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Family businesses are a triumph. An establishment or company that has survived throughout the years is rare and quite an accomplishment. When children carry on what their parents, grandparents, great-grandparents, or other family members began, it’s an honor.

Family businesses are trademarked by the family’s characteristics and intelligence. Therefore, business succession planning needs to be a priority for any family business.

Unfortunately, those who begin a family business can’t keep running it forever. After awhile, everyone must retire. For those who believe that selling their hard-earned company is unheard of and insist on keeping it in the family (or at least keeping it entrusted to a close friend), business succession planning is a must.

Will the future owners of your business run it the way you intend? That’s where business succession planning comes in. We can handle delicate issues that come with family businesses, like the difference between ownership and management; who gets shares; who will be most active in the business, and tax issues.

It’s a good idea to begin your business succession planning at least five years before you plan on retiring, and even sooner if you’re in poor health. Be sure to involve your main successor(s) and train them on how to do everything properly. Encourage them to ask as many questions as they can.

If you’ve been procrastinating on your business succession planning, it’s never too late to begin. To learn more about business succession planning, contact us today! We’re the Braley & Wellington Insurance Agency, based in Worcester, Massachusetts.

Blame it on what you will, home insurance has been getting pricier. Here are some tips on saving money on your homeowner's insurance policy:

• Figure out the limits you’re comfortable with on your homeowners policy and the amount you need to insure, then get multiple quotes. An independent insurance agency like Braley & Wellington (bwginsurance.com) can help you find lots of options.

• Many insurance companies give discounts when you purchase more than one kind of insurance through them. Consider purchasing your other insurances through the same company.

• Having small home-protection devices and precautions will often get you discounts. Things like smoke alarms, burglar alarms and deadbolts, sprinkler systems, and even fire-retardant plants can mean bigger discounts.

• Get a quote for insurance that would pay to replace your possessions rather than reimburse you based on their depreciated value.

• Ask your agent what documentation you would need to substantiate a claim in case of theft or fire.

• Ask your agent about having enough liability coverage to protect you against a lawsuit if someone gets hurt on your property.

Don’t forget to review your policy at least once a year to make sure all your property and belongings are covered. Many homeowners spend loads of money each year to renovate or add on to their houses, but then don't update their homeowners insurance coverage. Walk through your house with a video camera or regular camera and take video/photos of your possessions – anything that you’ll want to be reimbursed for. Keeping your home inventory up-to-date will prove very helpful.

Braley & Wellington is an independent insurance agent in the Worcester, Massachusetts area. To find out more about Worcester, Auburn, Shrewsbury, and Boylston home insurance, contact them today.

It never matters how safe a driver you are – you could still get into an auto accident. Today, even. My limo-driving father once said I was such a safe driver that I could get a job carpooling babies, but he insisted on me getting auto insurance because of the other drivers that I share the road with.

We all know that there are people who get behind the wheel who have no business doing so. Everyone has seen these drivers:

• The Nascar racer wannabe who tries to go faster than everyone on the road

• The girl who is putting on makeup and nail polish while talking on her phone

• The ancient old couple who are going the speed of a dilapidated lawnmower

• The trucker who thought he could make it through the night but is now in a peaceful sleep – at the wheel

• The “king of the road” who doesn’t think he needs to give anyone a turning signal and swerves quickly from lane to lane

• Drunk drivers, unfortunately still going strong

• And finally, the outright psychos – like the one who injured my father last year by driving full-speed towards traffic on the interstate

This is why it’s imperative to find an auto insurance agent that can cover you completely. Don’t think that you’re going to be perfectly fine without auto insurance simply because you’re a careful driver. You could end up with a totaled car and maybe a broken leg, all of which you’ll have to pay for yourself.

Even though looking for a good agent and going through the insurance-buying process can be a pain, it’s absolutely necessary. And it is getting easier and less time-consuming, thanks to insurance agencies with virtual offices (like BWGInsurance.com) where you can get an online quote quickly.

Don’t take a chance just because you’re a good driver. Remember, you have to share the road with other drivers who are sometimes irresponsible and sometimes even crazy. Protect your car and yourself.

Braley & Wellington is an independent insurance agent in the Worcester, Massachusetts area. To find out more about Worcester, Auburn, Shrewsbury, and Boylston auto insurance, contact them today.