Pub. 2 2012 Issue 1

10 AUTOMOBILE DEALER NEWS ILLINOIS www.illinoisdealers.com ask yourself: What size estate do I want to assume for estate plan- ning purposes? After all, estate planning is nothing but making competent, long-range plans to pass on some size of an estate to those you love. I don’t know if our estate will have to pay taxes. Don’t think that if your estate is less than $5 (or $10) million, there is nothing you need to do! Up-to-date estate planning docu- ments and buy-sell agreements are essential to ensure that your assets—including your business—are distributed ac- cording to your wishes. Remember, the $5 million exemption and 35 percent rate are effective only for two years. Whether Congress will act to extend these limits for 2013 and beyond is unclear. It just doesn’t matter. This mindset (which is seldom spoken) really underscores the human side of estate planning. It springs from a struggling economy and has nothing to do with estate planning. Estate planning has everything to do with how you would like to be remembered at the end of your life. I have no control over things. It’s a sign of the times to hear business owners say this about their estate and their estate planning. In fact, when it comes to estate planning, most of the control is in the hands of the owner—if he or she chooses to exercise it. You can choose to go to an attorney. You can choose a generalist or estate planning specialist. You can choose to ignore or take advantage of the generous estate tax provisions Federated is committed to helping family business owners complete this important planning. This is why our marketing representatives direct our clients to skilled estate planning attorneys and personally help facilitate much of the “leg work” that can make the process go more smoothly. Your local Federated representative would be happy to visit with you about this. After all, your legacy should not be left to change. Go to our Web site at www.federatedinsurance.com for information on all of Federated’s value-added programs. Q legacy for the future — continued Predicting Lender Acceptance is Like Predicting the Weather You Could Be Wrong Secure customer financing with confidence by submitting a single contract to several lenders at one time – the LAW ® 553 Retail Installment Sale Contract. For more information, contact your local Document Consultant or call 800.344.0996. that exist. You can choose to arrange leveraged, certain, and cost-effective funding ahead of time. You can choose to talk your estate planning situation with a trusted facilitator. You can choose to decide to take action this year. Your life’s work should not be left to chance While the last year or so have been difficult, it has also been a time when many people are getting back to basics. Financially, many are spending less, saving more, and taking on less debt. Emotionally, many are setting aside unproductive attitudes and recommitting to core values. For successful business owners, estate planning is a key tool to fulfill their core values and pass on the legacy they desire—no matter the outside storms. Q This article is intended to provide general recommendations regarding risk prevention. It is not intended to include all steps or processes necessary to adequately protect you, your business, or your customers. The risk management practices described above are for illustration purposes only. You should always consult your personal attorney and insurance advisor for advice unique to you and your business. © 2011 Federated Mutual Insurance Company. All rights reserved. REACHYOUR TARGET AUDIENCE AFFORDABLY Find out how targeted advertising can produce real, measurable results for your organization. Don F. Brown, Advertising Sales 801.746.4003 | don@spectruminkpublishing.com ADVERTISE AND GET RESULTS