Whether it's your very first or your fifth company, if you're looking to start a new business venture, you have two options: 1) build your own from scratch or 2) buy an existing one. And while many entrepreneurs dream of building their own company from the ground up, the reality is, launching a b...
If you have started to save for your child or grandchild's college education, it's worth considering whether to use a 529 plan, an education savings account, or an Irrevocable Trust. Here's what we think you should consider as you decide: First, consider whether you want your offspring to have ...
If you are thinking about hiring a lawyer to help with your business, you may be wondering why you should work with us, your Family Business Lawyer™ rather than a “traditional” business lawyer. What makes us so different from other lawyers? The best way to explain how Family Business Lawyer™ firm...
If you have started to save for your child or grandchild's college education, it's worth considering whether to use a 529 plan, an education savings account, or an Irrevocable Trust. Here's what we think you should consider as you decide: First, consider whether you want your offspring to have ...
Using independent contractors (ICs) can give your company an edge in today's thriving gig economy, but if you are not careful, contractors can also be a serious liability. In fact, working with ICs comes with a number of unique legal and financial risks that can be potentially ruinous to your bus...
If you dream of one day leaving your company to your family, but you haven't properly included your business in your estate plan, that dream could become a nightmare for your heirs—and for your partners, team members, and clients, too. In fact, properly planning for what would happen to your busi...
There are numerous advantages to running your own business: being your own boss, setting your own hours, and getting to decide who you work with and what you work on. However, business ownership can also be one of the most stressful endeavors you'll ever undertake in your life. While running your...
If you are thinking of starting a business, you'll find all sorts of advice about how to go about getting your new venture off the ground. Indeed, there are entire websites devoted to the topic. Yet, with so much information out there, it's hard to know what you should heed and what you can ignor...
Do you feel obligated to check work emails, texts, and voicemails at all hours? Do you often work evenings, weekends, and holidays, even after you promised yourself you wouldn't? Do you feel pressured to say yes to pushy clients because it's easier than saying no? Do you feel resentful of clients...
When creating an estate plan, people are often most concerned with passing on the “big things” like real estate, bank accounts, and vehicles. Yet these possessions very often aren't the items that have the most meaning for the loved ones we leave behind. Smaller items, like family heirlooms and k...
Elder abuse can take a wide variety of forms, but we think the worst of the worst is caused by unscrupulous adult guardians appointed by a court to care for seniors who are no longer able to care for themselves. And though you may not want to believe such a thing could happen, you need to know th...
As we head into summer, many parents will see their children graduate high school and prepare to leave home to attend college or pursue other life goals. This can be an exciting and emotional time, and with so much going on, estate planning probably isn't at the front of your (or their) mind righ...
Protect Your Children's Inheritance With A Lifetime Asset Protection Trust As a parent, you're likely hoping to leave your children an inheritance. In fact, doing so may be one of the primary factors motivating your life's work. But without taking the proper precautions, the wealth you pass on is...
The Legal Issues Involved With Developing A Mobile App Along with websites, e-newsletters, and social media, in today's digital-everything world, many companies now have their own mobile apps. In fact, some companies' primary digital platform is their mobile app. And as smartphones, iPads, e-tabl...
Your Risk of Litigation Unfortunately, we live in a litigious society. And if your small business is in the US, the odds of you being sued are high. About 40 million lawsuits are filed every year in the US, forcing businesses to spend more than $22 billion in commercial litigation costs. Walmar...
Happy Holidays! I hope you are all finding time to celebrate with friends and family this holiday season. It has been a tough year, with all of us getting our hopes up that Covid was on the way out this summer, only to be brought back down to reality as fall approached. I'm grateful fo...
Starting your own business is exciting! And it's not just about the money. You get to follow your passion, control your schedule, achieve financial independence, and share your unique product or service with the world. Whether you start your business on a shoestring or have millions in venture ca...
Choosing the correct entity for your new company will be one of the most critical business decisions you will make. Should your business be run as a corporation, an LLC, a partnership or something else? What are the differences, and which one will work best for you? While owners and businesses ar...
Business Basics Series: The Importance of Succession Planning and Valuation Prior to Sale What is succession planning and why is it so important? Succession Planning is a process designed to help you prepare for a possible change in leadership or ownership, such as a key employee leaving your bus...
Business Basics Series: Hiring Employees What do I need to know and do before hiring employees? So you have formed your business entity and found some funding. Now, you're ready to hire your first employee. Before you leap into becoming an employer, however, there are certain requirements you sh...
What are the different types of funding available? When starting your business, you'll want to ensure you have adequate funding to help pay for any expenditures. By understanding what type of funding is available to you and the potential advantages, you will be able to make the best choice for y...
What are the entity types and how do I select one? Before you register your business, it's important to consider the best entity type to register. Choosing the appropriate business entity type is important because it can impact how your business is run. You need to consider the purpose of your b...
Happy Pride Month! It has been a busy summer already here at Res Nova Law, with new clients and cases and their myriad of legal issues. And with Howard and I both moving households (Howard last month and me next month), plus at least one graduation (my son) and an upcoming move to colle...
The $1.9 trillion American Rescue Plan Act of 2021 (Act) that President Biden signed into law on March 11, 2021 includes a new $28.6 billion Restaurant Revitalization Fund (the Fund). The Fund will provide much-needed grants instead of loans to restaurants, bars, food trucks, brewpubs and similar...
What is a trade secret and what types of information can trade secrets protect? A trade secret may consist of any formula, pattern, device, or compilation of information that is used in your business and can provide an advantage in the marketplace over competitors who do not know it. Trade secret...
