What Business Owners Should Know About Non-Compete Agreements… The Christine Chronicles

Hello and Happy Friday:

I am in Arizona, working with my family to landscape the front yard of home we own where Daniel and his college peeps live.  Lucky for us, Daniel is a landscape design major and has come up with a beautiful design which will no doubt make he and Serena want to sit outside and enjoy the view from now on.   Here’s where we are right now. I’ll post a picture next week of the after.

Non-compete clauses in employment contracts are difficult to enforce in California.  If you use employment contracts in your business, be sure that any non-compete clauses are very precisely and narrowly drafted. Otherwise they could be construed as being against public policy and unenforceable. Work with an attorney well-versed in these types of employment laws to make sure that your money is well spent but more importantly, that you obtain the hoped for and expected outcome.

Until next time,

Christine

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What Business Owners Should Know About Non-Compete Agreements

Non-compete agreements are commonplace in today’s workforce. According to reports from the U.S. Department of the Treasury, roughly 19 percent of American workers, or 30 million people, are currently covered by non-compete agreements.

While non-compete agreements are fairly widespread, they’ve come under fire lately in the courts as being unfair to employees and imposing overly harsh restrictions on competition and innovation. Indeed, some states deem non-competes unenforceable, and in others, they can only be enforced if they meet strict requirements.

In light of this increased scrutiny, we’ve detailed here exactly what these agreements are designed to do and what conditions must exist to ensure they’re legally valid and enforceable. Armed with this information, business owners should be more capable of deciding whether or not their employees need to sign non-compete agreements.

What is a non-compete agreement?
A non-compete agreement is a legally binding contract between an employer and an employee that seeks to restrict the employee’s ability to compete with the employer once the employment relationship has ended. The restrictions typically cover a set period of time and a specific geographic region.

Non-compete agreements are designed to prevent an employee from leaving your company and taking a new position with a competing company—or starting their own company—and using your proprietary company information to compete with you.

Governed by state law
Because there is no federal law governing non-competes, the rules covering how these agreements work is left up to the states. And the manner in which they are enforced varies widely depending on the state.

For example, California considers employee non-competes totally unenforceable and will only consider enforcement if it involves the sale of a business. Beyond California, roughly one-third of all states impose some level of restriction on the enforceability of non-competes.

Since enforcement of non-competes varies so much between states, it’s important that an agreement be tailored specifically to meet your state’s requirements. This is even more important if your company does business in more than one state, as you should have different agreements for each state to reflect their unique laws.

Balancing the rights of employers and employees
In order to be legally valid, the terms of a non-compete agreement should seek to protect your company’s legitimate business interests without harming the employee’s ability to make a living once their employment has terminated.

When challenged, the courts typically scrutinize three elements of a non-compete. To be considered legally valid, a non-compete must:

● Be aimed at protecting the legitimate business interests of an employer
● Be supported by consideration at the time the agreement was signed
● Be reasonable in terms of scope, geography, and time

Protecting legitimate business interests: When creating a non-compete, you should consider what you’re trying to protect with the agreement. Most companies use non-competes to prevent an employee from sharing confidential company information, or trade secrets, with a competitor.

However, for the information to be deemed a trade secret, courts look at whether or not that information was clearly identified as confidential and what steps the company took to protect it. What’s more, you should ensure that an employee actually has access to confidential information before making them sign a non-compete.

Indeed, non-competes should generally target high-level employees with ready access to sensitive company information, rather than using them as a blanket policy for all employees.

Supported by consideration: Another important element of a non-compete is whether or not there is some form of consideration or payment made in exchange for the employee signing the agreement. If the agreement is signed when the employee is hired, courts typically view employment as the consideration.

But if an employee is asked to sign the non-compete after working for the company for some time, courts will often invalidate the agreement if the employee was not offered some payment (raise) or other benefit (promotion) in exchange for signing.

Reasonable scope, geography, and time: In order to be upheld in court, a non-compete agreement that has restrictions on where and for how long an employee is forbidden from competing with your company must be reasonable. For example, the agreement cannot bar an employee from working indefinitely or within the entire U.S., since this would place unreasonable hardship on the employee’s ability to make a living.

What’s considered “reasonable” depends greatly on the type of business, industry, and location. For example, business owners have the right to restrict competition in the immediate area where they operate, but they cannot forbid an ex-employee from operating a similar business in a distant region, where the former employer doesn’t do business.

Similarly, the duration of the non-compete agreement cannot be so long that it would seriously affect the ex-employee from being able to support themselves. Given this, the duration of most non-compete agreements is less than two years, and some last only a few months.

Because striking a balance between protecting your company’s business interests and not unfairly restricting an employee from earning a living can be quite challenging, you should contact us as your Creative Business Lawyer® to help you draft all non-compete agreements.

As your Creative Business Lawyer®, we’re experts in state contract law, so we’ll know the specific requirements that must be met in your particular area of operations. Moreover, we’re experienced in drafting non-compete agreements that will keep you out of court by offering maximum protection for your business without imposing unreasonable restrictions on your team.

This article is a service of Christine Faulkner, Creative Business Lawyer®. We offer a complete spectrum of legal services for businesses and can help you make the wisest choices on how to deal with your business throughout life and in the event of your death. We also offer a LIFT Start-Up Session™ or a LIFT Audit for an ongoing business, which includes a review of all the legal, financial, and tax systems you need for your business. Call us today to schedule.

