Key Takeaways:
Chapters:
Timestamp Summary
0:00:05 Introduction and disclaimer about investment advice
0:00:49 Discussion on the consequences of divorce in business
0:03:23 Importance of having a prenup or postnup agreement for business ownership
0:04:23 Planning for the transfer or sale of business assets upon death
0:05:16 Involving children or key employees in the succession plan
0:05:58 Suggestion to buy life insurance to protect the value of the business
0:07:17 Planning for business continuity in the event of disability
0:08:22 Defining roles and responsibilities to mitigate disagreements
0:10:00 Suggestion to manage stress and seek mediation in case of disagreements
0:11:24 Importance of contingency planning for business distress
0:11:56 Planning for economic recession and contingencies
0:12:29 Discussing disasters and distress in business
0:13:03 Importance of proper planning for entrepreneurs
0:13:23 Planning reduces stress and increases profit
0:13:55 Contact information for Alison Reiff Martin
0:14:13 Disclaimer and closing remarks
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Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.
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