ADVERTISEMENT 417 Business & Elder Law, LLC www.417lawfirm.com 4905 South National, Suite A112 Springfield, MO 65810 Newsletter June 2022 THE MAN WHO SAVED MILLIONS? Meet James Harrison the man with the golden arm It costs nothing — just a bit of time,’ says the 81 year-old dubbed The Man with the Golden Arm James Harrison, the man who has saved the lives of over two million people. Known as the Man With The Golden Arm, James’s blood produces a rare antibody which cures the otherwise fatal Rhesus disease in unborn children. Harrison started donating in 1954 and has donated his blood 1,173 times, a Guinness world record. It is estimated that James’s donations have saved the lives of almost 2.4 million babies. James’s blood has also been used in the development of a medicine, known as anti-D, which, it is hoped, will banish the Rhesus disease in children forever. Commenting on his record, he said: “I could say it’s the only record that I hope is broken, because if they do, they have donated a thousand donations.” We’ve Changed for the Better! Law Office of Sativa Boatman-Sloan, LLC is now 417 Business & Elder Law, LLC After eight years in business, owner and managing attorney Sativa Boatman-Sloan has renamed the law firm to 417 Business & Elder Law, LLC. The change is in part due to the growth of the firm and having multiple attorneys on staff taking expanded leading roles. Additionally, the trend nationwide is for law offices to have a descriptive name designating the types of law they handle. We are very excited for the continued growth this change will bring! CELEBRATING 25 YEARS OF SERVICE Sativa Boatman-Sloan through the years Sativa Boatman-Sloan, Attorney at Law, has quickly become a highly trusted resource in our community. This Springfield native has practiced law for 25 years. She is a savvy, competent lawyer who truly has her clients’ best interests at heart. “My passion is to help families and small business owners; I’m thankful to have a practice where I can do that every day. I love to teach people about their options and inspire them to make sound decisions for their lives.” After graduating from Glendale High School and Truman State University, she graduated from St. Louis University School of Law in 1996 and then spent several years practicing law in the St. Louis area. Although quite successful, she realized that her true passion is helping families secure their businesses and assets for the future. She then returned home to Springfield in 2004. In 2014, Sativa opened her independent practice which quickly grew. Sativa believes in explaining the law to her clients in an easily understandable way and educating them about their options. She sees her role as an educator of the law, on a mission to inform the community about how to best resolve their legal needs. She strives to give them the knowledge and guidance they need to make well informed decisions about what is right for their business or family. “Thanks to your referrals, 417 Business & Elder Law, LLC is rapidly growing and helping more people secure their futures and giving them peace of mind. Word-of-mouth referrals are special because you have placed your trust and confidence in me and my team so that we may help your friends and family.” START A NEW BUSINESS How to get started Not knowing where to start can be the biggest fear. Most entrepreneurs have an idea but don’t know how to put their ideas in motion. Here’s some steps to help! * Market research * Write a business plan * Register your business (Call us, we can help) * Fund your business * Pick a location * Choose a business name * Apply for permits * Open a business bank account “I’m convinced that about half of what separates successful entrepreneurs from the non-successful ones is pure perseverance.” — Steve Jobs WHEN TO GET AN LLC Does my business really need one? Have you ever wondered... do I need an LLC for my business? Don’t worry, we are here to help. An LLC stands for “Limited Liability Company”. An LLC is mainly setup to protect the members’ personal assets and keep them separate from the business’s creditors. What does that mean exactly? Here’s an example: Let’s say your business were to be sued or have unpaid creditors due to some unforeseen circumstance. If you don’t have an LLC, then lawyers and creditors can come after your business assets PLUS your personal home, bank accounts, and other personal assets. By having an LLC in place, your personal assets can be protected. Even if something happens to your business, your personal assets are safe. Protecting your personal assets means everything to you and your family, and creating an LLC has even more benefits. When we create your LLC, we also help build the structure for your business. First, we register your name with the state. Did you know two business entities can’t have the same name in the same state? Next, we create your LLC by choosing a registered agent, filing Articles of Organization, and creating an Operating Agreement. Finally, your CPA or our office can obtain an Employee Identification Number that you will use for tax purposes. Have you ever had to use your Social Security Number for your paperwork on your business? With an EIN number, your SSN is safe and you no longer use it on documents that can end up in the wrong hands. These are just a few small pieces of an LLC. At 417 Business & Elder Law, LLC, we are well versed in state law and can provide you with expertise to create your LLC and ensure that the specific legal issues that impact your individual business are addressed. Call us today to set up an appointment! WANT TO IMPROVE YOUR LIFE? Say NO. Learn why saying “NO” is OK and practice doing it We are busier now than ever. Work, home, school, kids, grandkids, extracurricular activities, and so much more; we sometimes get caught up in it all and lose ourselves. Learning to say “no” helps you establish healthy boundaries and allows you to choose where to put your time and energy. Try these self-help tips to learn how to effectively say “no”. 1. Say NO and don’t feel like you need to give excuses 2. Say NO and set boundaries for yourself 3. Say NO and your mental health will thank you 4. Say NO and do not give in if they keep asking 5. Say NO because it’s OK to be selfish 6. Say NO and your physical health will thank you TRUST AND A WILL What’s the difference and why do you need both? Often clients ask, “If a Trust is more effective in transferring my assets, why do I need both?” A will and a Trust go hand-in-hand. We will explain below why you need both and how we can help. The most important difference between a Will and a Trust is the distribution of your assets after you pass away. By having both a Will and a Trust, you can have all possible outcomes planned for. A Trust will avoid probate and anything that ends up in the Trust will transfer automatically to your beneficiaries upon your death. If anything falls through the cracks and ends up in probate, then a Will is necessary to save time and expenses. What is a Will? A Last Will and Testament is a legal document that sets forth your wishes and distribution of your assets upon death. Preferably, your assets would be set up to transfer on death either to particular people or to your Trust. In the event something does end up in probate, a properly drafted Will can make the process cheaper and easier. As a parent, your Will can also designate guardianship for minor children in the event of your death. Naming a guardian in your Will ensures that the court knows your desires for who would care for your children, a Trust cannot do this. What is a Trust? Creating a Trust forms a separate legal entity and fiduciary relationship. A Trust gives you the power to outline specific rules or conditions for how your assets will be distributed. For example, if parents want children to inherit income only at certain times ,these wishes can be accomplished through a Trust. A Trust can also include provisions to care for your estate in the event you are incapacitated. There are many different types of Trusts and Wills. It can be confusing and a little overwhelming but we can help you sort it out and make the best plan for your situation. Planning how to pass your assets on after death can feel uncomfortable to think about but planning your intentions is a gift to family and friends who will be going through an emotional and grieving time. By planning ahead, this can be one of the best gifts you can give to your loved ones and to yourself as you’ll gain peace of mind knowing that those you care about will be well looked after LAUGHTER A Stress Reducer AND It’s Free for Everyone! There’s no doubt about it, laughter is good for everyone. It not only improves your blood circulation but it helps manage stress and our emotional health. Try these ways to give yourself a giggle each day * Read funny memes and quotes * Have a conversation with a child * Embarrass yourself * Dance like nobody's watching * Call up a friend and chat about the “old days” * Jam out in your car and sing at the top of your lungs Try one of these above or come up with your own. It feels good to laugh. Everyone should have Smile or Laugh on their to do list every day. Join us as we consciously remember to laugh. www.417lawfirm.com - (417) 887-4170 The choice of a lawyer is an important decision and should not be based solely upon advertisements.