When you start a business, you have a lot of important decisions to make. And one of those is whether or not to take on a partner. A business partnership can be a great way to grow your business and tap into new resources, but it's not suitable for everyone. Here are...
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Are your adult children ready to take over the family business?
Your family business was passed on to you by the previous generation, and your intention is to follow this trend. You’re reaching retirement age now and it’s time to think about the future. You aren’t always going to be physically able to cope with the strain of...
2 reasons your will can be invalidated
It’s natural to want to leave something behind for the people and causes you care about when you die. To do so, however, you need to articulate your wishes in writing. And one of the most effective estate planning tools you can use to achieve this is a will. ...
Estate planning: A trust can help preserve your family’s wealth
You have probably thought about what will happen to your estate when you are gone. Will your heirs mismanage their inheritance? Will future generations benefit from the family wealth? You may want to consider including a trust in your estate plans if you have such...
How do commercial landlords price leases?
As with many things regarding commercial property, lease pricing is more complicated than that used for residential property. Commercial landlords can choose from one of several ways to price their premises. Not only can that make comparing the price of different...
3 tips for resolving partnership disputes
People who go into business together usually start out with a shared vision for the company. This is usually the driving force for them. As time progresses, that shared vision might become a source of contention when they don’t see eye-to-eye about something that’s...
3 things to know about an irrevocable trust
Adults should have a comprehensive estate plan in place so their loved ones can follow their wishes when they die. Most people have a will written out as part of the estate plan. For those who have considerable assets, a trust might be in order. When you’re ready to...
Include a title review in your commercial property purchase
After a long search for the right commercial property, you’ve finally found one to purchase. You have already met the seller, agreed on the price and terms and acquired a preliminary title report. After a quick scan, you determine the exceptions listed on the title...
Can you incentivize someone through your estate plan?
If you have considerable wealth, you might worry about its effect on your kids. You might feel they lack some of the hunger for success that drove you forward at their age. You may have read about the uber-rich giving most of their money to charity and leaving only a ...
Cutting costs in your new business
You took the plunge some time ago and started your new business. So far, it’s going well but there is still plenty of room for improvement. Something you’re aiming to do is cut down on your costs. Which areas might be best to start with? Where are you based? When...