When you think about loved ones who've passed away, you probably don't think very much—or even at all—about the “things” they've left you. And when they do leave something behind, what you likely cherish most about the object are the memories and feelings the item evokes, not the thing itself. ...
Of all the different choices you have to make when starting a new business, arguably none is more critical or has a more significant impact on your success or failure than your choice of business entity structure. The entity you choose will affect everything from the amount of taxes you pay and t...
Whether it's to qualify for Medicaid, avoid probate, or reduce your tax burden, transferring ownership of your home to your adult child during your lifetime may seem like a smart move. But in nearly all cases, it's actually a huge mistake, which can lead to dire consequences for everyone involved...
Of all the different choices you must make when starting a new business, arguably none is more critical or has a more significant impact on your success or failure than your choice of business entity structure. The entity you choose will affect everything from the amount of taxes you pay and the ...
If you are a mom or dad with minor children at home, your number-one estate planning priority should be selecting and legally documenting both long and short-term guardians for your kids. Guardians are the people legally named to care for your children in the event something happens to you. And i...
Along with websites, e-newsletters, and social media, in today's digital-everything world, many companies now have their own mobile apps. In fact, some companies' primary digital platform is their mobile app. And like smartphones, iPads, e-tablets, and other mobile devices become more popular, ha...
In today's highly litigious society you are at near-constant risk for costly lawsuits—even if you've done nothing wrong. This is especially true if you have substantial wealth, but even those with relatively few assets can find themselves in court facing a potentially devastating lawsuit. If you ...
Although intellectual property (IP) has always been an essential part of most companies' overall value, with the rapid rise of internet-based technology and e-commerce over the last few decades, IP is increasingly becoming the primary source of value for businesses both large and small.In fact, s...
Creating a will or a revocable living trust offers some protection for your kid's inheritance, but in most cases, you'll be guided to distribute assets through your will or trust to your children at specific ages and stages, such as one-third at age 25, half the balance at 30, and the rest at 35....
In light of the pandemic, the rules and programs governing income taxes for businesses have changed numerous times over the last two years, which has caused confusion and headaches for more than a few business owners. And while many of the pandemic-inspired programs and tax breaks have already en...
Although many strategies to save on your income taxes must be locked in before the end of the year, there are still numerous ways you can reduce your tax bill right up until the filing deadline, which has been pushed back to Monday, April 18th due to a holiday on April 15th.Some of these strategi...
When you are just starting your business, it's easy to lose sight of just how many potential risks your company faces. Yet a single accident or lawsuit can wipe out your company before it even has the chance to get off the ground. While setting up a business entity like a limited liability compan...
Unless you've created an estate plan that works to keep your family out of court when you die (or become incapacitated) many of your assets must go through probate before those assets can be distributed to your heirs. Like most court proceedings, probate can be time-consuming, costly, and open to...
You've most likely dedicated significant time and energy to visioning your business, executing your vision, and even writing up a business plan for the growth of your business. Yet far fewer business owners put the same amount of effort into planning for their company's continued success followin...
Although cash is the lifeblood that sustains every business, far too many business owners fail to properly manage their cash flow. And this is despite the fact that statistics consistently show that running out of money is one of the main reasons new businesses go under. Trying to run a busine...
Unless you've created a proper estate plan, when you die many of your assets must first pass through the court process known as probate before those assets can be distributed to your heirs. Like most court proceedings, probate can be time-consuming, costly, and open to the public, and because of ...
Many entrepreneurs structure their business as a limited liability company (LLC) because like corporations, LLCs offer personal liability protection for their owners. But unlike corporations, LLCs are not legally required to adhere to many of the same corporate formalities required of corporation...
If you've ever had clients who were more trouble than they were worth, you know how stressful such toxic relationships can be. Yet, it can be difficult to drop a client, especially if your business is just getting off the ground or cash is tight. That said, when dealing with certain problem clien...
Over the years, we've seen historic levels of damage caused by natural disasters in the U.S. From blizzards in Texas to hurricanes in Mississippi and tornados in Alabama, few regions of the country are immune to such catastrophes. And based on the latest data from the United Nations World Meteoro...
It seems that everywhere you look, a new start-up is trying to make it big with a game-changing idea. But it's only the ones that can turn that idea into reality that reach business success. Too many start-ups fail to make the transition from idea to execution or encounter major setbacks along th...
One of the main reasons for setting up your business as a corporation or limited liability company (LLC) is to shield your personal assets from debts and other liabilities incurred by your business. Corporations and LLCs exist as separate legal entities from their owners, which allows the busines...
Whether you've met with an estate planning lawyer before or it's your first time, it's important to understand how working with us, a Personal Family Lawyer® Firm is different from meeting with a traditional lawyer. Here we will explain what's involved with our process, in hopes that it will i...
Whether it's your very first or your fifth company, if you're looking to start a new business venture, you have two options: 1) build your own from scratch or 2) buy an existing one. And while many entrepreneurs dream of building their own company from the ground up, the reality is, launching a b...