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Travel Day 2 of 3 this week, and another good reason to avoid the noise in the media and focus on things we can control. I'm back at the airport about 7 hours after I left last night and am reminiscing about what "travel days" looked like 20+ years ago (in between keeping an eye out for Kristi Paulson, who seems to take more airport selfies than any attorney I know). Back then, it was an early morning train to Mineola for Family Court; today, it's an early morning flight to the New York office for Federal Court this week. Ironically, the commute time isn't much longer, but it is a bit more expensive than that train ride on the LIRR. Most times, this is what your lawyer's life looks like. It's not the glamor of "Suits" but the grit of "Law and Order" (the original seasons with Jerry Orbach). It's often hours of travel for a 15-minute court appearance. With a gate full of yawning passengers, it's time to board the plane and head off on the next adventure. Walk me out in the morning dew today...

Irrevocable Trusts are Like Tattoos? Yeah, I'm Going to Try To Make This One Make Sense... An irrevocable trust can be a bit like getting a tattoo: once it's done, it's pretty permanent. If you've got a fear of needles, I'd suggest the trust over the tattoo, but I digress... Why would anyone want to do that with their assets? It's a more advanced planning technique that isn't appropriate for everyone (must like a tattoo), but you should understand its role in an estate plan. What is an Irrevocable Trust? It's a legal arrangement where you, the grantor, place your assets into a trust. After transfer, you can't easily modify or revoke it. It's managed by a trustee for beneficiaries. When is it Useful? * Asset Protection ~ Assets in an irrevocable trust are generally safe from creditors and lawsuits. * Estate Tax Reduction ~ Transferring assets can reduce the size of your estate and thus potential estate taxes. * Medicaid Eligibility ~ Assets transferred to an irrevocable trust may not count towards Medicaid eligibility. * Charitable Giving ~ You can set up a trust to benefit a charity and potentially enjoy tax deductions. * Control Over Your Legacy ~ Decide how and when your heirs receive their inheritance. Irrevocable trusts offer benefits, they're not for everyone. It's a decision that requires careful consideration and professional advice. You can go through the painful procedure of having a tattoo removed, and you can also go through a pretty significant legal procedure to undo an irrevocable trust, but it's better to know what you're getting into on both fronts in my opinion... ~~~~~~~~~~ 𝘐 𝘩𝘦𝘭𝘱 𝘧𝘢𝘮𝘪𝘭𝘪𝘦𝘴 𝘤𝘳𝘢𝘧𝘵 𝘵𝘩𝘦𝘪𝘳 𝘭𝘦𝘨𝘢𝘤𝘪𝘦𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘦𝘴𝘵𝘢𝘵𝘦 𝘱𝘭𝘢𝘯𝘴 𝘥𝘦𝘴𝘪𝘨𝘯𝘦𝘥 𝘵𝘰 𝘱𝘳𝘰𝘵𝘦𝘤𝘵 𝘵𝘩𝘦𝘮 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘢𝘳𝘣𝘪𝘵𝘳𝘢𝘳𝘺 𝘳𝘦𝘲𝘶𝘪𝘳𝘦𝘮𝘦𝘯𝘵𝘴 𝘰𝘧 𝘵𝘩𝘦𝘪𝘳 𝘭𝘰𝘤𝘢𝘭 𝘱𝘳𝘰𝘣𝘢𝘵𝘦 𝘭𝘢𝘸𝘴. 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘬𝘯𝘰𝘸 𝘸𝘩𝘢𝘵 𝘵𝘩𝘢𝘵 𝘭𝘰𝘰𝘬𝘴 𝘭𝘪𝘬𝘦 𝘧𝘰𝘳 𝘺𝘰𝘶? 𝘋𝘔 𝘮𝘦, 𝘢𝘯𝘥 𝘸𝘦 𝘸𝘪𝘭𝘭 𝘨𝘦𝘵 𝘢 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯 𝘴𝘵𝘢𝘳𝘵𝘦𝘥.

