Blog — Family Business

Tuesday, April 26, 2016

How to Avoid Common Trust Mistakes

Trusts can be the linchpin of a solid estate plan. It is important to remember that you can't just set up a trust and forget about it. It is a good idea to periodically review how your trust is working to make sure you and your family are getting the full benefit of it. Not doing so can be costly and may cause unintended consequences with respect to one's estate plan.

Here are just a few things to consider and some common mistakes to avoid:

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Tuesday, April 26, 2016

How to Avoid Common Legal Mistakes

Many small businesses, especially entrepreneurial businesses or start-ups, resist acknowledging the legal realities that might make or break their business. No matter what a business does, in some way, shape or form, it always involves the law. As a result, a business owner can choose to look at legal issues as a burdensome cost of doing business, or look at the law as a tool to be leveraged just like any other asset in a business that, with the right legal...

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Tuesday, March 15, 2016

New Laws May Clarify Estate Planning for Online Assets

Including online assets within your estate plan is a new thing, and the legal rules aren’t always entirely clear. But a number of states are now considering laws that will make things easier.

For instance, Delaware recently became the first state to pass a comprehensive law addressing what happens to someone’s online assets when they pass away. Thirteen other states are...

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Tuesday, March 15, 2016

Why Law Matters to Your Business

Law takes care of the creativity, structure and relationships that make your business healthy and vibrant. The legal tools that do this are things like contracts and copyright/trademark laws. That’s a pretty compelling “why.”

Law also takes care of your business in two basic ways. First, it protects your business from unfair competition and from individuals engaging in illegal activity such as fraud. Second, the law...

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Thursday, February 18, 2016

Clean Up Those Liens

I have written several articles over the past few years about the importance of obtaining the paper documentation and paying off obligations to avoid future problems when you want to sell an asset that you originally financed when you purchased it. This can be anything from a vehicle or a boat to a more significant asset like real estate or even a business and business assets like machinery and equipment.

The problem arises when you pay off an...

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