We Help Entrepreneurs and Families 

Keep the Skies Clear and the Future Bright

Sky Unlimited Legal Advisory offers you the perfect combination of trusted advisor, problem solver, keeper of secrets and deep listener

 

Our attorneys are specifically trained to help you keep more money in your business and personal accounts, watch out for pitfalls, handle sticky situations (ideally before they even get sticky) and effectively tend to the parts of your business that are especially challenging.

 

At the same time, we work as your trusted advisor who helps you make the very best personal, financial, legal, and business decisions for your family throughout your lifetime.

  

You always said you wanted someone who could do all “that” stuff - the tasks that you’d rather not handle.

 

That's precisely where we step in - protecting your business and your family!



Notes from Our Chief Counsel's Desk


10 Small Business Tax Moves to Make the Second Half of the Year - Part 1

As a small business owner, you know that managing your finances strategically is crucial to your success. With the second half of 2024 underway, now is a great time to focus on the thing no one likes to talk about but can make a huge difference to your bottom line: taxes.

I know it’s not even close to tax season, but hear me out. Strategic tax planning affects your bottom line by helping you maximize deductions and minimize your tax liability. So, thinking about these strategies now gives you plenty of time to take action rather than scrambling in December (or worse yet, next March) when it may be too late. Trust me. Your future self will thank you.

 

This is the first article of a 2-part series, so my apologies if you get so excited by the time you get to the end of this article that you’re bummed you have to wait another week to finish it (hey, it could happen). In that case, spend the time between now and next week exploring the suggestions I’ve outlined here. That should tide you over. Moreover, I wouldn’t be a lawyer if I didn’t give you a disclaimer (or use the word “moreover”): this article contains general information for small business owners and is not tax or legal advice. Always consult an expert who can determine which tax strategies are best for your business and ensure you implement them correctly. 

 

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Celebrity Estate Plans Series Part 2 of 4: Vanilla Ice Has Thoughts

This week, we’re continuing to look at the lives of 4 celebrities and how they’re preparing for the inevitable (or didn’t!). Last week, we examined Michael Jackson’s planning and the holes in his plan that resulted in his family being embroiled in court and conflict for 15 years and counting (if you missed it, go back and check it out!).

In this second blog article of our 4-part celebrity series, Vanilla Ice chimes in with his estate planning experience, advice, and lessons learned on a video he posted to his YouTube channel. He has a lot to say! I’ll share some comments users posted with their takeaways, and I’ll pull out a few lessons that we can learn, too.

 

Let’s start with a topic no one likes to talk about: taxes. 

 

Vanilla Ice (Really) Hates Estate Taxes

Vanilla Ice shares the story of his buddy Mark, whose parents owned a sprawling property in Palm Beach, Florida. When they passed, Mark and his siblings sold the estate, expecting to be set for life. But estate taxes ended up taking over 80% of their profit. Ouch.

 

Vanilla Ice calls this tax a "generational wealth killer," and he’s not wrong. Estate taxes can sneak up and bite a huge chunk out of your wealth. And the thing is, with a proper estate plan, this doesn’t have to happen! The key is to educate yourself. Knowing what you’re up against helps you plan smarter so that more of your hard-earned assets reach your heirs. 

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Turn Social Media Criticism into Business Opportunity - Part 1

As a small business owner, navigating the world of social media reviews can be daunting. A single negative review can feel like a personal attack and a potential threat to your brand’s reputation.

However, handling these reviews with grace and strategy - as well as the support of a trusted advisor - can actually strengthen your brand and demonstrate your commitment to excellent customer service. 

 

In this two-part series, I’ll walk you through 10 effective strategies to protect your business from the impact of public negative feedback.

 

This week we’ll look at the first 5 strategies.

 

Strategy 1: Stay Calm and Assess the Situation

Most likely, reading negative feedback on social media will rattle you and you’ll feel it in your body. But it’s important to stay calm. This is not to say that your emotional response isn’t valid; it certainly is. It’s easy to take negative reviews personally, especially when you’ve put your heart and soul into your business. So if you need time to process the emotions, take the time. 

 

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Celebrity Estate Plans Series Part 1 of 4: Michael Jackson

What is it about celebrities that always draws us in? For whatever reason, we just can’t resist a good, juicy celebrity story. Maybe it’s because we can relate in some way, or maybe we feel like we can’t relate and that’s what makes celebrities interesting.

Their lives always seem attractive but somehow… just out of reach. 

 

So for the next few weeks, we’re going to look at the lives of 4 celebrities and see what we can learn from their stories. I think you’ll be surprised to learn that you have more in common with these folks than you thought (even if you don’t also have your own private jet).

 

This week, we’re going to turn the spotlight on Michael Jackson. Even if you aren’t old enough to “Remember the Time” when Michael Jackson was dominating the charts, by the end of this article, you’ll see that he left holes in his estate plan that we can learn from.

 

Before we get started, however, I want to address the elephant in the room: many people, maybe you’re included, find Michael Jackson’s personal life and choices… concerning. That is completely understandable. The intent of this piece is not to defend or promote him in any way. Rather, this article’s focus is on his family and what they’ve endured in the court system for the last 15 years.

 

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Become a Stronger Leader Through Self-Awareness

As a small business owner, you wear many hats and juggle countless responsibilities every single day. From managing employees to handling finances to keeping customers happy, strong leadership is critical to your company's success. But what makes a truly effective leader?

While there are many qualities that great leaders possess, one that is often overlooked is self-awareness. Having an in-depth understanding of your own strengths, weaknesses, communication styles and natural tendencies can help you maximize your potential and unlock your ability to inspire and motivate others. 

 

Two tools that can provide you with invaluable self-knowledge are the DISC  assessment and the Kolbe assessment. In this article, we’ll break each one down so you’ll gain an understanding of how you can use these self-awareness tools to improve your leadership skills. Let’s start with the DISC assessment. 

 

The DISC Assessment: Understanding Your Communication Style

The DISC assessment helps you understand your behavioral styles and preferences. It is based on the work of psychologist William Marston, who categorized behavior into four main styles: Dominance, Influence, Steadiness, and Conscientiousness. The assessment is typically taken online and consists of a series of questions that ask you to choose statements that best describe your behaviors in various situations.

 

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