Blog - Page 26 of 37 - Lawan Law Group, PLLC

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Probate: What It Is & How To Avoid It—Part 2

Unless you’ve created an estate plan that works to keep your family out of court, when you die (or become incapacitated) many of your assets must go through probate before those assets can be distributed to your heirs. Like most court proceedings, probate can be time-consuming, costly, and open to the public, and because of this, avoiding probate—and keeping your family out of court—is often a central goal of estate planning. To spare your loved one’s the time, cost, and stress inherent to probate, last week in part one of this series, we explained how the probate process works and… View Post

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4 Risk-Management Strategies To Protect Your Business and Personal Assets

No matter what line of business you are in, the reality of being a successful business owner is that you open yourself up to a number of different risks—and the more successful you get, the more risks you face. Asset-protection planning is intended to reduce or eliminate the risks of being in business by shielding your business and personal assets from litigants, creditors, and other potential threats to the fullest extent legally possible. And it’s crucial to have these strategies in place from the moment you open your doors, because once a claim or lawsuit is filed, it’s too late.… View Post

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Updating Your Estate Plan For Divorce: 5 Changes To Make

Even if the process is amicable, divorce can be one of life’s most stressful events. With so many major changes taking place, it’s easy to forget to update your estate plan—or simply put it off until it’s too late. After all, dealing with yet another lawyer is probably the last thing you want to do. However, neglecting to update your estate plan for divorce can have potentially tragic consequences. And you shouldn’t wait until the divorce is final to rework your plan—you should update it as soon as you realize the split is inevitable. Here’s why: Your marriage is legally… View Post

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Probate: What It Is & How To Avoid It—Part 1

Unless you’ve created a proper estate plan, when you die many of your assets must first pass through the court process known as probate before those assets can be distributed to your heirs. Like most court proceedings, probate can be time-consuming, costly, and open to the public, and because of this, avoiding probate—and keeping your family out of court—is a central goal of most estate plans. During probate, the court supervises a number of different legal actions, all of which are aimed at finalizing your affairs and settling your estate. Although we’ll discuss them more in-depth below, probate typically consists… View Post

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5 Strategies For Boosting Your Startup’s Cash Flow

Although cash is the lifeblood that sustains every business, far too many business owners fail to properly manage their cash flow. And this is despite the fact that statistics consistently show that running out of money is one of the main reasons new businesses go under. Trying to run a business without carefully managing your cash flow is like fighting a rising tide: Sooner or later you’re going to find yourself underwater. And even if your business generates healthy revenue, you can still experience the occasional cash crunch—which is especially true during your first few years of operation. To avoid… View Post