I am excited that school is almost out for Daniel and Cameron. Believe me, they are ecstatic. I need a breather from the rigor of helping with homework. Both boys are enrolled in Honors classes which involve a large volume of work. I know Cameron is so ready to be finished with Honors English. The jury is still out on whether he will continue in Honors 8th grade English. As of today, the answer is no. I hope that the long summer with soften his resolve to NEVER again complete PRLs at the rapid pace required in Honors. I agree, it is a lot of work. However getting comfortable with high level functioning, albeit stressful sometimes, reaps vast long-term rewards.

Do you regularly check yourself (if a sole proprietor) or you & your staff for compliance with your code of conduct? Whether written or not, we all have a mission statement of sorts, for our lives and work. Today’s article addresses both establishing protocols for your business and then, here comes the hard part, living them. This is worth pondering: not only getting it in writing, but then regularly assessing if you actually conduct yourselves in line with your core values. If you desire a top notch reputation, then put in place a code of conduct and set expectations within your organization that guarantees excellence every time.

At Cava & Faulkner, we’ve got you covered.

Wishing you Health, Happiness and a life filled with Passion!

Christine

_____________________________________________________________________________

The “Un” Secret Service

by Christine Faulkner, Esq.

Most people have heard the recent stories splashing the front pages of newspapers and news channels about the indiscretions of the United States Secret Service. The venerable Service, which was assumed to carry out its duty of protecting the President with dignity, is now seen as a potential breeding ground for arrogance and debauchery. In particular, the revelations of a married man soliciting prostitutes while other colleagues were compromising the security of the same person they were sworn to protect has shocked many. Additional allegations have surfaced about similar issues in other Central American countries, and the Secret Service finds itself in the middle of a full-scale crisis.

In response, the Secret Service has issued a set of rules and guidelines in an attempt to ensure there are no further incidents. The guidelines are clear and well-written and have been lauded by many. Yet to others they are a matter of common sense, and many pundits have asked why these rules are just now being written and expressed. Would these scandals have been avoided if the agency had established the right protocols, rules, and values from the beginning and ensured all agents knew how to abide by them?

What You Should Learn From This

For small businesses, being transparent about expectations with employees is an essential ingredient to ensuring a healthy customer experience and a growing business. There should be no secrets when it comes to expectations of behavior. Those expectations need to go beyond a sign in the restroom telling employees to wash their hands. They need to set the tone for behavior in the context of your employees representing your brand.

Some small businesses are beginning to adopt a big business practice by putting in place Codes of Conduct. These codes explain the mission and purpose of the business and the core values by which it operates. They give employees guidance on legal matters like harassment and conflict of interest, and they provide examples of how employees should conduct themselves on a day-to-day basis.

However, as much as these codes are very helpful, they often sit in a desk drawer or are handed to new employees with a stack of other start-up paperwork. Instead, the small business owner should make the Code of Conduct a living document and use it to guide the business on a day-to-day basis. The best small business leaders are bringing a discussion of core values into their staff meetings and providing an open door for discussions about gray areas and uncertainties. Some are providing case study examples and role playing for their managers and leaders to help them understand how to lead and uphold expectations.

Getting Customers Involved

Recently, even more progressive small business owners have created principles they share with customers as a commitment to providing certain types of experiences, and setting expectations for employee behavior. These commitments go beyond standard customer service guarantees and get to the heart of the experience customers will have when engaging with anyone related to the small business operation. Most importantly, these commitments are shared publically and made known to all. There are no secrets when it comes to setting expectations and keeping promises related to behavior.

Our Promise to Customers

In our transparent and connected world, the Secret Service has learned how difficult it is to keep secrets. The best small business owners will embrace transparency and set expectations that will ultimately delight their customers. Our commitment to customers is that we will provide you with thorough legal representation at a price that won’t leave you guessing about your next legal bill. Call our office today and schedule a LIFT™ (Legal, Insurance, Finance, and Tax) Business Audit so that we can discuss handling your legal needs. Call anytime to schedule an appointment with our talented staff of qualified attorneys. Don’t forget to mention this article by name and we will waive our $1,250 customary fee.

For the Cava/Faulkners, lacrosse is officially over…well at least during the regular season. Cameron had his last game on Saturday and oh, what a way to end the season. Elk Grove U-15 swept the game 13-0. Cameron won many of the face offs and he performed superbly in the Gladiators final hurrah. No better feeling than leaving on a high note. I had a great mother’s day, with the men in my life making a fantastic brunch (omelettes and sublime Crepes Suzette, a la Daniel). I hope you celebrated with the special woman in your life.

A little about our facebook promotion this month but do check out the article which sets out a few “what ifs” for you to think about. Important stuff. Enjoy your week!

Wishing you Health, Happiness and a life filled with Passion!

