Articles Posted in Uncategorized

While you may think of your team as family and believe that they would never sue you, lawsuits filed by employees are actually one of the most common causes of litigation for small businesses. In fact, nearly one in every five small businesses will get sued by an employee at some point. Of all types…

August is “National Make-A-Will Month,” and if you have already prepared your will, congratulations—too few Americans have taken this key first step in the estate planning process. In fact, only 33% of Americans have created their will, according to Caring.com’s 2022 Wills and Estate Planning Study. Yet, while having a will is important—and all adults…

If you have started to save for your child or grandchild’s college education, it’s worth considering whether to use a 529 plan, an education savings account, or an irrevocable trust. Last week, in part one of this series, we discussed 529 plans and education savings accounts, which are both popular options for saving for college…

Putting in place the right types and amounts of business insurance is a key part of your company’s LIFT risk-mitigation and asset-protection foundation. However, like other foundational business systems, if your business insurance isn’t regularly reviewed and updated as your operation grows, your coverage can prove inadequate, putting your business at serious risk in the…

Using independent contractors (ICs) can give your company an edge in today’s thriving gig economy, but if you are not careful, contractors can also be a serious liability. In fact, working with ICs comes with a number of unique legal and financial risks that can be potentially ruinous to your business if not handled properly.…

If you have started to save for your child or grandchild’s college education, it’s worth considering whether to use a 529 plan, an education savings account, or an Irrevocable Trust. Here’s what we think you should consider as you decide: First, consider whether you want your offspring to have broader options than just the traditional…

When you run your own business, oftentimes one of the most confusing aspects of the job, especially if you are new to the experience, is understanding how to separate yourself from your business. And this issue can show up in so many ways, from achieving a work/life balance and managing your time to how you…

You might think that only the super wealthy need to worry about asset protection planning. But the truth is that if you don’t have millions, you may be at even greater risk. For instance, if you are a multi-millionaire, a $50,000 judgment against you might not be that big of a deal. But for a…

Despite the fact that it happens to every single one of us and is as every bit as natural as birth, very few among us are properly prepared for death—whether our own death or the death of a loved one. Yet the pandemic might be changing this. According to Census figures, the pandemic caused the…

If you dream of one day leaving your company to your family, but you haven’t properly included your business in your estate plan, that dream could become a nightmare for your heirs—and for your partners, team members, and clients, too. In fact, properly planning for what would happen to your business upon your death or…