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	<title>The Business Owner &#187; Estate &amp; Transition Planning</title>
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		<title>To Make a Bequest</title>
		<link>http://www.tbobeta.com/business-guidance/estate-transition-planning/2010/08/to-make-a-bequest</link>
		<comments>http://www.tbobeta.com/business-guidance/estate-transition-planning/2010/08/to-make-a-bequest#comments</comments>
		<pubDate>Mon, 09 Aug 2010 17:13:12 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Estate & Transition Planning]]></category>
		<category><![CDATA[Featured Articles]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/business-guidance/estate-transition-planning/2010/08/to-make-a-bequest</guid>
		<description><![CDATA[How can you stipulate who gets what at your death? A will.

What if your wishes change? Create a new will or amend your existing (by “codicil”). A codicil must conform to certain laws as to design and execution, just as the will must. You’ll want your attorney to assist you. Or just put your new wishes down on paper, then sign and date it. Actually, make three originals. Attach one to the copy of your will; give one to the attorney who created your will and one to the executor of your estate (as directed in the will).]]></description>
			<content:encoded><![CDATA[How can you stipulate who gets what at your death? A will.

What if your wishes change? Create a new will or amend your existing (by “codicil”). A codicil must conform to certain laws as to design and execution, just as the will must. You’ll want your attorney to assist you. Or just put your new wishes down on paper, then sign and date it. Actually, make three originals. Attach one to the copy of your will; give one to the attorney who created your will and one to the executor of your estate (as directed in the&nbsp;will).]]></content:encoded>
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		<slash:comments>0</slash:comments>
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		<title>Shelter Life Insurance Proceeds from Estate Tax</title>
		<link>http://www.tbobeta.com/business-guidance/estate-transition-planning/2008/09/shelter-life-insurance-proceeds-from-estate-tax</link>
		<comments>http://www.tbobeta.com/business-guidance/estate-transition-planning/2008/09/shelter-life-insurance-proceeds-from-estate-tax#comments</comments>
		<pubDate>Mon, 01 Sep 2008 21:54:44 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Estate & Transition Planning]]></category>
		<category><![CDATA[Hall Estill]]></category>
		<category><![CDATA[Henderson Financial Group]]></category>
		<category><![CDATA[IRS]]></category>
		<category><![CDATA[life insurance]]></category>
		<category><![CDATA[Risk Management]]></category>
		<category><![CDATA[tax law]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=661</guid>
		<description><![CDATA[Life insurance policies are taken out - in most cases - to provide financial benefits (i.e., money) to the heir(s) of the insured. For most people, the heir is the spouse, then children, then grandchildren.]]></description>
			<content:encoded><![CDATA[Life insurance policies are taken out - in most cases - to provide financial benefits (i.e., money) to the heir(s) of the insured. For most people, the heir is the spouse, then children, then&nbsp;grandchildren.]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Estate Taxes and The Estate Plan</title>
		<link>http://www.tbobeta.com/business-guidance/estate-transition-planning/2008/09/estate-taxes-and-the-estate-plan</link>
		<comments>http://www.tbobeta.com/business-guidance/estate-transition-planning/2008/09/estate-taxes-and-the-estate-plan#comments</comments>
		<pubDate>Mon, 01 Sep 2008 18:48:48 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Estate & Transition Planning]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=1830</guid>
		<description><![CDATA["Estate tax" is a tax levied, at the time of your death, on the total value of your possessions. Affectionately referred to as a death tax, the estate tax was enacted as a way to redistribute wealth and avoid the undesirable concentration of excessive wealth within a few families.]]></description>
			<content:encoded><![CDATA["Estate tax" is a tax levied, at the time of your death, on the total value of your possessions. Affectionately referred to as a death tax, the estate tax was enacted as a way to redistribute wealth and avoid the undesirable concentration of excessive wealth within a few&nbsp;families.]]></content:encoded>
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		<title>Trouble Finding a Buyer for Your C-Corp Stock? Consider the ESOP</title>
		<link>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/trouble-finding-a-buyer-for-your-c-corp-stock-consider-the-esop</link>
		<comments>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/trouble-finding-a-buyer-for-your-c-corp-stock-consider-the-esop#comments</comments>
