Blog - Page 33 of 38 - Lawan Law Group, PLLC

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Before You Sell Your Business (Or Any Other Appreciated Asset), Read This!

Although paying taxes is a largely unavoidable part of running a business, you might be pleasantly surprised to learn that there is one common type of tax you can often avoid paying—capital gains taxes. That said, the only way you can avoid paying capital gains taxes (at least legally) is if you plan in advance. Since we are only a few weeks away from the end of the year, it might seem like it’s too late to save on capital gains taxes in 2021, but you may still have time if you act immediately. And if it does end up… View Post

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FAQs About Long-Term Care Insurance

Our nation’s population is aging at a faster rate than ever before, and collectively we are living much longer than in the past. In fact, by 2034, seniors (age 65 and older) will outnumber children under age 18 for the first time in U.S. history, according to Census Bureau projections. Moreover, many people mistakenly believe that their health insurance or the government will pay for their long-term care needs. But the fact is, traditional health insurance doesn’t cover long-term care. And though Medicare does pay for some long-term care, it’s typically limited (covering a maximum of 100 days), difficult to… View Post

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Think You Are Too Young to Need An Estate Plan? Think Again

The pandemic has caused Americans to change their behavior in a number of different ways, and one of the most positive of these changes is related to estate planning. For the first time since the study’s inception, Caring.com’s 2021 Wills and Estate Planning Study found that young adults are now more likely to have an estate plan than middle-aged adults. Specifically, the study found that in 2020 only 16% of Americans aged 18 to 34 reported having a will or another estate planning document, but in 2021, that percentage rose by 10 points to 26%—a 63% increase in just one… View Post

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How to Protect Your Intellectual Property and Trade Secrets With Agreements (Non-Disclosure and Work for Hire Agreements)

The employment landscape has changed over the last few years and many small and mid-size companies today operate with outside help – contractors or freelancers who perform important tasks but who are not full-time employees on your payroll, or even third-party companies who consult on a new product or service. While companies that contract with these outside resources can gain access to top-tier talent without having to increase headcount, there can be pitfalls to this approach in terms of properly protecting company secrets and intellectual property assets. Here’s what you need to know before you bring on a new team… View Post

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Legal Advice When Settling Business Disputes

A large part of being a successful business owner is knowing how to consciously manage relationships and facilitate conflict when it arises in a healthy and productive way. When business owners and managers find themselves in a disagreement or misalignment of expectations, the potential costs are endless. For starters, the energetic drain from the conflict, possible loss of personnel, and of course your reputation as a trustworthy business. First and foremost, remember that conflict most often arises because an agreement or process was not properly handled at the start. It’s important as a business owner that at the beginning of… View Post