...For many owners of privately held companies, selling their business represents the culmination of years of work and offers the prospect of financial security for life. Our experience has shown, however, that without strategic financial planning prior to the sale, an owner may not realize its full potential. By defining personal objectives and putting a few key strategies in place, an already lucrative transaction can become a golden opportunity—without slowing down the sale process. Bernstein has developed an analytical framework designed to identify the critical alternatives when selling a business. By integrating potential deal terms, key tax- and estate-planning strategies, and the business owner’s financial goals, the owner and his team of advisors can, we believe, most effectively extract maximum value from the deal. While the model is best used on a personalized basis, our research has uncovered some global themes: • The sale of a business often allows the owner’s spending, legacy, and philanthropic goals to be met—but not always, particularly if strategies to meet them are not mapped out at the beginning. The solution is to ensure that sufficient assets will be set aside to address the owner’s top financial priority (often his spending needs), and then work out plans for meeting his other critical needs—all prior to the sale. • Generating the most value from a transaction is not necessarily tied to finding the highest sale price. Often, the maximum benefit...
Words: 3941 - Pages: 16
...Gratitude and Well-Being Philip C. Watkins Eastern Washington University Content This chapter attempts to review the research that speaks to the relationship between gratitude and well-being. Considerable evidence shows that gratitude is associated with emotional and social well-being, and experimental work has provided promising evidence that gratitude causes enhancements in well-being. I propose that gratitude supports well-being because it amplifies the good in one’s life. Gratitude and Well-Being Gratitude is the most pleasant of virtues, though not the easiest…. Gratitude is a mystery, not because of the pleasure it affords us but because of the obstacles we must overcome to feel it. It is the most pleasant of virtues and the most virtuous of pleasures. -Comte-Sponville (2002), p. 132 At a recent convention a colleague asked me, “Why is gratitude so great?” His question came about while discussing the many virtues that seem to result from gratitude (Watkins, 2004; Watkins, Van Gelder & Frias, 2009; Wood, Froh & Geraghty, 2010). In this chapter I will seek to answer this important question. In pursuing this goal I will first attempt to define gratitude and I will present several ways of assessing this emotion and virtue. I will then review the research that speaks to the issue of whether gratitude is all that “great.” Third, I will explore the “how” of gratitude; I will suggest several mechanisms that might help explain how gratitude...
Words: 9399 - Pages: 38
...Anima: ----------- You've seen this aeon. Earlier in the game at the Luca Blitzball tournament, Seymour Guado summons a huge beast, this beast is Anima. Now it is your turn to acquire this truly powerful and great summon. To obtain Anima is fairly easy. You have to have solved the destruction sphere puzzles in all 6 of the main temples across Spira. This means that you have to of bused the destruction sphere and acquid a special item in Besaid, Kilika, Djose, Macalania, Bevelle, and Zanarkand (return after you defeat Lady Yunalesca). Now, if you missed any, don't fret because you can return to all the temples but one( Bevelle), and solve the destruction sphere puzzle. Once this is complete, enter the arship and enter the co-ordinates X:14 and Y:60 (move around witht the cursor to enter the co-ordinates). You will also remember this place from the very beginning of the game, when you first entered the world of Spira. That's right you back at some ruins of an ancient temple. Well remember that fish that attacked you earlier in the game, Geosgaeno? Well it's payback time, equip Tidus, Wakka, and Rikku with Stone- proof armor, and get them on overdrive. The battle can be rough however it shouldn't be. Once you defeat Geosgaeno, you will find yourself in the center of a circular map, swim towards the north to enter Baaj Temple. If you have solved all of the destruction sphere puzzles you will be able to activate all six of...
Words: 536 - Pages: 3
...drop out. Clearly, failing to finish school does not mean they will not be successful. He then also explains that parents are the ones who demand that we do not fail instead of telling us to “not” be afraid to fail. Although it may be difficult for parents, accepting their child’s future will offer a way for their child to become stronger and ready for the obstacles in their life. Furthermore, Zinsser cited Fred Zinnerman, the famous Hollywood director, who after the extreme failure of one of his films, defended failure by claiming, “I don’t feel obligation to be successful.” He continues, “Success can be dangerous --- you feel you know it all. I’ve learned a grat deal from my failures.” Zinnerman expressed that the key is to success is a failure and he views it as a learning tool. Zinsser makes a valuable point in this essay...
