from Kerry Lutz's Financial Survival Network
Wayne Zell, a CPA and attorney, discussed the importance of having an exit plan in place when starting a business. He recommends creating a revocable trust to avoid probate and to maintain control of the business. He also suggests having a management succession plan in place to ensure family harmony and to benefit the community. Wayne also advises entrepreneurs to make time for their passions outside of work and to plan for the future after exiting the business.
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