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January 2018 Archives

Your business and your family are intertwined

The one thing that is the same in every estate plan is that the person who created it put a lot of thought into who is going to get what. When you are the owner of a business, you really need to think hard about how you are going to set things up. While most people only have to think about how to benefit their family when they pass away, a business owner has to consider the future of the business. This can be a big challenge, but it is possible.

Breaking a commercial lease may bring penalties

When you signed the lease for the commercial property where you planned to run your business, you had no idea what the future would hold. Nevertheless, you committed to the terms of the lease and opened your business on the site. Now, sometime later, your situation has changed. Perhaps things didn't go as well as you hoped, and you have no choice but to close your business. It could also be that your business is thriving, and the Arizona commercial space you are leasing is no longer adequate.

Make short-term and long-term plans for your business

You have worked hard to grow your business, but you aren't going to be able to take it with you when you pass away. Instead, you need to ensure that you are making plans today that can set up the business in a way that will be able to help support your family if something does happen to you. As a responsible business owner and loving family member, you are probably thinking that you need to get something done right away to encourage everything to transfer over smoothly when you do pass away.

Is a limited partnership the best way to form your business?

Starting a business requires making a variety of decisions. One that could affect numerous aspects of it involves your choice of entity type. The legal structure under which you form your company dictates how you will deal with taxes, personal liability and other issues.

Breaking a contract can mean facing legal action

Signing a contract means that you are agreeing to the terms of contract. This means that you agree to keeping your end of the deal or you will have to comply with the penalties that are included in the contract. When a contract isn't complied with, either or both of the parties can file a legal claim in civil court for breach of contract.

Take action when there are issues with construction projects

Starting a construction project is a big endeavor. You have a lot to think about when you are in the midst of this process. It is imperative that you take the time to review the plans so that you can determine what you should expect throughout it.

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