Estate plans can be as unique as the individuals and families they protect. Do not assume you need the same type of will or trust option that your parents or friends chose. Instead, work with your estate planning attorney to explore all…
Why a Buy-Sell Agreement Is a Critical Piece of a Business Owner's Estate Plan By Brittany L. Littleton According to a recent survey, nearly two out of three adults have not implemented an estate plan to provide for their loved…
Corporations are required to have a board of directors, which is selected by the shareholders. The board of directors helps govern the corporation, provides advice and counsel, conducts high-level management, elects officers, votes on key decisions, and protects shareholders’ interests.…
Most business owners will tell you that the time they put into running their company makes it almost impossible to distinguish their professional life and their home life. For married entrepreneurs, this can create unique challenges. Not only do the…
It has been a tough couple of years for many small businesses, but, as the adage goes, what doesn’t kill you makes you stronger. Small businesses that survived the challenges of 2020 and 2021—the worst pandemic in US history, a…
Small businesses make a huge contribution to our economy. Nevertheless, starting a new business is risky. Lenders view loans to small businesses, particularly start-ups, as among the riskiest they make, particularly when there is little or no credit history or…
For many employees, saving for retirement is usually a matter of simply participating in their employer’s 401(k) plan and perhaps opening an IRA for some extra savings. But, when you’re the owner of a business, planning for retirement requires proactivity…
For most business owners, employees, vendors, and customers are essential to keeping your business successful. When someone with inside knowledge about your vendors, employees, and customers leaves your company, your business becomes vulnerable to losing these critical assets to competitors.…
Just a year ago, businesses across the United States shuttered temporarily in response to the novel coronavirus. Some of these businesses could not weather the virus storm and closed for good. Now that COVID-19 vaccines are available, many businesses are…
Determining whether to start a business is a major life decision. For small business owners, deciding when and how to sell the business is arguably even more consequential. Before selling a business, the owner is likely to spend many hours…