Exit Coach Radio

Today's show features Mike Goodfriend discussing how to transition Managers into Game-Changing Leaders and Coleen McKenna discussing how to get more from LinkedIn.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

 

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Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

 

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Liz Bentley is the President of Liz Bentley Associates, a business focused on Leadership Development and Organizational Consulting. Today, she will discuss succession planning strategies. 

Questions Asked: 

1. Why do so many companies need help with succession planning right now? 

2. What does your team of consultants to help navigate succession planning 

3. What is the biggest struggle you see? 

Contact Info: 

Website: www.lizbentley.com

Email: liz@lizbentley.com

Bonus Material: 

DiSC Assessment to assess leadership style at www.lizbentley.com 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group 

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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!

We add new content daily! Listen on iTunes: iTunes.ExitcoachRadio.com .

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Gwen Resick-Rennich is an International Speaker and Executive Speech Coach. She coaches CEOs/Presidents and their executive teams to captivate their listeners with impact and present themselves with poise and confidence.

 

Gwen discusses what quality is mostly missed in the way people deliver their information, how to keep listeners engaged, and advice for helping people manage their fear of speaking. 

 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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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!

Transcript: 

Bill: What are some frequent obstacles that business owners or people run into as they try to plan their success?

Doug: Well, usually when they start off with a plan, they jump right into, "alright, here's what I need to do, steps one, two, and three." And that's probably better than no plan, but I recommend they start with why. There's a book out by Simon Sinek, Start With Why. What happens is, when they start with why, then they start to get a bigger picture of why are they doing this, what's their purpose, what is their reason to be, whatever you want to call it, but the bigger picture that drives them. Because if they can understand that, put it into words, and the fewer, the bolder the words possible, the stronger that statement will be. And then, when they have that, then offer it not only to their employees, but to their clients, to their banker, to everybody out there that they might want to influence. If they start with why, put the why first, then everything else starts to make sense. 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Jeffrey Verdon is a managing partner at Renowned Trusts & Estates, and is also an asset protection lawyer. Jeff will be speaking about the recently popular NING Trust being used by residents of high income tax states to eliminate state income tax on Non-CA source investments. 

 

Questions Asked: 

 

1) What are the two or three most popular and beneficial pieces of advice you generally provide?

2) What is the NING Trust and who is the best candidate for one?

3) Can you give an example of how the NING Trust could be used by a CA high tax resident to save state income tax?

 

Contact Info: 

 

Website: www.jmvlaw.com

Email: jeff@jmvlaw.com

Bonus Material: 

Call 949 333-8150 for a no cost telephone interview

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Bill Black interviews Kate Azar and Chuck Gallagher for their expert tips and ideas.

 

 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

 

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Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

 

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An excerpt from an interview with Don Burzen of www.PositiveExits.com

Jim Sullivan discusses the tax benefits and strategies tied to land conservation. 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

Listening from an iPhone or iPad? Get our App in the App Store: click here

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!

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Darrell Moon is the CEO of Orriant, a company focused on Corporate Wellness. Today, he will discuss health care costs and how your business can control them. 

 

Questions Answered: 

 

1) How much does the US spend on healthcare every year?

2) How much of that is due to poor health habits?

3) What are the "best practices" of engaging people in changing their behavior?

 

Contact Info: 

 

Website: www.orriant.com
Email: darrell@orriant.com

 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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What have you heard about Reverse Mortgages? In this brief highlight, Pete Tentler of Liberty Home Equity dispels 2 common misconceptions about Reverse Mortgages. The interview was conducted by Bill Black, The Exit Coach, on The Exit Coach Radio Show - the Information Station for Baby Boomer Business Owners contemplating Business Succession and Exit Planning.

Transcript: 

Pete: Many believe that when you obtain a reverse mortgage, the lender owns the home. However, this is not true. The borrower's will retain the title and ownership during the life of the loan, and they can sell their home at any time. The loan will not become due as long as the borrower continues to meet loan obligations, such as living in their home as their primary residence, maintaining the home according to the FHA requirements, and paying property taxes and homeowner's insurance, just like you normally would. 

Bill: I had heard one time that home equity conversion mortgage means that they lose the home when they die. Now, is that correct, or is that wrong? 

