Beating COVID-19: Tips for Your Insurance, Finances, and Business - June 6, 2020

June 06, 2020
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News. Insights. Analysis. Inspiration.

 

Today's Key Question:

The article below from the National Law Review points out that Congress could very well eliminate the estate tax exemption to increase revenue, given all the money it has been spending during the pandemic.

Do you think it would be wise for you to take advantage of the exemption while it is still on the books?

 

"Is it Time to "Use it or Lose it?""

From National Law Review:

* In the wake of COVID-19, we may see significant statutory changes to the federal estate, gift, and generation-skipping transfer tax exemptions.  Spousal Lifetime Access Trusts and other planning techniques provide opportunities to effectively use our current lifetime exemptions, even in the face of continued market volatility.

 

"Healthcare will never be the same: 8 experts on the future of medicine around the globe"

From Fast Company:

* We have to learn how to live with COVID. Some hospitals may suffer. But I want to believe that this is going to make us deliver care more efficiently. We’ve been talking about social determinants and chronic health for a long time, but this is our opportunity to step in. COVID-19 preys on the elderly, on the socially disadvantaged. Going forward, we have to manage COVID-19 with more consistent care.

  

"Food trucks may be the perfect solution to feed customers' nostalgia for dining out as the future of the restaurant industry remains uncertain"

From Business Insider:

* Despite all the doom and gloom, however, we've seen something remarkable: examples of food entrepreneurs actually growing their businesses. There are two things these businesses are doing right now that I believe hold the keys to success in the post-COVID-19 restaurant industry.

  

"How a Mentor Can Help You Navigate Reopening"

From American Express:

* As the economy continues to shift and businesses pivot in response, mentors can offer guidance, share resources and lend a sympathetic ear. I spoke with Williams, Londagin and Ben Tenn, who is a mentor with MicroMentor, a nonprofit that connects entrepreneurs with volunteer business mentors, about why—and how—to connect with a mentor in the new business landscape.

 

"COVID-19 shows that experts don't know everything"

From Washington Examiner:

* In 1877, British Prime Minister Lord Salisbury offered this warning: “No lesson seems to be so deeply inculcated by the experience of life as that you never should trust experts. If you believe the doctors, nothing is wholesome: if you believe the theologians, nothing is innocent: if you believe the soldiers, nothing is safe. They all require to have their strong wine diluted by a very large admixture of insipid common sense.” 

 Experts have the luxury of indulging their worst fears and ignoring the effect that their policies have beyond their area of expertise. That’s why decisions are reserved to elected officials, who are expected to rationally balance risks and costs and, most of all, apply common sense and good judgment.

 Of course, the experts aren’t to blame. They have no authority to issue such orders. That responsibility rests with the elected officials who became so besotted on the experts’ strong wine and so drunk with power that they lost any semblance of common sense or any concern for the damage they have caused.

 

 

Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here