Thinking of putting your rental property in an LLC? 🚨 It’s a smart move for liability protection—but your mortgage lender might have other plans! Here’s what you need to know: ✅ How an LLC protects you from lawsuits & partner disputes ✅ Why your lender might block the transfer (and how to check) ✅ The due-on-sale clause—is it really a risk? Don’t make a costly mistake—watch this before transferring your property! 🏡💼

Vertex League Recap: Unlocking the Power of the Black Box Problem-Solving Technique Last Friday, I had a chance to connect with other members of Vertex League and learn some fascinating systems/strategies courtesy of Andrew Zihmer and Tracy Zihmer. One that stood out? Creating systems using the Black Box Problem-Solving technique: Input -> Black Box -> Output It really is that simple (at least to start). Some principles from my notes: * Simplicity Meets Complexity: It allows us to approach intricate systems without getting bogged down in technical details. * Innovation Through Hypotheses: It emphasizes the high-level hypothesis so that you don't get bogged down in the details to start. * The Power of the Whiteboard: Using it with your team for brainstorming sessions creates real value in finding the best processes you can use. When you're solving business challenges, embracing the Black Box technique can help you focus on outcomes, foster innovation, and build trust.

DIY LLC Agreements: Smart Move or Legal Disaster? Sure, you can draft your own LLC operating agreement—but should you? A small mistake could cost you BIG in court. Here’s what you need to know before going the DIY route! ⚖️🚨

What happens if you can’t speak for yourself during a medical emergency? That’s where a living will comes in—a powerful part of your estate plan that most people overlook. A living will allows you to stay in control of your healthcare decisions, even if you're unconscious or incapacitated. You can spell out your preferences for: * Life support * Pain management * Feeding tubes * Resuscitation * Organ donation Without one, your family may be left guessing—and that can lead to stress, confusion, and even conflict during an already emotional time. These directives are often part of a broader estate plan structure that lets you both outline your wishes and name a healthcare agent. One thing to remember is that a living will isn't "required" - for some people (about half of the clients I work with), they don't agree with what the living will says, it doesn't actually reflect their wishes. But if you paid for a set of mail-merged documents from some website? They don't tell you that this document isn't required and I've had a few clients over the years who didn't realize that. So, if you haven’t reviewed your healthcare directive in the past few years, now is the time and also a good reminder to make sure it actually reflects your wishes. ~~~~~~~~~~ 𝘐 𝘩𝘦𝘭𝘱 𝘧𝘢𝘮𝘪𝘭𝘪𝘦𝘴 𝘤𝘳𝘢𝘧𝘵 𝘵𝘩𝘦𝘪𝘳 𝘭𝘦𝘨𝘢𝘤𝘪𝘦𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘦𝘴𝘵𝘢𝘵𝘦 𝘱𝘭𝘢𝘯𝘴 𝘥𝘦𝘴𝘪𝘨𝘯𝘦𝘥 𝘵𝘰 𝘱𝘳𝘰𝘵𝘦𝘤𝘵 𝘵𝘩𝘦𝘮 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘢𝘳𝘣𝘪𝘵𝘳𝘢𝘳𝘺 𝘳𝘦𝘲𝘶𝘪𝘳𝘦𝘮𝘦𝘯𝘵𝘴 𝘰𝘧 𝘵𝘩𝘦𝘪𝘳 𝘭𝘰𝘤𝘢𝘭 𝘱𝘳𝘰𝘣𝘢𝘵𝘦 𝘭𝘢𝘸𝘴. 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘬𝘯𝘰𝘸 𝘸𝘩𝘢𝘵 𝘵𝘩𝘢𝘵 𝘭𝘰𝘰𝘬𝘴 𝘭𝘪𝘬𝘦 𝘧𝘰𝘳 𝘺𝘰𝘶? 𝘋𝘔 𝘮𝘦, 𝘢𝘯𝘥 𝘸𝘦 𝘸𝘪𝘭𝘭 𝘨𝘦𝘵 𝘢 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯 𝘴𝘵𝘢𝘳𝘵𝘦𝘥.

