The DIY approach might be a good idea if you're looking to build a new deck for your backyard, but when it comes to estate planning, it's actually one of the worst choices you can make. Are you really willing to put your family's well-being and wealth at risk just to save a few bucks? Don't wait that these mistakes won't be discovered until you're gone. Here, we wrap up the list with the remaining five mistakes your family can't afford to make.
Because estate planning involves actively thinking about and planning for frightening topics like death, old age, and crippling disability, many people put it off or ignore it together until it’s too late. Sadly, this unwillingness to face reality often creates serious hardship, expense, and trauma for those loved ones you leave behind, especially since estate planning is definitely not a one-size-fits-all endeavor.
Your business is your masterpiece. You have spared no effort in making it a reality right from the beginning when it was just an idea. You have given sweat and tears to make it grow and thrive, sticking with it and braving the hardest times. While a business is practically immortal, we humans are not. Plus, the business environment has always been unpredictable, even more so during this time of the pandemic. How do you ensure your business lives on among and despite immense uncertainties?
One way or another, every business owner has to arrive at a difficult decision of letting employees go. Employers and employees have many reasons for parting ways, but termination is never a desirable outcome for both parties. If not handled correctly, this may give rise to expensive lawsuits and public scandal. Here are some effective practices to consider to reduce termination-related risks.
Trademarks give the business its identity. They literally “mark" everything related to the business from its products, letterheads, processes, facilities, and more. But with company logos and taglines flooding the Internet for marketing, it is very easy for a trademark to fall into the wrong hands. At first, it may cause only confusion for your customers but it might bring a pile of expensive lawsuits later. Protect your business now by developing relevant and updated trademark strategies.
2020 has set unprecedented variables in business with the advent of COVID-19. You will never know what could go wrong at any given moment. It is possible for your business to be completely swept away by the pandemic without means of protection. One of these means is having comprehensive insurance coverage. This can cover almost anything from properties, professional services, computer systems, business and employment practices and more.
Advanced health care planning is an ideal way to prepare for the future. Being unable to relay your healthcare instructions in the event of death or incapacity will be an added emotional burden to your already distressed loved ones. With the current pandemic overloading hospitals everywhere, it becomes more urgent to put your documents in place before it is too late. Find out what other directives to include in your plan to expedite the decision-making process and to ensure your family’s safety.
The CARES Act is a trillion-dollar program that provides direct economic assistance to workers, families, and small businesses. It is free money from the government that will hopefully relieve citizens of some of the financial strains brought about by the COVID-19 crisis. Qualified individuals will be given money thru direct deposit while business owners can apply for loans. Here’s everything you need to know to make the most out of this new law.
The world is still shaking from the colossal impact of COVID-19 especially in the health sector. Now is a high time for you and for the family to make informed decisions regarding your health care needs. From the basics of a medical power of attorney to the intricacies of living will, here's what you need to know about advanced healthcare planning.
Even multimillionaires are not immune to an oversight in designating their heirs. One prominent example is Kobe Bryant whose legal team failed to list his youngest daughter in the family trust. And though they can easily correct this, it's not the same for everyone. Hefty legal costs and lengthy proceedings can have a tremendous financial impact on your family.