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What Business Owners Should Know About Trumps Impact on Estate Taxes

Press Release - October 5, 2017

The announcement of the proposed repeal of the federal estate tax and the GST tax could provide an immediate opportunity for those that want to take advantage before the next presidential change. For business owners and high net worth individuals, the repeal affects those that have an estate plan in place, as well as those that are either in process or need to get their plan established.

 “Clients often ask us why they should even bother addressing their estate tax issues if the estate taxes are going away, based on proposals from the current administration“ comments Hugh Roberts. “The truth of the matter is that this is a fight that has been going on in Congress for the last 50 plus years. Regardless of the outcome, it will likely change with the next administration. Therefore, being prepared and being ready to act when given opportunity, is more important than waiting for the perfect combination of time or situation, if not for any other reason, the unknown is unpredictable,” continued Roberts.

 Earlier this year, Hugh Roberts wrote an article focused on Trump’s effect that you can read here http://seekingsuccession.com/index.php/easyblog/newsletter-archive/whats-the-trump-effect-on-estate-taxes

 

About The Rawls Group

The Rawls Group, specializes in working with business owners and key leaders addressing issues impacting the ongoing viability and sustainability of their business, including:

  • Optimizing current business performance
  • Recruiting, retaining and motivating key managers
  • Coordinating complex family, business and estate planning dynamics
  • Enhancing family relationships
  • Developing successors
  • Growing strategically

We serve as a catalyst to facilitate the discussion and resolution of sensitive issues so all stakeholders are reassured about the organization’s current and future prosperity. By partnering with our clients and their advisors, we work to develop a plan that perpetuates the leadership, culture, performance and relationships that are critical to business success.

 

For more information about The Rawls Group or questions in regard to the proposed legislation impacting estate plans, please visit our website at www.rawlsgroup.com or contact Kendall Rawls at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

 

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Let’s take “good” and “bad” out of the picture for a moment. Instead, let’s focus on effectiveness and ineffectiveness. Can the same leader be effective and ineffective? Does it matter who’s being led? Do skill levels of the followers make a difference? Does individual willingness to follow make a difference?

Well, the answer to all four questions is yes. What comes first, however, is understanding what leaders actually do. In simplest terms, leaders use power and influence to produce results. Period. And everyone leads one or more someones, even if it’s only themselves. When led effectively, people and organizations grow. When led ineffectively, people labor and organizations can feel like a prison.

Read the complete article on the Digital Dealer Website website

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As Seen in Digital Dealer - Business Growth Comes from Sweating the Small Stuff

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If you are having trouble expanding your market, keeping people productive, growing your bottom line, and building lasting relationships with family members, clients, customers, vendors, and strategic partners, then you may want to consider sweating the small stuff. It’s the small stuff that makes the difference.

Read the complete article on the Digital Dealer Website website

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Some things in life are actually fun to plan - weddings, vacations, and special celebratory events. The planning that goes into the event usually leads to a happy outcome, even when there are bumps along the way.

Business Planning, however, usually gets a bad rap. Mention business planning to a multi-unit franchisee entrepreneur or a fast moving, high-energy executive and watch their eyes begin to gloss over. So how do we make business planning fun, exciting, and worthwhile for those involved?

Read the complete article on the Multi Unit Franchisee website

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As Seen in Multi-Unit Franchisee - Benefits Of Employee Engagement Surveys

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Dan Schneider writes in Multi-Unit Franchisee on the benefits of using employee engagement surveys to better understand your business's strengths and weaknesses, and how to use the results to improve your work culture and performance.

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Is Your Business Vision Working for You?

Did you know that it is impossible to not communicate? In the same way, you can’t be in business without a succession plan. Whether or not you have spent the energy and taken the time to engage a host of experts to help you plan for the transition to the next generation of owners and leaders, you have a succession plan.

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As Seen On Automotive Buy Sell Report - Communication is key when integrating a new dealership into your corporate culture

Succession Planner Dan Schneider was featured in Automotive Buy Sell Report. He gives great communication tips to minimize conflict and build trust when adding a new dealership to the business.

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During the Christmas season, people still sing about Frosty the Snowman and that old silk hat the children found and placed on his head. For when the kids put it on his head, Frosty began to dance around. There was magic in the air.

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Caught in a Rut? How to Move from Intention to Commitment

I seldom have the time to watch a lot of television. Some days, however, I channel surf with the best of them. When I find a poker game on the tube, I stop and watch. I do that because I know that at some point, one of the players is going to slide all of his/her chips across the table and go “all in.”

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The Strategic Plan: Dust Bunny or Innovative Road Map

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Exit Strategy: Is There A Role For Me After Transitioning?

I was working with a business owner, John, who was in the process of transitioning management and leadership responsibilities of the business over to a family member. At one point in the process, John asked,

“When Tim takes over my role, what do I do?”

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As Seen in Multi-Unit Franchisee Report - Positional Power: 5 Ways to Find Common Ground with Your Business Partners

If you happen to be an active majority partner in a business, you may sometimes find yourself struggling for alignment with your minority partner or partners, especially if the minority partners are also involved in the business. They assume because they have some percentage of ownership that they may have the positional power to make unilateral decisions that move the business in a direction that suits their liking. In short, they throw their "weight" around; and they pay little attention to the unintended consequences of doing so.

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Some people are obsessed with perfection. Recently, a Board of Directors asked that we conduct a 360 Evaluation of the Chief Executive Officer of their organization. When asked if there were any specific performance concerns, the response was “Not really, we think that Mary Beth is an exceptional leader, organizes well, thinks strategically, and has the full confidence and support of the Board. We just have some concerns that we’re not doing all we can to help her develop, and a 360 will help us identify areas that are deficient.”

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How to Move Under-Performers Up or Out of Your business

Take stock of the employees in your company; most likely you have already mentally classified them into categories of nonperformers, underperformers, average performers, or super performers. Hopefully, you have the majority of your people in the super performer bucket, but in all likelihood, you have a mix of all four types.

As the business environment becomes more complex and even more litigious, it's important to know how to deal with each of the 4 groups for two very different and yet related reasons: Risk Management and Productivity Management. With the concept in mind that you are only as strong as your weakest member the following will provide insight into how to address those in the non performer and under performer buckets.

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How to Check Perfectionism at the Door - Keys to Becoming An Effective Leader

Mary Poppins described herself as “perfectly perfect in every way”. Some of us nourish that same self image as we sing or think to ourselves, "What’s the matter with people today? Why can’t they be like me, perfect in every way?”

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