Thinking About Small Business Bankruptcy? Consider These Factors First

Although often perceived as a worst case scenario, bankruptcy can be an appropriate way for small businesses to recover from unmanageable debt by reorganization, reducing personal liability or liquidating business assets. Sometimes small businesses (or their owners) must turn to bankruptcy when cash flow slows or business expenses cannot be met. There are three types of bankruptcy filings available. If …

How to Include a New Child or Grandchild in Your Estate Plan

The arrival of a new family member can make you feel like anything is possible. As you enjoy the precious moments, months, or years of taking care of a child, it’s easy to forget that they may not get the same care after you’re gone. Unfortunately, many children are in this position, suffering unintentional disinheritance simply because of outdated or …

When Florida Trust Administration Goes Wrong: Words of Warning for Trustees

The passing of a loved one often requires us to step into unfamiliar roles. If you have been named as the successor trustee of a living trust, you must understand that trust administration and estate administration are very different animals. Trusts often contain complicated language and legally-binding duties, and making a small error can result in large financial consequences for the trustee. …

2019 Wealth Counsel Symposium Recap!

This past week I had the pleasure of attending Wealth Counsel’s Symposium in Boston, Massachusetts.  This annual conference brings together some of the best minds in the estate planning and business law field from around the country. This year’s conference featured some of the top experts in their fields. It was a fantastic experience and, respectfully stated, I’m smarter than …

Entrepreneurial Anguish: The Cost of Doing Business

Building a business empire, enterprise, or even just a start-up has its price. The image of the confident and charismatic CEO often falls short of reality. Before, during and after public visibility often comes personal self-doubt, anxiety and mental anguish. Many business owners don’t readily divulge the distress they feel because they don’t perceive it as a positive for the …

Mentorship Matters: How to Learn From Leadership

Early in my Marine Corps career, one of our instructors told us “watch the leaders above and below and pick out the tools you believe would work for you. Discard those that are ineffective or not part of your style. In this way, we work to put leadership errors into the past.” Watching others perform their chosen craft provides lessons …

Is your startup making these 3 costly mistakes?

“Entrepreneurs are the action athletes of the business world.” Stephen Kotler made this observation in his book, The Rise of Superman. Kotler founded his writing on the importance of “flow” for action athletes to be successful in their endeavors. You might have heard of the concept of “flow” being referred to as being “in the zone” or “dialed in”. One aspect …

How to Incorporate Family Values in Your Estate Planning

Baby boomers know money isn’t the only important aspect of estate planning. A 2012 study released by the Allianz Life Insurance, Co. showed baby boomers wanted to leave their family more than just financial assets. Researchers found baby boomers identified family values as some of the most important things to pass down to heirs. In 2012’s economic climate, it’s no …

Tragedy in Paris, Part III: San Bernardino, & Enemy Preparedness

“So in war, the way is to avoid what is strong and to strike at what is weak.” Sun Tzu As the massacre in Paris fades from the headlines, terrorists are determined to keep their cause at the forefront of western civilization. In San Bernardino, California a married couple came to disability services Center, opened fire, and killed 14 people …

YOU LIED! Lessons in Business Fraud Prevention

In hindsight, I should have asked more questions. One of the most well known of Master Sun’s instructions is that “all warfare is based on deception.” The business community adopted many of Sun Tzu’s teachings in the last twenty years. Thus, in some manner, thousands of people engage in deceptive interactions with their fellows in countless different matters. Depending on …