Michael Jordan, Wayne Gretzky and Warren Buffett have at least one characteristic in common besides their fame and fortune. All three of these men were among the best in their respective professions at anticipating what was about to happen, rather than reacting to conditions or circumstances. This is the same approach everyone should take when evaluating their insurance needs. After one sustains a loss or damage from storm damage, a collision or a liability claim, it is then too late to obtain sufficient coverage to ease the financial blow.
Your customer list is the very heart and soul of your business. Should it fall into the hands of a competitor, your business could suffer a loss of some or its entire customer base. This can jeopardize the success if not the very survival of your business. However, there are specific steps that businesses can take to help prevent the disclosure of its customer list.
Given the current state of the world economy and recent local events, many of our clients have expressed a desire get their financial and household business matters in order. There are three basic estate planning documents that all individuals should consider when planning and organizing a life plan strategy, although the specific content of those documents will differ by personal circumstances.
It is becoming very common for contracts to contain a clause stating that “Any and all disputes arising under this contract will be settled by arbitration.” Arbitration is simply an agreement between parties that their disputes will be settled through arbitration rather than in court. Arbitration is favored by federal and state courts as a form of “Alternative Dispute Resolution” (ADR) and is one of the fastest growing means of settling disputes. The dispute is submitted to a private, non-judicial person who often has practical knowledge of the matter in dispute.
You might be surprised to find out that despite your level of income or assets, you may need a prenuptial agreement.
Many people fail to consider signing a prenuptial agreement because they mistakenly assume that such agreements are only appropriate or necessary for especially wealthy individuals or couples. Others overlook the option of executing such an agreement simply because the topic is a difficult one to broach and they do not want to risk offending their future spouse. In reality, people of all income levels can benefit from a prenuptial agreement and it can be executed in an amicable way with the cooperation and education of both parties.
A prenuptial agreement should not be seen as an anticipation of divorce or separation, but simply as a means of planning for the future and protecting the parties in a worst-case-scenario. It is no secret that the divorce rate in this country is relatively high, usually reported at a rate of around 50%. Therefore, it is no surprise that more couples are choosing to protect themselves with prenuptial agreements today than ever before.