William Penn Life, 2016 (51. évfolyam, 1-12. szám)
2016-10-01 / 10. szám
Aging Well with Cathy Graham Blessings in many guises MERRIAM-WEBSTER DEFINES a "blessing" as approval that allows or helps you to do something; help and approval from God; something that helps you or brings you happiness. I see blessings as so much more. The universe — with all its planets, stars and space included -- is the very heart beat of a blessing. Chameleon-like, blessings wear many hats by taking on forms that are rarely predictable. You may not recognize a blessing at first as it may be covered in chaos, appear as a sickness or be a flinch from a stranger. Often carried on the tail of a cardinal or in the eyes of a dog, blessings, no matter their disguise, change our very soul. With antenna-like properties, blessings change channels and allow us to tune in to a more optimal station. Once your being has been embraced, it will never, ever be the same. Blessings allow you to see farther ahead, and they keep you from falling into the past. We face forward with lightened limbs as the ground weaves itself solid and the steady incline shifts perception to a pattern of acceptance and peace. Blessings are vehicles with brilliant white wings that gently carry you to a better view. Children see them easiest because they have not been tainted or clouded by skeptics and spoilers. Blessings always come forth, translucent and strong, but you need roots of faith to see them. Sometimes people step on them unaware of their existence. When that occurs, the blessing breaks into thousands of pieces. No longer useable, it diffuses into the air, waiting to gather momentum and present itself again. Like particles of glitter too small to be seen, they gather and swirl, connecting the dots. Even in the darkest moments and the most rugged of times, they begin their dance under your feet and over your head. Count them, hold them, kiss them and use them. Blessings are the brightness we need to light the path that takes us home. Cathy Graham is director of the Graceful Aging Wellness Center at Bethlen Communities in Ligonier, Pa. Moneywise Continued from previous page about what would happen if they were no longer there to run the business. Who would take over? What's your "exit strategy"? Many business owners say they are just too busy to take the time to sit down with an advisor and review their business needs. Often, the self-employed or family-owned business owner neglects to see the need for life insurance, assuming that the business will take care of itself should the owner or key employee suffer an untimely death. Earlier in my career, I was referred to a business owner who "didn't believe" in life insurance or see how it could benefit him and his family. He theorized that his family could liquidate his business assets (mostly machinery and real estate) when he died and couldn't see the need to carry life insurance. Although neither of his children were very involved in the family business, he assumed (incorrectly) that one of them would step in and take over the business at some point. When he passed away unexpectedly, his family had to sell his assets quickly for just pennies on the dollar in order to generate the cash they so desperately needed for final expenses and income. Without a succession plan in place, his business was left with receivables that couldn't be collected, bills that needed to be paid and nobody with the expertise to continue the business as an ongoing concern. He could have insured the full value of his business for pennies on the dollar and been able to pass the full value of his business to his heirs. He also erred in his assumption that his children would take over the business, when neither of them had shown an interest or been involved in the day-to-day operations. Business owners need insurance for income replacement and to protect the future of their company. Without insurance, if a partner, owner or key employee suddenly dies, the business may ultimately fail. No matter the type of business you own or your business form (LLC, sole proprietorship, partnership, etc.), you should have a succession plan for your business and an exit strategy. If your intention is to pass the business to your Gen X or Millennial children, it's important to get them involved as early as possible in the inner workings of the family business so as not to wind up like our example above. Do you or a loved one own a family business? Have you taken the time to meet with financial advisors (attorney, accountant, insurance agent) to review your business needs and discuss your succession plan and exit strategy? Why not put the expertise of your WPA agent or broker to work for you? We can work with you and your other advisors to help plan a strategy that makes sense for you and your business. With proper planning, you can be sure that your business will be among the 30 percent that survives beyond the first generation and leave a legacy for generations to come. Why not call your WPA agent or broker today? Don't have an agent? Call our Home Office, and we'll be happy to connect you with one in your area. □ WILLIAM PENN LIFE 0 October 2016 0 5
