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Wednesday, February 22, 2017

Estate & Succession Planning … I don’t even know where to start!




We were privileged to have Jolene Brown present a workshop titled “The Top Ten Mistakes That Break-Up a Family Business” in our community a few weeks ago. It was so exciting to see so many successful people from our surrounding communities attend.

Jolene got a lot of people thinking… including those of us at Gardner & Billing. Hopefully her message has prompted some discussions and thoughts; or maybe it just has you stressed that you need to do something now


Anxiety happens when we think we have to figure out everything all at once. Relax. You can do this. Take it one step at a time. Breathe. Now Go…

Gather information: What do we have?
What do we own (assets)? What do we owe (liabilities)? What type of business do we have (sole proprietor, Corporation, LLC)? Who is a part of this plan (family members, business partners, beneficiaries)? What planning have we already done? What are our wishes for the future?

Documents that will help:

  • Entity organization documents (if applicable)
  • Deeds to real estate
  • Current Will
  • Loan documents
  • Financial statements
  • Financial & Family Goals list

Find a good advisor(s): Who will help us stay on track?
Once you gather your information, take it to an advisor that you trust. Find someone who will keep you moving forward - a professional who will ask you the tough questions, point out some possible pitfalls, and help you take the next step.

If you would like assistance or tools to help you get started, we welcome you to stop by our office or just give us a call. We have information available and we are eager to keep the momentum going!