Pete: That's wrong. This is another common misconception. Their heirs can sell the home to pay off the loan or keep the home by paying off the loan, balance in full. So, they can live in the home for as long as they desire, and at no time can we say, "hey, time for you to move out." As long as they maintain the property as their primary residence, and pay their property taxes and insurance, they can live in the home forever. 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Today, Dr. Jerry will be discussing on the very important topic of dietary supplements. Do we need them? There are many conflicting studies out there today, and Dr. Jerry Kornfeld will clear them up for you on today's show!

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links 

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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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!

There are many emerging, creative ways for your company to get involved with a charity such as Olive Crest, as Tim Bauer shares in this one minute highlight -- the main thing is that you get involved in some way. Hear his full interview tomorrow morning!

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Teri Goetz practices Chinese & Integrative medicine. She's also a life coach. After being diagnosed with two autoimmune diseases for which conventional medicine only offered pharmaceuticals, Teri did her own research and came up with a plan that included changing her business to help other people with autoimmune and chronic conditions. More information can be found at www.TeriGoetz.com. 

 

Terri will discuss what made her interested in Chinese & Integrative medicine, how she incorporated coaching into her practice, and her recently published book, Don't Just Do Something, Sit There: An Unusual Strategy for Great Growth, Profit and Impact.

 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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You've always thought that your IRA was a tax efficient asset, right? Larry Bell explains.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Here's a highlight of comments from Paul Roberts, Founder of OC Talk Radio, about Baby Boomer trends.

Think about how this group has changed buying trends in the past, and look to the future.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Brad Leggett of The Leggett Group shares tips about how to motivate sales teams.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group 

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Jack A. Bass of Jack A. Bass and Associates discusses the concept of expanding through franchising. Listen to his full thought provoking and interesting interview tomorrow!

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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On this show, Bill interviews Roberta Taylor and Rick Usher for their Tips, Ideas and Precautions.

 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

 

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Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

 

Listening from an iPhone or iPad? Get our App in the App Store: click here

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!

Attorney Addison Adams of Richardson & Patel, LLP discusses some of the important tips that business owners should consider in preparing to make their business more transferable to a Buyer.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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St Louis Test Prep provides training in accounting and finance to students and investors. Ken Boys is the author of three "Dummies" books on accounting. 

Questions Answered: 

 

1) What is the number one accounting issue for small business owners?

2) What accounting topics were the most difficult to explain in your books?

3) What area of investing is most confusing to investors in your training classes?

 

Contact Info:

 

Website: www.stltest.net

Email: ken@stltest.net

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Pop the hood, they're all the same -- so says Martin Holland. Find his full interview with the search bar.

Transcript: 

Bill: We've had a lot of coaches come onto the show and tell us that, "Yes, businesses look different from the outside, but inside they all look pretty much the same." Here's some great advice from expert, Martin Holland. 

Martin: All businesses are identical. And as I say frequently, all businesses are identical, and all businesses are unique, and of course, that is an oxymoron, but there are things common to all businesses, no matter what the industry. That's what I do as a coach, is we work on those common factors. The things that are unique: even within the same industry, one plumber is different from another due to work ethic, the systemization, the capital requirements, the location they're in, and so on. So that's really what I take away from having been in a lot of businesses in a lot of different areas. 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Devon Blaine of the Blaine Group discusses several concepts to promote and protect your business.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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This week Dr. Jerry would like to address one very frequently asked about topic: cholesterol. 

1) Can you explain good cholesterol vs bad cholesterol, what are the different kinds? 

2) Should I worry about my cholesterol levels, and what is the best way to deal with them?

3) What about Statins as treatment?  Are they safe, and what do they do?

Contact Info: 

Website: www.askdoctorjerry.com

Email: kjbkorn@aol.com

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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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!

Roger Royse, Attorney-Royse Law Firm discusses why many Start-up companies have a shorter life span and they must be very attuned to having an Exit Strategy right from the start.