Christine

Click Here to Like Our Facebook Page

_____________________________________________________________________

Who Would you Rather Be?

by Christine Faulkner, Esq.

Scenario #1

Jason’s mom has to go for hip replacement surgery. She is in extreme pain and the surgery is the only thing that might help. She is 85 years old and has had heart problems for years. She knows that she has executed an Advanced Health Care Directive, but has no idea where it is. She tries to remember and through the pain and somewhat of a fog due to the painkillers she’s self-administering (and not clearly remembering when she took the last one), she and Jason search for the document. It gets to be time to go to the hospital and they still have not found the document. Jason’s mom undergoes the surgery without an Advanced Health Care Directive in her chart.

Scenario #2

Jane’s dad has cancer. He had surgery and is undergoing chemotherapy. He gives Jane a legal document naming her the Successor Trustee to his Revocable Living Trust (he is currently the Trustee) and provides instructions for how she is to administer the funds in the trust to take care of the family. Jane takes the opportunity to request that she no longer be one of his Health Care decision makers. Her feelings about removing someone from life support have changed and she feels that she will have difficulty following his wishes in that regard. They agree that her father’s best friend would be a better choice.

Would you rather be Jason or Jane?

Both are facing the mortality of a parent. Jason has undergone a fruitless, frustrating search for his mother’s documents while noticing that she’s a little “out of it” due to the extreme pain and her self-medicating. While he waits, he is faced by the uncertainty of what happens if there are complications during the surgery due to his mother’s heart condition.

On the other hand, Jane feels her father’s love in his actions of showing how he wants her to take care of the family as successor trustee. She also expresses her love for her father and her family by sharing that she does not feel that she will be comfortable fulfilling his wishes as his Health Care decision maker.

What can else can we take away from these scenarios?

1. Know where your documents are kept and tell close family members so that they can be found when needed. Ask close family members where their documents are kept. If Jason had been told earlier where the “Important Papers” were kept, his mother would not have had to try to remember through the pain and medications. While your Will should be secure, such as in a fire safe, your other documents need only be in safe place. Too often a stack of “important papers” in an envelope from a lawyer’s office gets put in a “decide later” pile. To help our clients with this, we put their documents in a binder that can be kept on a bookshelf.
2. NOW is the time – later can be too late. In the case of an accident or sudden illness, there is no time for remembering, searching, or informing your loved ones of the location of your documents. Without a plan, each family member’s understanding of your wishes can be fertile ground for arguments. We help our clients develop a documented plan that helps avoid and prevent family arguments, leaving a legacy of peace to their family.
3. Planning is a gift of love and an opportunity to define what you want to leave behind. Planning shows that you care what happens with your family. But in addition to taking care of your assets and guardian choices, your loved ones will most likely want to remember who you were and your special qualities. We help our clients preserve their personal stories, values and family traditions so that your loved ones have something tangible to remember the most important aspects of your life.

If you’d like to learn more about Health Care Proxy Directives and estate planning, call our office today to schedule a time for us to sit down and talk. We normally charge $750 for a Family Wealth Planning Session, but because of the importance of medical directives and proxies, I’ve made space for the next two people who mention this article to have a complete planning session at no charge. Call today and mention this article.

Happy Friday. We are almost done with school for the boys and I am so excited for summer to begin. We have a lot going on over the summer with lacrosse and some fun travel plans to the east coast. Today’s article is a little tidbit about a new law affecting those who collect payments online.

Cava & Faulkner is having a fun promotion this Month! Please like our Facebook page for a chance to win a Family night of bowling at Pins & Stikes, here in Elk Grove. Click on the link below

Cava & Faulkner Facebook Page

Wishing you Health, Happiness and a life filled with Passion! 

Christine

__________________________________________________________

Are You Offering Third Party Services on Your Website?

by Christine Faulkner, Esq.

The practice of inserting third party services with recurring billing into a transaction has drawn the attention and anger of federal and state regulators. To address this concern, the federal Restore Online Shopping Confidence Act (“ROSCA”) was recently enacted. The primary purpose of this law is to protect consumers from deceptive data passing among merchants.

One form of deceptive data-passing among merchants is when consumers unknowingly authorize a merchant to transfer his/her payment information to another merchant for a separate online sale without requiring the consumer to reenter his/her payment information and consent to the third party transaction.

To address this concern, ROSCA has two principal provisions to protect consumers, which are:

(1) ROSCA requires third party sellers to disclose to consumers the terms of their offer, and the fact that the third party seller is not affiliated with the merchant.

(2) ROSCA also requires the third party sellers to obtain “the express informed consent” for the charge by obtaining the account number, name and address, and a means to contact the consumer directly from the consumer, and requiring the consumer to check the box or perform some other affirmative act to indicate his/her consent.

Only if both of the two requirements are met can a business pass data from it to another merchant. In order to meet these requirements, changes are most likely required in your “check out” process on your website.

