Generative AI contract management and drafting tools are increasingly accessible and widespread, and many companies are experimenting with these tools to draft full legal agreements. For start-ups and businesses with limited resources, the appeal is obvious: AI can produce contracts quickly and at a fraction of the cost of traditional legal drafting. What once may have required days of attorney time and high legal fees can now theoretically be generated in minutes with a simp

Operating your business out of state can be an enormous step forward in growth potential. There are some tricks and traps, however, to shifting over to another state. Step One: Determine What Constitutes “Doing Business” in Another Jurisdiction Generally, conducting business involves: Having a physical presence like an office, store or warehouse whether owning or leasing; Having employees who work in the new jurisdiction; and or Selling or providing services within the stat

When your home is paid for, your investment accounts are pumped up, and your debts are gone, your future is safe, right? Not necessarily… Now, it might be time to think about succession and asset protection. Easy come, Easy go? No! Most property owners have very limited protection in place against even the standard threats. These might include personal injury attorneys, litigants, fraudsters, regulators, taxing authorities, business rivals, and even unprincipled family member

It's an icon! Most closely-held businesses reach a point when selling full or partial ownership becomes a desire or even an absolute necessity. But what are the steps and considerations from “we need to sell” to the closing process…and even beyond? Step One: Getting Your House in Order. Do you have a company records book and is it up to date? How about your financials? One initial point of consideration is determining exactly what is being sold, whether it includes some or a

An LLC is a legally formed business entity, and there is risk in leaving it just languishing. An “inactive” LLC is a business entity that has ceased its primary business operations. This usually means it is no longer generating revenue, conducting transactions, or engaging in the commercial activities it used to. Though it might be non-functioning, from a legal and regulatory standpoint, the LLC still exists until it is formally dissolved. Why continue to get unnecessary pape

IRC Section 1031 allows sellers of qualifying real estate to exchange it for like-kind real estate and defer payment of taxes. Don't Go It Alone! THE RULES ARE STRICT: 1. Seller must never take possession of funds from the relinquished property; 2. Replacement property must be like-kind real estate; 3. Real estate must be used for investment or business, and not be considered stock in trade or personal property; 4. Property replaced must be of equal or

Planning ahead is just prudent! Estate planning isn’t only about distributing your house to your heirs. If you own a business, it is also about protecting this most valuable asset. Without proper planning, issues will arise regarding who will take over leadership, whether the business should be sold, or how ownership interests will be managed. Failure to account for these crucial steps can result in the loss of the business or a loss of significant portions of its value. Ther

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Don't let debt slow you down! I grew up in New England, and sailing in the Long Island Sound and along the rocky northern coast is among...

Theresa (Terri) Marie Schindler married Michael Schiavo in 1984. When Terri’s parents moved to Florida in 1986, the couple followed....

This blog discusses the difference between chaos or unstructured asset pools and alternatively establishing highly structured approaches...

"That might work!!!" Many small businesses entrepreneurs have great ideas and the energy to reach out and start, but what comes next?...

Inflation: It's going up again! Rising inflation can be terrifying. In the face of it, safeguarding the value of your hard-earned money...

Don't just lock the door... If you’re considering closing your business, it’s crucial to understand that simply shutting your doors does...

Is a trust for me? Here are some of the most common misconceptions about trusts: § Trusts are only for the wealthy… Trusts are not...

How soon can I get my inheritance? Here are some of the most common questions people have about probate in Idaho and Utah: 1. What is...