Do You Really Want the Public to Know All About the Financial Health of Your Small Business? In January, I helped the Johnson family (names changed for privacy purposes) avoid a probate nightmare. They were a lovely family with a successful small business, but they hadn’t thought about estate planning. Then Mr. Johnson had a health scare around the holidays and the reality hit home: they needed to take action to protect their legacy. We started with a Trust ~ Nothing fancy, just a simple document to ensure their assets transferred smoothly. This move alone keeps their estate out of the public eye. Next, their financial advisor updated their beneficiary designations. Simple, quick, and incredibly effective. The Johnsons were thrilled to find out they could keep their family business private and intact. No court battles. No public records. Just a seamless transition, exactly as they intended. It’s not just about legal documents ~ it’s about peace of mind for families. Your legacy is worth it. Have you taken steps to keep your estate private? ~~~~~~~~~~ 𝘐 𝘩𝘦𝘭𝘱 𝘧𝘢𝘮𝘪𝘭𝘪𝘦𝘴 𝘤𝘳𝘢𝘧𝘵 𝘵𝘩𝘦𝘪𝘳 𝘭𝘦𝘨𝘢𝘤𝘪𝘦𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘦𝘴𝘵𝘢𝘵𝘦 𝘱𝘭𝘢𝘯𝘴 𝘥𝘦𝘴𝘪𝘨𝘯𝘦𝘥 𝘵𝘰 𝘱𝘳𝘰𝘵𝘦𝘤𝘵 𝘵𝘩𝘦𝘮 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘢𝘳𝘣𝘪𝘵𝘳𝘢𝘳𝘺 𝘳𝘦𝘲𝘶𝘪𝘳𝘦𝘮𝘦𝘯𝘵𝘴 𝘰𝘧 𝘵𝘩𝘦𝘪𝘳 𝘭𝘰𝘤𝘢𝘭 𝘱𝘳𝘰𝘣𝘢𝘵𝘦 𝘭𝘢𝘸𝘴. 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘬𝘯𝘰𝘸 𝘸𝘩𝘢𝘵 𝘵𝘩𝘢𝘵 𝘭𝘰𝘰𝘬𝘴 𝘭𝘪𝘬𝘦 𝘧𝘰𝘳 𝘺𝘰𝘶? 𝘋𝘔 𝘮𝘦, 𝘢𝘯𝘥 𝘸𝘦 𝘸𝘪𝘭𝘭 𝘨𝘦𝘵 𝘢 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯 𝘴𝘵𝘢𝘳𝘵𝘦𝘥.

Why should you make sure attorney fees are in your contract? Watching the case before me in court this morning and one of the sticking points to getting the case resolved was the attorney fees that were being incurred. From what I picked up in the argument, the parties' contract did not have an attorney fees provision. This provision isn't in every contract, but there are some important reasons you should consider it for your next contract: It Levels the Playing Field With an attorney fees clause, if things go south and you end up in court, the loser pays the legal fees. This helps keep frivolous lawsuits at bay and puts both sides on equal ground. It Can Save You Costs Take it from a lawyer, legal battles can drain your wallet. Covering attorney fees in your contract can save you from those surprise expenses. It Encourages Quick Settlements Knowing that the loser might foot the legal bill pushes everyone to settle disputes faster. That means saving time and money! It Can Keep Things Fair This clause ensures that if you’re in the right, you won’t be left with a financial burden just for standing your ground. It Gives You Peace of Mind Having this covered means you can focus on growing your business without stressing over unexpected legal hiccups. This little piece of fine print can save you big bucks. Without it, you could end up paying way more than you planned. So, the next time you're drawing up a contract, double-check that this clause is in there. As for the folks ahead of me this morning? They've still got more work to do and have another court date in their future unless they can find a path to a settlement... ~~~~~~~~~~ 𝘐 𝘩𝘦𝘭𝘱 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘰𝘸𝘯𝘦𝘳𝘴 𝘱𝘳𝘰𝘵𝘦𝘤𝘵 𝘵𝘩𝘦𝘪𝘳 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘱𝘭𝘢𝘯𝘯𝘪𝘯𝘨 𝘢𝘯𝘥 𝘱𝘳𝘰𝘢𝘤𝘵𝘪𝘷𝘦 𝘭𝘦𝘨𝘢𝘭 𝘵𝘢𝘤𝘵𝘪𝘤𝘴. 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘬𝘯𝘰𝘸 𝘸𝘩𝘢𝘵 𝘵𝘩𝘢𝘵 𝘭𝘰𝘰𝘬𝘴 𝘭𝘪𝘬𝘦 𝘧𝘰𝘳 𝘺𝘰𝘶? 𝘋𝘔 𝘮𝘦, 𝘢𝘯𝘥 𝘸𝘦 𝘸𝘪𝘭𝘭 𝘨𝘦𝘵 𝘢 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯 𝘴𝘵𝘢𝘳𝘵𝘦𝘥.