Finally, ROSCA prohibits a business from charging or attempting to charge any consumer for goods or services over the Internet under which “the customer’s silence or failure to take an affirmative action to reject goods or services or to cancel the agreement is interpreted by the seller as an acceptance of the offer” (“Negative Option Feature”). There are legal ways around this prohibition that requires a business to (1) clearly and conspicuously disclose the material terms of the transaction before obtaining billing information; (2) obtain the consumer’s express informed consent before charging the consumer; and (3) provides “simple mechanisms” for a consumer to stop recurring charges.

ROSCA is primarily enforced by the Federal Trade Commission and the State Attorneys General, but the Act does not rule out private enforcement in civil litigation actions. Violators may be subject to the same penalties and are entitled to the privileges and immunities provided in the Federal Trade Commission Act.

As a business owner, if you are offering any third party services via your website, you will need to make sure that your “check out” procedures and disclosures are compliant with ROSCA. Additionally, there are similar state laws regulating reoccurring payments from goods or services purchased online. For example, automatic renewing charges to California consumers required that the (1) offer terms are presented in a “clear and conspicuous” manner, (2) a business may not charge the consumer’s credit card without the affirmative consent of the consumer, and (3) a business may not change a material term of the offer without “clear and conspicuous” notice of the change to the consumer. Under this California law, if a business sends goods to a consumer under an automatic renewal of a purchase or continuous service agreement without first obtaining the consumer’s affirmative consent, the goods are deemed unconditional gifts to the consumer, and the business must bear their entire cost.

If your website is offering third party services to consumers or has automatic reoccurring charges to its consumers, then it may make sense to conduct a legal website audit of your “check out” policies and disclosures to make sure that you are compliant with ROSCA. Otherwise, if your business website is not compliant with ROSCA, you may draw the attention of the Federal Trade Commission, State Attorneys General and civil plaintiff lawyers.

Call our office today to schedule a LIFT® Foundation Review Session, and if you mention this article by name, we will waive our customary $1,250.00 fee so you can know exactly what needs to be done to give your business a solid legal, insurance, financial and tax footing to avoid the many common (and not so common) pitfalls.

I spent a fabulous night last Saturday at the Relay for Life with my adorable son, Daniel and good friends. It is weird how things happen in 3s. I recently, (in the past week) have reconnected with three people from my past, including a high school acquaintance, our best neighbor from way back and a work colleague who moved on to bigger and better things. At the relay for life, my friend introduced me to her relay team, when our old neighbors said “we know Cava & Faulkner”. I looked over and there they were, with their son, who we have not seen in ages. Funny how life works sometimes. So, back to the Relay for Life. I was first exposed to this event through my Rotary Club and was immediately hooked. One of my first volunteer experiences was rolling hotdogs for the free lunch my rotary club gives away at the event. The boys helped too. The Rotary put together a relay and for a couple of years, Cameron, Daniel and I walked for a leg of the relay for about an hour. I participate to honor and celebrate my mother (who lives with cancer every day) and to help bring awareness about this horrific disease that destroys lives and families. The luminaria ceremony was beautiful, along with walk in silence around the track to the bagpiper playing “ Amazing Grace”. I was truly moved. This event occurs in Elk Grove every May, so if you want to support the cause, come out next year and join us.

We inch ever closer to college days for Daniel. If you have a high schooler, you likely think and fret about college applications, testing, financial aid and the myriad details required for a successful launch. Most parents are so busy taking care of the details and then finally taking a breather, that more paperwork is the farthest thing from their mind. Help your young men and women really step into responsibility in this process by making sure that certain paperwork is complete, such as an advanced healthcare directive and durable power of attorney. Once your child reaches adulthood, without the proper documents, you cannot make decisions for your child in the event of an emergency. Today’s article lays out ideas for a seamless college transition.

At Cava & Faulkner, no detail is too small. We’ve got you covered!

Wishing you Health, Happiness and a life filled with Passion!

Christine

_____________________________________________________

Not The End But A New Beginning

by Christine Faulkner, Esq.

In the next two months, those words will ring out in high school graduation ceremonies all across the country. And if you have a high school senior in your home, then chances are that things are about to change dramatically, both for you and your high school senior.

There are a few things that you need to take care of before sending your senior off to college. In essence, you need to really prepare your student for college. While your college-bound student should be emotionally and mentally prepared for the challenge of higher education, there is no way to know how they are going to adapt to a new environment, especially if your student is moving far away for school.

Set Them Up for Success

The most important thing you can do is to be involved in the process of enrolling. That means going to orientation with your son or daughter. It means figuring out which courses are required in the first year, and it means helping your student get registered. You don’t have to do it for them, but be there to support the process and help problem-solve.