 

Posted in Business Article, Employment, Entrepreuner, Financial, Intellectual Property Protection | Comments Off on What Business Owners Should Know About Non-Compete Agreements… The Christine Chronicles

Before Your Kids Leave For College, Make Sure They Sign These Documents… Christine’s Family Wealth Secrets

Hello,

This weekend was a weekend of work for me. I enjoyed a Friday night out with Dave….dinner and a movie, but that was it for fun. I am on a fast countdown to our departure in about six weeks to Spain and I feel very behind in my training to get ready to walk 17 miles a day for a month. There is still much to do, but I am taking a deep breath and doing my best to enjoy my time at work, and when I do have a moment to train, believing it will all fall into place.

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Preparation is what we do here at Cava and Faulkner. Having two college age children myself, and having put these documents in place for my children, I can attest to the importance of putting in place incapacity planning for your children over the age of 18. You likely still think of your teenager as a “kid”, and for all intents and purposes your child is still financially dependent upon you. The irony is that while your financial obligation continues, your ability to help your child make decisions and take care of medical bills becomes virtually impossible without these documents in place. Have a look and think about making an appointment over the summer so that as your child departs for college, you’ll know that you can take care of them even if they are across the country or across town!

Christine

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Before Your Kids Leave For College, Make Sure They Sign These Documents

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With high school graduation coming up, many parents will soon watch their children become adults (at least in the eyes of the law) and leave home to pursue their education and career goals. Turning 18, graduating high school, and moving out is a huge accomplishment. And it also comes with some serious responsibilities that probably aren’t at the forefront of their (or your) mind right now. Once your children become legal adults, many areas that were once under your control are now solely up to them.

Here’s the big one: Before they turned 18, you had access to their financial accounts and had the power to make all of their healthcare decisions. After they turn 18, however, you’re no longer able to do either. Before your kids head out into the world, you should discuss and have them sign the following estate planning documents, so if they become incapacitated, you can easily access their medical records and financial accounts without having to go to court. Signing these documents will ensure that if they ever do need your help and guidance, you’ll have the legal authority to easily provide it.

Medical Power of Attorney

Medical power of attorney allows your child to name an agent (like you), who has the power to make healthcare decisions for them if they’re incapacitated and cannot make such decisions for themselves. For example, this authority allows you to make medical decisions if your child is knocked unconscious in a car accident or falls into a coma due to an illness.

That said, while medical power of attorney would give you authority to view your child’s medical records and make treatment decisions that authority only goes into effect if the child becomes incapacitated. This means that unless your child is incapacitated, you do not have the authority to view their medical records, which are considered private under HIPAA. HIPPA Authorization Passed in 1996, the “Health Insurance Portability and Accountability Act,” or HIPPA, requires health care providers and insurance companies to protect the privacy of a patient’s health records. Once your child becomes 18, no one—not even parents—is legally authorized to access his or her medical records without prior written permission. But this is easily remedied by having your child sign a HIPPA authorization that grants you the authority to access his or her medical records. This can be critical if you ever need to make informed decisions about your child’s medical care.

Living Will

While medical power of attorney allows you to make medical decisions over your child’s ongoing healthcare if they’re incapacitated, a living will provides specific guidelines for how their medical care should be handled at the end of life. A living will details how they want medical decisions made for them, not just who makes them. But such power only goes into effect if the child is terminally ill, which typically means they have less than six months to live. Your child may have certain wishes for their end-of-life care, so it’s important you discuss these decisions with them and have such provisions documented in a living will. For example, a living will allows the child to decide when and if they want life support removed if they ever require it. Since these are literally life-or-death decisions, you should document them in a living will to ensure they’re properly carried out.

Durable Power of Attorney

In the event your child becomes incapacitated, you’ll also need a durable power of attorney to access his or her financial accounts. If you do not have a signed, financial durable power of attorney, you’ll have to go to court to get access. While medical power of attorney will authorize you to make healthcare-related decisions on their behalf, durable power of attorney will give you the authority to manage their financial and legal matters, such as paying bills, applying for Social Security benefits, and/or managing banking and other financial accounts. If your child is getting ready to leave the nest to attend college or pursue some other life goal, you can trust us as your Personal Family Lawyer® to help your child articulate and legally protect their healthcare and end-of-life wishes. With us in your corner, you’ll have peace of mind that your child will be well taken care of in the event of an unforeseen accident or illness.

This article is a service of Christine Faulkner, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, ™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

Posted in Beneficiaries, Death, Durable Power of Attorney, Estate Planning, Healthcare Directives, HIPPA, Incapacity, Insurance, Lawsuits, Medical Power of Attorney, Parenting, Trusts, Wills | Comments Off on Before Your Kids Leave For College, Make Sure They Sign These Documents… Christine’s Family Wealth Secrets

6 Types of Insurance Every Business Should Have in Place…The Christine Chronicles

Hello and Happy Friday,

Today’s newsletter covers a crucial topic that every business owner should understand.  Many new business owners just don’t have the capital to invest in multiple insurance policies which adds to their overhead….. at least until they receive greater cash flow. However, certain coverage is mandatory, such as workers compensation and auto insurance is you use your auto for your business.  Not having these coverages can bankrupt you after just one claim so do yourself a favor, and make sure you absolutely have these coverages. Without them, your personal assets are up for grabs and even if you have a business entity to provide asset protection, your business assets are still on the line.

If you are more seasoned in your business, invest in these other coverages to ensure that you are fully protected.  Insurance 121 is a full service Commercial Lines Brokerage firm here in Elk Grove. If you are looking for a professional to assist and educate you on these coverages, we recommend Nicolette Eberle with Insurance 121. Time is money in business and working with an insurance professional who provides great service to your company will save you money and free you up to work in your business and do what you do best.

Christine

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6 Types of Insurance Every Business Should Have in Place
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Before you open your business, it’s imperative to have proper insurance coverage. A single lawsuit or catastrophic event can wipe out a company before it even has a chance to get off the ground.