Words: 557 - Pages: 3
...Estate and Gift Tax Outline Repetti Fall 2013 Boston College Law School Casebook: Federal Wealth Transfer Taxation, 6th Edition Table of Contents Filing Returns 3 Gift Tax: 3 Estate Tax: 3 Generation-Skipping Tax: 3 Statutes of Limitations, Interest, Penalties: 3 Computation of the Estate and Gift Tax 3 General Description of Gift Tax: 4 General Description of the Estate Tax: 4 Role of State Law 4 Scope of the Estate Tax 5 Beneficial Ownership and § 2033: 5 Interests Arising at Death 5 “Property” versus “Expectancy” 6 Bank Deposits, Checks, and Notes 6 Right to Accrued Payments 7 The Scope of the Gift Tax: §§ 2501 and 2511 7 Is There a “Transfer” of “Property?” 7 Interest-Free Loans and Rent-Free Use of Other Assets 8 When is the Transfer “Completed?” 8 Transferred Interest Incapable of Valuation 9 Indirect Transfers 10 What is a “Gift”? 10 Donative Intent and “Adequate and Full Consideration” 10 Transfers of Property in Satisfaction of Marital Rights 11 Dower and Curtesy Interests in the Gross Estate 11 Marital Rights as Consideration 11 Transfers Incident to Separation and Divorce 12 Transfers with Retained Powers and Rights 13 Transfers with Retained Life Estates: § 2036 13 Reciprocal Trusts 14 Retention of Right to Income from Property: § 2036(a)(1) 14 Retention of Possession or Enjoyment of the Property: §§ 2036(a)(1) and 2036(b) 14 Retention of Power to Designate Who Shall Possess or Enjoy the Property:...
Words: 31030 - Pages: 125
...A/B Trusts An A/B Trust is any type of trust that splits into two separate and distinct trusts upon the death of the grantor. One of the separate and distinct trusts is a Credit Shelter Trust, which is designed to hold as much of the grantor's property as is sheltered from the federal estate tax by virtue of the unified credit; i.e., $2,000,000 for decedent's dying in years 2006, 2007, and 2008, and $3,500,000 for decedent's dying in the year 2009. The other separate and distinct trust is a Marital Trust, which is designed to hold the remainder of the decedent's property, which is sheltered from the federal estate tax by virtue of the unlimited marital deduction. These separate and distinct trusts are designed to eliminate or reduce the federal estate tax liability of a married couple over the deaths of both spouses. An A/B Trust arrangement can be created under a living trust or a testamentary trust, since these provisions do not take effect until after the grantor's death. See "Credit Shelter Trusts" and "Marital Trusts." See also "Family Trusts" and "By-Pass Trusts." Back to Table of Contents Asset Protection Trusts An "Asset Protection Trust" is a type of trust that is designed to protect assets from the claims of creditors. There are two types of Asset Protection Trusts - a Domestic Asset Protection Trust (also known as an "Onshore Trust" or "DAPT") and a Foreign Asset Protection Trust (also known as an "Offshore Trust"). Both types of trusts are also referred to...
Words: 3639 - Pages: 15
...Student Name:The cJaclyn Mckneeas Date Submitted: 1/25/2014 Class: HUM/130 – Religions of The World. Instructor: Chad Schuchmann Assignment: Final Exam Total Point Value: 200 points Directions: Type your answers to each question in the gray space. The spaces will expand as you type to allow as much room as necessary to answer the questions. There are seven sections to this exam. Please make sure you complete all seven sections. This is an open book exam. It is not an open internet exam. I will check for copied information from the internet. Use of the internet (aka copied or paraphrased) will result in a grade of zero for the entire exam. Locked Document: This is a locked document. Please do not unlock and modify any portion of this document. Use only the gray areas to provide your answers. I. True/False: 2 points each (10) Click on the gray box and highlight correct answer to indicate each statement as either true or false. 1. Buddhists worship the statue of the Buddha 2. Hinduism is the only religion that believes in reincarnation 3. Abraham is important in all of the Monotheistic traditions (Judaism, Christianity and Islam) 4. Hinduism developed in response to Buddhism 5. Judaism and Christianity both revere the Pentateuch, Nevi’im, and Ketuvim II. Matching: 2 points each (20) Click on the gray box and select the religion which BEST matches with the term listed. It is possible that the same religion may be used as more than one answer...
Words: 2004 - Pages: 9
...Wills, Trusts, and Estates FIN 4004 Spring, 2013 CRN 13341 (MW 4:00-5:15pm) Jason Bryan Malone, Esq. 2117 Pamplin Hall Email: jbmalone@vt.edu Office Hours: MW 12:10pm-1:10pm (Additional hours will be posted on Scholar throughout the semester) (Please feel free to make an appointment or come by during other times) Text: Estate Planning for Financial Planners, 6th ed., Michael A. Dalton and Thomas P. Langdon Course Description: Estate Planning focuses on the efficient conservation and transfer of wealth, consistent with the client’s goals. It is a study of the legal, financial and non-financial aspects of this process, covering topics such as trusts, wills, probate, advanced directives, charitable giving, wealth transfers and related taxes. Course Objectives: At the end of this course, the student should be able to understand, explain, analyze and evaluate estate planning needs and taxation in order to recommend appropriate techniques for meeting estate planning and objectives, including without limitation: • Determine client estate planning needs and objectives, taking into account financial and non-financial (behavioral/social/emotional) aspects of estate planning • Understand the effects of the lack of estate planning, including state laws of intestacy • Project estate taxation and liquidity needs in various situations • Recommend appropriate and efficient methods of wealth transfer for a client’s situation, including...
