Bite-Sized Bits of Knowledge
Advantages and Disadvantages of Different Business Structures
There are a variety of business structures depending on your business’ goals and needs, such as: Sole proprietorship Limited liability company (LLC) Professional Association Corporation S-Corporation Partnership Limited Partnership Limited Liability Partnership...
Should You Leave Everything to Your Spouse? Questions about Marriage and Estate Planning
In Florida, if you are married and have adult children together (assuming that neither one of you has children with another person), all of your assets will automatically go to your spouse unless you create an alternate plan. This is a good thing, right? After all,...
What Is “Elective Share” and How Can It Affect Your Estate?
Like homestead, Florida’s elective share can wreak havoc on an estate. What exactly is elective share?Hi, this is Barry Haimo. Thank you for stopping by for a dose of Bite-Sized Bits of Knowledge, where we give you meaningful information in a short amount of time....
The State Won’t Just Takes Your Assets – Estate Planning Myths Debunked
In estate planning, uncertainty and misconceptions often shroud the fate of our assets after we're gone. One prevalent belief revolves around the idea that if you pass away without a will, the state swoops in to claim your hard-earned wealth. Is this true? No. And...
Establishing Exit Planning Systems to Maximize Business Value
Building Systems for a Successful Business ExitRunning a business is an exhilarating journey that requires immense dedication, hard work, and strategic planning. As an entrepreneur, it's important to consider how to build and grow your business so that it can continue...
The Importance of Exit Planning Deal Points on the Sale of a Business
Selling your business involves a myriad of considerations. Beyond market conditions, due diligence sets the stage for securing a favorable price and advantageous terms in the sale. This video highlights crucial steps from the initial nondisclosure agreements (NDAs) to...
The Effects of Capital Calls on a Business and Its Shareholders
What Is A Capital Call and How Does It Affect Your Shareholder Status? A capital call arises when management determines the need for additional funds and issues a notice to shareholders. The notice requests shareholders to contribute more money or assets. Typically,...
How Tag-Along and Drag-Along Rights Empower Shareholders
Understanding the Significance of Tag-Along and Drag-Along Rights in Business Ownership In the realm of business ownership, certain rights play a crucial role in protecting the interests of both majority and minority shareholders. Two such rights are Tag-Along and...
Preparing Your Business for the Future: An Exit Planning Overview
As every business owner knows, there’s an endless stream of challenges and conflicts that can and often do arise during the life of the business. Business planning is the art and science of helping businesses at all stages of their life cycles, from the formation of...
Why You Want to Have a Good Customer Agreeement
Let’s say you sell someone a product or perform a service for them. You think it’s a pretty simple relationship. They pay you and they receive something in return. But what if something goes wrong with that product or they just want to return it? What if they ask you...