That said, there are many types of insurance out there, and some policies can be extraordinarily expensive, so it’s critical to know what specific risks your company faces and what types of insurance will best cover those risks. The following insurance types are among the most-often needed for practically every business, no matter how big or small.

1. General liability insurance

All businesses need general liability insurance, which covers lawsuits initiated by third parties (non-employees) for bodily injuries and/or property damage that are directly or indirectly related to your business. It’s important to note that such coverage—and indeed most coverage listed here—is needed even if you aren’t at fault. Remember: anyone can sue anyone for anything, and it’s the lawyer’s fees that will cripple your business, even if you are in the right. The right insurance will cover your legal fees.

2. Professional liability insurance

Professional liability insurance covers lawsuits alleging your professional services and/or advice caused a client to suffer financial losses, arising from actions like negligence, mistakes and omissions, and violation of contract. Such coverage is applicable for a wide range of businesses—accountants, lawyers, real-estate agents, consultants, IT firms, among others.

3. Property insurance

Regardless whether you own or lease your office space, property insurance is a must. Such policies cover damage to equipment, furniture, and signage from events like fires, storms, and theft. Some natural disasters, like floods and earthquakes, may not be covered, so be sure to check with your agent to add additional coverage if you live in a disaster-prone region. You may also want to consider business interruption insurance to protect your revenue if your company is unable to operate due to a natural disaster or other catastrophic event.

4. Workers’ compensation insurance

If you have any W2 employees, state law require workers’ compensation insurance, so it’s mandatory in many cases. Workers’ comp offers medical treatment, disability, and death benefits for employees. And even if your business is relatively low-risk, coverage is still needed for claims like slip-and-fall injuries and carpal tunnel syndrome.

5. Vehicle insurance

If your employees use a company-owned vehicle to conduct business, those vehicles  should have comprehensive commercial auto insurance to protect against liability as well as any injury/damage to your employees, vehicles, products, and equipment. If your employees use their own vehicles, their personal insurance often covers them. But it’s a good idea to purchase “non-owned auto liability coverage” in case an employee fails to renew their insurance or has inadequate coverage.

6. Employment Practices insurance

If you have employees, one of your biggest risks is getting sued by one of them. If you have employment practices insurance in place, however, a lawsuit against you would be covered by your policy.

As your Creative Business Lawyer®, we’re experts at helping business owners assess the legal risks they face and determine the insurance they need. Contact us today to discuss exactly what kind of insurance you need and what levels of coverage will best protect your company.

This article is a service of Christine Faulkner, Creative Business Lawyer®. We offer a complete spectrum of legal services for businesses and can help you make the wisest choices on how to deal with your business throughout life and in the event of your death. We also offer a LIFT Start-Up Session™ or a LIFT Audit for an ongoing business, which includes a review of all the legal, financial, and tax systems you need for your business. Call us today to schedule.

Posted in Asset Protection, Business Entities, Court, Employment, Insurance, Investing, Lawsuits, Success | Comments Off on 6 Types of Insurance Every Business Should Have in Place…The Christine Chronicles

3 Key Benefits of Conscious Uncoupling….Christine’s Family Wealth Secrets

Hello and Happy Monday:

We are off to the races for another busy week.  I am now on a serious quest to drop some weight in preparation for our trip to Spain in Mid May for the Camino.  Beginning today, I will start a weight-loss program and begin walking again. I have been sidelined with some foot pain so I laid off of it for about a week, but now that we are 6 weeks out and counting; I’ve got to get back to it. I will also stop drinking alcohol in my weight-loss quest. That will likely be the hardest part (LOL). My goal is to lose about 10 -15 lbs prior to departing for which my joints will thank me.  My intention is to be as fit as possible prior to embarking on this journey.

Your intention is the starting point for action, which comes after. Being intentional in life, ergo, having a plan and then acting on that plan, most often yields the expected result. This is true also if you are divorcing. If your plan is experiencing an amicable divorce, one in which you spare yourself and your children the heartache of mudslinging and verbal assault, then familiarize yourself with the concept of  “conscious uncoupling”. If you are respectful and cooperative in other aspects of your life, continue that trend during your pending divorce.  You will save yourself money, years of counseling, and salvage your mental health to boot.   Sounds like a great plan! 

Christine

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3 Key Benefits of Conscious Uncoupling

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The concept of conscious uncoupling, or conscious divorce, has been around for decades in the psychotherapy community. However, the actual term “conscious uncoupling” was thrust into the mainstream lexicon in 2014, when Gwyneth Paltrow used it to publicly announce that she and husband Chris Martin were separating. Since then, the term has been used extensively to describe what was previously called “amicable divorce” or “uncontested divorce.” In 2016, relationship expert Katherine Woodward Thomas wrote the book Conscious Uncoupling, and she now offers a five-week program of therapy designed to help individuals make a more healthy transition from marriage to singlehood. While there’s no precise definition of conscious uncoupling, according to Thomas, it basically involves reframing divorce from a traumatic experience into one that focuses on the positive opportunities a split offers for personal growth and spiritual development. The goal is to end the relationship in a truly cooperative and respectful manner, which can have tremendous benefits for both the couple and their children.

It’s important to note that conscious uncoupling has no legal effect on the marriage. Rather, it’s about maintaining a positive mindset that seeks to mitigate the often terrible effects divorce can have on our emotions, family, and finances. In order to actually terminate the marriage and resolve all of the legal consequences that this entails, couples must still undergo a divorce. This is one reason we often use the term “conscious divorce,” instead of conscious uncoupling. Based on numerous reports from therapists and couples, we’ve laid out the primary benefits conscious divorce offers those seeking a more compassionate and mindful way to end their relationship.

