Happy President's Day!

Happy Martin Luther King Jr. Day!

Protect your family

their future and help a good cause while doing so. Join us (You do not have to be Chinese...I'm not. LOL) Join the Chinese American Citizens Alliance today for only $35.00 and get more than $3,000.00 worth of benefits immediately by attending this Series of Seminars. Thank you or your time. Note: This is a direct message from me to you and not a automatic email blast...please don't expect to receive more. Feel free to call or email me with any concerns questions of RSVP's as seating is limited. For those of you whom are not located in Las Vegas, their are multiple chapters across the country, however you may still join as an associate member and I will honor the seminar benefits even if I have to schedule FREE conference calls at your convenience to those of you whom are not in Las Vegas....this is my promise and dedication to both you and the communities with which we live. Have a great weekend and HAPPY NEW YEAR!

Mid-Autumn Moon Festival

You're invited to Join us...

Don't Be Like Prince, Be a King! of Pop that is...the Michael Jackson Estate!

Every so often I like to provide a little helpful information to my friends and clients even if but to jog their memory. Many people are aware of the passing of Prince Rogers Nelson also known as "Prince" and "The Artist formerly known as Prince" the very successful artist/singer that many of us learned to appreciate his music and other talents. As you may or may not know that he was worth well over 300 milllion dollars, a net worth many of us aspire to achieve, but alas may not. However; regardless of his net worth he wasn't blessed or cursed with a friend like me (Depending on how you look at it), but all jokes aside, he departed this earth without a WILL and or TRUST. You may ask how is that possible....well it is. In any case, I just wanted to inform you all that its not as complicated or as expensive as you may think to ensure the protection of your family and assets so that they don't go to the STATE should something bad happen to you, as in Princes's case, more than 150 MILLION DOLLARS is now in the States hands simply because he didn't have these items in place.

We have a service that can provide you with a WILL, TRUST, MEDICAL and FINANCIAL Powers of attorney for as little as $499.00 or only $87.00/month (Which includes other benefits and services). I really urge all of you to make sure you have these items in place and all it takes is one call to me or any of my representatives to get this started and you and your family won't find yourselves in the same position and the Nelson family. By the way, if you believe that because you may not have much, you don't need these things, think again, because the bank isnt going to just let you get your loved ones money out of the account even if it is only $100.00 without certain legal documents in place....nor will you be able to sell their property, (cars, stock etc.) and you may not even be able to gain immediate access to their home or apartment to take care of their things if they are not able to. Without these items in place you could be looking at going through a legal process called Probate...which could cost you any amount from $5000.00 to well you get the idea and take months to gain the access you need to handle their affairs.

Talk to your loved ones and make this important decision....WHETHER YOU CHOOSE TO USE MY SERVICES OR NOT...PLEASE, PLEASE PLEASE just look into it. 


CLick here to learn more about our MY CARE PLAN which includes a WILL, TRUST, MEDICAL and FINANCIAL POWERS of ATTORNEY.

Click here to ENROLL in our services for your WILL, TRUST, MEDICAL and FINANCIAL POWERS of ATTORNEY for $499.00(For a $100.00 Discount contact us by May 15, 2016 to enroll in the office or by phone)

Click here to ENROLL in our PROTECTION PLAN that includes your WILL, TRUST, MEDICAL, FINANCIAL POWERS of ATTORNEY as well as CREDIT RESTORATION Services and 8 other included valuable services for only $87.00/month.

On that note:

Many estate planning professionals advise their clients to review their plans every two years. Additionally, if one of any of the following events should occur, we recommend you review your documents for any possible changes that may be needed:

• You marry, remarry or divorce
• You have a child or new grandchild
• You move to a different state
• Your assets change in value significantly and/or the estate tax laws change
• One of your heirs dies or has a permanent change in health
• Your children reach 18 years of age
• The laws affecting your estate change
• The executor of your will or the administrator of your trust dies or becomes incapacitated, or your relationship with that person changes significantly

Please call or email me for a free consultation about the services above if you have questions.

Nearly seven years after his death, the yawning, half-billion-dollar abyss of debt that Michael Jackson left behind has turned into a mountain of profit whose latest summit was topped this week thanks to a massive payday on his 50 percent stake in Sony/ATV.