		<pubDate>Wed, 01 Nov 2006 21:26:54 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Estate & Transition Planning]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=1564</guid>
		<description><![CDATA[If you own a business organized as a C-corporation, you could face a wealth-draining dilemma when you try to sell. ]]></description>
			<content:encoded><![CDATA[If you own a business organized as a C-corporation, you could face a wealth-draining dilemma when you try to&nbsp;sell. ]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Don’t Sell. Retirement’s for Wimps!</title>
		<link>http://www.tbobeta.com/business-guidance/buying-selling-a-business/2006/11/don%e2%80%99t-sell-retirement%e2%80%99s-for-wimps</link>
		<comments>http://www.tbobeta.com/business-guidance/buying-selling-a-business/2006/11/don%e2%80%99t-sell-retirement%e2%80%99s-for-wimps#comments</comments>
		<pubDate>Wed, 01 Nov 2006 21:25:28 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Buying & Selling a Business]]></category>
		<category><![CDATA[Estate & Transition Planning]]></category>
		<category><![CDATA[Retirement Planning]]></category>
		<category><![CDATA[selling a business]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=1561</guid>
		<description><![CDATA[Heck no. You don't have to retire. Strom Thurmond remained a U.S. Senator through the age of 100. Dwight Hauff is 101 and owns Hauff Sporting Goods in Sioux City, Iowa. Jack Weil is 104 and still owns Rockmount, a Denver-based manufacturer of Western shirts. Carl Stevens is 86 and owns Total Plumbing.]]></description>
			<content:encoded><![CDATA[Heck no. You don't have to retire. Strom Thurmond remained a U.S. Senator through the age of 100. Dwight Hauff is 101 and owns Hauff Sporting Goods in Sioux City, Iowa. Jack Weil is 104 and still owns Rockmount, a Denver-based manufacturer of Western shirts. Carl Stevens is 86 and owns Total&nbsp;Plumbing.]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
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		<title>Sell It, Make a Bundle and Get to the Good Life!</title>
		<link>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/sell-it-make-a-bundle-and-get-to-the-good-life</link>
		<comments>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/sell-it-make-a-bundle-and-get-to-the-good-life#comments</comments>
		<pubDate>Wed, 01 Nov 2006 21:20:11 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Estate & Transition Planning]]></category>
		<category><![CDATA[merging and acquiring companies]]></category>
		<category><![CDATA[selling a business]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=1552</guid>
		<description><![CDATA[Who wouldn't want to retire? Sell the company and put money in the bank? Have the time and freedom to travel, play tennis, exercise and volunteer? Spend more time with the grandkids?]]></description>
			<content:encoded><![CDATA[Who wouldn't want to retire? Sell the company and put money in the bank? Have the time and freedom to travel, play tennis, exercise and volunteer? Spend more time with the&nbsp;grandkids?]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Pros and Cons of ESOP</title>
		<link>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/pros-and-cons-of-esop</link>
		<comments>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/pros-and-cons-of-esop#comments</comments>
		<pubDate>Wed, 01 Nov 2006 21:18:19 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Estate & Transition Planning]]></category>
		<category><![CDATA[C-corporation]]></category>
		<category><![CDATA[Employee Stock Ownership Plan]]></category>
		<category><![CDATA[sell stock]]></category>
		<category><![CDATA[zero tax]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=1549</guid>
		<description><![CDATA[Benefits to Business Owners Selling by ESOP]]></description>
			<content:encoded><![CDATA[Benefits to Business Owners Selling by&nbsp;ESOP]]></content:encoded>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Never Let the Buyer Work in the Business!</title>
		<link>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/never-let-the-buyer-work-in-the-business</link>
		<comments>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/never-let-the-buyer-work-in-the-business#comments</comments>
		<pubDate>Wed, 01 Nov 2006 21:17:38 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Estate & Transition Planning]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=1546</guid>
		<description><![CDATA["After the troops have crossed the bridge, burn it," ordered the battalion&#160;commander.
"But that's our only way out!" shouted a shocked&#160;lieutenant.
"Yes, burn the bridge," insisted the commander. "Our only option will be to defeat the&#160;enemy."
Sometimes, if the job is really tough, the only way to ensure success is by making it the only&#160;option.