  1. A focus on the positives

Though it may seem like New Age hyperbole to reframe divorce from a traumatic experience to one that’s ultimately positive, the process of adjusting one’s perspective like this can be extraordinarily powerful. In fact, therapists who work with people at the end of life often report their patients wish they’d dissolved past relationships more amicably instead of focusing so much on the blame and pain involved. Indeed, one of the goals of conscious divorce is to move away from the “blame game” model to one that acknowledges that romantic relationships often end for a variety of reasons, not necessarily because it was anyone’s failure or fault. Like all changes in life, the best way to deal with divorce is to accept the loss of the relationship as a simple part of life’s natural roller-coaster ride of ups and downs. The challenge is to focus on all of the things you’ve gained through the relationship, rather than what you’re losing. You’ve undoubtedly shared some amazing times and learned a great deal from being married, and by focusing on these aspects, you can not only experience less trauma, but also be better prepared to move into your new life beyond the relationship.

  1. Puts the children first

While conscious divorce seeks to minimize the pain and hostility for the couple, the most important reason behind such a mindset is to protect your children. Make your kids the motivating factor for keeping the breakup as amicable as possible. When you’re tempted to keep arguing, choose your kids over being right. Don’t fight in front of your children, and never talk negatively about your spouse with them. No matter what happens, you will always be a family, so keep this in mind when making your decisions. By doing this, your children are far less likely to be seriously damaged by the divorce, and it will set the stage for everyone to move on to the next chapter in their lives in a healthier manner.

3. Avoids a contentious court battle

Anyone who’s witnessed a seriously contentious divorce proceeding can attest that such public battles should be a true last resort. Not only do these courtroom dramas take a toll on a family’s mental health, but they also can drag on for months or even years, unnecessarily draining bank accounts and corrupting the marital estate. Conscious divorce, on the other hand, can not only dramatically minimize the time, cost, and emotional toll of divorce, it lays the groundwork for the new non-traditional family to interact and function once the court proceedings are over. This is a huge benefit for establishing a healthy co-parenting relationship, and showing both your children and yourselves that marriage can still be “successful” even if it ends in divorce.

As your Personal Family Lawyer®, we can help you navigate the more contentious aspects of divorce in a “conscious” way by supporting you to find the right counsel to guide you. And, of course, we’ll also help you restructure your assets properly after your divorce. If you’d like to end your marriage in a more positive manner, while ensuring that your children suffer as little trauma as possible, contact us today.   This article is a service of Christine Faulkner, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, ™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

Posted in Amicable Divorce, Asset Protection, Celebrity, Conscious Uncoupling, Court, Divorce, Financial, Parenting | Tagged , , , , | Comments Off on 3 Key Benefits of Conscious Uncoupling….Christine’s Family Wealth Secrets

4 Vital Legal Agreements All Startups Should Have in Place…. The Christine Chronicles

Hello,

I am excited to have ordered a new front door for our home. We now have an extra wide wood door which has seen its better days, having become virtually impossible to open with the key. We ordered a new fiberglass door (no warping with the southern sun exposure) which is quite rustic looking.  We will add some very cool metal fixtures and I get to paint it red!  I have wanted a red door for years and now this will finally come to fruition.  My real estate friends advise that replacing the front door can add thousands to the value of your home, so this is a win-win for us. 

 Starting a business takes an investment of your time and money. It’s a big deal, as this represents your passion and your livelihood. Understanding the crucial legal documents you need in place as a business owner is only the first step.  You must take action to draft and then use the documents in your business so that you are protected. The idea is that such documents both define ownership interest in intellectual property, but also defining rights and obligations of the parties involved, whether they are business partners, investors or employees.  Setting up the right kind of entity which best protects your assets with the most advantageous tax treatment can be a challenge if you do this without proper legal guidance.  In other words, “Don’t try this at home”! 

Christine

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4 Vital Legal Agreements All Startups Should Have in Place

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When getting a business off the ground, one common mistake business owners make is not establishing a solid legal foundation to protect their company from unforeseen situations and circumstances. The most effective and efficient way to provide this legal bedrock is by putting a set of key legal agreements in place. Gleaned from years of business experience and advice from seasoned and highly successful entrepreneurs, we’ve outlined the core four legal documents that a company’s founders should put into place as soon as your business “idea” evolves into a reality.

1. Business Entity Agreement

When starting a business, it’s crucial to select the proper business entity structure in order to maximize tax savings and minimize personal liability. Some of the most popular entity structures include sole proprietorships, general and limited partnerships, C corporations, S corporations and limited liability companies (LLC or even an LLC taxed as an S-Corporation). Once you choose the most advantageous structure, you should—and are sometimes legally required to—draft the proper entity agreements to lay the groundwork for how the business will be governed and operated. Different entity structures require different types of agreements. For example, C corporations require corporate bylaws, while LLCs use an operating agreement. These agreements are legal documents that define each shareholder or member’s rights and responsibilities, along with establishing the provisions for running the company, both on a daily basis and in the event one person dies or becomes incapacitated—as well as if the company dissolves. Moreover, these agreements also outline how business communications will be handled, along with how disputes will be resolved.

You may also have a shareholder’s agreement or a partnership agreement, if there are multiple owners of the business, where you want to further define the relationship among the owners. To avoid any conflicts, these agreements should be created and signed by all parties as soon as the company is launched. As your Creative Business Lawyer®, we can advise you on the entity structure that’s best for your business as well as draft entity agreements to ensure maximum protection.