Sony to Buy Out Michael Jackson Estate's Half of Sony/ATV Music Publishing

The $750 million deal has Sony Corp. buying out the Jackson estate's piece of Sony/ATV, the joint music publishing company, whose holdings include songs by The Beatles and Bob Dylan. Jackson, who died in 2009, paid $41.5 million for ATV Music in 1985.

It was just the latest in a string of blockbuster moves that last year pushed Jackson to the top of Forbes' list of Top-Earning Dead Celebrities with a reported $115 million, ahead of Elvis Presley, Bob Marley and Marilyn Monroe.  

According to that report, the singer's estate has rung up more than $1 billion, pre-tax, to date. With the Sony deal, the estate's executors -- attorney John Branca and music exec John McClain -- have pulled off what a source close to the estate called a $1 billion turnaround, from $500 million of debt to $500 million in cash.

Here's how they did it: 

· After feuding with the family over its release, the posthumous documentary Michael Jackson's This Is It, released four months after Jackson passed in July, 2009, went on to become the highest-grossing music documentary of all time, with worldwide box office in excess of $300 million. The estate took in 87 percent of the back-end on the movie, with the source putting the gross figure going into the estate's coffers at north of $200 million when TV rights and DVD sales are factored in.

· In 2010, Branca and McClain brokered what a source called the biggest record deal in history, a $200 million guaranteed contract with Sony covering seven albums and other associated projects.

· Jackson's catalog continues to be a monster. Estimates of posthumous sales in the first five years after his death were in excess of 13 million in the U.S. alone. Considering that Jackson has consistently sold an estimated 70 percent of his records outside of the U.S., total sales since 2009 have easily surpassed 43 million worldwide. That makes Jackson the No. 1-selling global artist over the past seven years, surpassing such contemporary superstars as Adele and Taylor Swift.

· The 2012 Michael Jackson: The Immortal Tour -- an equally split joint venture with Cirque du Soleil in which the estate earned a 13 percent cut off the top of box office sales -- grossed more than $370 million worldwide, making it one of the top-grossing rock tours of all time.

· A permanent show at Mandalay Bay in Las Vegas, Michael Jackson: One, is another fifty-fifty joint venture with Cirque in which the estate earns a 10 percent box office take, which, like “Immortal” includes percentages for royalties and publishing. A source said the permanent performance is one of the top two grossing shows in Las Vegas, just behind Cirque's O, earning around $90 million a year.

· Money also continues to roll in thanks to the strength of the Mijac Music catalog, which holds the rights to MJ's recordings and masters, as well as music by Sly and the Family Stone, Ray Charles, Presley and Aretha Franklin.

· The estate recently renewed a deal with Bally Technologies for the Michael Jackson King of Pop slot machine, extending the pact for five more years. A source said the venture has brought in a healthy eight-figure sum so far.

M & A Legal Management

6655 W. Sahara Ave Ste B200

Las Vegas, Nevada 89146

(888) 449-5841

www.MillersLegal.com

Join me at The Michael Jackson Guest Estate!

$30.00 donation kindly requested for VIP Guest List entry. Please donate at the Eventbrite link here: https://mjfundraiser.eventbrite.com/ Thank you!

Join us for an exclusive black tie fundraiser at the MJ Mansion Resort! This luxurious home was once part of Michael Jackson's Estate. Cocktail reception and appetizers will be served. There will be a Silent Auction, Bachelor/Bachelorette Auction, and Local Filmmakers Showcase. 18 and over. Cocktail attire required.

Everyone who donates to our film projects will have a role as either cast or crew.

Thank you for your support of the local film community and for preserving history on film!

*************VERY IMPORTANT - PLEASE READ!!!**************

Entrance and parking is in lot next to 2710 Palomino Lane. (See map in Discussion section).

For VIP Guest List and security concerns, please RSVP no later than Thursday, April 7, 2016.

All participants must provide full legal name and for security purposes must show valid legal identification on event date to gain entrance. (NO EXCEPTIONS)

********

Everyone who donates to our film projects will have a role as either cast or crew.

Thank you for your support of the local film community and for preserving history on film!

*********************************************************************************

SPECIAL GUEST/S:

Assemblywoman Victoria Seaman

We are happy and honored to announce a special guest who will be attending our fundraiser this coming Friday. Assemblywoman Victoria Seaman, who currently represents District 34, is running for Senate District 6. She will be presenting our host M Joseph Miller II with a special award at the event and speaking to us about her upcoming campaign. To find out more about Victoria, please visit her website at http://www.victoriaseaman.com/ Thank you!

