Estate Planning

Planning for the future success – or survival – of your business | Part 2

Planning for the future success – or survival – of your business | Part 2

In our last article we broached the subject of Estate Planning. Many business owners put off thinking about how, and to whom, their business will be passed when they die. While every business owner’s estate plan is unique; here are 7 areas that should be addressed: 1. WILLS AND POWERS OF ATTORNEY: Having a will is particularly important in the case of a business owner. Among its many benefits; in the event of unexpected death, the will can provide the executor with instructions on how to deal with the business, and who will have the power to make decisions. A business owner can use a will to address the issue of equalizing bequests between children who are active in the business and those who are not. Contact us to help with your succession planning. Your business is probably the largest…read more →

Planning for the future success – or survival – of your business

Planning for the future success – or survival – of your business

When we broach the subject of estate planning with clients, who are small-business owners, we ask them about their contingency plans. “God forbid, you’re stuck somewhere overseas – who’s running your business?” That concept is something that people can grasp. They can see themselves tied up for a short period. Many business owners put off thinking about how, and to whom, their business will be passed when they die. Failing to put an estate plan in place can jeopardize the future success – or, indeed, the very survival – of a business and potentially unravel a lifetime’s work on the part of the owner. We give you the confidence about the decisions you need to make. Your business is probably the largest asset on the balance sheet, and some business owners are not treating it with the same respect as…read more →

Succession Planning

Business owners are in a unique position of needing to ensure their family has the financial security they need in the event of their sudden death as well as making sure the business they have created stays viable. This is one of the reasons it is so important to ensure that you have a credible succession plan in place. What is a succession plan? Succession plans are a plan of action that ensures your business remains a viable entity without your assistance. Financially, many businesses face ruin when the company founder or a key player in the company is suddenly disabled and unable to contribute or when they die suddenly. Businesses need to have a plan in place to account for all potential possibilities including: Death of a key person Disability of a key person Retirement of a key person…read more →

Estate Planning – What level of investments do you need to carry you through retirement

Estate planning involves far more than preparing your estate for your heirs to inherit upon your death. In fact, part of your overall estate planning needs to encompass your investment choices leading up to and after your retirement. Retirement income issues Younger people often do not consider the risks and rewards of their investment portfolios primarily because they view their portfolio as a “future” nest egg. However, as you approach retirement age, chances are you are giving far more thought to what to do about your investments. Balancing your portfolio to reduce the amount of risk you are taking becomes far more important when you are in your 50s than when you are in your 30s. Retirement income should be a concern for all of us since most of us will have a limited amount of financial resources upon retirement….read more →

WELCOME FROM THE PRESIDENT

Thank you for visiting the Dan Lawrie Insurance blog site! If you are an existing client, I hope that you’ll find it a valuable insurance resource to return to again and again. This site provides articles and news for you to keep informed of everything that is happening in the insurance world.   If you’re not a client yet, I invite you to take a look at Dan Lawrie Insurance here as a starting point and then to contact us to learn more about auto, home, life, business and other insurance services that may interest you. I can assure you that your satisfaction means everything to us! Our Core Values of Dan Lawrie Insurance People are at the heart of any company’s ability to succeed, people who share the same values and purpose. Our shared Core Values guide us in…read more →

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