Transcript: 

Roger: Start up companies, if they expect that they're going to get institutional funding like a lot of them do, have to anticipate a fairly early exit because their venture capital investors are managing funds that have definite endpoints, those funds term out. What happens is, as they get to the life of the end of the fund, or as they hold an investment for awhile, they're going to get increasingly demanding about seeking the liquidity of that. So, even though the founders might like to stay in the company for a long time, you can expect that the investors are going to want to see an exit, in other words, the sale of the company, certainly within 5-7 years. Now, having said that, I've got companies, legitimate startup companies, that have been my clients for 15-20 years. It just turned out that it was a good cash business and they just hung onto it and didn't just build it to sell. But, the typical startup, they expect a pretty fast exit, especially these days. 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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In this 1 minute highlight, Louis Tucci, Owner, L. TUCCI FINANCIAL LLC discusses the similarities between a GPS device that keeps you on track to a destination in your car and an Exit Plan that keeps you on course to exiting your business.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Securities offered through Securities America, Inc.  Member FINRA/SIPC and Advisory services offered through Securities America Advisors, Inc. Louis A. Tucci Representative.  Financial Principles, LLC and Securities America are unaffiliated.

 

 

 

Adam Lomax of Oxygen Funding, Inc. discusses the different avenues to pursue based on your financing needs.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

 

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Quick tips from Kris on common mistakes investors make. Find his full interview with the search bar.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Richard Katz is a retired trial lawyer turned author. Today, he will discuss the finer points of writing and how he was able to change his career path through research and following his own personal desires. 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Rick MacBarron shares planning tips from his 30+ years of experience working with business owners and high net worth individuals.

Transcript: 

Bill: Two of the most frequently asked questions about exit planning are: when should I get started, and what should I be looking for? Here's Rick MacBarron. 

Rick: You don't want to wait too long, right? So, typically, the people that come to me are going to be in their 50s, early 60s sort of thing. You have lots of options when you have a 3-5 year runway before you intend to actually do something with a company. So you need some time, that's point number one. Point number two is that, in most cases, it is very, very important to take a careful look at the business and make sure that it's prime for an optimal sale. So, I got to know Andy and I got to understand how he was operating his company. He actually had four separate operating companies, and he did things where he moved money back and forth, and so forth. And one of the things that concerned me about that is how would a buyer perceive that? 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Jeff Socha is a Senior Advisor and Founding Partner of Ark Financial Group, a boutique financial firm headquartered in Austin, TX. He specializes in business and personal financial planning, and has extensive experience developing intricate financial solutions for business owners and executives in construction, software, real estate, and other industries. His clients range from established corporations to family businesses and professional individuals and families.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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W. Bailey Smith offers no-nonsense, straightforward tips on preparing for the inevitable.

Transcript: 

Bill: Well, we all know we have death and taxes in common, here's W. Bailey Smith with some no-nonsense tips for preparing. 

W.: We're all gonna die, it's just a question of when. Get your ducks in a row and make sure you have your planning properly set up. Not just your living trusts, but also, do you have a current healthcare directive? Are you avoiding the Terri Schiavo problem? And do you have it with you at all times? Some of my clients have a wallet card with their health care directive on it, so that regardless of when they have that heart attack or car accident, they always have their heath care directive with them to get off life support if there's no hope of any recovery. Also, they should have a current power of attorney, durable power of attorney, that allows somebody else to pay their bills if they become incapacitated. 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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The Value Builder System is a statistically proven methodology for increasing the value of a business by up to 71%. The proven system is 100% advisor-led, meaning the only way an entrepreneur can leverage the methodology is through the support of a Certified Value Builder™.

Questions Answered 

1) What is the biggest mistake owners make in approaching their exit? 

2) What is the biggest mistake advisors make it approaching owners about hiring them as a coach?

Contact Info

Website: ValueBuilder.com

Email: John@ValuebuilderSystem.com

Bonus Material:

"Built to Sell" is sold on Amazon. Whether you are a business owner or advisor who serves them, Go To ValueBuilder.com and complete thequestionnaire

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Advice is everywhere, but is it good advice? Heath Frantzen of Delta Business Services discusses important thought that should go into your exit planning. 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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A 1 minute excerpt from a recent interview with Mark Dorman. 

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Bill Black interviews Ken Nutter and Tawnya Gilreath.

