Blog - Page 34 of 37 - Lawan Law Group, PLLC

ummil

10 Reasons Why Your Business Needs a Family Business Lawyer™

As a small business owner, you may be wondering why you need to hire a lawyer to help yourun your company. This is especially true today when you can access just about everyconceivable legal document online for cheap from the countless online do-it-yourself documentservices like LegalZoom and Rocket Lawyer. But here’s the thing: Without the guidance and support of trusted legal counsel, you are likelynot aware of all the ways your business is leaking money, putting yourself and your family atrisk, and possibly limiting the positive impact you have on the lives of your clients. Beyond those potential issues, if… View Post

ummil

5 Mistakes Start-ups Make When Forming Their Business

It seems that everywhere you look, a new start-up is trying to make it big with a game-changingidea. But it’s only the ones that can turn that idea into reality that reach business success. Toomany start-ups fail to make the transition from idea to execution or encounter major setbacksalong the way. In the midst of developing your growing start-up, don’t make the commonmistake of disregarding tedious, but vital tasks such as making sure all your legal, insurance,financial, and tax ducks are in a row. Establishing a solid legal system can help you avoid costly mistakes and save time and stressdown… View Post

ummil

How Estate Planning Can Bring Blended Families Closer

Yours, mine and ours … in today’s modern family, it’s oh so common. The blended family is theproduct of 2nd (or more) marriages, in which one or more of the parties comes with childrenfrom a prior marriage. And then, they may even go on to have children together. If you have or are part of a blended family, it’s important to understand how estate planningcould be exactly what you need to keep your family out of conflict and in love, both during life,in the event of incapacity, and when one or more of the senior generation (read: parents) dies. Let’s… View Post

ummil

Why Operation Agreements Are a Must For Business Owners

As with so many things in life, some of the same qualities that help small businesses succeed can also lead to their demise. Fortunately, much of that risk can be lessened through operational excellence. For example, the owners and managers of small businesses often know each other before they go into business together. Sometimes, they’re even related. Preexisting relationships can help propel small businesses forward, especially when there are high levels of trust and competence. Unfortunately, however, familiarity is sometimes accompanied by a lax attitude toward operational formalities. Owners and managers may skimp in critical areas such as: Governing documents… View Post

ummil

Why You Need a Trust – Even if You Aren’t Rich

When you hear the words, “trust fund,” do you conjure up images of stately mansions and party yachts? A trust fund – or trust – is actually a great estate planning tool for many people with a wide range of incomes who want to accomplish a specific purpose with their money. Simply put, a trust is just a vehicle used to transfer assets, and trusts are especially useful for parents of minor children as well as those who wish to spare their beneficiaries the hassle of going to Court in the event of their incapacity or death. And why would… View Post