Words: 1962 - Pages: 8
...Milano 101088515 Jeffrey Vanderveen 101123348 Raja Sekhar Ravi 100856384 Isaac Husain Aditya Vaggani 1 Executive Summary Visitors, particularly international travellers to regional Victoria are often unaware of and are illprepared for the fire hazards posed by the dry Australian country side. Early warning and response are critical in improving the chance of escape and survival from a bushfire event. Previous bushfire events including the recent fires in the Cape Otways, Great Ocean Road, Victoria (December 2015/January 2016) caused widespread devastation and impaired access into and out of the main towns. Many visitors to these areas were caught in the event and were unsure as how best to respond and what action to take. This report presents the findings from the investigation into the observed problem of the lack of awareness of bushfire hazards and risks amongst visitors of regional Victoria. The report describes how the Group has come to a better understanding of the problem through the use of various Design Thinking and Lean UX tools and approaches. The application of the tools has identified invaluable insights into the customer’s needs which provided the Group with the confidence to better define the problem statement. The process also assisted in the identification of key metrics that the Group can use to drive an optimum problem-solution fit. These metrics shall be refined and used to measure the solution’s success. 2 TABLE OF CONTENTS ...
Words: 3689 - Pages: 15
...is willing to pay up to (at most) $10 for an additional unit of the product. Marginal Utility per $ spent: MU Good A Price of good A Interpret: MU A P A Ex: Buying one more burrito (from 1 to 2) gives you an ↑ in utility of 10 & costs $5 2 A. Deriving a demand curve for slices of pizza for Carlos Slices 0 1 2 3 4 5 6 7 8 9 10 Total Utility 0 200 390 570 740 900 1030 1130 1200 1240 MU if P MU X 200 P=$2 MU if P P=$1 MU if P P=$0.50 10 Cheeseburgers That cost $0.50 Total Utility 130 240 340 430 505 555 580 595 605 610 Slices 1 2 3 4 5 6 7 8 9 10 MU 130 MU P Carlos’ wife gives him $5 every day for lunch and any money he does not spend on lunch is stolen by his coworker Grat. 3 If Carlos is a utility maximizer & pizza costs $2 how much does he buy? Pizza bought CheeseB. he can afford Total Utility How about if pizza costs a $1? Pizza bought CheeseB. he can afford Total Utility How about if pizza costs $0.50? Pizza bought CheeseB. he can...
Words: 3431 - Pages: 14
...MINISTERIET FOR BØRN OG UNDERVISNING KVALITETS- OG TILSYNSSTYRELSEN Dansk Højere forberedelseseksamen Hæfte i K l . 9.00-15.00 Torsdag den 31. maj 2012 kl. 9.00-15.00 Prøvemateriale Hæfte 1 Side Tema Opgaver Fællestekster - udleveres kl. 9.00: 1. Lise Ammitzbøl m.fl.: Det moderne gennembrud 2. Anonym: Idé og Virkelighed 3. Henrik Ibsen: Et dukkehjem 4. Herman Bang: Fattigliv 3 3 4 5 6 8 Billeder: Side 10: Ilja Repin: Pramdragerne fra Volga (maleri, 1870-73. Det russiske Statsmuseum i Skt. Petersborg) Side 11: Christian Krohg: Kampen for Tilværelsen (maleri, 1888-89. Nasjonalgalleriet, Oslo) Side 12: Elin Danielson-Gambogi: Ved Thebordet (maleri, 1890, udsnit. Privateje) Hæfte 2 Særtekster - udleveres kl. 10.30: 5. Novelle af Henrik Pontoppidan 6. Romanuddrag af Amalie Skram 7. Tale af Johanne Meyer 8. Artikel af Katrine Winkel Holm Ortografi og t e g n s æ t n i n g følger originalerne. Trykfejl er dog rettet. Tema: Det moderne gennembrud Temaet for hæfte 1 og 2 er perioden Det moderne gennembrud, 1870-1890. Tekster og billeder handler om undertrykkelse og frigørelse, med fokus på kvinders og arbejderes forhold. Opgaver Du skal besvare én af opgaverne 1-3. Anfør opgavens nummer, og formuler en overskrift som led i din besvarelse. Opgave 1 Skriv t i l et hf-hold et analyserende oplæg om kritik af underklassens forhold i tekster fra Det moderne gennembrud. Som en central del af din besvarelse skal du analysere og fortolke Pontoppidans...
