The Liquidity and the Harmony Problem

Sep 22 2015

If you are a business owner and care about your family, the biggest deal for your business and your family is to put your affairs in order!
If you didn’t show up for work today, would your family know...

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If you don’t know where you’ll be in 5 years, you’re already there

Aug 15 2014

We have all heard the statistics that 90 percent of Family Owned Businesses will not survive past the second generation. Many entrepreneurs are aware of this trend, and are prepared to do...

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Death and Taxes are a certainty according to Benjamin Franklin.

Jan 15 2014

Reprint courtesy of Eric Jay Decetis, all rights reserved
EricDecetis.com

When the key owner and founder of a successful family enterprise dies this event oftentimes creates two additional certainties.. a liquidity  problem for the surviving family members especially the spouse and a harmony problem created by children...

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Flight Simulators, Musical Bands, and Succession and Estate Planning for Family Enterprises

Sep 17 2013

 

Flight simulators are excellent tools to test whether or not a pilot is ready to fly on her own without actually taking a multi-million plane in the air.  Can you imagine booking your next flight to London with a pilot who has a flight plan but has never tested the plan by actually flying a few times? So this begs the question,

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Two Leveraged Insurance Strategies Get the Axe!

Mar 25 2013

Federal Budget 2013

The purpose of this e-mail is to make you aware of the provisions of the Federal Budget that significantly affect two Life Insurance Strategies involving Leverage.

I would recommend you do the following as soon as possible.

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Family Agreements can protect your Family Enterprise and your Family!

May 4 2012

Succession and Estate Planning for most people involves having an up to date will and some life insurance and for many people this may be enough.  If you are the owner of a first or second generation family enterprise a well constructed will and some life insurance is considered by most professional financial advisors as a minimum requirement. These two things, although very important, may not be enough...

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Have you ever acted as Executor? If so you know that…..

May 4 2012

There is usually a voracious appetite for cash to pay creditors, bankers, accountants, and lawyers, out of the testator’s estate.  The residue (“whatis left over”) of your estate after everything is paid goes to your family or a charity.  This is usually the same for everyone including owners of private family companies who someday will walk out permanently at death. However, they may also see at least one third of the capital in their business walk out as well...

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Permanent low guaranteed cost life insurance policies may be going the way of “buggy whips”!

Apr 17 2012

Life insurance companies are undergoing the perfect storm of persistently low interest rates, changing accounting rules for asset reporting, and new CRA changes limiting over funding of permanent life insurance policies. The most significant of these items is persistently low interest rates...

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Critical Illness policies inside a Group Accident & Sickness Plan still a great benefit… just not as great as they used to be!

Apr 17 2012

More and more owners of small to medium sized family enterprises are structuring permanent critical illness plans inside a Group Accident & Sickness Plan for the owner and other key employees as a key benefit.

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Making Beautiful Music Together

Apr 6 2011

Is there harmony or disharmony in your family business?

In most cases, the answer is yes, but many business owners don’t even want to answer the question.  When it comes to talking about their family and their business in the same sentence, many business owners cringe.  They don’t want to touch the subject.  It is not their comfort zone.

This is a problem.  If business owners don’t face the music about their family and their business, there will most likely be a lot of discord today and into the future...

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