It’s also smart to take a self-guided campus tour. Have your son or daughter lead the way, just so they feel comfortable navigating in unfamiliar surroundings.

If you haven’t already done so, set your son or daughter up with his or her own bank account. Teach them to account for expenses in a checkbook ledger, and teach them to develop and actually use a budget.

Depending on maturity, this might also be a good time to consider a “starter” credit card with a very low limit. Certain banks, many of which will likely be marketing to students on campus, will offer low-limit cards. Such cards should be used to establish a credit file, not to indulge in rampant consumerism. Judge your student’s maturity level and ability to grasp that concept and make a good decision.

Transferring Other Responsibility

College is a good time to teach your student about taking responsibility for things other than just money and registering for classes. It’s a good opportunity for you to have a serious discussion about the responsibility that accompanies adulthood.

Things you can discuss include health care proxies and living wills. Of course you’ll want to be designated as a decision-maker, but by having these conversations, you can begin to impart a sense of what it means to function in society as a responsible adult and what it means to take responsibility for oneself. There is nothing wrong with creating good legal documents for your college-bound student. In fact, it’s a good idea and it can give you a sense of security in knowing that certain details have been handled.

It’s really never too early to have these conversations. Unfortunately, it’s often too late. While it might seem morbid to have such discussions when a “New Beginning” is at hand, the truth is that these issues need to be addressed. The very beginning is really the best time to plan for any possible eventualities.

We’ll Help You Launch

We can craft some custom documents for you and for your college-bound student. To that end, we want to have a very serious conversation with you about your estate and legacy planning. Call our office today to schedule a Family Wealth Planning Session™, and if you mention this article by name, we will waive our customary $750 fee. Use this opportunity to learn for yourself so that you can be a good role model for your future college student.

We are coming down from our adrenaline rush yesterday when the Elk Grove Gladiators Varsity Lacrosse played arch rivals Pleasant Grove Eagles. We went in with tremendous hope and belief of a win, which did not materialize. So one must be philosophical in these moments i.e. pat yourself on the back for your effort, learn what did not work, and move forward. I remember as a college swimmer: the occasions I lost gave me something to ponder. Those losses, without question, made me a better athlete.

Who helps you? Who you surround yourself with in business in hugely important. I am currently reading, “The Speed of Trust”, which is a must read for anyone in business. In this book, Steven Covey recommends surrounding yourself with people more talented than yourself. If you do so, your business will fly. Makes sense. Your team is at least equally important to your business success. For your consideration, the article below touches upon important points when hiring your team. The one I really appreciate is finding a good fit between your team member and the job. Are they suited to the job duties you will assign or are you really forcing a square peg into a round hole. Think on it.

Look to Cava & Faulkner, providing winning strategies for your business!

Wishing you Health, Happiness and a life filled with Passion!

Christine

___________________________________________________________

How to Hire the Right Employees

by Christine Faulkner, Esq.

Are you ready to hire your first employee? Bringing motivated and talented people on board is one of the best moves you can make when starting a new business. But before you set up a new work station or purchase fancy payroll software, make sure you know how to hire the best candidate for the job.

What qualities are you looking for?

This question may require more analysis than you initially think. Consider the particular position you have available, and what specific skills and personal qualities are necessary. If the position involves administrative duties like data entry and filing, you may not want a creative go-getter who is looking for varying challenges, but rather a meticulous and methodical worker. Similarly, if the job requires answering the phone, you will need to look for a pleasantly polite person with a cheery phone manner and people skills.

Some small business experts recommend evaluating your own skills first, and then seeking out an employee who will complement your work style. For example, if you like to avoid dealing with customers in person, hiring a pleasant and talkative person who clearly enjoys communicating with people could benefit the customer service side of your company—and, of course, your bottom line.

Write an accurate job description

In order to reach and attract suitable candidates for the position, you should put together an accurate, detailed job description. List out what tasks are involved in the position, what programs and methods are used, the basic responsibilities of the job, and all qualifications needed.

At the same time, the Small Business Administration recommends keeping job descriptions flexible enough so that your employees are able to grow and develop within their roles and expand their contributions to your company.

So, what makes for a good job description?

Job title and objective. This will tell prospective employees what the overall purpose and scope of the role is.

Tasks and duties. Spell out the regular duties and responsibilities of the position, from the mundane to the most significant. Don’t feel like you need to be exhaustive, but make sure all regular duties are mentioned.

Qualifications. Spell out the educational level and amount of experience you deem necessary, as well as any other qualities necessary to perform the job that you have already determined.

Salary. You may also want to include a pay range in your job description so people know what to expect. It is also acceptable to say “depends on experience” or other such disclaimers.

Interviews

Your approach to interviewing may vary depending on your personality as well as the characteristics and requirements of the job. Before you invite the candidates in for a formal interview, consider having an initial chat over the phone to discuss the job and ask some basic screening questions. This is a good way to test for phone skills and intelligence, as well as to get some basic questions out of the way.