Words: 2876 - Pages: 12
...The Market Research Encyclopedia by Vincent E Barabba To market well, you have to satisfy and at times exceed the expeetations of the customer. But how do you know what the customer wants; According to the textbooks, market research ought to provide the answer. Unfortunately, heeause of the way most traditional marketing research is conducted, it has fallen short of this important objective. At the core of the problem is the practice of using marketing research to confirm that a decision already made is the right decision rather than using market research to identify alternative choices and to support the process hy which the hest alternative is ehosen. In this series of foldout tables, I present a guide for managers who want to use market research to develop and support market-based decisions. The tables form a decision-support framework that uses research tools to help companies develop a balanced approach to the "technology push/demand pull" product development process. The structural components of the framework are accountable management, the company's decision process, marketplace reality, and the market research function. The five sections of the gateiold identify the steps researchers must take: (1) Assess market information needs; (2) Measure the marketplace; (3) Store, retrieve, and display the data; (4) Descrihe and analyze HARVARD BUSINESS REVTEW laiuuirv-Febiiiatv 1 ^ market information; (5) Evaluate the research and assess its usefulness. The reference material...
Words: 4013 - Pages: 17
...The three rules of asset protection are (1) do not own significant assets in your own name, (2) use multiple entities to own your assets, and (3) keep assets and the entities that hold your assets in different or in multiple jurisdictions. * The first line of defense, which is limited, includes statutory protection and insurance. * The second line of defense is owning separate assets through multiple entities, including trusts, corporations, partnerships, limited liability corporations and partnerships, foreign grantor trusts, and domestic asset protection trusts. * The third line of defense is locating those entities in multiple jurisdictions. * A hypothetical client situation is used to illustrate specific methods of applying this knowledge. * In the future, informed planners will be those who understand their professional responsibility to help clients protect their assets.Richard Kahler, CFP®, CCIM, offers integrated financial planning through Kahler Financial Group in Rapid City, South Dakota. He is a nationally known speaker, educator, and co-author of two books, Conscious Finance and The Financial Wisdom of Ebenezer Scrooge.Richard K. Colman, J.D., is a registered financial advisor and noted public speaker and tax expert who...
Words: 5352 - Pages: 22
...bout [pic] [pic] Welcome to Bhutan – the Land of the Thunder Dragon one of the most sought after travel destinations today. The land of the thunder dragon kingdom is a trekker’s paradise and an environmentalist’s dream. With 72 percent of the country under forest cover, Bhutan’s pristine ecology is home to rare and endangered flora and fauna. This spiritual land is the last bastion of the Vajrayana school of Mahayana Buddhism which provides the essence of a unique identity for the 750,000 people. Bhutan is a unique blend of the old and new. Here is a country that is slowly opening up to the modern world in a fine balance with its ancient traditions. Those fortunate enough to visit Bhutan describe it as a unique, deeply spiritual and mystical experience. This kingdom is an adventure like no other. Facts and Figures Land area: 38,394 square kilometres Forest area: 72.5 % Altitude: between 240metres and 7541metres above sea level Inhabitants: 634,982 Language: official language “Dzongkha”, English widely spoken Religion: Vajrayana stream of Mahayana Buddhism (Also known as Tantric Buddhism) Currency: Ngultrum (equal to Indian Rupee) Capital: Thimphu National Tree: Cypress (Cupressus torolusa) Its capacity to survive on rugged harsh terrain is compared to bravery and simplicity. National Bird: Raven: It ornaments the royal crown. Raven represents the deity Gonpo Jarodongchen (raven headed Mahakala), one of...
Words: 9230 - Pages: 37
...* Chapter 20: The Formation of Sales and Lease Contracts - When we turn to contracts for the sale and lease of goods we move away from common law and into the area of statutory law. - UCC article 2: on sales, 2A: on leases - The goal of the UCC is to simplify and streamline commercial transactions, allowing parties to form contracts without observing the same degree of formality used in other types of contracts by making laws governing sales and lease contracts clearer, simpler and more readily applicable to the difficulties that can arise during such transactions. The Uniform Commercial Code (1949) Comprehensive Coverage of the UCC UCC: single most comprehensive codification of laws involved in total commercial transaction Views commercial transaction for sale and payment of goods as a whole Article 1: General Provisions Definitions and general principles applicable to commercial transactions, including an obligation to perform in “good faith” all contracts un the UCC Provides basic groundwork for the remaining articles A Single, Integrated Framework for Commercial Transactions UCC attempts to provide a consistent and integrated framework of rules to deal with all phases ordinarily arising in a commercial transaction Many sections from the different articles can apply to a single transaction Periodic Revisions of the UCC To clarify certain rules or establish new rules when changes in business customs have rendered existing UCC provisions inapplicable ...
Words: 9821 - Pages: 40