2. Intellectual Property Assignment Agreements

When launching a new business, you should make sure that all of the intellectual property (IP) brought into the company by its founders before startup, as well as any IP that’s subsequently created by owners and/or employees once the business is operational, is owned by the company, not the individuals. Transfer of IP ownership from individual to the company is done using intellectual property assignment agreements. These agreements “assign” the company with complete ownership rights to all intellectual property assets—patents, trademarks, and copyrights—that are used to conduct business. Such agreements are typically required by most venture capital investors, and they also help protect the company from competitors and/or trolls looking to steal your ideas or products. As your Creative Business Lawyer®, we can help you draft IP assignment agreements, so you can retain total control of all IP assets that your business relies on to operate and grow.

 3. Employee Contracts and Offer Letters

Unless you plan on running the company all by yourself, you should create comprehensive employment contracts and offer letters before hiring new employees. These agreements clearly lay out the terms and conditions of employment, so your team will understand exactly what’s expected from them. Employees should be required to sign these documents, providing evidence that both parties are aware of the employment relationship’s scope and conditions. Employment contracts should also include any non-disclosure agreements (NDA) and/or non-compete agreements you require to ensure your company’s trade secrets and/or proprietary systems and products don’t fall into the hands of competitors.

 4. Sales and Service Contracts

Whether your company sells products, provides professional services, or a bit of both, you should have legal agreements in place to clearly lay out the rights and responsibilities of both the business and its customers. Sales contracts typically lay out the key elements—price, payment and credit terms, tax responsibilities, warranties, and liability limitations—for the sale of products and other goods. Service contracts, on the other hand, explain the fees, terms, and conditions under which your company provides services, along with spelling out the responsibilities and liabilities of each party. Ideally, service contracts should offer your company maximum flexibility for delivering the services, while also limiting its liability. Be sure the contract not only covers the traditional terms listed above, but also any unforeseen events or circumstances that may occur.

If you’re starting a new business, or have already started one but still need to draft the necessary legal agreements, contact us as your Creative Business Lawyer®. We’re experienced in helping entrepreneurs protect their business interests and limit their liability by drafting comprehensive legal agreements. What’s more, as your Creative Business Lawyer®, we can also help you establish sound legal, insurance, financial, and tax systems for your business, to ensure it experiences maximum growth and minimum hardship. This article is a service of Christine Faulkner,Creative Business Lawyer®. We offer a complete spectrum of legal services for businesses and can help you make the wisest choices on how to deal with your business throughout life and in the event of your death. We also offer a LIFT Start-Up Session™ or a LIFT Audit for an ongoing business, which includes a review of all the legal, financial, and tax systems you need for your business. Call us today to schedule.

Posted in Asset Protection, Building Wealth, Business Entities, Death, Employment, Financial, Intellectual Property Protection, Investing, Lawsuits, Startup, Success, Succession Planning, Uncategorized | Tagged , , , , , , , | Comments Off on 4 Vital Legal Agreements All Startups Should Have in Place…. The Christine Chronicles

Estate Planning Tips for Ensuring Your Pets Are Properly Cared For… Christine’s Family Wealth Secrets

Hello,

I am feeling amazing after having the brilliant idea to work on our lawn yesterday. Despite being slightly sunburned, we mowed a reasonably substantial portion of our property. While I know this sounds like nothing special, having close to 2 acres means this is usually a HUGE spring job, taking weekend after weekend. That is because we are usually accomplishing this in May when the grass is hip high….and wet!! Although it rained a few days before, it seemed dry enough which turned out to be mostly true.  The property looks very green, smells like freshly cut grass and it really feels to me like spring.  We lost our gardener almost 2 years ago, and I have been too busy to get back on top of hiring someone.  The amount of time spent yesterday reminds me of why I need to get a professional gardener to make our yard look great again.

We are pet lovers indeed.  Between us we have 2 beloved pooches and  many kitties.  We know how important your pets are,  as part of your family. That is why when planning, you should really give thought to what would happen to your pets should something happen to you. A thorough plan provides for all members of the family, including your pets. Specifically setting forth what you do and don’t want to happen with your pets is crucial to ensure your furry pals are attended to and provided for. Making sure they never end up in a kill shelter, requires thoughtful and detailed planning. At Cava & Faulkner, we will make sure your  planning covers the bases so that your beloved pet will live a healthy,  long life.

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Christine

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Estate Planning Tips for Ensuring Your Pets Are Properly Cared For

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It’s sad but true that many pets end up in shelters after their owner dies or becomes incapacitated. In fact, the Humane Society estimates that between 100,00 to 500,000 pets are placed in shelters each year for exactly this reason, and a large number of these animals are ultimately euthanized. Whether we like it or not, the law considers pets to be nothing more than personal property just like cars, furniture, and electronic devices. In light of this cold reality, it’s vital that you provide for your pet’s future care through estate planning, so when you die or if you become incapacitated, your beloved friend won’t wind up in a shelter or worse. The following tips offer helpful advice to ensure your faithful companion receives the best possible care when you’re no longer able to do it yourself. Identify a new caregiver for your pet.

 Selecting a trustworthy caregiver is the first—and most important—step in protecting your pet(s) through estate planning. Many people assume their children, relatives, or friends will be suitable guardians, and these folks may even tell you as much in conversation. But the reality is, properly caring for most pets is a major commitment of time, emotion, and finances. It’s best to come up with a list of potential candidates, and then have a frank talk with each of them, discussing the extent of care your pet requires and whether they have any personal issues (allergies, housing, other pets) that might prevent them from providing the necessary care. If you don’t know any suitable caregivers, charitable groups, such as the Safe Haven® Surviving Pet Care Program, can provide for your pet in the event of your death or incapacity. Get it in writing Once you’ve chosen a guardian—along with one or two alternates in case something happens to your top choice—outline all of your pet’s care requirements, listing its health issues, dietary concerns, medications, etc. These requirements should be indicated within a properly drafted legal document to ensure that your wishes are properly carried out and enforceable. As your Personal Family Lawyer®, we can help you create a legally binding agreement detailing your pet’s specific needs, which can be easily added to your other estate planning documents.

