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How often do you think about starting your own business? When you consider starting a business, is your first thought that you’re not ready or it’s not the right time? So how do you know when it is time to start that business and become an entrepreneur? Here are some clues you might be ready to be your own boss:
If you share ownership of a business, you need a buy-sell agreement. Buy-sell agreements are not written when you are buying or selling a company; rather, they outline the rules under which an owner may sell (or be forced to sell) his or her share of the business. They also cover the disposition of this share of the business if the partner is divorcing, files bankruptcy, retires, becomes incapacitated, dies, or fails to meet an obligation to the business. Any of these triggering events may activate the terms of the buy-sell agreement. These agreements can be especially important in family owned businesses as protection for all parties involved.
In the November 2016 edition of BWS Update: 3 Top Estate Disputes, Ryan McNeill to speak at two area events, and help us combat senior hunger.
Lexington, NC – Brinkley Walser Stoner is holding its annual food drive to target hunger among area seniors. The firm will collect nonperishable holiday food items and financial donations at its Lexington offices now through the end of November. All donations will be given to Pastor’s Pantry.
Many of our estate planning clients put great thought into their final wishes as they write their wills, create trusts or name executors. Despite the planning, there may still be disputes over how the estate is handled. Here are the three most common estate disputes we see:
1. Division of tangible personal property can be a challenge, especially when the property may have sentimental value or be perceived as valuable. When there are multiple heirs getting “equal” shares per the will, determining value and how the assets will be distributed can lead to animosity.
In the October edition of BWS Update: Are you ready to take on a redevelopment project?; Congratulations to Thompson Miller; and Happy Halloween.