Every business owner knows that building a business takes dedication, commitment, hard work, sacrifice, sweat equity, and yes, a little luck. There is nothing quite like the sense of pride and accomplishment that comes from owning a successful business, whether it is a partnership or a family-owned one. To maintain the fruits of your labor, … continue reading the entire article
Estate planning conversations shouldn’t focus solely on what will happen to your assets after death, but also on what may happen if you experience diminishing mental capacity during your lifetime as a result of an accident, disease, medication, or dementia. It can happen at any age. A General Durable Power of Attorney (POA) focuses primarily … continue reading the entire article
Did you know that access to an electronic record is considered a digital asset? You should establish a way to keep track of important logins, passwords, access keys, and personal identification numbers (PINs) to ensure your family and power of attorney can access important online and electronic records when the need arises. Make a list … continue reading the entire article
The most important decision you make as a business owner, whether starting a new business, purchasing a business, or reviewing a current business entity, is choosing the legal structure that will protect your personal assets. There are three to consider. Legal Business Structures Doing Business As (DBA) This option is simply filing a fictitious name … continue reading the entire article
These may be the four most important words for an entrepreneur or small-business owner who often operates on a “handshake” principle: Get it in writing. The challenge and excitement of starting a new business can lead to entering business agreements haphazardly or with the complete trust of the other party, especially if it is with … continue reading the entire article
A New Year means it’s time to act on your resolutions. Getting organized is one of the top 10 New Year’s resolutions, according to a recent Reader’s Digest survey. Organizing your home and office are lofty goals and can lessen the chaos of your everyday life. However, consider how important it is to have your … continue reading the entire article
Wartime veterans or their surviving spouse with limited income may be eligible to receive the VA Aid and Attendance benefit to help pay for the assistance they may need in everyday activities or with long-term elder care, home care aides, skilled nursing, or adult daycare. The VA announced new rules going into effect on October … continue reading the entire article
It makes sense for you to name a transfer-on-death (TOD) beneficiary for your vehicles. That way, your vehicle can be transferred to the beneficiary quickly and easily, without probate court approval. Beware: the beneficiary inherits any outstanding debts on the vehicle, as well as the vehicle. If you have a Trust, be sure to make … continue reading the entire article
Purchasing a business is exciting, but the process can be tricky and confusing. There are a variety of variables you should consider before signing on the dotted line. Here are seven common pitfalls: Not forming a business entity. Don’t begin signing contracts, leases, or loan agreements in your own name without planning and implementing your … continue reading the entire article
Wills and revocable trusts are beneficial planning documents used to pass assets on to beneficiaries after death. However, there are very distinct differences. To make the best decision for your family, you should know the three major distinctions between wills and revocable trusts. Privacy When a will is administered, it must go through the court … continue reading the entire article