Estate Tax Planning & Family Limited Partnerships

The general partner(s) manage the assets contributed to the family limited partnership. Limited partners generally have no rights with respect to the assets held by the FLP. The lack of Marketability and the fractional ownership of the limited partnership interests held by the limited partners are two of the well-established reduction principles that diminish the value of the taxable estate. The discounts allowed by the restricted rights provides for the reduction in the value of the assets held by each limited partner, but also increases the amount of annual tax-free gifting that can be attained. The current high marginal estate tax rates allow for wise and prudent planning which is necessary to preserve the family’s wealth.

Centralized Management of Family Assets
When using a corporation as the general partner, the general partner controls all of the assets in the partnership. This corporation can also employ family members and others. It will call meeting, conduct training sessions and facilitate wealth management. With a corporate general partner, continuity must be ensured even in the event of the husband and wife.

Minimize Probate
By using an FLP, the time and expense of probating an estate can be greatly reduced. When a Living Trust is also used, then there is no probate. Living Wills are not public record and therefore no one but those involved in the family know of its contents.

Cure Title Defects
The procedure for transferring assets to an FLP can help with the discovery of title defects. This can be a significant issue for real estate assets if not discovered and corrected.

One Bad Decision Can Cost a Hospital Millions

Things can go wrong without the right team in place

I recently read an article that was attempting to explain the cost overrun experienced by a hospital during the launch of their new EMR. The article was clear on what caused the overrun but failed to communicate why the decision was made that created the cause.

In many hospitals, emotions can run high fueled by attitudes of resistance to change. The pressures and stress associated with go-live can be a challenge to manage; however, allowing those forces to affect decision-making can have lasting adverse financial effects. When all planning, budget, constraints, and common sense that should be applied are set aside, you can almost always expect the worse. It may feel like appeasement is the right thing to do to relieve the stress, but it may not be the best thing. Sticking to the plan, and staying within the budget should always be the guiding factor that drives decisions even when the pressure is great.

It’s unfortunate, but some decisions are based on problems that may not exist at all but are only perceived based on excessive negativity. Having an experienced team in place that can help make decisions based on fact is vital.

Negotiating Skills Do Pay Off!

When doing logistics, treat it like it’s your money

Getting one of the best hotels in the city to give you the lowest rate with great concessions is excellent. In this agreement, the hotel managed the flight itineraries and provided transportation to and from the airport. They supplied one large conference room for orientation and then surprised us in the contract with a complimentary welcome reception for 120 guests with heavy hors-d’oeuvres. Provided two fifty-six seat luxury buses and several shuttles to transport consultants to the training facility and back. They also agreed to use their shuttles to take those consultants that worked within two miles of hotel to work and back each day. Everything listed above was in the price of the rooms $105.09 with tax. Note, this took a huge burden off the consulting firm, and the savings were passed on to the hospital.

When a hospital hires a consulting firm, that consulting company should put forth all effort to save money, not spend money. Creating a positive cost variance (CV) indicates the consulting firm is in fact on your team. Negotiating for the best price is good, but getting the most value for the lowest price is better.

Consultants Saved the Day!

Good consultants can mean the difference between success and failure

I sat in an auditorium with over three hundred consultants when the speaker invited to the podium the senior implementation project manager. “Dr. So and So has overseen the EMR implementation of nineteen plus hospitals please give him a round of applause.” Wow, nineteen projects that’s impressive. However, it turned out to be a challenging project in many areas but mainly with significant workflow issues.

Although it is confusing why this happens, it is clear the leadership was out of touch. Seeking someone with excellent qualifications can be attractive for any hospital, but having someone with the insight that can eliminate problems before they exist is priceless. I am not sure why this project manager didn’t know this.

Fortunate for everyone the consultants came with the experience and knowledge necessary to handle these types of issues. Jumping into action and based on past experiences they began the process of educating the staff and leadership on what works. This go-live would have never survived without the tremendous efforts of the consultant.

Pop Music Producer Roadblocks to Success

Wannabe producers always have at least one fatal flaw. Now the flaw varies from person to person, but they basically fall under 3 categories. So to lets list out the rules to keep you in the game.

People Skills

Lets start with the granddaddy. This is a people biz hombre. You deal with people all the time, whether it be label execs, engineers, or the talent you are producing.

Because of this critical point your people skills will make or break your career. This may seem overrated if you come from the school of thought that says, “if I get a single it will be enough.” Honestly, maybe. But your success is so much more likely if you treat people in a way that makes them feel good.

That is what brings Rick Ruben success in this industry. That man is unquestionably the biggest thing on the scene. He has hits in all genres from Rap, to Country and people want to work with the cat because he makes them feel good, and alive.

Do you do this?

If not maybe its time to learn. Go get a copy of How To Win Friends And Influence People by Dale Carnegie. It could be a career changing book

Overshadowing

The second mistake that many produces make is to cast a looming shadow over an entire project. This is usually because the producer is a control freak. This type of producer has their fingerprints all over an album, and the artist feels suffocated by their presence.

Music is supposed to be an outflow of a vision. A song comes to life out of an artist, if they feel stifled by an overbearing oppressive regime you are not going to get the best production out of them. That is the truth.

Now, that does not mean that a good producer cannot point out flaws and errors, it just means that it should be done in a way that makes the talent want to change, not hole up and die.

Work on allowing the artist to breathe. Give them space to be an artist, but yet keep the project moving forward. Its tough, but hey that’s your job.

Limited Chops

The last area that hang up wannabe producers is a limited pallet of chops. This shows up in the inability to get the sounds, beats, or vocal takes because of lack of knowledge. A know-it-all attitude is a sure way to shoot yourself in the foot.

