Exit Coach Bill Black interviews Top Advisors for Tips, Ideas & Precautions for Business Owners who want to grow and protect their company value and plan for a successful Business Sale or Transfer. Listen daily so you can be well-planned!
Episodes
Tuesday Jun 04, 2024
Tuesday Jun 04, 2024
Michael Shea is the President of AdviCoach, a company focused on helping privately held businesses improve their business performance.
Tuesday Nov 14, 2023
Tuesday Nov 14, 2023
Rod Hatley of Chhokar Law Group P.C. discusses concepts related to Asset Protection and Wealth Preservation. We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com .
Transcript:
Bill: There's been a lot of talk lately about different types asset protection strategies, especially from business owners who are going from a complicated business asset to liquid. Here's Rod Hatley.
Rod: Unfortunately, there are people out there who prey on the unsophisticated, and they will talk to you about going offshore, hiding assets, and evading taxes. And, unfortunately, that does happen, but I'm here to tell you, a change in the law some years ago, we can achieve a similar level of protection domestically. We've found that it makes a lot more sense to keep a client domestically, if they'd like to stay. Let me say it this way: asset protection, if it's done legally and ethically, it's not about hiding anything, it's about simply structuring the owner of the asset so that they're safeguarded from risk, nothing more, nothing less. And we can help clients avoid taxes, but we can't help them evade.
Wednesday Sep 04, 2019
Wednesday Sep 04, 2019
Steve Cade focuses on Business Crisis intervention by taking over the key operations of a company so as to prevent a “Fire Sale” or a disruption in the flow of business.
Friday Jul 12, 2019
Friday Jul 12, 2019
Jeffrey Verdon of Jeffrey M. Verdon Law Group, LLC discusses asset protection strategies that do not require you to lose control of assets forever to work.
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Show host Bill Black is a Certified Exit Planner who helps Business Owners plan for their future Succession, Exit and Transition. Schedule a complimentary call to discuss your exit planning questions at www.BBschedule.com or visit www.Exit-Retirement.com
Monday Jan 21, 2019
Monday Jan 21, 2019
Jorge Ochoa-Lions is a business consultant specializing in profitability. He is going to talk about production of cash, and what are some of the reasons why businesses can be starved for cash, even when they have strong revenues.
Sunday Oct 29, 2017
Sunday Oct 29, 2017
Buck Blanton of ECM Group discusses the importance of being aware of your responsibilities when you sign as a Trustee for a Retirement plan.
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Monday Oct 09, 2017
Monday Oct 09, 2017
Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews!
Want more control of your business growth? Invest 15 minutes and get a FREE "Value Builder Road Map" at www.BizGrowth123.com
Friday May 12, 2017
Friday May 12, 2017
In this 1 minute highlight, Nick Yocca, owner - The Yocca Law firm, discusses briefly how different states offer different levels protection for those considering Asset Protection.
Transcript:
Nick: We can find your best asset protection in odd places. Forming an Alaska LLC isn't a bad thing, either. Nevada is certainly a good LLC state. California is not terrible, but the environment here makes it a little bit dicey. Our judiciary, and the judiciary in Nevada, if you were to compare them side-by-side, you have much more of a plaintiff, or tilt in California and less in a Nevada. Where asset protection is the key, we sometimes would steer toward Florida, where your home stay exemption is $1,000,000, and so your asset protection can be that much stronger. But, I did mention Alaska, they have terrific asset protection. So, it kind of depends on what your preferences are, and it can be found within the structure. But, if you were highly concentrated in California, you might think about diversifying just to get some of your assets elsewhere.
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Wednesday Feb 22, 2017
Wednesday Feb 22, 2017
Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to hear all of their past interviews!
Harry Barth, BarthCalderon, LLP discusses a primary goal of Asset Protection strategic planning -- to slow down the litigation process so that reasonable resolutions can be achieved.
Transcript:
Harry: “I think a very important component to understand is that as with all business deals, asset protection being just one of them, is to be able to settle a proposed claim within reasonable limits. It’s very, very difficult to do that if you’re in the jeopardy of losing your home, losing your business, and losing your life savings, so I think that it’s important that asset protection is granule. We look at the various components, we take into consideration all of the goals and objectives of our particular clients. And there’s not one particular size fits all, every situation is very, very different, every background is different, every family make up is different, every business transaction is different."
