Don't put it off until tomorrow

Nation's Business, April, 1997 by Mary Y. McElveen

Being the risk takers that they are, many entrepreneurs bet that they won't die soon, that they'll have plenty of time later for estate planning. Of course, they're playing with the devil in the form of Uncle Sam. He's just waiting for the huge take he's going to get when they die. And if recent studies are accurate in finding that high percentages of business owners fail to plan, he's going to get a lot.

If you're one of those bet-hedging entrepreneurs don't delay. Protect as much of your assets as you can. Otherwise, Uncle Sam is almost certain to be your biggest beneficiary.

You might want to begin by reading our cover story, written by Contributing Editor Randy Myers and beginning on Page 20. It's designed to help you hand down your business to the people you choose.

Remember, Uncle Sam used to want you. Today he wants your money.

In Small Business Financial Adviser, we aim to help you protect your earning power. The likelihood of your losing some of it to a disability is much greater than you may think. Be sure to read this important story, beginning on Page 75.

On an uplifting note, don't miss the article on the exceptional companies named as national honorees in the 1997 Blue Chip Enterprise Initiative. (The owners, with their awards, are in the photo at left.) Their stories are reported by Senior Editor Michael Barrier and begin on Page 27.

If you think you might be interested in buying a business and want to know what kind of enterprises might prove prosperous, see our special franchising report, beginning on Page 68. Written by Associate Editor Roberta Maynard, it offers an interesting glimpse of potential growth industries.