SURPRISE RAFFLE ALERT:

Pack your bags because we are giving away a FREE staycation at the MJ Mansion Resort to anyone who pays the $30.00 donation in advance through Eventbrite! Winner can bring up to three additional guests with them, but they MUST donate $30.00 each as well. Winner will be notified on the evening of Thursday, April 7th. Check in is at 4 p.m. on Friday, April 8th and check out is on Saturday, April 9th at 11 a.m. So when you and your guests check in, you can feel free to relax, lounge by the pool, and enjoy the great amenities of this wonderful celebrity home.

PARKING MAP:
Entrance and parking is in lot next to 2710 Palomino Lane. (See attached map)

SPONSORED BY:

M. Joseph Miller II.
Host: & Senior Partner: M & A Legal

M. Joseph Miller II.
M & A Legal Management

6655 W. Sahara #B200
Las Vegas, Nevada 89146

(888) 449-5841

www.MillersLegal.com

FREE Tickets to March Madness at The Cosmopolitan of Las Vegas!

Limited time and limited tickets only, first come first serve! 

The next customer to Sign up for our Credit restoration service will received two tickets to March 17, 2016 March Madness Hoops and Hops at the Chelsea Theater at The Cosmopolitan of Las Vegas.

Visit MillersLegal.com to learn more about the services.

Be the first to call now (888) 449-5841 and sign up for your Credit Restoration service!

-OR- 

Sign up here

For details about the service CLICK HERE

For details about March Madness Hoops and Hops at The Cosmopolitan of Las Vegas CLICK HERE

2016 Las Vegas Martin Luther King Jr. Day Parade float announcers RACIST?

I'm getting personal...this past Monday, I was thrilled to have been invited to ride on a float as a "Public Figure" in the Martin Luther King Jr. day Parade. No real surprise there...I'm black, and technically a Public Figure (using the term loosely) so of course I was invited. Oh but wait, here is the surprise to most...I wasn't invited by a Good ole Baptist Black church or the Local NAACP of whom I have much respect for. I wasn't invited by the Association of Black Attorneys or for that matter any majority Black organization or association.

I was invited by the GOP, yes you got it...The GRAND OLE PARTY....for those of you whom are still lost...that's the official title of the Republican Party. I accepted as I have for the last several years...some of which I've actually had to wear a bullet proof vest, being the only African American on the float. Oh sure, many Black Politicians visit the float before the parade and shake hands and we all "fellowship" I won't name names....but its rare than any of them actually stick around to be seen on or near the float once it is rolling in front of the public eye!

I digress; here is my REAL PERSONAL COMPLAINT! You see during all parades there is a point in which each float passes a large press stage of announcers, usually community leaders and or some group claiming to be a community group. At which time they announce the passing float over the loud speakers, making mention of the organization, association or business responsible for its decoration or at the very least naming them as participants in the parade. However something I consider extremely RACIST occurred this year at the parade right here in Las Vegas....I'm not sure if many noticed...but I did....being the only Black person on the float and being subject to the BOOS and derogatory comments from parade goers and those of whom we passed.

I know for a fact that that the negative comments were directed at me as I was the only one they could have been directed at when you hear things like..."Whats a Brother doing up there?" "Oh look at this Bougie brother" and the like. Actually I took a position of pleasure when the same overweight lady asked "And who is Ben Carson" then in the same breath immediately screamed "Hey, Ronald Mc Donald". Go figure!

I expect that response from the general public whom have no obligation to conduct themselves with any decorum...but upon passing the stage.....the announcers conveniently ignored the GOP float altogether and immediately began to impress upon the audience the next float and its mascot...you got it. Mc Donalds and Ronald Mc Donald.

My plan is to file a complaint against the announcers and the "community" group they represented with the city and request nothing less than a public apology. Imagine if a group of white announcers completely ignored the NAACP float in the St. Patricks Day Parade or what have you.

OH X-MAS TREE!

Just joking! I still say Merry Christmas! But to those whom are of other faiths,

Happy Holidays!

All joking aside, it's that time again and this weekend will probably be one of the busiest weekends for finding the perfect tree. Luckily, I finally figured out how to PICK THE PERFECT Christmas Tree and am sharing what I learned with you!

