A simple search online these days can turn up lots of advice regarding the importance and benefits of buy-sell agreements, deferred compensation agreements, and life insurance in family business succession planning. While knowing this information is valuable when thinking about the transition of a family business from one generation to the next, none of it will come into play until a business owner is prepared to face reality and take action. Believe it or not, very few entrepreneurs … [Read more...]
Is Your Small-Business Safe?
If you’re a small business owner, you probably know that operating and owning a business can be filled with pitfalls and risks. When tough times arise, one thing is unfortunately clear: litigation’s popularity increases. Due to the financial stresses caused by the coronavirus, we anticipate that people and businesses will be much quicker to resort to litigation to recoup monies owed or avoid taking financial losses. The last thing you want is to be an easy target during … [Read more...]
Business Succession Planning with Attorney Chip Morrison
Click Here and Watch Attorney, Chip Morrison, explain Hi, I’m Chip Morrison with Morrison Law Group. If you own a successful business, chances are you have some idea of how you want your business to proceed after you’re gone. Despite this, many small business owners are legally unprepared in the case of their death, disability, or in the case of their retirement. It is imperative that business owners above a certain age address succession planning, so that their business can continue to … [Read more...]
