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Succession Planning With Non-Owner As Successor

Succession Planning With Non-Owner As Successor
It is not unusual for a business owner to indicate that he or she is interested in leaving the business to a key employee or someone else who is not a current owner of the business. Even if the owner names someone else as the successor - like a family member or co-owner - retaining…
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Do Your Clients Already have A Buy-Sell Agreement?

Do Your Clients Already have A Buy-Sell Agreement?
Ask the business owner these questions to determine whether their current agreement needs to be updated: IS THE AGREEMENT BETWEEN ALL OF THE OWNERS OR JUST SOME OF THE OWNERS? A buy-sell agreement does not have to apply to all owners of a business, nor does it have to apply the same terms and conditions…
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What Succession Planning Questions To Ask?

What Succession Planning Questions To Ask?
If The Owner Wants To Leave The Business To His Family: -Would you like your business to remain in your family? -Are there family members currently active in the business? If so, is there one person that is more of a leader? -Do you have family members not involved in the business that you want…
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Did You Know?

Did You Know?
WALT DISNEY, used a loan from the cash value of his personal life insurance policy to finance its first theme park, Disneyland, in California. The owner of McDonald's used loans from his two cash value liofe insurance policies and bank loans to cover the salaries of key employees in the early years of the company.…
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Why is Life Insurance Lapse Rate High Amongst Retirees?

Why is Life Insurance Lapse Rate High Amongst Retirees?
A recent survey from ICR Custom Market Research, of more than 500 adults aged 66 and older showed that the majority of life insurance owners allow their policy to lapse. Generally, lapse rates in policies tend to go up during harder economic times, as consumers are forced to cut payments across the board. In addition,…
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