Think your deposit is refundable? Not so fast… 😬 It all comes down to your contract. If there’s no contract, things get messy. If there is, the terms decide when (or if) you get your money back. Know your rights before you pay up! 💸⚖️

You Can't Take It With You... I had an interesting discussion this morning with a business owner who had gotten some strange business advice. He had moved his business from New York to another state (that doesn't allow for domestication), and he used an online legal document service to help him dissolve the New York LLC and open the new one. The problem? The website didn't provide guidance on an important issue, and the business owner had simply taken the EIN number from his NY LLC and plugged that into the LLC in the new state. He thought everything was fine until his accountant told him at tax time that he had a big problem. You see, when you dissolve an LLC, that EIN is forever tied to your old LLC. It’s like a Social Security number for your business. Each new business requires its own EIN, and this business owner was going to end up on the IRS' radar if he tried to file tax returns for the new LLC using the old LLC's EIN. The good news? He realized his mistake before it was too late, and he's now got an accounting and legal team working with him to get everything back on track. ~~~~~~~~~~ 𝘐 𝘩𝘦𝘭𝘱 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘰𝘸𝘯𝘦𝘳𝘴 𝘱𝘳𝘰𝘵𝘦𝘤𝘵 𝘵𝘩𝘦𝘪𝘳 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘱𝘭𝘢𝘯𝘯𝘪𝘯𝘨 𝘢𝘯𝘥 𝘱𝘳𝘰𝘢𝘤𝘵𝘪𝘷𝘦 𝘭𝘦𝘨𝘢𝘭 𝘵𝘢𝘤𝘵𝘪𝘤𝘴. 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘬𝘯𝘰𝘸 𝘸𝘩𝘢𝘵 𝘵𝘩𝘢𝘵 𝘭𝘰𝘰𝘬𝘴 𝘭𝘪𝘬𝘦 𝘧𝘰𝘳 𝘺𝘰𝘶? 𝘋𝘔 𝘮𝘦, 𝘢𝘯𝘥 𝘸𝘦 𝘸𝘪𝘭𝘭 𝘨𝘦𝘵 𝘢 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯 𝘴𝘵𝘢𝘳𝘵𝘦𝘥.

Loaning money to family can get messy—especially without a contract. If you're struggling to get repaid, here’s what you need to know before taking legal action. Plus, a crucial tip to avoid this problem in the future! 💰⚖️

If your sibling passes away, do you automatically inherit their share of a house? 🤔 It all depends on how the property was owned. Right of survivorship? You get full ownership. Tenancy in common? Their share follows their will—or the court decides. Make sure you know what applies to you! 🏡⚖️

Start With a 30,000 Foot View, and Then Dial Into the Details When it comes to your estate plan, it’s easy to get caught up in the minute details. You'll be deciding things like who should be your healthcare agent, how should that one bank account be titled, or should your trust have a specific clause for that family cabin? These details matter — a lot. But they can also cause analysis paralysis if you focus only on the trees and miss the forest. Sometimes, the most important thing you can do is take a step back and look at things from the proverbial 30,000 foot view: * Do your documents reflect your values? * Are your goals clear? * Will your plan actually work in the real world when your family needs it most? Estate planning isn’t just about drafting documents — it’s about designing a legacy that makes sense from 30,000 feet. And you don’t have to do it alone. Your estate planning attorney helps you zoom out, strategize, and align the details with your big-picture goals. If it’s been a while since you looked at your estate plan from a higher level, now’s the perfect time to revisit it — with the right guidance by your side. ~~~~~~~~~~ 𝘐 𝘩𝘦𝘭𝘱 𝘧𝘢𝘮𝘪𝘭𝘪𝘦𝘴 𝘤𝘳𝘢𝘧𝘵 𝘵𝘩𝘦𝘪𝘳 𝘭𝘦𝘨𝘢𝘤𝘪𝘦𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘦𝘴𝘵𝘢𝘵𝘦 𝘱𝘭𝘢𝘯𝘴 𝘥𝘦𝘴𝘪𝘨𝘯𝘦𝘥 𝘵𝘰 𝘱𝘳𝘰𝘵𝘦𝘤𝘵 𝘵𝘩𝘦𝘮 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘢𝘳𝘣𝘪𝘵𝘳𝘢𝘳𝘺 𝘳𝘦𝘲𝘶𝘪𝘳𝘦𝘮𝘦𝘯𝘵𝘴 𝘰𝘧 𝘵𝘩𝘦𝘪𝘳 𝘭𝘰𝘤𝘢𝘭 𝘱𝘳𝘰𝘣𝘢𝘵𝘦 𝘭𝘢𝘸𝘴. 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘬𝘯𝘰𝘸 𝘸𝘩𝘢𝘵 𝘵𝘩𝘢𝘵 𝘭𝘰𝘰𝘬𝘴 𝘭𝘪𝘬𝘦 𝘧𝘰𝘳 𝘺𝘰𝘶? 𝘋𝘔 𝘮𝘦, 𝘢𝘯𝘥 𝘸𝘦 𝘸𝘪𝘭𝘭 𝘨𝘦𝘵 𝘢 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯 𝘴𝘵𝘢𝘳𝘵𝘦𝘥.

