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SJBiz_20over40_0519v2FINAL_Layout 1 5 / 20 / 19 5 : 04 PM Page 9 Suzanne Farnoly AGE : Solutions Manager , American Asphalt Company 38 YEARS IN THE INDUSTRY : 4 Farnoly manages the solutions team at American Asphalt Company , which is responsible for all as - pects of parking lot maintenance . When Farnoly came to American Asphalt Com - pany in 2015 , she had no previous construction or estimating experi - ence . She is grateful to Bob Brown , president of American As - phalt Company and Dave Sulkin , business development , for taking a chance and affording her an op - portunity to learn the asphalt in - dustry and prosper within the company . In her short time with American Asphalt , she has helped to build a strong foundation and hopes to continue on a path to success . 10 - year goal : “ My 10 - year goal is to strengthen the relationships American Asphalt has built and continue to grow the business , while always pri - oritizing customer service . ” What advice would you give to other young “ Learn something every day . It is professionals ? so important to remember that there are always opportunities for growth . ” Daniel L . Blanchard AGE : Senior Litigation Associate , Lauletta Birnbaum 35 YEARS IN THE INDUSTRY : 8 After graduating from the University of Pennsyl - vania in 2005 , Blanchard obtained his Juris Doc - tor and a master’s in public administration from Syracuse University . Prior to joining Lauletta Birn - baum , he worked as an assistant district attorney for the Philadel - phia District Attorney’s office and as a law clerk to the Honorable Lee A . Solomon of the New Jer - sey Supreme Court . He also was a clerk for the Honorable Gwen - dolyn Blue of the Camden County Superior Court . Blanchard has served on the board of the Lutheran Settlement House , a nonprofit organization providing social , educational , employment and counseling services to adults , youth , fami - lies and seniors in Philadelphia . He currently lives in Haddonfield with his wife and two young chil - dren , with No . 3 on the way . 10 - year goal : “ Ten years from now I would love to be a judge . ” What drew you to your field ? “ What drew me to law was the ability to counsel and assist individuals and businesses as a trusted advisor and advocate . ” w 50 | SOUTH JERSEY BIZ | VOLUME 9 ISSUE 5 | SouthJerseyBiz.net
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SJBiz_SuccessionPlanningSAS_5_19_SAS 5 / 20 / 19 4 : 56 PM Page 1 SPECIAL ADVERTISING SECTION SHOULD WE EVER CONSIDER AN ASK THE ANNUITY AS PART OF OUR SUCCESSION PLANNING EXPERTS RETIREMENT PLAN ? As you approach your retirement , an annuity WHY IS IT EXTREMELY IMPORTANT WHAT IS THE MOST IMPORTANT STEP can be used ( inside your IRA / ROTH IRA ) if FOR YOU TO HAVE A SUCCESSION IN MAKING A SUCCESSION PLAN ? you are looking to assure yourself an income PLAN FOR YOUR FAMILY - OWNED Get your accounting records in shape . You that you can’t outlive . Also an annuity can BUSINESS ? can’t prove your worth if you can’t show ac - be used to provide safety , security and pro - Proper succession planning is the best way curate details about sales , profit margins tection of principal by eliminating market to prepare for unexpected circumstances to and expenses overtime . Clean up duplicate losses . ensure your business can continue to operate or inactive accounts and verify that all cus - LEE S . MOLOTSKY as seamlessly as possible through an un - tomer and vendor information is accurate . SHM Financial Group | Voorhees foreseen event — allowing you to continue JULIE STROHLEIN , CPA 1 ( 800 ) MONEY - SHM supporting your family without disruption . Alloy Silverstein | Cherry Hill SHMFinancial.com CHRISTI GALLAGHER ( 856 ) 667 - 4100 | AlloySilverstein.com Friedman LLP | Marlton WHAT SHOULD A COMPANY OR ( 856 ) 830 - 1677 | FriedmanLLP.com WHY IS IT SO IMPORTANT FOR ME TO OWNER DO TO PREPARE FOR THINK ABOUT SUCCESSION PLAN - SELLING , MERGING OR WHY IS IT IMPORTANT TO CONSULT NING WELL IN ADVANCE OF MY TRANSFERRING THEIR BUSINESS ? WITH AN ATTORNEY FOR YOUR RETIREMENT ? Effective successions begin with clearly de - BUSINESS SUCCESSION PLANNING ? All too often business owners are busy fined individual and corporate goals . While Consulting with a corporate attorney about building a successful company — not focusing maximizing value and minimizing taxes are succession planning is critical for identifying on the future legacy of the business . A suc - “ givens , ” honoring legacies — family , com - risks and minimizing the potential negative cession plan is a crucial element to ensure pany stakeholders , philanthropy — is no less effects of key staff departures . Ensuring continuity especially in family - owned busi - important . Starting with carefully executed smooth transitions involves following best nesses . Do it now and save time , money estate and business planning is essential to practices and being aware of important and emotions later . an owner’s vision . concerns like tax consequences . RAYMOND GIUNTA , CPA / PFS BLAIR TALTY MARIEL J . GILETTO Baratz & Associates , PA and CORA Wilmington Trust | Cherry Hill Parker McCay P.A . | Mount Laurel Capital Advisors | Marlton w ( 856 ) 330 - 8012 | WilmingtonTrust.com ( 856 ) 596 - 8900 | ParkerMcCay.com ( 856 ) 985 - 5688 | BaratzCPA.com SouthJerseyBiz.net | VOLUME 9 ISSUE 5 | SOUTH JERSEY BIZ | 51