You might choose to conduct in-office interviews on your own, or you could invite a colleague or a trusted employee to join you and offer a second opinion.

Prepare a list of questions to ask each applicant. Remember to include questions meant to gain insight into their ethics, opinions, and experience. Don’t forget to take notes during the interview process.

We are here to support you and your business in any way possible. Call our office today and schedule a LIFT™ (Legal, Insurance, Finance, and Tax) Business Audit so that we can discuss handling your legal needs. Call anytime to schedule an appointment with our talented staff of qualified attorneys. Don’t forget to mention this article by name and we will waive our $1,250 customary fee.

When I watch my boys play lacrosse, I am still amazed that these people are my children. I grew up as a competitive swimmer so the fact that my boys are athletes makes me incredibly proud. The weekends for me are so much about being in the boys’ lives, observing them do what they love, and reveling in those moments. Both Daniel and Cameron have big games coming up this week against Elk Grove rivals Pleasant Grove Lacrosse. Daniel plays Thursday night and Cameron Saturday morning. The first games earlier in the season against Pleasant Grove were both lost by ONE goal, and for Daniel’s varsity team, one goal in overtime. Daniel and Cameron attend Albiani and Pleasant Grove High School so they want to hold their head up high against their classmates and friends, whom they play against. If you want to see an excellent lacrosse game, with two talented teams, come see the Varsity Game at Bartholomew Park this Thursday at 6:30 PM. Go #27 and Go Elk Grove Gladiators!

You care about your family and put them at the top of the list. The decisions you make regarding health care and estate planning are for you, but they’re for your family too. Taking control and making these decisions now allows you to exercise autonomy over your healthcare. You might not realize though what a huge favor you do for your family by removing these worrisome decisions from their plate. Talking about your desires for healthcare is so important but take it one step further, a necessary step, and get it down in writing, with the proper formalities to make it stick. The people who love and adore you will be grateful.

At Cava & Faulkner, you can leave the details to us.

Wishing you Health, Happiness and a life filled with Passion!

Christine

_______________________________________________________________________

Not Too Late To Let Someone Know

by Christine Faulkner, Esq.

April 16th was National Healthcare Decisions Day. The point of this “holiday” is to encourage adults to share their private wishes about medical care and end-of-life decisions. Way too many adults harbor the mistaken belief that their loved ones would “just know” what would be desired in an emergency situation. That assumption could have adverse consequences.

The last thing your family needs in a moment of crisis is a family fight, and that’s exactly what could happen if your loved ones disagree about what you “would have wanted.” It’s a problem that is so easy to address…so easy to avoid, that it makes absolutely no sense to leave this issue to chance.

A National Case Study

Do you remember Terri Schiavo? The case in Florida that tore a family apart, drew the attention of national media, and became the topic of debate in households across America? Schiavo was 26 years young when she had a heart attack that left her in a permanent vegetative state. Schiavo’s family went to court and stayed in court for years, all over questions regarding the removal of life support and feeding tubes.

That’s right . . . YEARS in court. People take these issues very seriously, and many folks are very black and white about their beliefs. There is nothing wrong with being black and white in how you feel about life support. Just be clear about what you want because not everyone shares your beliefs and desires (including people who may be called upon to make decisions on your behalf).

Get It On Paper

Sharing your desires simply isn’t enough. Make sure that you get your wishes down on paper and that the proper legal formalities are followed to a “T”. Otherwise, your directives might not be followed despite your best intentions. Besides that, having your wishes expressed in writing—expressed literally in black and white—will make things easier on your loved ones.

Emotions run rampant when emergency situations present themselves. Your family members love you and they will think about life without you around. There might even be feelings of guilt over how certain they are about your wishes, and there might be dissension between your loved ones about what you want . . . unless your wishes are in writing.

In Honor of The Holiday

Take this opportunity, the day we have been given, to share your wishes about end-of-life care and emergency medical treatments with loved ones. Think about and discuss artificial life support (e.g. feeding tubes and respirators). Consider types of care you would never want, if any, and think about the types of side effects that would simply be unacceptable to you. Talk about options and desires for long-term care, should the need arise.

Finally, you need to decide who you trust to make important decisions on your behalf. We are here to support you as you begin thinking about these important issues. Of course, the topic of conversation isn’t exactly a walk-in-the-park, but it’s won’t be as hard as you think, either.

Get started by giving us a call and scheduling a Family Wealth Planning Session™. We will talk through all of the important decisions that need to be made, and we can help you get educated on the issues so that you can pass on the knowledge to your family and friends. In honor of National Healthcare Decisions Day this April, we are going to waive our customary fee for a Family Wealth Planning Session™ (a $750 value). So please recognize that time is truly precious and you can’t afford to waste it wondering what will happen to your family (and you)if you become incapable of making your own choices.