Full-time employee or Independent Contractor? When your business starts growing, this is often one of the first major inflection points you'll face. Both paths can lead to growth, but the requirements for each choice can be significantly different. If you make a mistake? You could be facing financial penalties, lawsuits, and audits by your state. So before you make the choice, here's a quick 4-point checklist for you: ☑️ Conduct your due diligence ☑️ Use a contract ☑️ Keep your documentation handy ☑️ Work with an attorney ~~~~~~~~~~ 𝘐 𝘩𝘦𝘭𝘱 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘰𝘸𝘯𝘦𝘳𝘴 𝘱𝘳𝘰𝘵𝘦𝘤𝘵 𝘵𝘩𝘦𝘪𝘳 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘱𝘭𝘢𝘯𝘯𝘪𝘯𝘨 𝘢𝘯𝘥 𝘱𝘳𝘰𝘢𝘤𝘵𝘪𝘷𝘦 𝘭𝘦𝘨𝘢𝘭 𝘵𝘢𝘤𝘵𝘪𝘤𝘴. 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘬𝘯𝘰𝘸 𝘸𝘩𝘢𝘵 𝘵𝘩𝘢𝘵 𝘭𝘰𝘰𝘬𝘴 𝘭𝘪𝘬𝘦 𝘧𝘰𝘳 𝘺𝘰𝘶? 𝘋𝘔 𝘮𝘦, 𝘢𝘯𝘥 𝘸𝘦 𝘸𝘪𝘭𝘭 𝘨𝘦𝘵 𝘢 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯 𝘴𝘵𝘢𝘳𝘵𝘦𝘥.

The weather's finally getting warmer here in Minnesota, and my Thursday morning got off to another great start with our INC Group meeting. For this month's meeting, we welcomed a new member and got to hear from Kristin Nordling about Lakeside HR Group and how they can partner with your business on a variety of different levels. Especially for businesses who are growing and don't have a formal HR department, Lakeside would be a great strategic partner to take that work off your plate. Our meetings are always something I look forward to because they are great, intentional networking meetings, not just a room full of lawyers. We've got folks from across all kinds of industries (financial advisors, real estate, accounting, business consultants, marketing, commercial real estate, mergers & acquisitions, just to name a few). 𝘌𝘷𝘦𝘳𝘺 6 𝘸𝘦𝘦𝘬𝘴 𝘰𝘳 𝘴𝘰 𝘸𝘦 𝘩𝘢𝘷𝘦 𝘵𝘩𝘦𝘴𝘦 𝘮𝘦𝘦𝘵𝘪𝘯𝘨𝘴 𝘢𝘯𝘥 𝘪𝘧 𝘺𝘰𝘶'𝘳𝘦 𝘪𝘯 𝘵𝘩𝘦 𝘔𝘪𝘯𝘯𝘦𝘢𝘱𝘰𝘭𝘪𝘴/𝘚𝘵. 𝘗𝘢𝘶𝘭 𝘢𝘳𝘦𝘢 𝘢𝘯𝘥 𝘢𝘳𝘦 𝘪𝘯𝘵𝘦𝘳𝘦𝘴𝘵𝘦𝘥 𝘪𝘯 𝘤𝘩𝘦𝘤𝘬𝘪𝘯𝘨 𝘪𝘵 𝘰𝘶𝘵, 𝘋𝘔 𝘮𝘦 𝘰𝘳 Tony Rubin 𝘢𝘯𝘥 𝘸𝘦'𝘭𝘭 𝘨𝘦𝘵 𝘵𝘩𝘢𝘵 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯 𝘴𝘵𝘢𝘳𝘵𝘦𝘥.