Realizing that Scotch Pine and Douglas Fir are most popular because they are nicely shaped and retain their needle retention, many of us like the Spruce although they lose their needles quickly. Regardless of which you choose here is a little helpful tip.

Check for freshness by bending needles. They should be springy. If they break, the tree is not fresh. Bounce the butt of the tree on the ground. If needles fall off, the tree is dry. The bottom of the tree stump should be moist and sticky. The tree should have a good green color, a nice fragrant woodsy odor, be dense and have sufficient limb strength to support the ornaments planned for it.

Cleanliness: The tree should be free of foreign matter such as vines, moss, and lichen.

Shape: The butt of the tree should be clean under the lowest group of branches and cut smoothly at the bottom. There should be a full, symmetrical shape, with branches trimmed to taper toward the top.

Until the tree is to be placed in its indoor location, keep it in water in a shady area outside. Cut two inches off the bottom to help water absorption. Indoors, place the tree in a well-secured stand with a water well. Add water each day.

Happy Holidays 

from

M & A Legal Management

and be on the look out for our holiday wine tips....ooohhh my favorite!

6655 W. Sahara Ave Ste B200

Las Vegas, Nevada 89146

(888) 449-5841

www.MillersLegal.com

I'm leaving the United States! And I've got just the way to bypass the lines at immigration and customs!

With the Holidays fast approaching, many of us will be traveling, some of us will even travel out of the country and that's often exciting....until the return trip and re-entering the U.S. 


What if we told you there is a way (a completely free way) to bypass the lines at immigration and customs when re-entering the U.S. at select airports—and all you needed was your smartphone?

The secret is no secret at all, but a downloadable app available to both iPhone and Android users via the Apple App Store and Google Play Store that allows users to enter their passport and travel information, submit it electronically, and generate a receipt to show at customs and immigration checkpoints. It's calledMobile Passport and its technology eliminates the need for traditional forms and line waits. The catch is...there is no catch. The app, launched in 2014 by Airside Mobile and Airports Council International-North America (ACI-NA) in partnerships with Customs and Border Protection (CBP), is free to download and free to use. Entirely separate from the paid Global Entry program, Mobile Passport boasts a speed and ease that has Global Entry users eating its dust.

For now, use of the Mobile Passport app is limited to U.S. citizens holding a valid U.S. passport, as well as Canadian citizens with a valid Canadian passport. Five airports are currently a part of the program: Atlanta (ATL), Miami (MIA), Seattle (SEA), Chicago (ORD), and San Francisco (SFO). The goal is to have at least 20 airports accepting the app over the next year.

Once the app is on your phone, there's nothing left to do until your plane lands back on U.S. soil at one of the participating airports. When you turn off "airplane mode," open the app, complete the steps, and you'll have your immigration and customs clearance ready before even stepping off the aircraft. The profile includes the traveler’s name, gender, date of birth, and country of citizenship. According to CBP, the process is simple (a claim we can vouch for): travelers complete the “New Trip” section by selecting their arrival airport and airline, take a selfie, and answer a series of custom declaration questions. Once the traveler submits the form through the app, the traveler will receive an "electronic receipt with an Encrypted Quick Response (QR) code," which expires four hours after issuance. Travelers then bring their passport and mobile device with their digital bar-coded receipt to a CBP officer to finalize their inspection and be welcomed back into the United States. Voilà.

- Cynthia Drescher  

You're Invited!

We are happy to announce that the Founding and Senior Partner of M & A Legal Management will be one of the featured instructors this Fall in the Division of Workforce and Economical Developments' Financial Department at the College of Southern Nevada. The course is entitled......

 "Whats Fair in Debt Collection? Get Your Credit Back!" 

being held from September 8, 2015 through September 29, 2015 and again October 6, 2015 through October 27, 2015 at the Sahara West and Cheyenne campuses.

The course will include the text of the fair Debt Collection Practices Act and will teach everyday individuals:

• How to understand your credit reports. 
• How your credit reports affect you and are used in everyday situations that you may not know. 
• How the major three credit reporting agencies, TransUnion, Experian and Equifax operate. 
• How you as an individual may successfully dispute negative items on your credit reports (EVEN IF THE ACCOUNTS WERE ORIGINALLY YOURS) 
• How you as a renter of an apartment, condominium, home or shared room can use your monthly payments to increase or rebuild your credit, and 
• Much more! 

