Integrate Your Personal and Organizational Planning

The primary focus of this book is the creation of wealth through entrepreneurial behavior. Creating wealth is of minimum value, however, if it is not preserved. Therefore, the final planning consideration is an integrated review of personal and organizational planning. Start by thoroughly reviewing wills and trusts to assure that these personal documents are complementary to business documents prepared through the business continuation planning process. 

Explore ways to optimize federal estate tax credits. Examine a Living Trust as a way to reduce or avoid probate expenses. Consider the use of an Irrevocable Trust to provide liquidity for the payment of federal estate taxes. 

Most people create a will shortly after marriage, graduation from college, or before leaving for an extended trip. Most people also buy an automobile when they begin a career. Yet how many do you see driving the same vehicle years later when situations and success have changed their financial condition? Think about it. What model financial plan are you driving? 

The planning information in this chapter is valuable. Take these Habits to a lawyer and insurance agent meeting our suggested selection criteria. Ask them to use this chapter as a basis for creating legal documents and funding suggestions appropriate to your needs. 

Achievement creates wealth. Planning preserves it. I've implemented every wealth-creating and wealth-preserving concept discussed in this chapter. Planning has worked for me. It can work for you.