Author: Linsi Tuttle
Common Reasons Businesses Are Sued, and What to Watch Out for in Your Business
Posted on March 20, 2023
For business owners, the threat of a lawsuit is always present to some degree. Even the most responsible business owner may not entirely avoid the risk of being sued. However, there are many steps business owners can take to reduce their risk of being sued successfully. For many businesses, making a few simple adjustments to their business operations, contracts, or insurance coverage can lower the risk of a lawsuit dramatically. If you own or manage a business, make sure you understand the most common reasons that companies get sued and […]
The Why’s and How’s of Succession Planning
Posted on March 16, 2023
As a business owner, it can be hard to think about a time when you are no longer involved in the business. After all, you have probably spent countless long hours developing your business and making it the success that it is. However, it is crucial for every business owner to consider what will happen to the business if they retire, sell the business, become incapacitated, or pass away. Having a succession plan in place is essential for preparing your business to transition smoothly after you move on. Planning for […]
Most Common Estate Planning Mistakes Everyone Should Avoid
Posted on March 9, 2023
Estate planning is important for individuals of all ages, races, income levels, and backgrounds. With a proper estate plan, you can ensure that your assets are distributed to beneficiaries in the way you want them to be. You can also use estate planning instruments to reduce estate taxes, avoid probate, donate to charitable causes, plan for incapacitation, set up financial support for a disabled loved one, and much more. Unfortunately, many people make costly mistakes when creating their estate plans. Here are some of the most common estate planning mistakes […]
Do All Wills Go Through Probate?
Posted on March 7, 2023
A last will and testament is generally considered to be the most fundamental element of an estate plan. With a will, you are given the chance to dictate how your worldly possessions are distributed to beneficiaries upon your death. Wills are also used to designate a guardian for minor children to take care of the children if the parents pass away. Unfortunately, there are many misunderstandings and misconceptions about how wills work. One question many people ask is, “Does my will have to go through probate?” Probate is a legal […]
Estate Planning Keeps You in Control Even if You Are Incapacitated
Posted on February 28, 2023
The possibility of incapacitation caused by illness or injury exists for everyone. Although it is uncomfortable to consider, it is important to prepare for this possibility so that you can maintain control of your assets and responsibilities should you ever become incapacitated. Estate planning can help ensure that you remain in control despite any medical conditions. There are several legal tools available through estate planning that will give you peace of mind knowing that if anything happens to you, your wishes will still be carried out. Power of Attorney and […]
The Importance of Talking to Your Accountant – Even if It Is Not Tax Season
Posted on February 23, 2023
Many people who run small and medium-sized businesses only talk to their accountants during tax season. However, it is essential to remember that your accountant is an integral part of your business year-round. Tax deadlines are important, but the most successful business owners are those who have an ongoing relationship with their accountants and other financial professionals. Communicate with Your Accountant Frequently and Transparently Open communication with your accountant will help you plan for the future, strategize for growth, adjust your business procedures as needed, and make sure that you […]
Do You Have an Exit Strategy?
Posted on February 22, 2023
Whether your business is brand new or you are celebrating a milestone anniversary – every business owner should have an exit strategy. Succession planning is crucial for businesses of every size. However, this is a task that many people put on the back burner. Working on an exit strategy well in advance of a planned exit is one of the best ways to reduce disruptions to your business when you or other key players do leave the company. It can also help ensure that the business is best prepared to […]
Why You Need to Share Your Company Vision
Posted on February 16, 2023
When an entrepreneur starts or purchases a business, he or she is usually full of ambition. The owner has a specific vision for the company, including what the business will achieve and how it will operate. However, over the years, many business owners get caught up in the everyday responsibilities of running the company. They start to forget why they got into business in the first place, and their lofty goals become a distant memory. Whether you are a long-time business owner or just starting out, it is important to […]
Take Care of Your Loved Ones with Proper Estate Planning
Posted on February 14, 2023
Whether it is family, friends, pets, or other loved ones, we all have people in our lives that we want to take care of. Proper estate planning is one of the best ways to do this. Estate planning not only allows you to ensure that your wishes are followed after your death, it also saves your loved ones a significant burden upon your passing. Benefits of Estate Planning Go Beyond the Financial Estate planning is often used to reduce taxes and other costs associated with transferring assets after death. However, […]
How to Stay on Top of Changing Laws as a Business Owner
Posted on February 10, 2023
As a business owner, staying on top of changing laws can be a challenge. With new regulations and legal issues popping up all the time, it is important to ensure your business is compliant and protected from potential lawsuits, regulatory issues, or other legal problems. Failure to keep up with changing laws can result in hefty fines, reputational damage, and other serious consequences that can be costly for your business. The good news is that there are steps you can take to help protect your business from these pitfalls. Keeping […]
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