    Provide funding for your pet’s continued care All pets have basic food, shelter, and medical needs, and these needs can be quite expensive, depending on the animal’s age and health. And if you’re like most pet owners, you probably want your pet to receive more than just the bare necessities, so it’s imperative that you leave enough money to cover all such expenses. Be sure to not only provide clear, detailed instructions on how your pet should be taken care of in your estate plan, but also include the necessary funding to cover these costs. And be sure you think about all of your pet’s future needs, including any extra services—grooming, boarding, and walking services—when calculating these expenses.

    Set up a pet trust Because pet care can be quite complicated and costly, the best way to ensure your wishes are properly carried out is to set up a pet trust. While it’s possible to leave care instructions and funding for your pet in a will, a will cannot guarantee the new caregiver will use the funds properly or even that they’ll care for your pet at all. Indeed, a person who’s left your pet in a will can simply drop the animal off at a local shelter and keep the money for themselves. A pet trust, on the other hand, allows you to lay out detailed rules for exactly how the trust’s funds can be used. To ensure your wishes are accurately carried out, you should name someone other than the caregiver as trustee, so this person can manage the funds and make sure they’re only used as spelled out by the rules you’ve created.

While leaving assets in a pet trust is fairly simple, creating a properly drafted trust that includes all of the necessary terms can be quite complex. Given this, you should work with us as your Personal Family Lawyer®, to be certain that all of the necessary elements are in place to ensure your pet will continue to receive the love and care it deserves if you aren’t around to do it.   This article is a service of Christine Faulkner, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people/pets you love. That’s why we offer a Family Wealth Planning Session,  during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

Posted in Beneficiaries, Caregiver, Charitable groups, Death, Estate Planning, Financial, Guardianship, Healthcare Directives, Incapacity, Pets, Trusts, Uncategorized, Wills | Tagged , , , , , , , , , , , , | Comments Off on Estate Planning Tips for Ensuring Your Pets Are Properly Cared For… Christine’s Family Wealth Secrets

Choosing the Right Life Insurance Policy… Christine’s Family Wealth Secrets

Hi:

In speaking with a client this morning about how title is held, I am reminded of how the smallest details in the planning process can have big consequences. The wording in your real estate title (deed) can mean the difference between a quick, inexpensive transfer and a full blown probate, even when one spouse is still alive.

Likewise, the kind of life insurance you chose can result in very different outcomes. Completely understanding how your insurance investment works is key prior to making the investment.  Working with a good insurance advisor is of course your first step. Next, when creating your estate plan, we will guide you in understanding just how your life insurance fits in your estate plan to achieve the ideal outcome for the people you love.

Until next time,

Christine

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Choosing the Right Life Insurance Policy

While purchasing life insurance may seem pretty straightforward, it’s actually quite complex, especially with so many different types available.

In order to offer some clarity on the different types of policies out there, we’ve broken down the most popular kinds of life insurance here and discussed the pros and cons that come with each one.

Term life insurance
Term life insurance is the simplest—and typically least expensive—type of coverage. Term policies are purchased for a set period of time (the term), and if you die during that time, your beneficiary is paid the death benefit.

Terms can vary widely—10, 15, 25, 30 years or longer—and if it’s a Level Term policy, the premium and death benefit remain the same throughout the duration. If you survive the term and want to retain coverage, you must re-qualify for a policy at your new age and health status.

In addition to Level Term, other variations include “Annual Renewable Term,” in which the death benefit is unchanged throughout the term, but the insurance is renewed annually, often with an increase in premiums. With a “Decreasing Term” policy, the death benefits decrease each year until they reach zero, but the premium remains the same.

Decreasing Term life insurance is often used to cover a mortgage, student loan, or other long-term debt, so the policy expires at the time the mortgage/debt is paid off.

Whole life insurance
Whole life, or permanent, insurance pays a death benefit whenever you die, no matter how long you live. With a whole life policy, both the death benefit and premium stay the same for your entire life span.

However, depending on when you purchase coverage, the premium can vary widely depending on how much the policy’s death benefit is worth. So, for example, purchasing whole life in your senior years can be extremely expensive and possibly not even available at all.

What’s more, your whole life policy premiums will be much higher than your term life insurance premiums because the insurance company knows the policy will pay out when you die, no matter how long you live.

Indeed, the premium for whole life policies can be among the most costly of all types of life insurance coverage, including similar types of “permanent” policies discussed below. This is simply the price paid for the guaranteed death benefit and a level premium.

Universal life insurance
Universal life is a variation on whole life—it covers you for your entire lifespan, but also contains a “cash-value” component. Rather than putting 100% of your premium toward your death benefit, part of your premium is put into a separate cash-value account that earns interest and is tax-deferred.

The insurance company invests the cash-value funds in various investment vehicles of its choice, and provided the market performs well, you can access those extra funds for things like paying the policy’s premiums, paying off debt, or supplementing your later-in-life fixed income. Some insurance companies will even let you take tax-free loans against the policy’s cash value.

That said, the cash-value account is set at an interest rate that can adjust to reflect the market’s current rates, so if the interest rate of the cash value account decreases to the minimum rate, your premium would need to increase to offset the account’s reduced value.

While universal life premiums are typically more costly than term policies, universal life also allows you to adjust the death benefit within certain guidelines. This added flexibility allows you to choose how much of one’s premium funds will go toward the death benefit and how much goes into the cash value, offering you the ability to adjust the death benefit as your financial circumstances change.

Variable universal life insurance
Variable universal life insurance is quite similar to normal universal life except that variable policies allow you to choose how your cash-value funds are invested, rather than the insurance company. This offers you more control over the cash-value investment and potentially higher returns.

