Bite-Sized Bits of Knowledge

Planning for Your Legacy: Big Picture Decisions and Issues

What you don’t know can hurt you – and your family and your business. Being prepared means having a plan to navigate life’s unforgiving uncertainties both during life and after death.  We’re talking, of course, about estate planning, and it’s important to realize that...

What Are Involuntary Transfers and How Do They Work?

As the name suggests, an involuntary transfer of your ownership share of a business is a transfer that you are not choosing to make. It is a transfer that is forced upon you due to specific circumstances, which are generally beyond your control. What kind of...

An Introduction to Governing Documents for Your Business

Governing documents consist of shareholders agreements and bylaws for corporations, operating agreements for limited liability companies (LLCs), limited partnership agreements for limited partnerships (LPs) and partnership agreements for partnerships.  They are super...

An Introduction to Business Share Transfers

When you start a business with other people, each of you own a percentage of it – a share. In a two-person partnership, each of you might have a 50-50 share. Adding more people or entities of ownership, obviously, means a reduced shared for everyone. But what if one...

Why People Fail to Plan – and What to Do for Your Plan

We’ve written in the past about the frustratingly high percentage of people who do not have an estate plan. People who, if something happened to them today, would leave their assets – their legacy – completely at the mercy of the law, with no personal say in what...

An Introduction to Business Planning and Business Plans

If you are a small-to-medium-sized business owner, you may view building a business plan as a deeply complex endeavor that will require exorbitant amounts of time. And because of this, you might decide not to bother. You might tell yourself that you already have the...

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...

How Does Your Trademark Factor In to Your Estate Plan?

You may feel that you’re acing your estate planning, because you have created a plan for both your personal and business assets: real estate, stocks, different bank accounts, trustees, business co-owners… And that’s great. But I want to draw your attention to an...

Copyright in Estate Planning

Intellectual property generally relates to three bodies of law: copyright, trademark and patent. Each has it’s own universe of significance, rights, remedies, and the like. In this page, we’re going to be focusing on copyright, a legal tool every artist, writer, or...

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...

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