protecting youre assets
Once we assess the type of assets you own through our Family Wealth Worksheet questionnaire, we will better understand your specific risk factors and the level of protection you desire.
We assist our clients in determining the appropriate level of asset protection planning for their particular circumstances.
We consider:
- Insurance
- Prenuptial Agreements
- Asset Segregation
- Choice of Jurisdiction
- Gifting
- LLCs, partnerships, corporations, and asset protection trusts
If you have a business, it is necessary to review how it is set up. Our Small Business Legal Audit is a key first step.
Customized combinations are layered depending on your needs. There are many different strategies to accomplish the protection of your assets while you are alive and after you are gone.
Contact us at (650) 761-0992 for a Family Wealth Planning Session™ or book an appointment online now to find out which strategies may be right for you.
Tips for Keeping it all Safe
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Business Owner Burnout: Legal and Financial Strategies to Protect Your Company When You Need a Break
Many entrepreneurs pride themselves on their resilience and drive, often working tirelessly to build their businesses from the ground up. However, this relentless pace can lead to burnout, a state of emotional, physical, and mental exhaustion that can jeopardize both your health and your business.
Business owner burnout is a common yet often overlooked risk to business continuity that affects entrepreneurs across all industries and company sizes.
In this blog article, I'll explore how business burnout manifests, the legal and financial strategies you can implement to protect your company when you need to step back, and how to create systems that allow your business to thrive even during your absence.
RECOGNIZING THE SIGNS
Business owner burnout doesn't happen overnight. It creeps in gradually, often disguised as dedication or a necessary sacrifice for success. The first step in protecting your business from the effects of burnout is recognizing when you're approaching your limits.
Common signs include persistent fatigue even after rest, increasing cynicism about your business, difficulty concentrating on tasks, decreased productivity despite working longer hours, and withdrawal from responsibilities. You might also notice physical symptoms like headaches, changes in sleep patterns, or frequent illness.
Creating Compliant HR Systems and Avoiding Costly Employment Law Mistakes
As a business owner, you're juggling countless responsibilities daily. Between managing operations, driving sales, and planning for growth, HR compliance might fall to the bottom of your priority list. However, neglecting your HR systems can lead to expensive legal issues that could derail your business success.
In this blog article, I'll explore how implementing compliant HR systems can protect your company from costly mistakes while creating a positive work environment.
THE HIDDEN COSTS OF HR COMPLIANCE FAILURES
Many business owners don't realize the significant financial risks associated with poor HR practices until it's too late. According to the U.S. Equal Employment Opportunity Commission’s 2023 Performance Report, the agency secured more than $665 million in monetary relief for more than 22,000 victims of employment discrimination. For small and medium-sized businesses, a single lawsuit can threaten your company's financial stability.
Beyond direct legal costs, non-compliance creates other expenses that impact your bottom line. On average, turnover costs represent 39.6 percent of a position’s annual wage. Additionally, productivity losses and damage to your company's reputation can have lasting effects on your business success.
Succession Planning for Small Business Owners: Starting the Conversation You've Been Avoiding
Most business owners spend years building their companies with dedication, sacrifice, and endless hours of hard work. You've likely poured your heart and soul into creating something meaningful that provides for your family and contributes to your community.
But there's an important question many business owners avoid: what happens to your business when you're no longer able to run it?
Succession planning is often the conversation business owners postpone until tomorrow – a tomorrow that sometimes never comes. Whether due to unexpected illness, retirement, or other life circumstances, having a clear succession plan isn't just good business practice; it's essential protection for everything you've built. In this article, I'll explore why succession planning matters, the costs of avoidance, and practical steps to begin this critical conversation.
WHY SUCCESSION PLANNING GETS PUSHED TO THE BACK BURNER
Before diving into the how-to, let's acknowledge why succession planning often gets delayed. Understanding these psychological barriers can help you overcome them.
How to Bulletproof Your Business Against Economic Uncertainty
In today's market, business owners face unprecedented challenges from inflation, supply chain disruptions, and shifting consumer behaviors. The economic landscape can change rapidly, leaving unprepared businesses vulnerable to significant losses or even failure.
However, with strategic planning and robust systems in place, you can fortify your business to withstand financial storms and emerge stronger on the other side. Let's explore proven strategies to protect your business against economic uncertainty and ensure its long-term sustainability.
BUILDING A FINANCIAL FORTRESS
A solid financial structure is the foundation of any resilient business. Yet, many business owners make the mistake of focusing exclusively on growth before they have a solid financial system in place. To build this foundation properly, you must start with a clear picture of where you currently stand.
Start by conducting a thorough assessment of your current financial position. This includes understanding your cash flow patterns, identifying your most profitable products or services, and recognizing which expenses are truly essential. With this knowledge, you can develop a realistic budget that allows for both growth opportunities and necessary safety measures.
How to Safeguard Your Business from Your Business Partner’s Divorce
Most business partnerships begin with shared goals and optimism. But life happens, and personal matters—especially divorce—can create ripple effects that threaten your company’s financial stability, leadership continuity, and future. If you’re in business with a partner, their divorce isn’t just their personal issue; it could become your business’s problem, too.
What types of problems could be lurking around the corner? Some may include disruptions to your daily operations, ownership disputes, and even financial loss. But by taking proactive steps, you can shield your business from these risks and ensure that personal life changes don’t derail your company’s success.
THE HIDDEN BUSINESS RISKS OF A PARTNER’S DIVORCE
A partner’s divorce can have serious consequences for your company, many of which business owners don’t anticipate until it’s too late.
Here’s how:
Ownership Disputes & Forced Buyouts. In many states, business interests are considered marital property, which means a divorcing spouse may be entitled to part of your partner’s ownership stake. This could force the sale of company shares or require a buyout that could strain financial resources.