However, if the invested cash-value funds perform poorly or the market tanks, your policy could be at risk. Given a major drop in the cash-value account investments, you may have to pay increased premiums just to keep the policy in force. Moreover, the fees and expenses associated with the cash value investments for variable policies may be much higher than you would pay if you simply invested the funds on your own.

Because understanding life insurance can be confusing, it’s best to get the advice of a trusted advisor before you meet with an insurance agent, who might try to talk you into more coverage than you need in order to earn a larger commission. By sitting down with us as your Personal Family Lawyer®, we can work with you and your insurance advisors to offer truly unbiased advice about which policy type is best for your family and life circumstances.

Contact us today, and we’ll walk you step-by-step through the different life insurance options and help you with your other legal, financial, and tax decisions to ensure your family is planned for and protected no matter what happens.

This article is a service of Christine E. Faulkner, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, ™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

 

Posted in Death, Estate Planning, Financial, Insurance, Probate | Comments Off on Choosing the Right Life Insurance Policy… Christine’s Family Wealth Secrets

What Will the New Tax Law Mean for Your Business?.. The Christine Chronicles

Hi:

I’m out for training today but I thought you would like a tax update, so here you go.  Some useful tidbits for your tax prep this year!!!

Stay dry this weekend!

Christine

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What Will the New Tax Law Mean for Your Business?

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act bill into law, and taxpayers are still trying to figure out how it might affect them. This is especially true for business owners, as the most dramatic changes under the law are aimed at how businesses are taxed.

We’ve highlighted the most significant changes to business taxation that will likely affect you here, but to clearly understand the law’s full effects and take advantage of the benefits offered, you should contact us as your Creative Business Lawyer®, so we can meet with you and your CPA right away.

Reduced corporate tax rate
The new law sets a flat 21% tax rate for corporations. However, this flat rate only applies to C corporations, and not so-called “pass-through” businesses, which are taxed at the business owner’s individual rate.

Obviously, this would eliminate the competitive benefit of the pass-through status if the individual rates were higher than 21%, so the law was revised to provide a new deduction for pass-through entities, which is covered below.

New Deduction For Pass-Through Businesses
Owners of pass-through businesses—sole proprietorships, partnerships, Limited Liability Companies (LLC), and S corporations—now qualify for a straight 20% deduction on their taxable income. However, this deduction is subject to several restrictions and limitations, so not all pass-through entities will qualify.

For example, the deduction comes with a threshold amount that begins at $157,500 for individual taxpayers and $315,000 for married couples. If your income is above the threshold amount, you are subject to additional limitations and exceptions that are determined by your occupation type as well as wage and capital limits.

These limits and exceptions are extraordinarily complex and vary greatly depending on the type of business you run and where your business income comes from. Given the complexity of this new change, it’s crucial that you meet with us as your Creative Business Lawyer® now to discuss how this deduction affects your unique situation.

Limit corporate AMT
The corporate alternative minimum tax (AMT)—which was aimed at ensuring business owners pay at least some federal income tax—has been completely repealed.

Changes to tax credits & deductions
Under the new law, a company can only deduct interest expense of up to 30% of its earnings before interest, taxes, depreciation, and amortization (EBITDA). Any amount in interest expense beyond that amount is no longer deductible.

In 2022, the deductibility of corporate debt will be capped at 30% of earnings before interest and taxes but after depreciation and amortization expenses.

Enhanced Depreciation
Bonus depreciation has been expanded, and businesses can now deduct 100% of the cost of property acquired after September 27, 2017 and placed in service before December 31, 2022. And for the first time, bonus depreciation also applies to “used” property purchased by a taxpayer, meaning the property no longer needs to be first original use to qualify for bonus depreciation, as long as the property is “new” to the taxpayer.

Because the new law puts in place such sweeping changes, it’s vital that you contact us immediately if you want to ensure your business is structured in the best way possible to take advantage of (or not be negatively impacted by) the new tax laws.

By planning ahead and working with us as your Creative Business Lawyer®, we can help you implement tax strategies that could potentially save your business huge amounts of money. Don’t miss out on this opportunity—contact us today!

This article is a service of Christine Faulkner, Creative Business Lawyer®. We offer a complete spectrum of legal services for businesses and can help you make the wisest choices on how to deal with your business throughout life and in the event of your death. We also offer a LIFT Start-Up Session™ or a LIFT Audit for an ongoing business, which includes a review of all the legal, financial, and tax systems you need for your business. Call us today to schedule.

 

Posted in Asset Protection, Building Wealth, Business Article, Taxes | Comments Off on What Will the New Tax Law Mean for Your Business?.. The Christine Chronicles

Estate Planning Best Practices Gleaned From Famous Celebrity Deaths….Christine’s Family Wealth Secrets

Hello:

I am off and running this Monday.  I have my two backpacks and walking shoes and plan to make a decision about which backpack I will use in Spain. I plan to walk the Camino de Santiago from mid -May to mid -June, a 500 mile trek which has been a bucket list trip for almost 10 years. I have been lax in training and today committed to training in earnest commencing 3/15/18, 2 months before departure. We plan to walk on average 17 miles a day for 30 days and I need to walk about 4-5 miles per day in training and start building to the longer walks, 10-15 miles per day on the weekends. Considering that we will also be getting up early every day for the most part, I must start practicing getting up early (not looking forward to that part). I have two backpacks and have started training with them partially full but can’t decide which I like best. The Libra in me makes it difficult to decide, having to weigh the pros and cons of each very carefully. 