I am leaving early, well, 3:30 is early for me to leave on a Friday. The day is beautiful and warm so I am going home. Daniel is playing lacrosse tonight, and after walking to the office from school, he is hot and tired. Here is a photo of Daniel taken this morning on the way to school. Daniel has a girlfriend and celebrated his 6 month anniversary by delivering red roses with a note attached to each. What a guy! I am proud that Daniel is a kind and thoughtful person. Another milestone of sorts.

Did you see the move “Yes Man”, with Jim Carrey, where he was compelled to say yes to every opportunity? I enjoyed the movie and mostly believe the idea of opening up to new possibilities in life. Today though, the idea is for small business, sometimes being a “no Man…or Woman” is the best strategy to increase credibility and business success. A new twist you may not have considered.

We may be swimming the weather is so warm!! Enjoy your weekend.

Wishing you Health, Happiness and a life filled with Passion!

Christine

_____________________________________________________________

The Power of No

by Christine Faulkner, Esq.

International Business Machines (IBM) has a long history of teaching its sales professionals to answer every request from a client with the word “yes.”When asked if IBM can supply a product, deliver a service, or share advice and insight, the only variable is the price and timing associated with the answer of “yes.”

That type of reply is powerful for IBM, as it has the resources and depth of experience to deliver against the promise of “yes” as long as it is given ample time and fair compensation from a client. However, for the small business owner or entrepreneur, that same answer can spell disaster. Instead, the most powerful answer a small business owner can deliver is “no.”

Your Reputation Is On The Line

In today’s hyper-connected, hyper-transparent world, we can no longer manage our reputations. Instead, we need to earn them one client, one interaction, one kept promise at a time. After all, clients have new ways to tell the story of their experience with us via social media platforms like Twitter and Facebook. There are countless stories of businesses that have grown rapidly after word spread on Yelp or other sites about the quality of customer experiences. Similarly, there are even more stories of businesses that have struggled or failed because of clients sharing the story of a bad interaction or service or experience with thousands of followers or friends in the matter of minutes.

It’s in this new context where the word “no” is often the key to success, as we strive to build our brands and reputations by providing differentiated service and products to our clients and prospective clients. It can be tempting for new business owners or entrepreneurs to want to respond to every client request with “yes” and our typical “can do” attitudes. But one missed promise or “yes” that remains unfulfilled may rapidly result in countless potential clients hearing about the bad news and taking their business elsewhere.

Say “No” Unless It’s Your Core Compentency

Instead, we need to remain focused on the things we know we do well and the core of our business strategy, product, and/or service. Any client opportunity that aligns with our strategy deserves a “yes” and our best efforts and attention. Anything else demands a “no,” with us explaining to the prospective client the reason for our “no” and often a suggestion for another way they can get their needs met. Most clients and prospective clients will appreciate your honesty, and your reputation and future business potential will benefit.

So how do you get better at saying “no”? First, make sure you are clear on which products and services are the core of your business and will serve as the focus of your resources and your time. Spend the time you need to define them with clarity, and ensure you have the staff and processes in place to provide them with consistency and excellence at every opportunity. Second, take additional time to define any products or services you may wish to provide in the future as expanded opportunities once your core business is healthy and successful. And third, commit to saying “no” to everything else.

Saying “no” may seem unnatural at first, and even scary for the small business owner that is hungry for clients. But learning to say “no” will earn you trust and a spotless reputation, and you’ll find your opportunities to say “yes” growing as a result.

We’re Saying “Yes” To Your Success

If you’re interested in streamlining your business and becoming more effective, then let us take the burden of legal compliance off your shoulders so that you can focus on generating profits. Give us a call to schedule a LIFT™ Business Audit (Legal, Insurance, Finance, and Tax). If you mention this article, we will waive the $1,250 consultation fee and meet with you for free.

l another Monday here and gone and our newsletter comes to you on a Tuesday. Sometimes life just gets in the way of our best laid plans. We had major lacrosse weekend with the boys and more to come this week, with the kids playing Friday, Saturday, and Sunday, with Cameron here in Elk Grove and Daniel in San Jose on Sunday. It is so good to have great friends, to help out with your kids, when you need a couples night. Dave and I are so fortunate to have wonderful friends who’s children are great friends to the our boys, AND, are willing to take em all on a Saturday night. Whew Hoo! Dave and I had a nice, quiet dinner out, alone- just the two of us. It has been a long time and we really enjoyed ourselves.

I am passing along an article I think you will find interesting and so very relevant in today’s digital world. If you want to learn more about your digital legacy, give us a call to schedule your Family Wealth Planning Session™, normally $750, but if you call to schedule before April 30, 2012, we will waive our customary fee.

