This has me thinking.

[Charlie Lyman]

http://www.idahostatesman.com/2014/...restaurant-has-closed.html?sp=/99/1687/&ihp=1

O
Local business. Owner dies and family is not prepared to go on without him.
Makes me think about my operation.

 

[Jeremy N]

Get insured so they don't have to. That is my solution.

It I keel over everyone is financially taken care of.

My wife and kids can make a huge pile of my equipment and start a bonfire for all I care.

 

[dealtimeman]

I started last year to show my wife the basics and the why I do's what I do's when I do's them. We have set everything up and buy everything asset wise to be positive under a liquefy asset situation. Understanding the biz and understanding margins has not been easy for her as well as my managing style over labor and why we do things in a certain way.

The more involed she is in the day to day the more the puzzles click together and she understands why things are ran the way they run.

Life insurance is good but would only pay everything off and leave a bit extra. I want to teach her as much as she wants to learn and if sheiks ever in that worst case situation she has the knowledge to make decisions wether that be continue the biz or shut it down and liquidate all assets.

 

[hogjowl]

Check your email.

By now, Island Boy has sent you a three pager.

 

[Jeremy N]

I got a pretty hefty life insurance policy. To me that was the simplest. I don't want to give my wife an opportunity to fail with have a horde of kids.

 

[Desk Jockey]

We have a buy sell agreement with a life policy to pay off the other spouse off.

It makes no sense.......I'm worth far more dead than alive.

 

[Jeremy N]

We have a buy sell agreement with a life policy to pay off the other spouse off.

It makes no sense.......I'm worth far more dead than alive.

How many other spouses do you have?

 

[Desk Jockey]

I currently am only able to handle one, but I'm not against expansion.

Dan's spouse, should he die and he pays my wife should I gulp die.

 

[bob vawter]

my wife will be dipping her toes in nice warm water an' sippin' on cold Margaritas by the time i reach room temp.......

 

[Desk Jockey]

Bawb do you think she would be against having you stuffed?

I figure we could sit you out in the garage and everyone that wants could drink and smoke and it would just like old times.

Pretty much same as normal......but finally you won't get the last word in!

 

[hogjowl]

We could prop him up right next to Jimmy's Dad.

 

[Desk Jockey]