What can you do RIGHT NOW to work on making your Business more Sustainable, Transferable and Valuable in the future? Visit our Online Planning Links at www.ExitCoachRadio.com/links

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Sponsors: Exit & Retirement Strategies, Inc. | BEI |Jeffrey M Verdon Law Group |  Albert J Rasch & Associates | Ghassemian Law Group

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Brad has over 25 years of addressing the financial concerns of retirees and business owners.  Add his strong communication skills and Brad, after first listening to his clients’ needs and concerns, is able to simplify and explain in everyday language even the most complex concepts and alternatives. He treasures the trust his clients place in him and safeguards it by his words and actions.  His reputation for unquestioned integrity is far more important to him than any fee or commission.  For these reasons and more, Brad often forms a close personal relationship with his clients.

While he can be described as a personable and caring person with a passion for his work, Brad’s most accurate characterization might be “the consummate professional.” His singular goal is to treat his clients “as if they were my own parents” and help them build a sound foundation for their financial house.  By any measure, some say, he is an advisor worth standing in line to do business with. 

Build Credit In Case of A Divorce

Divorce can be hard on your personal finances, particularly if you haven't established credit in your own name.

If you have no credit, or a thin credit file, getting credit when you need it, perhaps to rent a car, buy an airline ticket or shop online, could be challenging.

This happens more often to older women who weren't the primary income earners in their household while they were married, says Ronit Rogoszinski, a wealth adviser at Arch FinancialGroup in New York's Long Island.

"A lot of women just never got the Visa or MasterCard or American Express,"Rogoszinski says.

Separate while married

The best way to fix the problem is to avoid it by establishing separate credit while your marriage is still happy, says Rod Griffin, director of public education at the credit bureau Experian.

"Ideally, you maintain an individual account or 2 in your own name in the event that something unexpected happens," Griffin says.

That could be a divorce or some other financial calamity.

A small purchase every few months typically is enough to keep an account open and active.

In some states, new separate credit isn't an option for married couples because state law automatically deems new credit accounts established during the marriage to be jointly held. You'll have to check to see if that's the case in your state.

Splitting up

Another approach is to establish separate credit during the divorce, using the primary wage-earner's income and credit history to qualify, says Lili Vasileff, founder of Divorce and Money Matters, a divorce financial planning firm in Greenwich,Connecticut.

The 1st step is to obtain your own credit report. This report can help you find out:

·      Credit that's open in your name.

·      Debts you don't know about(if any).

·      Credit reporting errors that can be corrected.

It's also a good idea to find what points, airline miles and other perks are associated with various accounts. Vasileff says these are marital assets and can be subject to negotiation during the divorce.

The next step is to open a major credit card in your own name "as if everything is normal," Vasileff says. Then get a car loan, open a bank account, sign a rental agreement or take other actions to establish separate personal finances.

"These little,small steps are very key," Vasileff says. "Because then, by the time you're divorced, you're up and running and have things you can point to."

Some couples split up their credit accounts before they untie the knot.

This separation can be easier if your accounts have small balances and payments have been made on time, Griffin says. In those cases, creditors might be more willing to work with you to remove 1 spouse from an account.

Don't expect creditors to honor your agreements with your soon-to-be ex, however.

"A divorced ecree doesn't change the contract you have with the lender," Griffin says.

Over and onward

The other option is to establish your own credit after the divorce is finalized.

"In that situation, you're faced with the same kinds of challenges as anyone who is establishing credit for the first time," Griffin says.

You might need to start out with a joint account that you open with a co-signer or a secured credit card that requires a deposit.

A credit union or regional bank might be more willing to open a credit account for someone without much credit history, Rogoszinski suggests.

"I don't believe anything is hopeless," she says. "If the 1st bank turns you down or the 1st store doesn't offer credit to you, try another one."

One challenge for people who are recently divorced can be a lack of income to qualify for credit.

"The only income these individuals have to show is spousal support," Vasileff says."Spousal support generally (can't be used to qualify for) at least 6 to 12months, so these people are sort of out of luck for a gap in time,post-divorce."

If you rent your home, you can ask your landlord to report your positive payments to a credit bureau. That can help you establish credit as well, Griffin says.

