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Three Levels of Business Succession Planning

One of the chief concerns facing family business owners is how to effect an orderly and affordable transfer of the business to the next generation and/or key employees. Failure to properly plan for a smooth transition can result in monetary losses and even loss of the business itself. This article will explain how to keep the family business in the family.

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Top 10 Uses of Life Insurance in a Family Business Succession Plan

Most family business owners want to keep the family business in the family. This article addresses how life insurance plays an important role in business succession planning.

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Planning for a business transition

Business transition planning is preparing for the handover by sale, but-out, or take-over following the demise of the owner. This is accomplished through corporate governance documents like an operating agreement or partnership agreement.

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Five Steps to Planning a Successful Business Exit

The key to any successful Business Exit Strategy is planning. The five (5) planning steps outlined in this article are designed to help business owners define their personal goals, understand all the transfer options, and work with an advisory team to execute a successful business exit.

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Due Diligence 101 Or What You Do Not Know Can Kill you!

Introduction: This article is written as a general discussion on the subject of “Due Diligence”. It is for informational purposes and not intended to be a definitive guideline for your exact situation. You should consult the appropriate professionals with regard to your specific transaction or situation. Further, this article is in no way advocating, suggesting or implying that anyone engages in any type fraudulent activities whatsoever. These are simply the things a buyer should be aware of when doing due diligence in buyer a business.

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Business Exit Strategies - ‘Internal’ Transfers versus ‘External’ Transfers

In this article, John M. Leonetti, Esq., M.S. Finance, CM&AA compares the ‘internal’ transfers of businesses to the ‘external’ transfers of businesses, and why it is important for business owners to consider both Business Exit Strategy alternatives.

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AN OVERVIEW - COPYRIGHT LAW

Copyright is a legal term refers to protecting a creator’s work. It is a type of intellectual property that provides exclusive publication, distribution, and usage rights for the creator. This means whatever content is created cannot be used or published by anyone else without the consent of the creator. The length of copyright protection may differ from country to country, but it usually lasts for the life of the author plus 50 to 100 years. Copyright is generally given by the law to creators of literary, dramatic, musical and artistic works and producers of cinematograph films and sound recordings.

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IRA Distribution Rules at Death: Critical Knowledge for Good Decisions

Your IRA could be one of your biggest assets. Do you know the IRA distribution rules at death? Do you have your IRA set up so your desires match the rules? Here's a quick primer that could help you avert costly mistakes.

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Business Owners Need to Start Growing Into Their Exit

Today, many business owners are realizing that it’s time to get their company in shape in order to prepare for an exit. Therefore, it’s imperative for owners to start running their businesses with an exit strategy in mind, focusing on the profitability, sustainability, and transferability.

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Abandoned Properties: Locating the Owners Part II

Last month I told you about the opportunity abandoned property can represent as a new investment strategy. Knowing that these properties exist is only half the battle, especially if you don't have a clue as to how to go about locating the owner. While the owner's can sometimes be difficult to locate, if you're willing to put on a detective's hat, you can usually locate them fairly easily.

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5 Factors to Consider Before Choosing Vacation Rentals in Eleuthera

If you plan on visiting Eleuthera, where you stay will affect how much fun you have. Consider these factors when choosing vacation rentals in Eleuthera.

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An Alternative to a Buy-Sell Agreement

While the no-sell/buy-sell may not work for everyone, it is a unique and potentially beneficial alternative to the traditional automatic buy-out upon the death or retirement of the business owner. The benefits to the participants, including the surviving owners, can be substantial. No longer need the last man standing be the big winner.

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How to Protect your Business Assets

There is a famous saying that the failure to plan is a plan to fail. That appropriately addresses what happens when a business owner dies without any documents to address the transition of the business. In that case the business owner can leave a disaster for those who survive. An easy solution is to have an experienced business lawyer prepare a simple document to allow a surviving spouse, employee, or other beneficiary to instantly take over and run or wind up the business. This allows the survivor to take advantage of the value of the business at the time of the owner’s death for the benefit of whom ever the owner desire like family or charity.

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Talking the Language of Exits

Today's business owner is largely without a solid plan for the exit from their business, despite the fact that it is the most important financial (and lifestyle) transaction of their lives. The delivery of this message begins with an 'exit conversation' with business owner prospects and clients. This is where the 'rubber meets the road' and advisors need to be willing and able to begin this conversation and follow through on delivering exit solution to owners.

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Using Life Insurance in Business Succession Planning

This article summarizes the many ways that life insurance can be used in a family business succession plan, and the advantages of using life insurance.

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