Blog - Page 27 of 43 - Lawan Law Group, PLLC

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Why Every Business Owner Should Consider A Trust

Trusts are often underused or misused tools for business owners, as they can provide a range of tax, asset protection, and succession planning benefits, when established and maintained in the right way. As a Creative Business Counselor with family business planning expertise focusing on serving business owners, I can help you choose the right Trust strategy for protecting your assets, managing your income taxes and ensuring your family doesn’t get stuck with a big estate tax bill or in an unnecessary court process, if you become incapacitated or die. Protect Your Personal & Business Assets One key benefit of a… View Post

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Estate Planning Before You Travel: Why It’s Critically Important

Vacations can be the perfect opportunity to relax, disconnect from work and responsibilities, and enjoy your spouse, partner, kids’ or friend’s company. But before you head off on your next getaway, there’s something else you should consider doing that might not sound quite as fun—creating an estate plan. While it may not sound like the most thrilling way to spend a day, here are some reasons why you need to think about your estate plans before you travel. Yes, Even Married Couples Need an Estate Plan You might think that because you are married, you don’t need an estate plan.… View Post

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10 Small Business Bookkeeping Mistakes

Keeping your finances in order is crucial for the success of your business. Even if you’re running a small operation, bookkeeping is a critical component that cannot be overlooked. While it may not be the most exciting task, it’s important to ensure accuracy to avoid costly mistakes that could hurt your business in the long run. As the person responsible for completing these tasks, it’s important to recognize that you may not have the same level of accounting expertise as larger businesses that can afford to hire specialized professionals. That’s why it’s crucial for you to educate yourself on the… View Post

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Why Everyone Needs to Keep Their Estate Plan Updated

As the world and its laws continue to evolve, everyone needs to keep their estate plans up to date. An estate plan is a set of documents, such as a will or trust, that dictate how assets will be distributed upon death or incapacity. An individual’s current legal and financial situation should be considered to create a comprehensive estate plan tailored specifically to their needs. Ensure Your Wishes Are Respected The primary reason to update an estate plan is to ensure that an individual’s wishes are respected upon death. For example, suppose an individual has recently acquired valuable property or… View Post

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Protecting Your Privacy: Understanding Nominee Services for Business Owners

As a business owner, you may want to keep your personal information private and out of the public record. Luckily, if you want to run your own business but prefer to stay out of the spotlight, there’s a solution to this problem that many business owners use – nominee services. Nominee services allow you to use the personal information of a nominee on your business’s records, such as articles of incorporation and annual financial reports, instead of using your own personal information. By doing so, you can keep your identity confidential while still complying with legal requirements. What Is a… View Post