Lawsuits are not fun and are definitely in no one's best interest. Most of us don't expect them to happen to us, but the truth is that many businesses face lawsuits every year. If your business is facing a lawsuit, here are the first steps you should take to start planning for the future. Learn more here:
Tracking your key metrics is essential to your success as a business, but between the lines and the graphs, it's easy to lose sight of what's coming. Why not make things easier by breaking down all those numbers into three vital but often overlooked metrics? Let's look at three metrics we recommend you track. Read here to learn more...
Know that no matter how poor or rich your parents are, they must have an estate plan in place because their affairs will affect you and become your responsibility if they become incapacitated or die. Their estate plan ensures that their assets will be distributed to their heirs according to their personal wishes, no matter how much or how little they can be. If you do not know whether or not your parents have an estate plan in place that will help you best support them, read on!
You might think only the wealthy need to worry about asset protection planning. But the truth is that if you don't have millions, you may be at even greater risk. For instance, if you're a multi-millionaire, a $50,000 judgment against you might not be that big of a deal. But it could be devastating for a family with a modest income, savings, and home. Before it's too late, learn the strategies you may use to safeguard your assets.
Regardless of what industry you're in, the reality of being a business owner is that you open yourself up to a number of unique risks that most people don't have to worry about—and the more successful your business is, the more risks you face. And because most business owners aren't fully aware of all the potential risks that can affect their company or the options available to protect their personal assets from the risks of doing business. This is where asset protection planning comes in.
If you are thinking of starting a business, you’ll find all sorts of advice about how to go about getting your new venture off the ground. Indeed, there are entire websites devoted to the topic. Yet, with so much information out there, it’s hard to know what you should heed and what you can ignore. To make things simple, we’ve compiled a list of six essential strategies for getting your new business up and running with the least amount of hassle and risk.
In today's highly litigious society, you are at near-constant risk for costly lawsuits—even if you've done nothing wrong. This is especially true if you have substantial wealth, but even those with relatively few assets. No matter how careful and responsible you may be, accidents happen all the time, and no one is immune to the threat of a potentially devastating lawsuit. For this reason, you should consider adding a maximum level of protection by investing in umbrella insurance.
When you're just starting your business, it's easy to lose sight of just how many potential risks your company faces. Yet a single accident or lawsuit can wipe out your company before it even can get off the ground. While setting up a business entity like an LLC or corporation can protect your personal assets from liabilities incurred by your business, it won't protect your business assets—that's where business insurance comes in.
Life insurance is a key component of your family’s estate plan, offering those who depend on you for their financial security a safety net in the event of your death. Whether those dependents include your spouse, children, aging parents, business associates, or all of the above, investing in life insurance is a way to say “I love you” and make certain that when you pass away, the people you love will have a reliable source of financial support to count on.
Business growth is a dream that sparkles in the eyes of many small business owners. But bigger is only better when your business is set up to support the life you want. However, bigger is not necessarily better. It will become best if your business supports you in having a life you love, with an income to match, and providing services or products you're proud to deliver. So, how do you get there for sustainable success in 2022 and beyond? Let's take a look here!