Businesses require periodic evaluation to remain on track to achieve their big-picture goals. The new year is an ideal time to reanalyze, reassess, and reprioritize moving forward. A SWOT (strengths, weaknesses, opportunities and threats) analysis provides a tried-and-true framework for evaluating both internal and external factors that affect a company’s competitiveness. The results of a
Due diligence is the process of obtaining and verifying information about a company or person in preparation for a business transaction, such as an acquisition, merger or potential new business partner. Generally, due diligence in Foley, Alabama provides information about the company being considered for purchase and its operations, with an eye toward risks that
The CTA, enacted as part of the Anti-Money Laundering Act of 2020 (AMLA), places new reporting requirements on many business entities in an effort to expose illegal activities, including the use of shell companies to launder money or conceal illicit funds. Around 30 million small businesses will be impacted by the law, including Foley, AL,
Today, many estate plans contain an irrevocable trust that will continue for the benefit of a spouse’s lifetime and then continue for the benefit of several generations. Because trusts like these are designed to span multiple decades, it is important that they include trust decanting provisions to address changes in circumstances, beneficiaries, and governing laws.
With the increased coverage of Artificial Intelligence (AI) and its applications, residents of Foley, AL, and Gulf Shores, AL, might wonder whether an AI program can create an estate plan for them. While AI may be able to generate basic estate planning documents, including wills and trusts, there is no guarantee that they will be
Starting on January 1, 2024, under a new law called the Corporate Transparency Act (CTA), owners of certain business entities in Foley, AL, Gulf Shores, AL, and across the United States must file a report with the federal government including details regarding the ownership of their entity. The CTA was enacted to help combat money
When you decide to create a comprehensive estate plan, there are many things to consider, especially if you’re residing in or have connections to Foley, AL or Gulf Shores, AL. One crucial consideration is whether to tell your loved ones about your plan and how much information to share with them. Estate planning can be
Platforms such as Airbnb and VRBO have disrupted an industry once dominated by hotels and resorts, allowing individuals to open their homes and residential properties to travelers. The boom in short-term rentals has created new opportunities for investors who want to buy income-generating property. Nightly, weekly, and monthly rentals appeal to business and leisure travelers.
Buying a business and purchasing real estate are two very different investments. Business ownership typically requires some management skills and knowledge about market conditions, consumer trends, staffing, and finances. Ownership of real estate, on the other hand, requires considerable due diligence up front but generally offers passive growth with fewer management responsibilities. The skill sets
Small business owners in Baldwin County are no strangers to government regulations. There are many requirements that businesses must be aware of and comply with, including business license and permit rules. Most businesses must obtain licenses or permits, so it is important for each business to know which ones it needs. Business operations are regulated
Congratulations! You are now considered a legal adult, it is time to start thinking like one.
My dad owned rental property for several years. At first, things started off pretty well...
My dad owned rental property for several years. At first, things started off pretty well. He had little maintenance and good tenants. He always did what he could to provide a comfortable home for his tenants and felt that he had a respectful working relationship with the people who rented from him.
We have all heard the horror stories of a tenant trashing a rental unit, leaving the owner with thousands of dollars in repairs.
In a recent case, the Tennessee Court of Appeals ruled that agreements contained in a parenting plan would not supersede the Parental Rights Relocation Act.
The Greenbook outlines proposals on several different topics.
Friction between family members can escalate during a scorching summer heatwave.
Cash flow measures how much cash is flowing in and out of a business.
The limited liability company (LLC) is a popular entity structure among small business owners that provides governance and taxation flexibility and shields personal assets from business liabilities.
According to WealthCounsel, over a third of Americans have experienced or witnessed familial conflict when someone dies without an estate plan.
May is National Etiquette Month, and the goal is to encourage all people to act with consideration, respect, and honesty in their interactions with others and in their everyday lives.
As estate planning attorneys, we work hard to set up estate plans that fit a client’s needs and ensure that everything works together for the client and their loved ones.
When a person dies, what happens next depends on whether the deceased person had any foundational estate planning documents such as a last will and testament (otherwise known as a will) or trust, who the living relatives are, and their relationship to the person who died.
Finding the right balance requires careful consideration of the different legal and financial tools available to help you fulfill the vision of your estate plan.
Estate planning involves deciding how to plan for the management of your money, property, and well-being before your death and how to distribute your money and property after your death.
We associate March with St. Patrick’s Day and Irish traditions such as searching for four-leaf clovers, which are thought to bring good luck.
Women have played a vital role in building the United States into a strong and prosperous nation.
Spouses often work together to build wealth for themselves and their children.
If you are a residential investment property owner, chances are you get a security deposit from a potential tenant at the beginning of a new rental relationship.