These are just a few reasons why it is important for you to know the following about estate planning:   

Minor children can be legally protected with a Kids Protection Plan, which provides parents with important legal tools to name short- and long-term guardians, provide instructions and guidelines for those guardians and execute medical powers of attorney that allow you to dictate medical care for your minor children in case they are injured and you are not with them.

A will and a living trust are both essential estate planning tools, and although both can be used to transfer assets upon death, they serve separate purposes.  A living trust can take effect while you are alive or after death.  It allows you to hold assets for your benefit during your life, which may prove useful if you become incapacitated in the future. A living will can also be beneficial if you own real estate in another state. A will only takes effect upon death, and is used to appoint guardians for minor children, cover assets that are not part of a living trust and create trusts that kick in after death.

Women need to execute financial and healthcare durable powers of attorney and consider choosing a member of the family if that person is willing to assume the responsibility of making financial and/or medical decisions on your behalf in case of incapacity. And, if you are married or partnered, make sure your spouse or partner does the same because you’ll be the one who is handling things if anything happens to your spouse/partner and you want it to be as easy as possible.

Yet, a staggering 75% of employers admit to hiring the wrong person, and the consequences extend far beyond just finances. A bad hire also drains your time, energy, and attention, significantly decreasing your team's productivity and morale.

Understanding and preventing these costs isn't just smart business; it's essential for survival in today's competitive landscape. Let's explore why bad hires occur, what they truly cost your business, and how you can build robust systems that protect your investment and support your growth.

The Real Financial Impact of Hiring Mistakes
Bad hires don't just cost a little; they can cost your business thousands. According to a CareerBuilder survey, the average bad hire costs approximately $17,000. These costs accumulate in often unanticipated ways. Consider the recruitment expenses alone: job postings, background checks, and the countless hours you and your team spend interviewing. That investment effectively doubles when you have to restart the hiring process. 

Today, I’m addressing the final three mistakes that can be devastating to your business: Poor insurance planning, sloppy record-keeping, and co-mingled finances. These issues have brought down countless successful companies. The entrepreneurs who suffered these failures weren't incompetent—they simply didn't realize how these seemingly minor oversights could create major vulnerabilities.

What makes these final three mistakes particularly dangerous is that they often don't cause immediate problems. You can operate for months or even years without proper insurance, disorganized records, or mixed finances before facing serious consequences. This creates a false sense of security that can lull business owners into complacency and inaction. When problems do arise from these oversights, they compound quickly and create cascading effects throughout your business.

The good news is that most legal disasters are entirely preventable when you know what to watch for and take proactive steps to protect your business. In this two-part series, I’ll break down seven of the most common legal mistakes that could destroy your business and provide you with practical strategies to avoid each one. Today, we're focusing on the first four critical mistakes that every business owner needs to know.

Mistake #1: Operating Without Proper Contracts 

One of the most dangerous assumptions business owners make is that verbal agreements and handshake deals are sufficient for conducting business. I get it. You're busy and don't want to slow things down by finding a lawyer to draft proper contracts. While a handshake may seem like a way to move quickly and feel more personal, it creates enormous legal vulnerabilities that could cost you everything.

But as the pace of AI adoption accelerates, so do the risks. If you're a business owner, you may be wondering: Should I be using AI? Can it really replace human input? What are the hidden dangers—and how do I stay ahead without losing what makes my business unique?

As a Personal Family Lawyer®, I work with business owners like you to help them not only keep up with change—but also lead with intention, clarity, and a human-centered strategy. Here’s what you need to know right now to use AI wisely, protect your business, and stay ahead without losing the very thing that makes your company great: you.

What AI Is Good At

 
Let’s start with the good news: AI can be incredibly useful when applied to the right tasks.