Click here to go to the College of Southern Nevada catalog, see the details and Register.

After attending the class, for those whom need related services 

M & A will credit the $55.00 tuition you paid to CSN and an additional $45.00 for a total of $100.00 OFF of an M & A Legal flat rate credit or dispute related service. 

This offer expires on January 1, 2016.

For those not in the Las Vegas Area including all other 49 U.S. States and Guam you may receive the same $100.00 discount simply by clicking HERE and sharing to your Facebook page.

WE LOOK FORWARD TO SEEING YOU IN CLASS!

M & A Legal Management

6655 W. Sahara Ave, Ste B200

Las Vegas, Nevada 89146

(888) 449-5841

www.MillersLegal.com

Support@MillersLegal.com

IMPORTANT NOTICE OF FEE INCREASE

Dear Business Customer:

Pursuant to SB 483 of the 2015 Nevada Legislature, effective July 1, 2015, certain fees increased as follows:

• Annual List and initial list fees increased by $25 for all entity types
• State Business License fees increased from $200.00 to 500.00 for Corporations formed under:

1. NRS Chapter 78 - Private Corporations
2. NRS Chapter 78A - Close Corporations
3. NRS Chapter 78B - Benefit Corporations
4. NRS Chapter 80 - Foreign Corporations

Divorce and Business

How to Protect your business from your partner's divorce!

Before you formed your business partnership, did you vet your partners’ marriages along with their bank statements? You may not consider it until divorce proceedings are underway, but your partners’ spouses likely own a part of your company, whether you want them to or not.

In my day job working on complicated (and often highly contentious) legal matters, I rarely see  a case  where the day to day  operations, valuations and ownership  structure of a  business  is not affected  in some way by a break up. If your partner ‘s soon - to –be ex receives a part of the business  in the divorce settlement ,you’ll gain a new , unwelcome partner who now has a voice  in how your business operates  and, by extension , can impact  your own net worth.

We recommends including a contingency for divorce in your company’s set up. “Start with a well drafted partnership , ownership or shareholder agreement that requires  a partner’s spouse to sell his or her awarded interest back to the company (or to its co-owners) in the event of divorce.“ This buy -sell provision should contain a comprehensive list of terms and conditions, including the method by which shares will be valued, the transaction timeline and the source of funds to be used for the purchase, such as cash on hand, an existing line of credit and/or loan.”

To ensure that the “Right to purchase” can be upheld in the family court , it is worthwhile – and often essential – to have all non-partner spouses consent in writing to all aspects of the agreement long before any marital dispute arises. In the event a buy –back is not possible, this agreement can limit an ex’s voting rights and/or management participation. Even with such arrangements in place. Divorces play havoc on operations. If one partner has to step away from the day-to –day operations to tend to his or her divorce, the balance is thrown off. Resources are spread thin, resentment increases very quickly, and the partnership begins to look more like a sole proprietorship. The impact on cash flow can be dramatic and devastating as well.

Plan for the worst. Divorce, illness, disability or the death of a loved one will affect your partner’s ability to contribute to the business. You need to set up a legally binding plan that addresses how to handle these challenges. One that answers some basic questions, such as how long one partner can step away from the company before his or her compensation drops. Who will assume his or her daily duties? If a loan or pay advance is needed to cover skyrocketing legal bills, what are reasonable terms?”

These are tough queries, but it’s better to ask them now than in the middle of a messy divorce. Handled correctly, every partner, including you, should come  away with a greater sense of trust in one another to do the right thing to preserve the company –even when someone’s personal life is going down the drain.

M & A Legal Management

www.MillersLegal.com

(888) 449-5841

Beautiful collection of Cars to be Auctioned and I'm on my way!

Found out through a friend and later some research that some cares of Maria Callas were going up for auction. Turns out that is not exactly accurate, they are not Maria Callas’s own cars that will be acutioned through Artcurial on July 20th in Monte Carlo, but those formerly owned by ‘a friend’ of the illustrious soprano. However; that friend has an eye for automobiles!

Excuse me as I'll be taking off next week ti get an up close and personal look at these beauties. Besides, its Monte Carlo...the Vegas of Europe! With LESS denim and flip flops! UGH!

Variety is the spice of life...

