Business Briefs

December 2012

BUSINESS LIQUIDATION INSURANCE CONSIDERATIONS AT DEATH


When business liquidation is the only course of action at an owner's death, life insurance can provide the funds that make the difference between a planned liquidation and a financially-disastrous forced liquidation.

Consider the uses to which life insurance can be put in the planned liquidation of a business:

Estate Settlement Life insurance proceeds can be used to pay estate taxes and other estate settlement costs, allowing the liquidation to proceed on an orderly basis.
Family Income Using life insurance proceeds to provide the surviving family with a continuing income can avoid a forced liquidation of business assets for this purpose.
Working Capital If the executor needs additional cash to temporarily operate the business, life insurance can serve as the source of that cash.
Offset Shrinkage Even a planned liquidation will usually result in some shrinkage in value, as compared to what the business was worth as a going concern. Life insurance can be used to replace the value lost in the liquidation.

For "pennies on the dollar," life insurance provides the cash needed to avoid a forced liquidation will be available exactly when needed -- at the business owner's death.


MESSAGES
from the Masters...

ATTITUDE MAKES A DIFFERENCE

by Tom Hopkins

Studies have proven that attitude is one of the traits that separate average sales people from their highly-successful colleagues. I have to believe that it's true in life in general, not just sales. Think about the happiest, most successful people you know. How do you usually find them? Are they depressed, negative, or even apathetic? I doubt it. They're probably upbeat, smiling, and positive about life.

Why not take the same positive interested attitude you have toward your hobbies and transfer your passion to your ability to sell yourself, your ideas, or the end results of your hobby?

Instead of turning your selling job into a hobby, why not take the hobby you love so much and figure out how to market it or yourself? I'm not saying this change will make you a millionaire, but money isn't the only measure of success. If you could support yourself comfortably on the earnings from your hobby, I would deem you as having a successful life.

Think about it! You already have the built-in enthusiasm, excitement, and knowledge of your hobby. Now all you need to do is show others why they need to feel the same way. If you do a little research, you'll find that many successful business people started out by selling their hobbies. Determine what you love to do, and then figure out a way to get paid for it. What could be better?

Brought to you by:

Jeffrey N. Schweitzer, EPA, CEP, ATP

Northeast Financial Strategies Inc

667 South Street
Wrentham, MA 02093
800-560-4637
jeff@nfsnet.com
http://www.nfsnet.com

About our firm:

Offering Financial & Estate Planning, Investments, Insurance, Accounting, Payroll, and Income Tax Preparation for Individuals & Small Business. "Financial Strategies That Fit YOUR Needs!"

QUOTES
from the Masters...

On Preparation

"The secret of success in life is for a man to be ready for his opportunity when it comes."

-- Benjamin Disraeli

"The foundation of confidence in virtually every field is preparation."

-- Brian Tracy

"You cannot speak that which you do not know. You cannot share that which you do not feel. You cannot translate that which you do not have. And you cannot give that which you do not possess. To give it and to share it, and for it to be effective, you first need to have it. Good communication starts with good preparation."

-- Jim Rohn

"One of life's most painful moments comes when we must admit that we didn't do our homework, that we are not prepared."

-- Merlin Olsen

On Contentment

"You can't have everything...where would you put it."

-- Stephen Wright

"That man is richest whose pleasures are the cheapest."

-- Henry David Thoreau

"I am a big believer in the 'mirror test.' All that matters is if you can look in the mirror and honestly tell the person you see there, that you've done your best."

-- John McKay

"When we have done our best, we should wait the result in peace."

-- J. Lubbock

The purpose of this newsletter is to provide information of general interest to our clients, potential clients and other professionals. The information provided is general in nature and should not be considered complete information on any product or concept described.

For more complete information, please contact my office at the phone number above.

Published by The Virtual Assistant; 2012 VSA, LP

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Thanks!


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