KFC’s current and highly popular ad campaign has shown a succession of celebrities portraying the legendary Colonel Sanders. The commercials are credited for turning around the fast food chain’s fortunes. From Daryl Hammond to George Hamilton, impressionists, actors and comedians share the iconic white suit with KFC’s blessing.
Without an estate plan, chaos awaits
That may seem an overstatement, but as we pass the one year anniversary of the musician Prince's death from an accidental overdose, the trials and tribulations of his estate administration serve as yet one more reminder that it can never be too early to create an estate plan.
How To Legally Revoke A Will
One cause of will contests is the existence of more than one will. At first blush, having multiple wills seems improbable, but it can happen more easily than you would think. Here are two scenarios:
How can we keep our business dispute out of the courtroom? (PART 2)
Last week we started discussing some ways that a business can keep their dispute out of the courtroom. Beyond communication and having a general appreciation for the other side’s perspective, there are some very specific safeguards a business can set up in order to protect itself.
How can we keep our business dispute out of the courtroom? (PART 1)
Whether we think about disputes in our personal life or in our business life, one thing is for sure: we try to avoid them or resolve them as quickly as possible. Another thing is pretty clear as well: they are inevitable. Through certain disputes comes more understanding and growth in a relationship and that very same concept can be applied to a business too.
Questions to ask for family business succession planning
Most business owners do not want to consider retirement, but the harsh reality is that at some point there will be a time when you will be unable to or not want to run your company. Instead of waiting until you are incapacitated, you should consider succession planning. You will not be giving up control of your organization if you plan your successor. Rather, you will be protecting your business and estate for your family. The best plan is when you can assess your situation and make plans to have someone competent and capable step up at the right time.
The importance of boundaries in family businesses
Starting a business with family can have many fulfilling aspects. However, it also has its share of difficulties. In addition to the typical challenges with starting a business, starting a business with family can have its own set of issues connected to it. This includes issues related to boundary-setting.