Wishing you Health, Happiness and a life filled with Passion!

Christine

________________________________________________________________

Leaving a digital Legacy for Your Heirs

Loved ones need to know how to access your vital information online

By Pamela Yip of THE DALLAS MORNING NEWS

The digital evolution has reached estate and financial planning. One of the most important aspects of estate planning has long been to tell your loved ones where to find copies of your will, power of attorney and financial contacts.

That’s still true. What has changed is where people store their important information and documents, and that increasingly is online.

If you have stored much of your personal information and documents online, make things easy for your loved ones. How to start:  List your cyber-assets

Create a record of your cyberassets, including: 

•  Domain names, websites and blogs.
• Photos, videos and documents stored on sharing sites such as Flickr, YouTube and Google Docs.
• Email accounts.
•  Online bank, credit-card and investment accounts, and other such accounts that typically require a password.
• Accounts with online companies such as Facebook, Twitter and eBay.
• Documents, spreadsheets, photos and other such items that are stored on your computers, hard drives, DVDs, smartphones, flash drives and other offline or online servers or backup servers.

Know where you stand

It’s critical that you read and understand the terms of service of an online provider or service. “Many websites will not allow someone to access the content if the individual is no longer alive,” said attorney Peter Vogel, who teaches a course on electronic commerce law at Southern Methodist University in Dallas.

For example, Google said it provides access to a deceased person’s Gmail account “in rare cases” and then only to an authorized representative.

“Any decision to provide the contents of a deceased user’s email will be made only after a careful review,” the company says in its terms of service.

At Facebook, the company “memorializes” an account after its user dies, meaning only confirmed friends can see the user’s profile.

“In order to protect the privacy of the deceased user, we cannot provide login information for the account to anyone,” Facebook said. “However, once an account has been memorialized, it is completely secure and cannot be accessed or altered by anyone.”

Facebook will process “certain special requests for verified immediate family members and executors, including requests to remove a loved one’s account.” 

Make wishes known

“It’s the same old-fashioned advice I would give to any client about any asset,” said Ellen Dorn, an estate- planning lawyer in Dallas. “And that is, it’s important most of all to communicate to those in your life whom you trust, or to your attorney, what it is that you own, what it is that you value and how that information can be accessed upon your death.”

Name those you would like to receive each asset. “You can even include specific bequest language in the body of the will, much like estate planners routinely do for important items of personal property,” said Rick Salmeron, a certified financial planner in Dallas.

The bottom line is your digital legacy is too important to leave to chance, so think about how you want to pass that on to your loved ones and make the necessary preparations.

Ensuring that your family can access your online information is part of digital estate planning. 

Make sure your family can find and access:

• Online bank, credit-card and investment accounts
• Important documents, such as your will
• Websites and blogs you use
• Online bills
• Email accounts
• Business documents

~~ Clients of Cava & Faulkner receive our Peace of Mind Inventory, a great tool for planning for your digital assets. 

Daniel and Cameron last week in Lake Tahoe

 I hope you had a fantastic Easter or Passover, or Spring celebration, as the case may be. Dave made lamb, we had Daniel’s favorite, ham, and Cameron’s, a chocolate Easter-egg cake, prepared by moi.

Briefly, the comments below outline a few Q & As on revocable living trusts. I cover this information with each prospective client and thought you would find this useful.

Wishing you Health, Happiness and a life filled with Passion!

Christine

_____________________________________________________________________

More About Your Estate Plan

by Christine Faulkner, Esq.

The revocable living trust is the basic building block of most estate plans. It’s the tool that allows your estate to avoid the expense, time consumption, and uncertainty of probate court, and it is the tool that can hold just about any of your assets.

While revocable living trusts are ubiquitous in the world of estate planning, it seems that many people are still confused about them, so we are going to clear up a few commonly asked questions.

What does revocable mean?

It means that you can “undo” the trust at any time. In almost all cases, it also means that you can amend or change the terms of the trust. Revocable trusts are the ultimate in terms of flexibility, so don’t worry if circumstances change down the road and you want to make adjustments to your plan. You can make any changes you want (with legal guidance, of course).

It’s a trust, so who controls it?

You do! Revocable living trusts are also known as grantor trusts. A trust is a grantor trust when the trust creator (“grantor”) is also the trust beneficiary. In the case of revocable living trusts, grantors (often joint grantors, since married couples often form these types of trusts) retain authority over the assets as trustees. In short, that gives them full, unfettered discretion over the management of the trust.

Are assets in a revocable living trust protected from creditors?

Generally speaking, no. In the vast majority of states, spendthrift provisions—the clauses that make trust assets inaccessible to creditors—are not generally enforceable for the grantor of a grantor trust (e.g. revocable living trust). In a few states, however, grantor trusts can gain asset protection benefits. Grantor trusts in these states are termed “domestic asset protection trusts,” and they require grantors to comply with very specific rules.

