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how to name your business
One of the coolest parts of owning a business is getting to come up with its name. On the creative side, you’re choosing a name to represent and encapsulate the essence of your life’s work. On the practical side, you’re trying to come up with something that will most effectively grab the interest of potential customers. Another issue you might not be aware of, though, is how many different laws exist related to naming your business. These laws vary state by state, so what’s legal in one place might not be legal in another. To this end, navigating state laws governing business names is something that not only startups must consider, but also those well-established companies that might expand into more than one state. While it’s impossible to list all of those state laws here, there are several common factors most state-name laws center around. If you’re in the process…

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estate planning college students
With high school graduation coming up, many parents will soon watch their children become adults (at least in the eyes of the law) and leave home to pursue their education and career goals. Turning 18, graduating high school, and moving out is a huge accomplishment. And it also comes with some serious responsibilities that probably aren’t at the forefront of their (or your) mind right now. Once your children become legal adults, many areas that were once under your control are now solely up to them. Here’s the big one: Before they turned 18, you had access to their financial accounts and had the power to make all of their healthcare decisions. After they turn 18, however, you’re no longer able to do either. Before your kids head out into the world, you should discuss and have them sign the following estate planning documents, so if they become incapacitated, you…

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estate planning business attorney jacksonville
When running a business, it’s easy to give estate planning less priority than other matters. After all, if you’re facing challenges meeting next month’s payroll or your growth path over the immediate term, concerns over your potential incapacity or death can seem far less pressing. But the reality is considering what would happen to your business in the event of your incapacity or when you die is one of the most valuable things you can do for your business when it’s done right. Though estate planning and business planning may seem like two separate tasks, they’re actually inexorably linked. And given that your business is likely your most valuable asset, estate planning is vital not only for your company’s continued success but also for your family’s future well being. Without a proper estate plan, your staff, clients, and family could face dire consequences if something should happen to you. Yet…

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estate planning jacksonville
Spring into action! Even if you put a totally solid estate plan in place, it can end up proving worthless if it’s not properly updated. Estate planning is not a one-and-done type of deal: It should continuously evolve along with your life circumstances. No matter who you are, your life will inevitably change: families change, laws change, assets change, and goals change. In the absence of any major life events, we recommend reviewing your plan annually to make sure its terms are up to date. Yet there are several common life events that require you to immediately update your plan—that is if you want it to actually work and keep your loved ones out of court and out of conflict. To this end, if any of the following seven events occur, contact us right away. 1) You get married: Marriage not only changes your relationship status, but it also changes…

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Business incubators (not to be confused with ‘business accelerators’) provide a warm, safe environment for start-ups to grow and develop. They may be privately sponsored or overseen by public institutions, such as universities, but their goal is to provide bulk resources to multiple new businesses. This can include access to much-needed capital funding. Incubators can be found throughout the world and across the United States—there is even a National Business Incubation Association that provides a directory. They are often industry specific, and the new trend now are virtual incubators. However, if you feel that networking and collaboration may be essential to your business, it is probably best to work on-site. But young businesses must be cautious in choosing an incubator and decide if one is an appropriate choice to begin with. Biding for incubator space is a competitive, time-consuming process and there’s no guarantee that the incubator will approve your…

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If you search “how to start a business” on Google, you will see the words “business plan” a hundred times. Your business plan can be as flexible and custom-fitted to your venture as you want it to be, however, there are some components that cannot be overlooked, such as funding, organization and financial projections. The U.S. Small Business Administration is a good starting point for DIY business planning, but having an accountant, financial advisor and an attorney have a look at your plan is strongly recommended. You never know what you may miss when blinded by your ambitions. One of the most overlooked parts of a business plan is the owner’s exit strategy. Assuming no one wants to literally work themselves to death, contemplating for retirement or succession should be one of a business owner’s top considerations. It can seem a little unnatural to think about selling your business before…

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