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Wednesday Dec 07, 2016
Wednesday Dec 07, 2016
Bill Black's guest shares tips & ideas for age 50+ business owners. New content daily - check back often!
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Tuesday Sep 06, 2016
Tuesday Sep 06, 2016
Michael Schwerdtfeger is a managing director at Chapman Associates. He provides sell-side mergers and acquisitions advisement to entrepreneurs and business owners exclusively. As a former attorney for Fortune500 companies, Michael is able to use his 20+ years of experience in handling complex business transactions to help guide his middle-market clients to the best outcomes.
Questions Answered:
1) Many of your clients go through the M&A process only one time. What steps do you take to educate them about the process before diving in?
2) How do you set reasonable expectations for your clients?
3) Do clients ever get 'cold feet' during the sale process?
Contact Info:
Website: www.mbsmergers.com
Email: michael@chapman-usa.com
Bonus Material:
Michael Schwerdtfeger’s eBook “The Inner Workings of a Deal: Tips for a Successful Transaction” is now available for download on his website.
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Wednesday Aug 17, 2016
Wednesday Aug 17, 2016
Al Caicedo is President and Owner of CKS Summit Group, founded in 1996.Al’s focus and objective is to help ensure his clients are able to enjoy their lifestyle beyond the workplace and into their retirement years. He educates and enables them to come to understand, for themselves, the financial path they should follow. He has spent twenty years helping clients protect and preserve their assets. His safe money strategies helped clients save millions of dollars during the latest market collapse. Al is an asset preservation consultant and transitional planning specialist. The goals and objectives of a transitional client are more geared toward safety and risk elimination, peace of mind, developing income options and tax savings strategies, avoiding probate, and reducing or eliminating the potential for loss to a nursing home. CKS Summit Group is committed to act in the best personal and financial interest of our clients.An aging America, combined with the precarious state of Medicare and Social Security, have created a need for comprehensive retirement management that goes beyond the ability of general financial counselors. His practice focuses on addressing the distinctive financial needs of those nearing retirement and those who are already retired.Al is a member of the Presidential Who’s Who and the Million Dollar Round Table. He has been featured in the following publications: Oakland Press, the Detroit News, Observer & Eccentric, Builder Magazine, Consumers Digest, WWJ News Radio 950, WDIV- TV Channel 4, Fox 2 Detroit, and C&G Newspaper.
Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.
New! Get our iPhone app at the App Store - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com
Tuesday Jul 12, 2016
Tuesday Jul 12, 2016
Here's a 1 minute highlight from an interview with one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to sell all of their interviews!
Mahyar Ghassemian, Ghassemian & Associates, discusses the need to budget for preventative planning, especially for businesses that are in high-risk categories.
Mahyar Ghassemian, was admitted to the California State Bar in 1999. Mahyar has a Masters’ degree in Physics from California State University, Long Beach and obtained her Juris Doctor degree , graduating cum laude from Western State University College of Law in Fullerton, California. While in law school Mahyar was invited to the California Court of Appeal in Santa Ana where she honed her research and writing skills as an extern for Presiding Justice, David Sil.
Transcript:
Bill: Ben Franklin once said an ounce of prevention is worth a pound of cure, but how does that translate in the business world? Here's attorney Mahyar Ghassemian.
Mahyar: Some of my largest clients have a policy that they set a set amount every month aside for legal expenses, because they understand that they need the advice of an attorney. What becomes really hard for people to see is the fact that once they get into a lawsuit, then they're going to have to be into it for a year and a half to two years, and everything, all of their life's belongings, can be put in jeopardy if they haven't spend a little bit of money upfront to protect it before it gets into a lawsuit, because lawsuits are very, very expensive.
Website: http://www.glgattorneys.com/
Visit ExitCoachRadio.com for Audio, Videos, Books and Interactive Tools to Grow Your Business Value, Protect Your Family and Prepare for your Future Transition.
New! Get our iPhone app at the App Store - search for Exit Coach Radio. Grow your business value by up to 71% - take a free assessment at www.BizGrowth123.com
Friday Dec 12, 2014
Friday Dec 12, 2014
In a recent issue of Client Alert, we illustrated just how far the courts are going to hold the "deep pocket" responsible to pay damages even though he or she didn't cause them. We wrote about John Catsimatidis, a modern business hero and successful immigrant entrepreneur, being found personally liable for millions of dollars in damages because someone in his company was found to violate certain Federal employment laws (http://jmvlaw.com/protect-personal-assets/); so much for the notion that a corporation will shield its shareholders from personal liability.