It can take several months or longer to establish enough credit to generate a credit score. It's generally easier to start from 0 than to repair credit that has been trashed.

Take care

Once you've established credit, do whatever you can to nurture, build and protect it.

"Manage that credit card like it's gold," Rogoszinski says."Don't take on balances you can't pay because the interest alone could spiral you into a pit you don't want to be in. When you get the bill, review every entry (looking for) identity theft and fraud. Keep your receipts and make sure the receipts match the statement. And always, always, always, always make the payment on time."

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A 1 minute excerpt from an interview with Sanford Coggins. Hear the full interview by entering 'Sanford Coggins' into our search index at www.ExitCoachRadio.com. We upload new content daily so check back often!

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Golden State Foods is one of the largest diversified suppliers to the foodservice industry. Headquartered in Irvine, Calif., the $7 billion company is values-based with proven performance in superior quality, innovation and customer service. Established in 1947, GSF currently services more than 125,000 restaurants and stores from its 45+ locations on five continents. Its core businesses include: processing and distribution of liquid products, protein, produce, dairy and other services. Golden State employs approximately 6,500 associates and is 100 percent management-owned and run. Golden State Foods also operates a national non-profit organization, the GSF Foundation.

The GSF Foundation is a non-profit organization established to improve the lives children and families in need. A natural extension of Golden State Foods’ values-based business, the Foundation is designed to assist those in the areas where GSF associates live and work through personal involvement and contributions. Building upon the existing

charitable involvement of its associates, the GSF Foundation partners with numerous local charities nominated by GSF employees, benefiting a variety of worthy organizations and individuals throughout the country. Some include: Special Olympics, Big Brothers Big Sisters, Second Harvest Food Bank, and the Ronald McDonald House Charities.

Contact Info: 

Website: goldenstatefoods.com

Email: jpage@goldenstatefoods.com or alukes@goldenstatefoods.com

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The Williams Group prepares affluent families and heirs for successful wealth transitions. Roy will be talking about the 70% failure rate of estate plans and the steps high-net worth and ultra-high net worth families must take to reduce or eliminate this tragedy. It is all addressed within the family.

Questions Answered: 

1. What is the most significant change you see in families after they have worked with The Williams Group? 

2. Is it difficult to get families to open up and be transparent? 

3. Why has the 70% failure rate continued for (2,000 years - i.e. the Prodigal son) when we have top professional lawyers, estate planners and financial advisors?

Contact Info: 

Website: www.thewilliamsgroup.org

Email: roy@thewilliamsgroup.org

Bonus Material: 

Roy has written five books and co-authored two books which are available on Amazon:Preparing Heirs - Five Steps to a Successful Transition of Family Wealth and Values andPhilanthropy Heirs & Values - How Successful Families Are Using Philanthropy To Prepare Their Heirs For PostTransitionResponsibilities. On The Williams Group website: www.thewilliamsgroup.org you can obtain more information and we recommend you take our 10 Question Quiz to see if your family is prepared.Our phone # is 949-940-9140.

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Bill Black interviews leadership expert Aleen Bayard

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Bill Black interviews Business Valuation expert Roger Winsby.

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Guest: Lawrence L. Bell, JD,LTM,CLU,ChFC,CFP®,AEP

Larry Bell creates unique solutions for difficult financial issues. In this interview, he explains the unique problems that multi-professional firms wrestle with to help the Partners prepare for retirement on a tax-advantaged basis. Contact Larry at larrybell@theuniquesolution.com

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In this 1 minute highlight from his interview, Marc Hankin of Hankin Patent Law discusses how his firm works with small businesses to protect their ideas and processes.

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Bill interviews executives from Golden State Foods about their corporate culture that is giving back to communities near and far, and John Dini about Exit planning Myths.

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Oren Klaff for his tips and ideas about preparing for and closing BIG deals.

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In this 1 minute highlight, John Brown, President and Founder of BEI (Business Enterprise Institute), discusses one of the three headwinds that have created a difficult environment to exit a business.  

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In this 1 minute highlight, Chuck Kiskaden, President/CEO, Health Benefits Advisors  discusses the Affordable Health Care Act, A Good Broker is Now More Needed Than Ever. 

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