Losing a family member is always hard. It’s not merely the grief that is so difficult to deal with. It’s also the confusion and the stress that comes along with the myriad practical issues that need to be addressed. So many details must be attended to, and so many loose ends must be efficiently tied. But how do you even know where to begin? After you’ve called the funeral home and made the appropriate arrangements, who do you contact next?
As an entrepreneur, one of the core business decisions you need to make is what business formation your enterprise will take. The different types of business formations offer you varying degrees of protection, but also come with certain requirements and formalities that need to be followed.
Social media and financial accounts do not automatically disappear when you pass away. Family members or loved ones will have the option of deactivating them, but it may be necessary to access these accounts when administering your estate before deactivation.
Business planning is a balance between examining concrete evidence and seeing the future. As a business owner, you have to guess what will happen to mitigate risks and help their company flourish, which is no easy task.
It’s the New Year and once again time for resolutions. While most resolutions tend to focus on self improvement, a more practical resolution might be a better idea. With less than 8 percent of Americans following through on resolutions for eating healthier, exercising more and spending less money, a resolution geared towards estate planning is an achievable goal you can easily accomplish. Having an estate plan in place ensures that your assets are protected if you lose your mental capacity and distributed how you wish after you depart.