When to Use Double Sided PVC Vinyl Banners

Double Sided Vinyl Banners have long been an effective way to advertise! They can be used for any kind of event imaginable and can also be permanent fixtures in commercial establishments.

Why Choose Double Sided Vinyl Banners?

Double Sided Vinyl Banners will double your chances of attracting the eyes of your potential customers. You have the opportunity to captivate customers from all directions. We all know the simple fact is true that the more people who see your banner, the better your odds of gaining customers.

Hanging in a central location in your establishment, a two-sided banner is highly effective. For example, a banner placed above a central bar in a lounge could let the entire place know about the drink special or upcoming events.

Such large format print could be placed in front of your business so that it is easily seen by traffic going both directions. They also work extremely well for organizations that represent themselves in parades. A bright, descriptive printed display will really get noticed.

They are twice as strong as Single-Sided Vinyl Banners. To construct a banner that has two sides, we actually stitch two individual banners together. They are quality banners that are designed to hold up beautifully during indoor or outdoor use. They are easy to keep clean, too. Simply wipe them with a damp cloth and they’ll shine like they’re brand new.

Are Double Sided Vinyl Banners Better Than Single Sided Ones?

Single Sided Vinyl Banners can be quite useful, but your options for use are more limited. You may, at present, expect to use your banner in one location, mounted against a wall and that’s all well and good. But suppose your needs changed or you come up with a great way to use your banner in a prime spot?

Suddenly, you realize you should have invested in a Double Sided Vinyl Banners in order to maximize your advertising potential. Keep in mind that a Double-Sided print can be hung on a wall so that only one side is showing.

Another factor to consider is that you can opt to have to different messages-one on each side. For instance, one side might feature the name and logo of your establishment while the other side lists the name of the brands you feature.

If your place of business has an annual event, one side of your banner could be designed for use specifically during that event. You might even consider using one side of your banner to welcome your customers and the opposite side to thank them for coming in. Having a Double-Sided Vinyl Banner gives you more room for creativity!

Designing Your Double Sided Vinyl Banner

When you’re deciding how you want your banner to look, think about the audience you are trying to attract and cater your design to their tastes and preferences. Also, it is fundamental to make sure that all lettering on your banner is completely legible. Fancy script that is difficult to decipher will not be effective on a banner. Make sure the lettering is large enough to be seen from a reasonable distance.

Establish the banner as your own by including your eye-catching logo. If your brand is recognizable, you will want to stick with a design and layout that has proven successful. If you’re trying to create an identity, choose your colors and your words carefully because your banner is going to represent your business. Make yourself distinctive

Once you receive your Double Sided Vinyl Banner, you’ll be overjoyed with the advertising power it packs. A well-designed two-sided print can create an identity for your business and make you memorable to customers. Printed with your logo and the name of your business, your large format display can become a way for your customers to quickly locate your establishment.

It’s also a great way to advertise special promotions or sales. You can even use them seasonally. For example, a warm Christmas wish from your business to your customers would be an effective use for a Double-Sided Vinyl Banner.

Double Sided Vinyl Banners are Effective

Whether you place it outside your store to draw customers in or inside your store to let customers know about the best deals, you’ll soon find that your Double-Sided Vinyl Banners has more than paid off the initial investment.

Barry Brown has been in the Sign, Banner, Decal and Display Business for over 20 years. It isn’t what he thought he’d do with his life, but he says he knows too much now to do anything else! He has been marketing these products online since 1998, and the company he was general manager of in 1998 was the first sign company to be listed on Yahoo!

5 Tips for Typography Best Practices

This was my first year at Typographics 2018. Typographics 2018 is a conference for typography enthusiasts around the world, that’s held at Cooper Union. There were panelists from San Francisco, Berlin, Buenos Aires, and Japan; it really felt like a truly international experience.

I had the chance to sit in on both the conference and TypeLab parts of Typographics. Here are a few highlights from the panels/breakout sessions that I really enjoyed:

1. Emojis = Pictures + Character (Jennifer Daniel, Google Emoji)
Emojis are images that may translate into different meanings across different devices. Jennifer gave an example about how the “dumpling” emoji looks different across different chat platforms -every culture has a dumpling!
I found an interesting tension in this statement -emojis should have a consistent user experience (across platforms), yet still be personalized to their users.

2. Ubiquitous type is can cause user confusion (Mr. Keedy)
Mr. Keedy created Keedy Sans, a popular font in the 90’s. The font was considered “uncool” 10 years later and used everywhere. Keedy sans is used on teenage girl makeup packaging, as well as winebars. This could create a bad user experience for people because of lack of branding. Last year, Mr. Keedy refreshed his font -to create greater customization and allow Keedy fans to layer the font for interesting visual effects.

3. Braille is a form of typography (Ellen Lupton, Cooper Hewitt)
Ellen talked about how blind individuals read Braille in a unique way -holding it across their body. She also demonstrated a blind person’s experience watching music videos by showing the accessibility voiceover.

4. Brand holds content together with design (Gale Bichler, NYTimes)
Gale foused on how the New York Times(NYT) has branded itself as a publication that experiments with many types of fonts. NYT can play around with different types and massive fonts as illustration. If someone picks up a page from the floor, they can usually tell that it’s from the New York Times because of branding.

5. Picking fonts is like eating ice cream. (Veronika Burian and Jose Scaglione, Type Together)
When combining fonts, look at mechanic and organic feels. Veronika and Jose talked about how people like humanist fonts, with a hint of a calligrapher’s hand. Ideally, you should find a balance typefaces share a common language.

The overarching theme is that typography is wide-ranging and crosses various mediums. Visual languages include symbols, braille, and audio caption. The challenge now lies in how to design the best experiences for these new forms of language.