Small business owners are no strangers to risk management. Owning and operating a small business entails a certain level of unpredictability. Despite your best efforts to stay on top of supply chains, marketing, sales, competitors, employees, and cash flow, unexpected issues can knock you for a loop. You have survived plenty of bumps in the […]
How to Protect Your Business from Lawsuits Read more »
As an estate planning attorney, I am following the news about the Build Back Better Act (the Act) and how it could affect my clients. This news story is a moving target, as Congress is likely to make changes to the legislation, and there is no guarantee that it will even pass. The Act’s tax
Estate Planning and the Build Back Better Act Read more »
All companies need office space to house their employees and run their businesses. At the onset, companies invest a lot of time and money in finding the right space and finalizing the lease agreement. Most office leases are long-term commitments, often five years or more, with ongoing obligations and risks. Companies should negotiate and enter
3 Tips for Negotiating an Office Lease Read more »
If you have ever considered starting an e-commerce business, now is a great time to move from ideation to action. Online retail sales exploded to an all-time high amid COVID-19 lockdowns, travel bans, and brick-and-mortar closures, and this was not just a temporary bump. E-commerce was already experiencing strong year-over-year growth prior to 2020. The
How to Start an E-commerce Business Read more »
Trusts are usually associated with estate planning, but trusts can also apply to business operations. As a small business owner, you can hold the business in a trust instead of using a business entity such as a limited liability company (LLC) or corporation. Business trusts offer several potential benefits—and drawbacks—compared to a traditional business structure.
Business Trusts 101: What Entrepreneurs Should Know about Using a Business Trust Read more »
No one wants unnecessary court involvement in their life. But without careful and proactive estate planning, chances are that some aspect of your estate will end up being decided there. Here are two of the most common ways court proceedings can make their way into the management and distribution of your assets, along with the
The Top 2 Ways the Court Gets Involved in Your Estate, and How to Avoid Them Read more »
Why You Should Include Estate Planning in the Preparation You may have been running around for weeks, getting your new college student off to school. It’s exhilarating, and your heart likely is bursting at the seams. You’re probably prouder than you can say, but you’re a little afraid, too. How can you make sure your
Kids Going Away To College? Read more »
There’s an entire category of commonly-overlooked legacy to consider – digital assets. Don’t worry if you didn’t consider these assets when made your will or trust – it’s surprisingly common and, luckily, easy to correct. What are digital assets? They include: your photos (yes, all those selfies are a digital asset), files stored in the
Your Cyber Legacy: 3 Tips for Your Digital Assets Read more »
Estate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your death. One commonly known purpose of estate planning is to minimize taxes and costs, including taxes imposed on gifts, estates, generation skipping transfer and probate court costs. However, your plan must
Which Life Events Require An Immediate Estate Plan Update? Read more »
The key to a successful business is having the right people, financial knowledge, effective processes, and a well-researched business plan. According to the Bureau of Labor Statistics, approximately 20 percent of businesses fail in their first year, and 50 percent fail by their fifth year. Forming and running a business is hard regardless of whether
Common Business Formation Mistakes Read more »