Just 11 cars form the ‘Estate of a Friend of Maria Callas’ sale, but we couldn’t think of 11 more diverse vehicles if we tried. The auction’s curious name is warranted somewhat by the fact that two cars, a brace of silver Mercedes 600s, did once belong to Maria Callas. Both boasting just two owners from new and, naturally, fascinating histories, the cars ­–1966 and 1971 model years respectively – are each estimated to fetch 60,000-100,000 euros.

Elsewhere, the lots range from a 1908 Cadillac Type S (est. 30,000-60,000 euros) to a low-mileage 1989 Aston Martin Lagonda. There are several Rolls-Royces, including a relatively tidy Corniche III (40,000-60,000 euros), and a bright yellow Lamborghini Diablo, the sale’s sole supercar (if we could have just one supercar, it would probably be a Lamborghini, too). The ultra-low mileage in this case will either entice or repel, but it looks to be in okay condition. It’s estimated at 40,000-60,000 euros.


Photos: Artcurial

Am I my brothers Keeper, and everyone else's too?

Filial Support and Family Solidarity

Honor thy father and thy mother that thy days may be long in the land that the Lord thy God giveth thee. 

                                           

                                                - Exodus 20:12.

The concept of filial responsibility has existed for many centuries. Although the origins of this moral tenet will probably never be identified with any degree of precision, the origin of the legal responsibility to provide for one's parents is more readily traceable. 

Statutes which presently exist in a majority of American states are essentially identical to the "responsible relatives" statute found in the seventeenth century Elizabethan Poor Law. Prior to the enactment of this comprehensive statutory scheme to deal with the problems of the poor, there was no legal duty imposed on children to provide for their indigent parents' support.

The responsible relatives statutes embrace more than merely the child-parent relationship. They are concerned also with the duties of Parent to child, husband to wife, and wife to husband.

Additionally, some impose duties beyond this immediate family sphere, extending the obligation of support to grandparents and grandchildren and even brothers and sisters of the indigent. The focus of this article, however, is on the legal responsibility of children to contribute to the support of their parents and the wisdom of the imposition of this duty.

In a nutshell, YES YOU CAN BE HELD RESPONSIBLE & SUED for the debts of not only your spouse, but also your brother, sister, father and mother...maybe even your grandparents or grandchildren...depending on how liberal the state is that you live in! Watch out citizens of California. 

You may be set, have no debt, and all your bills paid....but what about the "Black sheep" entrust that if a lawyer can find the deep pockets...he'll go for them, especially when the possiblility that your relative may end up on public support is involved.

PROTECT YOURSELF WITH A WILL AND TRUST!

$3,000.00

NOW only $499.00

or ask about our monthly payment plan!

Call now.

(702) 706-8855

Support@MillersLegal.com

www.MillersLegal.com

Get your Free 30 Minute consult.

Not for a song, but for a cigar!

Some sellers will lend the buyer the cash!

Let’s make a deal!

HOW TO BUY A BUSINESS WITH SELLER FINANCING

 

Advertising and publishing veteran Janet Regan was looking for a business to buy. The right opportunity presented itself last year when she found Guilded Publishing, a company that distributes a quarterly resource guide for-Northeast Ohio seniors. The only catch: Regan didn't have the $500,000 asking price.

With few physical assets to borrow against, she was unlikely to get a bank loan. So with the help of her business broker, she negotiated a seller-financing deal and bought the business five months later with just 10 percent down and quarterly payments due over 10 years at about 6 percent interest. Of course, most sellers won't finance 90 percent of their asking price. But borrowing 10, 20 or even 30 percent from a seller at a competitive rate still beats using your credit card to cover capital shortfalls. If you're interested in seller financing, here's what you need to know.

WHEN IT MAKES SENSE. Being short on cash isn't the only reason to push for seller financing. These loans also can bridge the gap if you and the owner can't agree on price.

Rico Cervantes, who bought a dance studio near Henderson in 2013, will attest to that. He had the money to pay the six-figure asking price in full but thought the seller wanted 20 percent too much.

"I wanted him to-put his money where his mouth was," Cervantes says. Both parties went into negotiations and eventually got what they wanted. Cervantes has since increased revenue by 28 percent.

