Reib Law - September 2021

SHATTERPROOF NEWSLETTER

SEPTEMBER 2021

WWW.REIBLAW.COM | 940.591.0600

3 EXCUSES FOR NOT MAKING AN ESTATE PLAN THAT YOU NEED TO STOP MAKING

the boss for a reason, and you have the final say on what’s important to your business. Your estate plan should be one of the most important things to you; therefore, it should be important for your family, too.

It never matters how exemplary a multimillion-dollar family business is when it comes to providing products and services to its customers — if there is no succession plan in place for when the current owner steps down or passes away, that business will crumble. The ugly truth is that a failure to create an effective estate plan that includes a business succession plan can be a death blow to your business, and many times, the reason for that lack of planning is the result of hollow excuses. They abound when the subject of creating an estate plan comes up, but there are three that I consider the most common excuses. Do any of these sound familiar to you? 1. ‘THERE’S NEVER ENOUGH TIME TO GET IT DONE.’ When you own a family business, it can be a struggle just to take care of the day-to-day tasks and fires. Weeks, months, and even years can go by without any apparent opportunity for any type of forward-thinking business planning, including putting together an estate plan. Plus, even when it appears that you have time for those things, something — like a lawsuit, an audit, or an unexpected illness — always seems to come up. While this mindset is understandable, you can’t relegate putting together an estate plan to the backburner like you do with other long-term, forward-thinking projects. Illness and tragedy can strike at any time, so it behooves any business owner to invest time, money, and energy into creating an estate plan, just like they would the day-to-day tasks of running their business. After all, there’s nothing more important than the future success of your family and your business. 2. ‘MY FAMILY AND/OR EMPLOYEES DON’T TAKE IT SERIOUSLY ENOUGH.’ While estate planning and business succession planning are matters you should take the lead on, they ultimately require input and action from family and key nonfamily team members. To this end, if you come up with a first draft of a plan, present it to your team, and they don’t seem interested or resist your ideas, it’s easy to get discouraged. In the end, though, even if you won’t be around for the train wreck likely to occur in the absence of an estate plan, one fact should cause you to push back against this excuse: You’re

3. ‘I DON’T ACTUALLY KNOW WHAT PROPER PLANNING ENTAILS.’

Not knowing how to proceed on an important task often leads to a fear of failure and then to procrastination on taking care of it. When it comes to estate planning, it’s not always easy to create goals for a future that doesn’t include you in it. It’s natural to be nervous going into the process, but you don’t have to be. This is where it becomes incredibly beneficial to connect with an experienced estate planning lawyer. At REIBLAW, we can help you create a comprehensive business succession plan that names a successor and gives them a detailed road map to follow when you’re no longer around to offer wisdom and advice. NO MORE EXCUSES Creating an estate plan and a business succession plan is essential to your company’s (and your family’s) continued survival. So, it’s time to stop making excuses. Consult with us as your access lawyer today, and we’ll guide through this vital process. Even if you already have an estate plan in place, it’s still good to have an attorney look it over to ensure you covered your bases. For your own peace of mind, schedule an appointment today to get started. We offer PEACE OF MIND SESSIONS for families and businesses, which includes a review of all the legal, financial, and tax systems. To book your FREE SESSION right now, go to REIBLAW.co/peace-of-mind.

– Scott Reib

As your Access Lawyer, we're specifically trained to help entrepreneurs like you put these cornerstone systems in place, providing your company with a shatterproof foundation. To see how stable your foundation is, take our Shatterproof Business Audit and assess your confidence in how much your legal, insurance, financial, and tax foundations will support your business growth. Just go to REIBLAW.com/shatterproof-audit and complete your audit. We will send you back a report card.

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5 WAYS TO FIT EXTRA MOVEMENT INTO YOUR DAY

And, on your way back to your workspace, take the long way around to say hi to your coworkers!

If you're restless at your desk, extra exercise and movement

might be exactly what the doctor ordered. Even just a little bit of unplanned

NO. 3: STRETCH IN DOORWAYS. Our shoulders and neck can quickly get sore from the amount of time we spend slouching in front of our screens. An easy way to relieve the stress is to press your hands on either side of a door frame, then lean forward as far as you can. If you don’t have a doorway to use, you can try doing shoulder shrugs or neck rolls right at your desk to ease some stress or even just clear your head. NO. 4: DO MORE CALF RAISES. One of the easiest exercises to do in public or at home are calf raises. Do this by simply raising your feet high off the ground one at a time. Squats and lunges are also easy to do but may require more flexible clothing than you’re wearing and a space where you can move freely. NO. 5: WALK FOR ALL OF YOUR PHONE CALLS. Sometimes, people start walking naturally while they’re on a phone call. Why not make it an intentional movement every time you take a call? Studies show that walking will keep your body in high gear by encouraging energy and productivity!

movement every day can help boost your mood and maintain

good blood circulation. Here are five ways you can fit in extra movement without losing your productivity!

NO. 1: PARK FARTHER AWAY. It might be more convenient to park as close to your destination as you can, but parking farther away can add some extra steps. It’s a small difference that certainly can’t replace regular cardio, but it doesn’t hurt either! NO. 2: DRINK MORE WATER. Drinking plenty of water is healthy for flushing out bacteria in your system, but it’s also a great way of helping you get up from your desk. The more water you drink, the more times you’ll have to refill it in your kitchen or at the watercooler.

CREATE WEBINARS THAT WILL GENERATE QUALITY LEADS WITH GOTOWEBINAR, THIS MONTH’S BIZ TOOL!

With more business than ever being conducted remotely online, businesses and entrepreneurs everywhere are in need of versatile, easy-to-use tools that can generate leads like crazy. Webinars fit that description perfectly, acting as lead magnets and attention-grabbing tools for follow- ups with warm leads. And they can be so much more than that, including an in-house training tool, a company-wide meeting replacement, and a virtual mastermind hub. Don’t believe in the power of webinars just because we said so? Maybe you’ll believe the 73% of marketers who called it their best strategy for generating leads, as reported by online business-building organization CloudIncome. Also, according to a study linked on their site, webinars were found to convert 20%–40% of attendees! That said, though, creating webinars can be difficult. You have to keep track of a lot of steps and a lot of moving parts. However, that’s where GoToWebinar can really save the day. Created by LogMeIn, a company helping people work from home since 2003 (back when the prospect of large portions of the American workforce working from home was just a twinkle in the internet’s eye), GoToWebinar can help you

create the content, send out invitations, host the webinar, and more. It’s meant to be your one-stop shop for the best lead generation tool you can find! To get started, you just need to pick a date for the webinar. From there, GoToWebinar will send invitations to your guests and even follow up with them. Then, on the day of the webinar, you can present in practice mode to get comfortable with your material. Finally, the app will give you feedback afterward and >Page 1 Page 2 Page 3 Page 4

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