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DON'T LET THE DREADED PROBATE COURTS GET YOUR BUSINESS
Manage episode 501851936 series 3557593
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- Imagine having someone looking after YOU as a business owner.
- Business owners often focus on cash flow, payroll, and acquiring new cash flow.
- Neglecting to plan for life-changing events like tragic accidents or temporary disabilities hinders continuity in your business.
- Andy Fankhauser offers a process to help business owners, their partners, and families make smooth transitions if the owner is incapacitated or worse.
- After speaking with Andy, I realized I never considered a backup plan for my French-themed inn, in case I couldn’t manage it for a few months.
- I mentioned having $300,000 in life insurance to cover expenses for the inheritor while they sold the property—this only prepares for unexpected death.
- Andy pointed out that without a method for someone to authorize payroll or pay bills through the business bank, outstanding debts and expenses won’t be paid.
- Life insurance alone is not enough.
- Andy suggests taking steps with your bank to ensure someone can continue business operations if you’re unable to sign those checks or make withdrawals..
ANDY FANKHAUSER
Andy offers a free resource: “PROBATE PROOF YOUR BUSINESS: THE OWNER’S ACTION WORKBOOK
RESOURCES HERE:
PROBATE PROOF YOUR BUSINESS: THE OWNER'S ACTION WORKBOOK
https://mail.google.com/mail/u/0/#search/Andy/FMfcgzQbfpMSfLxhmDxWQCLlmsWfLZFC?projector=1&messagePartId=0.1
“PROBATE PROOF YOUR BUSINESS: THE OWNER’S ACTION WORKBOOK
RESOURCES HERE:
PROBATE PROOF YOUR BUSINESS: THE OWNER'S ACTION WORKBOOK
https://mail.google.com/mail/u/0/#search/Andy/FMfcgzQbfpMSfLxhmDxWQCLlmsWfLZFC?projector=1&messagePartId=0.1
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