Mountain Views News          Saturday, March 12, 2016

B5

BUSINESS NEWS & TRENDS

Mountain Views-News Saturday, March 12, 2016 


FAMILY MATTERS By Marc Garlett


TALKING WITH YOUR 
FAMILY ABOUT YOUR 
ESTATE PLAN

Is it time to have “the talk” with your kids? I’m 
not talking about a “birds and bees” talk but one 
that is equally important, perhaps even more so.

 Everyone has concerns about what will happen 
when they die. Some people worry about their 
homes, cars, or money. Others worry about 
their children. Rare, however, is the person who 
actually wants to talk about these things with 
their families.

 Opening these conversations with your family 
will be difficult, but nowhere near as difficult 
as it would be on your family in the absence 
of advanced planning. Fortunately, there are 
steps you can take before - and during - the 
conversation to help it go more smoothly.

Preparation Is Paramount

 As with many things in life, preparation is a 
key to success in these types of conversations. 
First, when you designate key people in your 
plan, make sure you match the skills of the person 
to the job. For example, the executor of a will 
must be able to gather assets, prepare paperwork, 
handle finances, and deal with potential family 
disputes. It would be unwise to select an executor 
who lacks the ability to carry out these tasks.

 Too often, people choose executors, trustees, 
guardians, and powers of attorney based on 
emotions or arbitrary factors, such as who is 
the oldest child or who might be offended if not 
chosen. These are difficult, demanding jobs, and 
you need to choose people who can handle them. 
It also helps to talk these issues through with an 
experienced attorney or confidant in advance of 
making your selections.

 Next, prepare your paperwork before your 
family meeting. Work with your lawyer to 
make the best decisions possible, and commit 
them to writing. This will help reduce any 
misunderstandings about your wishes.

 Before the meeting with your family, consider 
the questions that may arise. For example, if 
you are concerned that one child will be upset 
because you name another child executor, be 
ready to answer questions about why you made 
that decision. It may be that the person you chose 
is an accountant and would be well-suited for the 
job, or it may be that you’re concerned about 
overburdening the other child. Whatever the 
case, be prepared to offer your reasoning. Your 
explanation will go a long way toward reducing 
any hard feelings and potential disputes when the 
plan comes into play.

Come Prepared for Business

 Once you have your family together, it is 
important that you not only let them know what 
your decisions are, but also that it is important 
to you that they support you and each other. 
Have copies of your documents available so your 
family can ask questions about them.

 You should be prepared to answer potential 
questions. And remember, this may be an 
uncomfortable topic of discussion for your family 
members. If someone just can’t get onboard, 
remember that you are dealing with your life and 
your assets. The ultimate decisions as to how 
you handle them are yours, and you can even 
terminate the meeting if necessary. Also, make 
sure your family knows that your decisions may 
change as time goes on.

 Finally, remember the goal for this discussion 
is to provide your family with more than just a 
set of legal documents outlining your wishes. By 
talking to them about your intentions you are 
helping them gain understanding, comfort, and 
even buy-in with your plan.

 Dedicated to your family’s wealth, health, and 
happiness,

A local attorney and father, Marc Garlett is on 
a mission to help parents protect what they love 
most. His office is located at 49 S. Baldwin Ave., 
Ste. G, Sierra Madre, CA 91024. Schedule an 
appointment to sit down and talk about ensuring 
a legacy of love and financial security for your 
family by calling 626.587.3058 or visit www.
GarlettLaw.com for more information.

A CASE STUDY: WHEN YOU GIVE, YOU GET

We recently helped the Downtown Arcadia Improvement 
Association with a Give Away campaign at the Gold Line 
Grand opening event. Instead of having a booth with 
smiling faces show up for one day and be forgotten, we 
decided to design a campaign to get real results, exposure for 
the local small businesses and grow the email list. 

 The campaign started a month before the event (not the 
day of the event). Downtown businesses joined forces and 
donated big prizes (bikes, an electric guitar, a hotel stay, spa 
certificates, coupons to restaurants and stores etc.) These 
were promoted all month long with emails, social posts 
and word of mouth. The campaign continued after the 
event with pictures of winners and another give away for 5 
unclaimed prizes. 

Some of the results:

 The new owner of Stacked Sandwich saw the value in 
giving big. He donated 8 certificates for $25, one certificate 
for $50 and a dinner for two (off menu) valued at $100. We 
did a simple video on Facebook about him; 5,071 people saw 
it! During the day of the event, he ran out of hamburgers and 
tripled his business. When you give, you get! 

 We grew the email list by 660. We reached over 20,000 
people on-line. 5,511 people engaged with our content. On 
the day of the event, our booth was buzzing with excited 
people ready to win and aware of the generous small 
business owners in Downtown Arcadia.

The bottom line:

 Leveraging a large event or holiday can help you grow 
your business. Collaborating with other businesses and 
working together is good for everyone! Be generous if you 
do a give away campaign; don’t just give a 10% off coupon. 
There has to be a good hook to create a good buzz. When 
you give, you get!

 If you want to learn more about digital marketing and 
campaigns that get results, HUTdogs will be offering a 
workshop, March 17 & 24 at the SBDC in Pasadena and 
March 18 at the Arcadia Chamber of Commerce. The classes 
are free to attend. To register, sign up at www.hutdogs.com/
workshops/schedule 

 About MJ: MJ and her brother David own HUTdogs, 
a creative services and digital marketing business. “Like” 
them on Facebook at www.facebook.com/hutdogs. Sign 
up for their upcoming workshops at: www.hutdogs.com/
workshops/schedule 

 
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