What You Need to Know If You’ve Been Asked to Serve as a Successor Trustee in Florida It may be an honor to serve as a loved one’s successor trustee, but it’s also an enormous responsibility. You have a legal duty to oversee and distribute trust assets to the intended beneficiaries—and if you make a mistake during trust administration, you …
The reality of being a business owner is that you open yourself up to a number of unique risks that most people don’t have to worry about—and the more successful your business is, the more risks you face. These risks also don’t care what industry or market you’re in. Unfortunately, most business owners aren’t fully aware of all the potential risks …
“You need to have skin in the game,” my parents would tell me when I asked for money and I hadn’t done anything extra special to earn it. What work ethic do you remember your parent(s) teaching you? If you don’t have a vested interest in getting something you really want it will have no value to you. My son …
“Just set up an LLC . . .” These are famous last words in the business world. Setting up a business entity structure might not be the most exciting aspect of starting your own business. However, as a new, or even an experienced, business owner, there can be unexpected surprises but protecting your business should not be one of them. …
How do you envision your guardian angel? Maybe a soft-glowing aura around a heavenly being with outstretched wings to fly in when you need help. But this mythical creature might not appear when your parent or loved one is unexpectedly incapacitated and unable to make sound decisions. Fortunately, with guardianship of your elderly parents, you can serve as a protector …
I was the kid who wanted the crust off of a peanut butter and jelly sandwich because I didn’t think it was necessary. “That’s the best part” my mom would say to me as she took a bite! As an adult I understand what she meant, the proverbial crust is the best part sometimes. Similarly, cutting corners with your business …
Can you bubble-wrap your assets to protect them? This is bulky, cumbersome, and just not realistic. However, there are other ways to be proactive and protect what is most important to you and your business from being sued. What if you are a small-business owner and someone falls and gets injured at YOUR place of business? They could try to sue you professionally and …
A divorce can be an overwhelming experience that impacts every facet of your life. Your estate plan might not be at the forefront of your mind, but a divorce will affect it. Many people forget to update their plan or put it off until it’s too late. Failing to update your plan for divorce can have several potentially tragic consequences. …
In 2008, Congress passed House Resolution 1499 which recognized the need for the public to understand the importance and benefits of estate planning and designated the third week of October as National Estate Planning Awareness Week. Notably, this Resolution passed without objection on the bipartisan sponsorship of 50 representatives. Nevertheless, according to a 2021 survey conducted by Caring.com, only 33 …
What is the best investment you have ever made? It could have been stock options in a company, an NFT, an investment property, or a collectible item. As entrepreneurs, we think the most valuable investment you could make is to invest in yourself. The return on your investment (ROI) of yourself will help you to enjoy the profits now as well …