I'm Going to Stick With the Sports Pages This Morning... The rest of the paper has a lot of stories about tariffs and the stock market and, if your estate is at stake, you probably want a seatbelt to go with your morning coffee. Why does the stock market volatility affect your need for an estate plan? Market Shifts Affect Asset Values → Fluctuating stock prices can change your asset values overnight, and your estate plan should reflect these changes to ensure fair distribution. Protecting Your Loved Ones → Without a plan, market downturns can drastically affect the inheritance your family receives. An estate plan can provide a safety net. Tax Implications → Market volatility can lead to unexpected tax consequences, but a well-crafted estate plan can help minimize tax burdens. Avoiding Family Disputes → When asset values are unpredictable, misunderstandings can arise, so clear instructions in an estate plan reduce the risk of family disputes. Maintaining Control → Volatile markets can create uncertainty, but an estate plan allows you to maintain control over your assets despite market conditions. Flexibility and Adaptability → A dynamic estate plan adapts to market changes. Regular reviews with your financial advisor (your estate plan is more than just your will and trust) and attorney ensure your plan remains relevant and effective. Peace of Mind → Knowing you have a plan in place provides peace of mind in turbulent times. If you're inclined to dive into today's chaos, I've got 3 things for you to consider: 1. Review your estate plan annually. 2. Speak with your financial advisor and estate planning attorney to ensure your plan is current. 3. Discuss with your family to ensure everyone understands the plan. I'm going back to the sports pages and my iced coffee (the chaos will be there when I'm done with my recap of UConn's 12th national title...) ~~~~~~~~~~ 𝘐 𝘩𝘦𝘭𝘱 𝘧𝘢𝘮𝘪𝘭𝘪𝘦𝘴 𝘤𝘳𝘢𝘧𝘵 𝘵𝘩𝘦𝘪𝘳 𝘭𝘦𝘨𝘢𝘤𝘪𝘦𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘦𝘴𝘵𝘢𝘵𝘦 𝘱𝘭𝘢𝘯𝘴 𝘥𝘦𝘴𝘪𝘨𝘯𝘦𝘥 𝘵𝘰 𝘱𝘳𝘰𝘵𝘦𝘤𝘵 𝘵𝘩𝘦𝘮 𝘧𝘳𝘰𝘮 𝘵𝘩𝘦 𝘢𝘳𝘣𝘪𝘵𝘳𝘢𝘳𝘺 𝘳𝘦𝘲𝘶𝘪𝘳𝘦𝘮𝘦𝘯𝘵𝘴 𝘰𝘧 𝘵𝘩𝘦𝘪𝘳 𝘭𝘰𝘤𝘢𝘭 𝘱𝘳𝘰𝘣𝘢𝘵𝘦 𝘭𝘢𝘸𝘴. 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘬𝘯𝘰𝘸 𝘸𝘩𝘢𝘵 𝘵𝘩𝘢𝘵 𝘭𝘰𝘰𝘬𝘴 𝘭𝘪𝘬𝘦 𝘧𝘰𝘳 𝘺𝘰𝘶? 𝘋𝘔 𝘮𝘦, 𝘢𝘯𝘥 𝘸𝘦 𝘸𝘪𝘭𝘭 𝘨𝘦𝘵 𝘢 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯 𝘴𝘵𝘢𝘳𝘵𝘦𝘥.

What Happens When Your Business Partner Decides to Exit? Partnerships can be as rewarding as they are complex, but the departure of a partner can unsettle the entire structure and future of your business, often leading to disputes if not well-managed. Having a solid agreement in place is key, including provisions around: * Buyout terms * Valuation methods * Responsibilities during transitions. Being proactive with these documents ensures clear expectations and reduces the risk of litigation down the line. Without it? You could be facing years of litigation with the last person you ever thought it would happen with: Your Business Partner ~~~~~~~~~~ 𝘐 𝘩𝘦𝘭𝘱 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘰𝘸𝘯𝘦𝘳𝘴 𝘱𝘳𝘰𝘵𝘦𝘤𝘵 𝘵𝘩𝘦𝘪𝘳 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴𝘦𝘴 𝘵𝘩𝘳𝘰𝘶𝘨𝘩 𝘱𝘭𝘢𝘯𝘯𝘪𝘯𝘨 𝘢𝘯𝘥 𝘱𝘳𝘰𝘢𝘤𝘵𝘪𝘷𝘦 𝘭𝘦𝘨𝘢𝘭 𝘵𝘢𝘤𝘵𝘪𝘤𝘴. 𝘞𝘢𝘯𝘵 𝘵𝘰 𝘬𝘯𝘰𝘸 𝘸𝘩𝘢𝘵 𝘵𝘩𝘢𝘵 𝘭𝘰𝘰𝘬𝘴 𝘭𝘪𝘬𝘦 𝘧𝘰𝘳 𝘺𝘰𝘶? 𝘋𝘔 𝘮𝘦, 𝘢𝘯𝘥 𝘸𝘦 𝘸𝘪𝘭𝘭 𝘨𝘦𝘵 𝘢 𝘤𝘰𝘯𝘷𝘦𝘳𝘴𝘢𝘵𝘪𝘰𝘯 𝘴𝘵𝘢𝘳𝘵𝘦𝘥.