Blog - Page 29 of 37 - Lawan Law Group, PLLC

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7 Tips For Creating A Winning Business Plan

Far too many aspiring entrepreneurs jumpstart their businesses without taking the time to properly plan. Just as a builder uses a blueprint to ensure a new construction project will be structurally sound, a carefully researched and well-thought-out business plan allows you to determine whether or not your business concept will actually succeed and make money. A solid business plan can not only serve as a roadmap to guide your company’s progress, but it can also give you an opportunity to test the validity of your business model, research the market, understand your competition, and avoid potential pitfalls. And if you… View Post

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Preventing Family Conflict And Disputes Over Your Estate Plan

No matter how well you think you know your loved ones, it’s impossible to predict exactly how they’ll behave when you die or if you become incapacitated. No one wants to believe that their family members would ever end up fighting one another in court over inheritance issues or a loved one’s life-saving medical treatment, but the fact is, we see it all the time. Family dynamics are extremely complicated and prone to conflict even during the best of times. But when tragedy strikes a member of the household, even minor tensions and disagreements can explode into bitter conflict. And… View Post

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Is It Time To Rethink Your Company’s Cybersecurity?

As a small business owner, you may not consider cybersecurity as one of your top priorities, especially if you have a limited online presence. However, that kind of thinking can leave your company seriously vulnerable to hackers and a rapidly increasing number of online threats. And the threat against small businesses is at an all-time high. In fact, more than half of all small businesses suffered a breach of client data within the last year, according to a recent study by Hiscox insurance. The pandemic has only added to the risk. With more and more employees working remotely, where they… View Post

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5 Ways DIY Estate Plans Can Fail & Leave Your Family At Risk—Part 2

Do a Google search for “digital wills” or “online estate planning,” and you’ll find dozens of different websites offering low-cost, do-it-yourself (DIY) and sometimes even free estate planning documents, such as wills, trusts, powers of attorney, and healthcare directives. From LegalZoom® and Rocket Lawyer® to TrustandWill.com and FreeWill.com, these DIY legal documents may seem like a cheap and easy way to finally cross estate planning off your to-do list—and do so without having to pay a lawyer big bucks to assist you. After all, you’ve been able to prepare and file your taxes online for years, is estate planning really… View Post

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Putting Your Kids On The Payroll Can Benefit Your Business AND Help You Save Big Money On Your Taxes

Paying your children—whether they’re tweens, teens, or young adults—to work for your company is one of the greatest advantages of running a family business. By hiring your kids, you can help them develop a strong work ethic, give them experience managing money, and jumpstart their ability to save for their future, all while keeping more wealth in your family. In return, you get employees who have a built-in sense of commitment, teamwork, loyalty, and you may even end up with a long-term succession plan. This sense of dedication is why so many business owners like to claim that their team… View Post