What to do after selling your business
The contract is signed. The cheque is cashed. Your business has been sold or you’ve been given a golden handshake. Now what?
It’s a question many former company owners have a tough time answering. Whether you’re looking to sail around the world, start a new enterprise, or spend time with your family, you must now figure out what to do with your money—and with your life.
Here are 13 things business owners should do after leaving.
- Relax
Shifting gears in a rush increases the likelihood of missteps, financial and otherwise. Take some time to reflect on what’s happened, and what’s to come. You don’t need to accomplish everything at once.
- Define your goals
Do you want to spend time with family? Travel? Get involved in a charity or a community cause? Start a new business? Write it down.
Estate Planning for Blended Families
Avoid Disinheriting Your Children
In today’s family it is not unusual for spouses to enter the marriage with children from previous relationships. Parents work hard at getting these children to functionally blend together to create a happy family environment. Often overlooked is what happens on the death of one of the parents. In most cases special consideration for estate planning is needed to avoid relationship loss and possibly legal action.
Typically spouses leave everything to each other and when the surviving spouse dies, the remainder is divided amongst the children. The problem? Even with the best of intentions, there is no guarantee that the surviving spouse will not remarry and inadvertently disinherit the deceased’s children.
Read more 
Preserving an Estate
You’ve done a good job accumulating assets and establishing your financial security. These assets will funnel down to the next generation, but at what value? What will the tax consequences be? Will these assets pass directly to your intended beneficiaries, or will they be stuck in probate? What impact will it have if your spouse dies first?
Life insurance can be a very effective tax and estate solution to ensure that the value of your estate is maximised. You’ve worked hard to create this asset – take the steps to protect it. Lets discuss options to preserve your estate.
