No matter what line of business you are in, the reality of being a successful business owner is that you open yourself up to a number of different risks—and the more successful you get, the more risks you face. Asset-protection planning is intended to reduce or eliminate the risks of being in bus...
Even if the process is amicable, divorce can be one of life's most stressful events. With so many major changes taking place, it's easy to forget to update your estate plan—or simply put it off until it's too late. After all, dealing with yet another lawyer is probably the last thing you want to ...
Growing your small business can be tricky. In fact, rapid growth can actually harm your company if you don't plan properly. When you are first starting out, for instance, you may not have the revenue to hire the staff needed to handle the increased business that rapid growth brings, and trying to...
In the last decade, the rise of the gig economy has fueled an unprecedented increase in the number of independent contractors (ICs) in the U.S. workforce. And that growth has only accelerated in the wake of the pandemic, with more companies relying on remote work arrangements, and many workers la...
If you are running a business, it's easy to give estate planning less priority than your other business matters. After all, if you're facing challenges meeting next month's payroll or your goals for growth over the coming quarter, concerns over your potential incapacity or death can seem far less...
Business insurance is your first line of defense in protecting your company from a wide variety of different potential threats. Without the right insurance—or with too little of the insurance you do need—you could be at great risk from the costs of a lawsuit, judgment, or in the event of an unfor...
If your company has (or plans to have) employees, a well-written employee handbook is an essential communication resource between you and your team. An effective handbook can set expectations for new hires, outline company policies, simplify onboarding, as well as enhance training and enforcement...
Life insurance is a key component of your family's estate plan, offering those who depend on you for their financial security a safety net in the event of your death. Whether those dependents include your spouse, children, aging parents, business associates, or all of the above, investing in life...
If you've always dreamed of running your own business but find the thought of building an entire company from scratch too daunting, you might consider investing in a franchise. When you purchase a franchise, you get an already proven business model and brand, which can make the startup phase sig...
Whenever you have a partner or multiple owners in a business, one of the most important—but often overlooked—aspects of the relationship is planning for how it will end. It's crucial that you come up with a clear exit strategy, and do so at the start of your relationship when things are going wel...
As we head into the third year of the pandemic, we are coming to terms with just how fragile our lives and health really are. If you haven't gotten sick yourself, it's almost certain you know someone who has, and many of us even know of one or more individuals who have died in the past two years....
As a small business owner, you may not consider cybersecurity as one of your top priorities, especially if you have a limited online presence. However, that kind of thinking can leave your company seriously vulnerable to hackers and a rapidly increasing number of online threats. And the threat...
Do a Google search for “digital wills” or “online estate planning,” and you'll find dozens of different websites offering low-cost, do-it-yourself (DIY) and sometimes even free estate planning documents, such as wills, trusts, powers of attorney, and healthcare directives. From LegalZoom® and Roc...
When starting a business, you have to make a ton of different decisions. From deciding what to name your company to hire employees, getting your business off the ground comes with a nearly endless number of decisions. Of all these decisions, perhaps none is more important or has a more signifi...
Paying your children—whether they're tweens, teens, or young adults—to work for your company is one of the greatest advantages of running a family business. By hiring your kids, you can help them develop a strong work ethic, give them experience managing money, and jumpstart their ability to save...
Do a Google search for “digital wills” or “online estate planning,” and you'll find dozens of different websites offering low-cost, do-it-yourself (DIY) and sometimes even free estate planning documents, such as wills, trusts, powers of attorney, and healthcare directives. From LegalZoom® and Roc...
When starting a business, you have to make a ton of decisions. Deciding what to name your company and hiring employees, what kind of products or services you should sell, and how to fund your operation, getting your business off the ground comes with a nearly endless number of decisions. Of all ...
When it comes to your company's identity, nothing is more vital to your company than your name and logo. By developing a catchy name and snazzy logo for your business, you can quickly get your company recognized, remembered, and respected.Once you have come up with a winning name and logo, you wi...
Although you can invest in many different types of insurance to protect your business from lawsuits and other liabilities, one of the greatest liabilities you simply can't avoid, especially if you are the sole owner of your business, is your incapacity or death. To make certain that your busines...
Far too many aspiring entrepreneurs jumpstart their businesses without taking the time to properly plan. Just as a builder uses a blueprint to ensure a new construction project will be structurally sound, a carefully researched and well-thought-out business plan allows you to determine whether or...
No matter how well you think you know your loved ones, it's impossible to predict exactly how they'll behave when you die or if you become incapacitated. No one wants to believe that their family members would ever end up fighting one another in court over inheritance issues or a loved one's life...
The constant whirlwind of excitement and activity surrounding the launch of your startup can leave you feeling overwhelmed. You can get so focused on the day-to-day tasks and responsibilities involved with getting your operation up and running that you neglect some of your company's most vital le...
If you are like many homeowners, your home is likely your family's most valuable and treasured asset. In light of this, you want to plan wisely to ensure your home will pass to your heirs in the most efficient and safe manner possible when you die or in the event you become incapacitated by illne...
As you likely already know, but may not have given much thought about, the most important inheritance you provide is so much more than the money you'll leave behind, but also includes your values, insights, stories, and experience. And, while those things are being passed on happenstance on the d...
Business growth is a dream that sparkles in the eyes of many small business owners. But bigger is only better when your business is set up to support the life you want. Bigger is not necessarily better. Best is a business that supports you to have a life you love, with an income to match, providi...