Last year, I wrote about an even more alarming case, Purton vs. Marriott International, and given we are in the holiday party season, the case was worth repeating. The incident happened in December, 2009.
Jack Landri, a bartender at the Marriott del Mar Hotel, had a beer and a shot of whiskey at home before going to the company holiday party. Everyone at the party was given two tickets for wine or beer. No hard liquor like whiskey or tequila was served. However, Jack brought a flask with about five ounces of whiskey in it to the party. Not only did he finish his flask but the bartender at the party refilled it with whiskey from Marriott's supply. After three hours, Jack went home with some of his co-workers.
Later that night, after he arrived home from the party, he decided to drive his drunken co-worker home. Traveling at speeds in excess of 100 mph and a .16 blood alcohol level, Landri smashed into the car in front of him, driven by a young doctor named Jared Purton, killing him instantly.
Dr. Purton's parents sued Marriott for wrongful death. The hotel chain asked the trial court to dismiss the case, claiming that its responsibility ended when its employee arrived home safely after the party. The trial court agreed with Marriott and dismissed the case.
Dr. Purton's parents appealed the case. The California 4th District Appeals Court did not impose "respondeat superior" liability on Marriott as a matter of law. Rather, by reversing Marriott's summary judgment, the court remanded the case back to the trial court to determine whether the employee's decision to drive while intoxicated, even after returning home from an employer-sponsored event, was so unusual as to render the resulting accident as unforeseeable.
It all boils down to this: If you are an employer and host company parties, outings, BBQ's, or other employee appreciation events, you should rethink your alcohol consumption policy for your employees, because if there is an accident or injury, your company may have to pay up. Or, alternatively, assign a person to monitor the state of the employees before allowing them to leave the event and perhaps, even administer a breathalyzer test to meet the apparent burden of "foreseeability" by the employer. This trend to blame the business owner (deep pocket) for any bad behavior is disturbing. This case should be a "loud and clear" message to employers to change their practices, and to build "firewalls" around their company assets to protect against the liability claims that this case will surely bring.
If you are afraid that you could be a target for lawsuits and want to explore what steps can be taken to "level the playing field" against these kinds of claims, we might be able to help. Please call us for a complimentary consultation.
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For more information about any of the information discussed in this Client
Alert, or any other income or estate tax planning or asset protection planning
assistance, please contact the: Jeffrey M. Verdon Law Group, LLP at jeff@jmvlaw.com or 949-263-1133.
Monday Dec 08, 2014
Monday Dec 08, 2014
Here's a past highlight from one of our Guests. Find their full interview at www.ExitCoachRadio.com -- just click "Audio Library" in the "LISTEN" section and enter their name to sell all of their past interviews!
Wednesday Oct 08, 2014
Wednesday Oct 08, 2014
Host: Bill Black. Brian Turner discusses the importance of preparing before a lawsuit gets filed. Audio library: www.ExitCoachRadio.com. New content daily - check back often!
Thursday Aug 07, 2014
Thursday Aug 07, 2014
Steve Beatty interviews Ike Devji of Pro Asset Protection for his tips, ideas and precautions to help you keep more of what you make.
Wednesday Apr 23, 2014
Wednesday Apr 23, 2014
Rod Hatley of Chhokar Law Group P.C. discusses concepts related to Asset Protection and Wealth Preservation.
Thursday Mar 27, 2014
Thursday Mar 27, 2014
Bill Black takes the mic for the 100th Episode of The Exit Coach Radio Show to describe common knowledge from our first 100 Advisor interviews.
We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com . See the Index for more on this Topic or by this Guest .
Host: Bill Black, The Exit Coach Radio Show - the Information Station for age 50+ business owners.
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Saturday Feb 22, 2014
Saturday Feb 22, 2014
In this 20 minute interview, Nick Yocca, owner - The Yocca Law firm, discusses several reasons why California Business Owners are contemplating moving to lower tax climates, and the potential benefits of such a move.
The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Age 50+ Business Owners contemplating Business Succession and Exit Planning.
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