Several years ago, I had the pleasure of meeting Kevin Short, an investment banker in Clayton, MO. He took the time to educate me about his business model and provide me with insights into the world of buying and selling businesses. For the most part, Kevin takes engagements for businesses with a value of anywhere between $20mm and $200mm, almost a...

In our last two Newsletters, we presented the first two articles of a three part series of articles discussing Business Succession Planning. This is the third part of that series. Five Ways to Transition Out of Your Business As a business owner, you should never neglect business succession planning because, like your estate plan, you may need it ...

Business Succession Planning The Key to Profitably and Confidently Passing Off the Baton Part 2   In our last Newsletter, we presented the first of a three part series of articles discussing Business Succession Planning.  This is the second part of that series.    Inevitably, every business owner will leave the business.&...

Do you own your business? Whether you inherited it, started it our bought it, your business is a product of your hard work and persistence. As you approach retirement, you likely give a considerable amount of thought to the future of your business. Who will succeed you in running the business? How much information should you share with your appoint...

I.  Introduction. Individuals with disabilities present a unique set of challenges for parents and other family members.  Depending upon the particular disability, families often grapple with such issues as guardianship, medical care, financial planning for lifetime care as well as meaningful job opportunities to provide fulfillment and ...

I offer clients the opportunity to sit down with me and review their estate plans at least once each year.  However, this doesn’t mean you should wait until your next review if your circum­stanc­es change.  This Estate Planning Checklist identifies events that could make a significant impact on your estate.  If any of t...

Misconception #1: A Will avoids probate.  No.  A Will is the primary tool of the probate system. Your Will is like a letter to the Court telling the Court how you want your property distributed.  Then your executor must make sure that she proves to the Court that all your propert...

MISTAKE #1:  Not forming a corporation or LLC.  In today’s lawsuit-happy society, you need every protection you can get for your personal assets.  Make sure you’ve done everything reasonably necessary to protect yourself from your business liabilities.  Ask you...

“Joint Tenancy With Right of Survivorship” means that each person has equal access to the property.  When one owner dies, that person’s share immediately passes to the other owner.  If there is more than one other owner, that property passes to them in equal shares.  At the death of a joint tenant, title “flee...

What Is It?  A power of attorney is authority a “principal” gives to an agent (the “attorney in fact”) to act on the principal’s behalf.  Until recently, all authority of agents to act on behalf of their principals terminated when the principal became unable to understand decisions he or she might be making.&...

The Six Biggest Mistakes People Make When Hiring a Lawyer By Jeff Roberts    When I was a young(er) lawyer, I worked in the tax department of a large law firm in the Pacific Northwest.  One of the senior partners (Bud Daheim) explained what clients are looking for in hiring a lawyer by comparing it to getting a toothache fixed by ...