Now that assets are in the trust, what can I do with them?

That answer is simple. You can do anything you want with the assets! You are the trustee, so management of the trust is in your discretion. If you have cash in your revocable living trust, you can open brokerage accounts and trade stocks, bonds, and other financial products through your trust. You also have the option to hold your cash in regular bank accounts or in overseas accounts. In short, you have full discretion over the investment decisions inside your revocable trust.

One word of caution: If you have rental real estate, you probably need to add another layer to your estate plan. The reason is that rental real estate is sometimes classified as a “risky” asset and, therefore, needs to be insulated from the other assets inside your revocable trust.

Finally, it’s not necessary to put your retirement investments (e.g. 401(k) or IRA accounts) into your revocable living trust. The better course of action is to specify beneficiaries through your retirement plan administrator, which will still allow you to avoid probate.

Pull the trigger

We have a message for you if you haven’t yet created an estate plan for yourself: One day it will be too late. Right now you have the power and the opportunity to make some difficult choices that simply shouldn’t be left to your loved ones. If you are interested in meeting with an estate-planning attorney, please call our office, mention this article by name, and request an appointment. We normally charge $750 for Family Wealth Planning Sessions™, but if you mention this article, we will waive that fee. So don’t wait. Time is yours to use or lose!

Daniel and Cameron last week in Lake Tahoe

Do you ever, or always, as the case may be, feel like all you do is work? I sure do. We should take a lesson from the European’s and “chill” during the day by taking a siesta. When we were in Italy in 2006, the landlady who rented us our house went crazy over siesta, when shops close during the day for several hours. She never knew when shops and banks would be open. It drove her nuts. However, I noticed a couple things about the Italians. They seem happy and very well adjusted living “la Dolce Vita” or the sweet life. Take time to enjoy the fruits of your labor, which it turns out makes you more productive anyway….finally some good news about working less.

Enjoy your family and those you love this holiday weekend.

Wishing you a Happy, Healthy life filled with Passion!

Christine

__________________________________________________________

Workweek Inflation

by Christine Faulkner, Esq.

For a lot of people in the entrepreneurship game, working long hours signifies dedication and success. In many ways, long hours are a badge of honor proudly displayed before clients, employees, and vendors. What better way to show that you’re dead serious about making your business a success?

But are long hours counterproductive?

We all know the answer, and yet most of us work ourselves to the bone anyway. Even though long hours are counterproductive (we’ll get to the reasons why in a minute), it just feels wrong to cut the week off at 40 hours. Forty hours is for average workers, and entrepreneurs don’t like to settle for average!

The proof is undeniable. A handful of studies now conclusively show that working more than 40 hours per week on a consistent basis actually makes people unproductive, and it leads to exhaustion.

Working long hours is useless from an efficiency standpoint, and it can also be harmful. While it was originally unions that pushed for a 40-hour week, it was business leaders that embraced it as a smart decision. Throughout the 1930s, 40s, and 50s literally hundreds of studies were conducted on workplace efficiency. What those studies showed, almost unanimously, is that industrial workers are efficient and effective for eight hours per day and that on average, employers get no more “widgets” out of a ten-hour day than they do an eight-hour day.

There are some exceptions

Overtime hours can at times be super productive. For example, pushing really hard to a tight deadline—working 60 or even 70 hours during critical points—can increase short-term gains. But the benefits will only be realized if those “pushes” are for brief periods of time. Generally increasing office hours by 50% won’t get marginally consistent results. In fact, many studies show that increasing work time by 50% as a rule only nets increased output by about 25%. That’s not efficiency, so don’t do it to yourself!

The Takeaway

The message is clear: Going home might be better for your business than staying late. There is one problem with this message. It doesn’t jive psychologically with entrepreneurs. A recent Wall Street Journal article suggested that “We live in a competitive society, and so by lamenting our overwork and sleep deprivation—even if that requires workweek inflation and claiming our worst nights are typical—we show that we are dedicated to our jobs and our families.”

In short, it seems that long hours are psychologically about proving something to ourselves rather than pushing a business forward. It’s worth thinking about.

What you can do

Outsource. We’ve said it before, and we’re saying it again. Do the job you’re best at and delegate other responsibilities. Put good people in charge and empower them to get the job done, while you focus on adding value at your highest point of impact. By doing that, maybe . . . just maybe you can cut your hours to an optimal level.

We are certainly here to support you and your business in any way we can. Call our office today and schedule a LIFT™ (Legal, Insurance, Finance, and Tax) Business Audit so that we can discuss handling your legal needs. Legal issues are not something you should try to resolve on your own because the consequences can be very severe (and law isn’t likely your highest point of impact!). Call us and schedule an appointment. Mention this article by name when you call, and we’ll waive our customary $1,250 fee.