Wednesday, January 27, 2010

Multi Million Dollar Business...where to hide the file that says how we manage our business step by step? -

My father is in his 50 s, and has worked within his own self built company his whole life. He s a stress a holic, and combined with his knowledge/experience, and an idea that I came up with, we created a business. My husband fine tuned the computer end, while my father works with the attorney and handles most of the finances, and I created the business, but using their expertise, we have created a multi million dollar business. It could not have been done without the three of us. We all work closely together on everything, and for 5 years have managed to not but heads. We travel a lot between the three of us. If something were to happen to my husband and I, my father would not know the first thing about our end of the work, to which took us 5 years to filter through. If something happened to my father, myself, and my husband, absolutely NO ONE would know how to begin, manage, or carry on what we do. Although it is all simple for the most part, we have not shared the details without anyone else. My mother (my dads wife) does not have the slightest clue/desire to see how things are ran. So its not that we dont involve her, my father just provides for their household.So I have written out how to do our business step by step. It kind of worries me, almost in a way, just having the information written down, and not just in our heads. So my question is, I kind of want to give my father a copy of this disc, that way in case something happened to us, he could have a computer literate person help him figure everything out (yes he s old school, he s never even used a computer, its not a stubborn thing he just doesnt have a need for them). I dont want our attorney to hold the disc because I dont want him to have access to it either.Any suggestions?? Should I give it to him on a disc, and have him hide it somewhere in his garage?? Hide it in my house and tell him where its at?? Also, I dont want it to look like I am some spoiled thing, I am not. I have worked for 6 years, with minimal pay, have gained over 150lbs, im having weight loss surgery because I spent so much computer time figuring out this business and getting it started, and my father has had a company, but it took so much money to run the business we never had anything extravagant growing up, just normal family style living. So finally during the last portion of his life things are looking up. We re actually just barely starting to see the cash come in, but I know from here its only going to skyrocket. Advice?? Thanks, (hope you re still awake after reading all of this)

You should consider safety deposit box but even this may have draw backs as to whose nameyou put it in if the holder of the box is the deceased then It may take a good while to retrievethe disc. With the information it contains I don t think it would be a good idea to store it in thegarage or around the house and it may accidentally get destroyed. Put it in someones namethat is a trusted family member.You were wise to write it down and hope all goes well - maybe someone will add suggestionsin addition.

how to hide anything.

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