One of the most important lessons you can teach your kids is financial literacy - helping them understand not just the value of properly managing their money but also understanding your family's situation and the importance of wealth preservation. It is a gift you can give that lasts a lifetime. In today's generation, money is still not a typical dinner table discussion in many affluent and working-class families, but we think it should be. Read here to learn more.
As a business owner, one of your top priorities is to maneuver your business away from creditors' claims, litigation, and other factors that can put your business at risk. The protection and preservation of the wealth you create as an entrepreneur doesn't just happen on its own. It involves strategic planning and intentional execution - which a lot of entrepreneurs fail to focus and execute. To help you protect your wealth & assets, here are a few strategies you can use and include in your plan.
With all of the media about "digital wills" and "online estate planning nowadays", it is really tempting to think that you can do your estate planning yourself, online, for a single reason - to reduce cost. Your reasons may be good but may not go well with your intentions towards your family as online estate planning can be a big trap and may leave your family and assets at risk - worse off than if you had done nothing at all. Read here to know why and how to do it the right way.
As the pandemic continues to impact businesses around the world and as public authorities continue to respond to the ever-evolving challenges of this pandemic, the legal risks surrounding the decisions you make increase - your usual business practices will likely be disrupted and recordkeeping may not always be in front of mind. Recordkeeping responsibilities remain as important as ever so be prepared and don't forget to comply with authorities to avoid potential legal risks.
Savvy business owners recognize the value of contracts but often explore ways to reduce the cost of obtaining them by creating their own contracts using DIY templates available online. This DIY method has become a mantra these days as it can be a great way to save money, however, this method costs more in the long run and is even risky, especially if it is a legal document like a contract. What you do not know can, in fact, hurt you, and the following are examples of the potential risks you face
Right now, huge numbers of people, of various age groups, are facing the reality of mortality due to the global pandemic. Thinking about this situation that may affect us anytime, many of us are courageously taking this as an opportunity to learn what we need to do for the people we love and the assets we've worked hard for. Proper estate planning can keep our family out of court and conflict, and this article will show you the right tools to make sure everything is in place to do the right thin
Uncertainty and unrest have defined 2020 from every aspect of life. Business owners have faced significant challenges to their survival and success and yet more than anything, this period of uncertainty and unrest provides the opportunity to display courageous leadership as a business owner. Courageous leadership to navigate decisions with care, stay informed, communicate plans, and to take tangible steps to move your business forward.
An emergency can happen at any time and at any place, and the scene can be overwhelming, terrifying, and at least, confusing. When facing life-threatening emergencies, there isn’t much time to think. You must be prepared to act and act fast, which is why you should be prepared beforehand. Here is a basic summary of the most-recommended supplies to give you some idea of what items you should have ready to go in case you need to get out of your home within minutes.
Most people believe that having an estate plan simply means drafting a will or a trust. Both wills and trusts are estate planning documents that can be used to pass your wealth and property, however, there is much more to include in your estate plan to make certain your family members access or control your assets should you become unable to do so yourself, and that all of your assets are transferred seamlessly to your heirs upon your death. Here are a few reasons to consider adding a trust to y
What the Coronavirus pandemic has brought us is battles toward staying healthy and sane when stuck at home and protecting our business to be fully operational in the midst of the crisis. Many business owners are now facing the tough decision of whether to persevere and keep their business going or to close it all down and walk away. If you are asking yourself this question right now, here are some things to consider before going down the bankruptcy road.