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Few dog owners believe their dog would actually bite someone but, unfortunately, that turns out not to be the case. “All dogs have the potential to bite, but for most, biting is a last resort,” said canine expert Victoria Stilwell. Biting might be the last resort, yet many dogs seem to resort to it. According to the Centers for Disease Control, an estimated 4.5 million people in the U.S. are bitten by dogs every year. [ii]
I love dogs. Since Americans own ninety million dogs, it’s clear that a lot of us feel the same way. That’s why the astounding number of people bitten is a saddening statistic for dog lovers.
Properly structured life insurance policies can provide many of the benefits of long-term care policies without some of the disadvantages. Many of us in the business have had clients ask our advice on whether they should purchase a long-term care policy. Unfortunately, the answer is rarely clear-cut. There are always tradeoffs.
The cruise ship SS Familymoney is about to leave the dock. All of your clients and their extended families are aboard. What should you do? Board the ship at dock or wait until the ship is a mile offshore then jump into the water and swim after it?
The American Dream, owning your own business, being your own boss, passing the family business to your heirs, or selling it for a big payday. Yet most people have a hard time getting the latter portion done effectively. In fact, only about half of business owners have succession plans. Why would this be? Primarily it is because business owners are too busy running their businesses to consider the details of succession, and for others they avoid the topic because, like many estate planning issues, it hits very close to home emotionally and with the family dynamics it can be a difficult topic.
This is easy to do with sugar cubes. To make the solid, a liquid, you simply pour boiling water on them. Unfortunately for illiquid assets, the transition is not that easy. Take for example, when one of your wealthy clients dies at a time where most of their assets are illiquid such as land, houses, or even collections of rare art. To the contrary, this could also easily be a temporary situation because of a business decision or some other reason.