WHAT SELLERS EXPECT. Besides cashing out, sellers want assurances that their baby will be in good hands. They want a buyer who is experienced in the industry, with a solid business plan, working capital and roots in the community. Sellers treat these loans as seriously as any bank would. This means requiring a credit check, collateral (business assets and possibly your home) and life insurance. Loan terms often extend up to 10 years, interest rates are comparable with those offered by banks, and it's typical for sellers to stick around for 60 to 90 days post sale to advise the buyers.

HOW TO VET THE DEAL. It's not enough to grill the owner on the intricacies of their business. You have to scour the financials, from bank statements and cash flow to tax returns and P&L reports. You also have to inspect the physical property to ensure all inventory, equipment and other assets are accounted for and in working order. Otherwise, you don't know what you're getting.

Trusting the seller is imperative. Make sure it's someone you actually want to be in business with after the sale is complete maybe even negotiate a transition period during which the seller played consultant.

Another must: having a business attorney in your corner, even if you're working with a broker.

WHAT TO NEGOTIATE. Owners may not openly advertise their willingness to partially finance a sale—but, it's common for them to consider lending at

least 5 to 15 percent of the purchase price.

JT Ybur of Tucson, Ariz., who bought six owner-financed businesses over the past five decades, suggests agreeing to the asking price but getting creative on the terms. Regan, for example, nabbed 90 percent seller financing by promising to apply for an SBA loan two years down the line. If she gets it, she'll pay off the seller in full. Other buyers can bridge valuation disagreements with an earn-out clause that grants the seller extra pay during a set period if profits meet or surpass expectations; you can dream up 100 different ways to do this, it really boils down to what the owner wants to accomplish.

With all of being said, Have you ever gone grocery shopping without some type of shopping list? Maybe it’s written or memorized, or if you are like me, your list is typed out and organized by grocery aisle (this is not recommended for those of you who are “right brained”). While we may have some flexibility when doing grocery shopping, there is little room for error when it comes to buying a business.

Buying a business is obviously an important decision with many moving parts. When considering whether or not to purchase a business there are many things to consider. Our due diligence checklist shown below can start you on the path to buying and operating a successful business.

Checklist for buying a business

• Company Tax Returns – last 4 years
• Profit & Loss Statements – last 4 years
• Current Balance Sheet and Profit & Loss Statement
• Bank Statements – Last 2 years
• General Ledger Detail – Past 2 years
• Copy of current contracts (i.e. leases, supply agreements, jobs, etc.)
• 940’s & 941’s payroll tax – last 4 years
• Employee list, job functions, salaries and benefits
• Copy of insurance policies
• List of equipment that you will be purchasing

It is important that you find out all you can about the company you are buying. Depending on your industry and the nature of the purchase, there may be additional items to add to your checklist. In many cases a business purchaser will use the services of an accountant and an attorney for some due diligence process. By identifying issues in advance you will be better prepared to negotiate the final purchase contract and less likely to have disputes after the transaction has been completed.

Are you considering going into business for your self or purchasing an existing business? The M & A Legal Management services team may be a perfect fit for for you and a profitable business. Let us help you.

M & A Legal Management

6655 W. Sahara Ave, Ste B200

Las Vegas, Nevada 89146

(702) 706-8855

www.MillersLegal.com

My Habits = Your benefits!

Limited TIME OFFER! Must be 21 to Participate in the Discount Offer!

Disclaimer: No Fireball or Flavored Alcohol or Swisher Sweets please!

The Senior Partner of M & A Legal, (ME) is offering:

EITHER

A $100.00 discount off of our $499.00

 

Credit Restoration and Dispute Service

(Click here to see details) 

(12 months of services)

 in exchange for one 750 ml bottle of one of the following libations:

* Scotch * Vodka *Bourbon 

-OR-

A free 30 minute consultation 

(Click here to see details)

in exchange for one of either of the following cigars,

 found at any of your local tobacconists:

* Padron * CAO * Davidoff * H. Upman 

* Romeo Y Julieta * A. Fuente

Size: Min. 5'' x 48 Natural or Maduro-full leaf

 

(CLICK HERE TO SEARCH IN YOUR AREA)

 

* Padron * CAO * Davidoff * H. Upman * Romeo Y Julieta * A. Fuente

6655 W. Sahara Ave. Ste B200

Las Vegas, Nevada 89146

(702) 706-8855 (888) 449-5841

www.MillersLegal.com