DIG Insurance & Business Magazine Fall 2019 | Page 5

GENERATION NEXT
Now, with
a shared vision,
planning in place, and
each child working toward
individual goals, the Hannas’
businesses are perpetuating into the next
generation—and hopefully, beyond.
opportunity for this business, so after
school, I came back full-time and helped
the restaurants grow,” he says.
As for Frank Jr., he decided to pursue an
MBA and move into the financial planning
field. “When Frank Jr. left, it kind of rocked
my world because he was the oldest and I
I thought he would be the one to take the
restaurant, but it turned out Wes really
wanted it and was passionate about it,”
he relates. “But then, just as important,
Frank ended up in estate planning and
wealth management, and now he has that
business that also plays into our business.”
ESTATE PLANNING
Frank Sr. shares that a great deal of estate
planning has gone into the process.
He created a family partnership for some
of his real estate holdings, along with a
dynasty trust. Each child holds 33 percent
of the family partnership, with Frank Sr.
maintaining one percent.
“The idea is to get it out of my hands, and
that started about 25 years ago,” he says
of the planning. “I think a lot of businesses
don’t last for more than one generation
because they don’t plan properly, and then
estate taxes can put so much pressure
on them, they’re forced to sell. We feel like
we’ve got a good situation. We didn’t want
to sell the business—we wanted to hold on
to it for our children, and hopefully for our
grandchildren. We want to pass it down,
which I’ve already done for my children.”
Frank Sr. advises bringing in professionals
who can help design a transition strategy.
It takes a team. Deeley Insurance Group
writes insurance for all of Hanna’s
properties, including business interruption,
liability insurance, and health care. “They
have a lot of expertise and can help guide
a business,” he says.
individual goals, the Hannas’ businesses
are perpetuating into the next generation—
and hopefully, beyond.
UNDER CONSTRUCTION
CHANGING WITH THE TIMES
Business is not necessarily “as usual” for
the Hannas, and they like it that way. Wes
is putting his own stamp on the business,
and with Frank Sr. involved in real estate
transactions and overseeing properties,
everyone in the family has a role in growing
wealth and success—in their own way.
“I like to be creative,” Wes says. “I like
to see my ideas come to life and present
a youthful transition where we are evolving
into this next generation of restaurant and
bar—and I love to see the success.”
Wes admits he is competitive like his dad,
and shares his father’s eye for detail.
“I don’t know if it’s in our blood or if I got
it from watching my father,” he says.
Their working relationship has always
been positive, and that has helped the
transition over the years. “Growing up,
business was the main focus for us,” Wes
says. “And I’ve grown a healthy bond with
my father doing it.”
Now, with a shared vision, planning
in place, and each child working toward
When Joe Pino Sr. and his wife, Patricia,
started United Restoration Inc. in 1981,
they took on a range of construction
jobs—whatever the market demanded. “For
a while, my dad ran it as a paint company
with dozens of painters,” says Joe Pino Jr.,
who started learning the business in
a hands-on way when he was a teenager.
“Whatever opportunity there was, my dad
took it and ran with it,” Pino says.
His father loves working with customers
and guiding them through the restoration
process, which can be emotional after
tragedies like fires or flooding.
In the summers growing up, Pino worked
with crews doing carpentry, drywall, and
demolition. “I wasn’t the best,” he laughs,
“and my dad told me a decade later,
‘We threw you in there—you didn’t do
a great job. We had to come back and fix
some of your stuff, but we wanted you
to understand the business.’”
Joe Sr. didn’t want his son to walk into
management without learning the
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