Assuming ownership of a [...]]]></description>
			<content:encoded><![CDATA[<p>"After the troops have crossed the bridge, burn it," ordered the battalion&nbsp;commander.</p>
<p>"But that's our only way out!" shouted a shocked&nbsp;lieutenant.</p>
<p>"Yes, burn the bridge," insisted the commander. "Our only option will be to defeat the&nbsp;enemy."</p>
<p>Sometimes, if the job is really tough, the only way to ensure success is by making it the only&nbsp;option.</p>
<p>Assuming ownership of a new business is one of those tough, scary-as-heck&nbsp;jobs.</p>
<p>It's tough for the business buyer. It's also tough for the seller, employees, vendors, customers, et al. Nobody's comfortable with change. In a business purchase-sale transaction, if you don't burn the bridge, retreat will be the more likely&nbsp;result.</p>
<p>One of my favorite quotes is: "The path of least resistance makes crooked rivers and crooked men." Buying a business is not easy. Neither is selling one. An often-discussed and occasionally attempted "path of least resistance" is to "let the buyer work in the business for a while." That way, the buyer can get more comfortable with what he is buying and the seller doesn't have to immediately and abruptly begin life absent the "owner" title. This is a natural "middle ground." But it does not&nbsp;work.</p>
<p>I know, your situation is different. So go ahead. But be prepared to waste a lot of time and energy. Or&nbsp;worse.</p>
<p>Buyers unwilling to take the plunge either don't have the money or don't have the guts. Or they could have other plans altogether. Take the case of Paul Westing. He owned a company, and finally found a buyer - Kelly - who was willing to pay a fair price. He was also a very nice person. Kelly did have money - quite a bit - but darn it if by a strange quirk he could not get his hands on it just yet. His explanation made sense, so it was decided that Kelly would work in the business until his money became available. All the better, it&nbsp;seemed.</p>
<p>Four months into the arrangement, Kelly failed to show up for work. Turns out he had embezzled cash, credit cards and other valuables. Another lesson here: If the buyer is offering more than others, there may be a good&nbsp;reason.</p>
<p>Sellers also get cold feet. Serious buyers (those with both guts and&nbsp;money)</p>
<p>should be aware of this. Ask Danny Gainsburg. He worked out a deal with the owners of a very successful bookstore. Together, they agreed on the path of least resistance. They'd "move slowly" and introduce the buyer over a few years. But the employees became suspicious and, once the plans were announced, resented the subterfuge. And, of course, the employees were not comfortable with a new boss. He was different. The employees undermined the newbie and eventually the buyers buckled under pressure. Mr. Gainsburg wasted two years of his&nbsp;life.</p>
<p>Yes. Maybe your situation will be different. But take it from a guy who has spent years putting buyers and sellers together. The business purchase-sale transaction is one that is tough for all involved. I don't recommend that you first dip in your big toe. Wait until you're good and ready. Then take off all your clothes and dive&nbsp;in.</p>
]]></content:encoded>
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		</item>
		<item>
		<title>Going Public: Dream or Reality?</title>
		<link>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/going-public-dream-or-reality</link>
		<comments>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/going-public-dream-or-reality#comments</comments>
		<pubDate>Wed, 01 Nov 2006 21:09:40 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Estate & Transition Planning]]></category>
		<category><![CDATA[Business Ownership]]></category>
		<category><![CDATA[cost effective]]></category>
		<category><![CDATA[entrepreneurial]]></category>
		<category><![CDATA[going public]]></category>
		<category><![CDATA[google]]></category>
		<category><![CDATA[investors]]></category>
		<category><![CDATA[liquidity]]></category>
		<category><![CDATA[privately owned business]]></category>
		<category><![CDATA[Sarbanes-Oxley legislation]]></category>
		<category><![CDATA[youtube]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=1531</guid>
		<description><![CDATA[Many private business owners dream of "going public." It's the ultimate entrepreneurial status symbol. Build a company and take it public? Well, you've really done something.]]></description>
			<content:encoded><![CDATA[Many private business owners dream of "going public." It's the ultimate entrepreneurial status symbol. Build a company and take it public? Well, you've really done&nbsp;something.]]></content:encoded>
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		</item>
		<item>
		<title>For Sale by Owner?</title>
		<link>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/for-sale-by-owner</link>
		<comments>http://www.tbobeta.com/business-guidance/estate-transition-planning/2006/11/for-sale-by-owner#comments</comments>
		<pubDate>Wed, 01 Nov 2006 21:08:13 +0000</pubDate>
		<dc:creator>Stephanie</dc:creator>
				<category><![CDATA[Estate & Transition Planning]]></category>
		<category><![CDATA[Business Ownership]]></category>
		<category><![CDATA[legal expert]]></category>
		<category><![CDATA[selling a business]]></category>
		<category><![CDATA[tax expert]]></category>

		<guid isPermaLink="false">http://www.thebusinessowner.com/?p=1528</guid>
		<description><![CDATA[Remember the old saying: "The person who represents himself has a fool for a client"? Athletes, highly paid executives and persons involved in legal disputes adhere to it. Unfortunately, some business owners do not.]]></description>
			<content:encoded><![CDATA[Remember the old saying: "The person who represents himself has a fool for a client"? Athletes, highly paid executives and persons involved in legal disputes adhere to it. Unfortunately, some business owners do&nbsp;not.]]></content:encoded>
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