ahead. We also appreciated that Lee and Terry respected our existing planning and did nothing to disrupt that. We know we can always count on them with their hard work, extremely impressive responsiveness, and genuine care. It’s been almost 10 years since we started working together and beyond a valued business relationship, we’ve built a true friendship!
Jeff and Diane Steves, OwnersDecorative Plumbing Supply, Inc.San Carlos, CaliforniaDecorative Plumbing Supply has 17 employees
Our company is a 5th generation owned lumber and building materials provider in Mississippi. We are constantly striving to find new ways to improve our business, ourselves, and our employees. In searching for new ideas for our business at an industry trade show, we attended a business succession seminar presented by Lee and Terry Resnick. They talked really fast compared to us Southerners, but they also were incredibly intelligent and confident in what they were talking about!! After listening to them, my dad and I knew that they were our guys to help us on some special succession projects as well as offer tax advice and help us become more educated on life insurance policies. Lee and Terry Resnick have been one of the best “finds” for me as a young, millennial, 5th generation business owner.
I came back to my family’s company almost eight years ago with bright hopes of successful transition and continued growth from my dad and the 4th generation. When we started working on our transition plan, we realized that we were competent as far as successfully transitioning the operations level of our business from one generation to the next; however, we were not aware of opportunities and tax threats, as well as opportunities available in the form of life insurance. Lee and Terry have become an incredibly valuable resource for us by setting up proper life insurance policies as well as helping us be best positioned for tax implications and other challenges from a federal perspective for successful succession.
Lee and Terry have truly become good friends and trusted confidants for many of my business matters. If I ever have a question, they are always willing to help and more importantly, take the time to truly educate and explain their reasoning and solutions.
I don’t know what I would do if we had not attended their presentation several years ago. They have helped me and my dad be more confident in our aspirations to grow our business and feel more secure personally to succeed in the long term. I cannot recommend Resnick Succession Group enough. Any family business owner, no matter the size or what stage of succession, should call them and just talk! They have your best interest in mind and want to help you succeed by "protecting, preserving, and enhancing your business!”
Ann Marie Chilcutt-Miller, Owner New Home Building StoresColumbus, Mississippi New Home Building Stores has over 35 employees
I’ve known Lee and Terry ever since our time together at KU. When my playing days in the NBA were over, I recognized that I needed to address my own planning and reached out to them. Lee and Terry listened to what my objectives were and helped me find a solution. I always receive immediate help and answers whenever needed.
Kevin Pritchard, President of Basketball OperationsIndiana PacersIndianapolis, IndianaUniversity of Kansas National Champion, Retired NBA Player and Current NBA Executive
Time sure flies, as I’ve been working with Resnick Succession Group for a quarter of a century! When I first met Lee and Terry Resnick, I owned American Pre-Sort, based in Kansas City and employed over 100 people. None of my children were interested in taking over the company, so I knew I would eventually turn to outside sale, which took place in 1998. It was of the utmost importance for my wife and me to establish planning for our estate so that we would limit the tax burden and make sure that our life's hard work benefited our family while minimizing the IRS's take.
Resnick Succession Group spearheaded finding us an excellent estate planning attorney and they worked together to establish a plan that would accomplish our objectives. Resnick Succession Group incorporated the highest quality life insurance planning with our trust planning and also worked with our bank’s trust department.
After all these years, we still receive the same caring and timely responsiveness as we did from the very beginning. This is something that seems to be lost in today’s environment. I’d highly recommend Resnick Succession Group to any privately held business owner that wants to preserve their business and non-business assets!
John Hlavacek, Founder and Former OwnerAmerican Pre-SortKansas City, KansasAmerican Pre-Sort employed more than 100 people at time of sale
Resnick Succession Group has been an integral part of my family’s plan. RSG implemented a life insurance policy many years ago as part of my overall financial planning strategy. The primary objective of acquiring life insurance was to protect my family in the event of my premature passing. I had had term life at the time, but felt that was not enough to accomplish my long term financial goals. RSG, along with the macroeconomic specialist they partner with, were able to educate me how permanent life insurance, when structured properly, allows for so much more than just the death benefit and clearly made more sense for me and my family’s situation than term insurance. I've been an interventional radiologist for 25 years; however, my educational background includes having an undergraduate degree from the University of Pennsylvania's Wharton Business School. Prior to working with RSG, my belief was to acquire term insurance which I viewed as "much cheaper" than permanent insurance and I would utilize the difference for other investment opportunities. To this day, I am very pleased that I decided to acquire the policy that RSG recommended instead of term insurance as it has worked very nicely in coordination with other financial projects I've developed. I’ve used the loan component as well to accelerate growth in my financial portfolio. My policy has provided and will continue to provide an extremely valuable component of my overall portfolio. Finally, I wanted to express my appreciation for how RSG has continued to be there for me. Whenever I, or anyone else from my advisory team, need any information related to the policy, I know I can count on them to expeditiously take care of it. It provides a peace of mind knowing that they are as responsive today as they were when we first started working together 15 years ago. Terry is simply a super person on my team. And Lee too. Love them and the efforts they make on my behalf.
Jay Goodman, M.D.Interventional RadiologistHarrisburg, Pennsylvania
No compensation has been paid to our clients for their testimonials. Their experience may not represent the experience of others nor predict future results.