Fandeck of Features

Local paint dealer plays key role in town’s revitalization.

Lynden, Washington wins a spruce up—paint included.
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By Jerry Rabushka, Editor

Concrete coating projects so easy even your customers can do them!

BBQ, stain the concrete, then BBQ again.
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By Jerry Rabushka, Editor

A look at independent only brands.

How “independent only” brands make your difference.
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By Jerry Rabushka, Editor

Add strength and drama with black.

Black can have unintended yet amazing results.
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By Jerry Rabushka, Editor

Palette of Departments

No Way Without a Will

No way without a will.
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By Hans Mugler

Discount Portal

A portal from PPG.
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By Paint Dealer Staff

Make the Best of the Pesto

New! Customer service column.
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By Shep Hyken, Contributing Writer

Independent Rivalries

Yankess or Red Sox—does it matter?
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By Mark Lipton, Contributing Writer


By Hans Mugler,

2006_P&L

 

HANS MUGLER Publisher

HANS MUGLER
Publisher

No Way Without a Will

Almost 2½ years ago, my father Chris Mugler, the founder of this company and magazine, passed away. In his final few weeks, several staffers here asked about the succession plans we had in place for when Dad passed. Dad, his wife (my Mom Heidi O.), and I discussed succession plans several times, and Dad kept saying he had a will. Once Dad did pass away, the ownership of this company transferred to his wife. She was also entrusted to handle his bills, debts, their house and property. The will Dad said he had didn’t exist. We were lucky then that the ownership of the company could be easily passed on to Mom.

Early this month, Mom fell and hit her head at her home on a mountain top in Durango, CO. At nearly 80, she lives alone (her choice entirely!) with her two Bernese mountain dogs and her tiny, beloved Yorkie. After being airlifted to Denver where she had emergency surgery to remove clotted blood on the brain, she is doing well and expected to have a full recovery, according to her many doctors. The questions of succession have come up again, and this time I don’t have as good of answers as I would like. What plans do you have in place at your company if tragedy strikes?

Mom has a will…she and her attorney have been working on one for more than three years now. The problem is that her will has not been signed. As several attorneys have told me recently, this is a very bad situation! In Colorado, as it is in Missouri (where we are), without a will in place, the property and financial holdings of the deceased revert to probate where a judge will be making decisions. Do I think either of my siblings would make waves as to who owns or runs the company or what happens to Mom’s financial holdings? No, I don’t, but that possibility always exists. Even in very tightly knit families where all possible details have been talked out and planned out multiple times, without a signed will, your company could be left in some form of limbo until a judge rules on it…and hopefully he/she would make the correct call. But why leave it to chance?

As good as a will is, a Power of Attorney (POA) for “all financial decisions” should also be implemented, signed and executed. I’m no lawyer by any stretch, but both Mom’s lawyer and our own here agree that a signed and executed will and a fully encompassing POA together are best, if they are needed, to fight anyone who feels they may have a claim against your company or the finances of the deceased.

You never know when tragedy is going to strike. You have worked hard to build your business, often so that you have something—a legacy—to leave behind for your loved ones. Why leave all to chance or a third party to make the decisions? DON’T! Be smart while you are living and handle your after-life details while you are still in charge and making decisions. Talk to a lawyer and discuss the possibilities with your family members. Let your staff know that you have things under control. Get the documents you need to have signed, signed.

Mom, I know you will be back in Durango soon, shooting at the bears who wander onto your property, and living the life of the wild west woman you fancy yourself to be. We are all pulling for you and your speedy recovery!

Love you, Ma!  tpd endcap


342 Marshall Road
St. Louis, MO 63088
Toll free: 800.984.0801
Main: 314.984.0800
Fax: 314.984.0866
www.paintdealer.com

Publisher/President
Hans Mugler
hmugler@paintdealer.com
800.984.0801 x12

Associate Publisher/Editor
Jerry Rabushka
jrabushka@paintdealer.com
800.984.0801 x16

Art Director
Kathryn Tongay-Carr
kathy@paintdealer.com
800.984.0801 x 14

Circulation Manager
Shirley Schomaker
800.984.0801 x 11

Sales Department

Sue Oden
sue@paintdealer.com
Ph: (417) 207-0486
Fax: (314) 984-0866

Melissa Biegener
melissa@paintdealer.com
Ph: (314) 239-8248
Fax: (314) 984-0866

Hans Mugler
hmugler@paintdealer.com
Ph: (314) 984-0800
Cell: (314) 616-9080
Fax: (314) 984-0866