Do you avoid certain conversations because they make you uncomfortable? Perhaps you assume discussing estate planning with your parents is insensitive or would make them (or you) squirm? If so, take heed in the outcomes of other famous folks with a lot at stake in today’s newsletter.  Failing to plan usually has devastating impact on the people you love. Failing to review and make necessary updates to existing plans may lead to similar, unintended and possibly disastrous outcomes for your family.  True love and compassion for your parents and children requires the courage first to talk about the inevitable, death, and then taking action to create your own, well defined estate plan.  Alternatively, the best gift you can give to yourself and your siblings is a thorough plan that your parents create. You may need to be the driving force to help get your parents first educated about why planning is so necessary and assist them in finding an attorney who will take great care in creating the ideal plan for them.  Cava & Faulkner first educates clients on the “why”… why is a plan necessary, before creating a custom plan to fit the individual needs of each client. 

Christine

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Estate Planning Best Practices Gleaned From Famous Celebrity Deaths

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Discussing death can be awkward, and many people would prefer just to ignore estate planning all together. However, ignoring—or even putting off—such planning can be a huge mistake, as these celebrity stories will highlight. The next time one of your relatives tells you they don’t want to talk about estate planning, share these famous celebrities’ stories to get the conversation started. Such cautionary tales offer first-hand evidence of just how critical it is to engage in estate planning, even if it’s uncomfortable. The Marley Family Battle You would think that with millions of dollars in assets—including royalties offering revenue for the indefinite future—at stake, more famous musicians would at least have a will in place. But sadly, you’d be wrong. Legendary stars like Bob Marley, Prince, and Jimi Hendrix failed to write down their wishes on paper at all. Not having an estate plan can be a nightmare for your surviving family. Indeed, Marley’s heirs are still battling one another in court three decades later. If you do nothing else before you die, at least be courteous enough to your loved one’s to document your wishes and keep them out of court and out of conflict.

Paul Walker Died Fast and Furious at Just 40 While Fast and Furious actor Paul Walker was just 40 when he died in a tragic car accident, he had enough forethought to implement some basic estate planning. His will left his $25 million estate to his teenage daughter in a trust and appointed his mother as her legal guardian until 18.

But isn’t 18 far too young for a child to receive an inheritance of any size? Walker would have been far better advised to leave his assets in an ongoing trust, with financial education built in to give his daughter her best shot at a life well lived, even without him in the picture.

Most inheritors, like lottery winners, are not properly educated about what to do after receiving an inheritance, so they often lose their inheritance within just a few years, even when it’s millions.

Indeed, none of us has any clue when we’ll die, only that it will happen, so no matter how young you are or how much money you have, and especially if you have any children, don’t put off estate planning for another day. You truly never know when it’ll be needed.

Heath Ledger Didn’t Update His Estate Planning. Even though actor Heath Ledger created a will shortly after becoming famous, he failed to update it for more than five years. The will left his entire fortune to his parents and sister, so when he died unexpectedly in 2008, his young daughter received nothing, as she hadn’t been added to the will. Fortunately, his parents made sure their granddaughter was provided for, but that might not always be the case. Creating an estate planning strategy is just the start, be sure to regularly update your documents, especially following births, deaths, divorces, new marriages, acquiring new assets, or retiring. Many estate plans fail because most lawyers don’t have built-in systems for updating your estate plans, but we do, mostly because we don’t want this to happen to your family.

Paul Newman Cut Out His Daughters Too Though it’s a good idea to regularly update your estate plan, be sure your heirs know exactly what your intentions are when making such updates, or your family might experience significant  shock by not knowing why you did what you did. The final update to Paul Newman’s will, which was made just a few months before his death in 2008, left his daughters with no ownership or control of Newman’s Own Foundation, his legendary charity associated with the Newman’s Own food brand. Prior versions of Newman’s will,  and indeed his own personal assurances to his family, indicated they’d have membership on the foundation’s board following his death. Instead, the final version of his will left control of the foundation to his business partner Robert Forrester. Some allege that during his final months, when Newman was mentally unstable, he was secretly persuaded to change his estate plan to leave control of the Newman’s Own brand and foundation to Forrester. Newman’s daughters are currently fighting Forrester in court over the rights they believe they’re entitled to receive.

While changes to your estate plan may seem perfectly clear to you, make sure your family is on the same page by clearly communicating your intentions. In fact, if you are making significant changes to your plan, and your children are adults, we often recommend a full family meeting to go over everything with all impacted parties, and we often facilitate such meetings for our clients.

Muhammad Ali Made His Wishes Clear Boxing great Muhammad Ali wanted multi-day festivities to be held in his honor, including a large festival, an Islamic funeral, and a dazzling public memorial at the KFC headquarters in Louisville, KY. Given such elaborate plans, he worked with his lawyers for years, ensuring his wishes would be properly carried out. While you probably won’t need a multi-day festivity to celebrate your life, you may have wishes regarding how your life should be memorialized when you pass or how your care should be handled if you’re incapacitated. If you eat a special diet or want certain friends by your side while incapacitated, you have to make these wishes clearly known in writing or they very well might not happen. At the same time, you should spell out exactly how you want your remains cared for and what kind of memorial service, if any, you prefer.

As your Personal Family Lawyer®, we can help ensure your final wishes are carried out exactly how you want. But more importantly, we’ll help protect your family and keep them out of conflict and out of court in the event of your death or incapacitation. With a Personal Family Lawyer® on your side, you’ll have access to the exact same estate planning strategies and protections that A-List celebrities use, so don’t wait another day—contact us now to get started! This article is a service of Christine Faulkner, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Family Wealth Planning Session, ™ during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Family Wealth Planning Session and mention this article to find out how to get this $750 session at no charge.

Posted in Asset Protection, Beneficiaries, Blented Families, Celebrity, Death, Divorce, Estate Planning, Ezine, Financial, Guardianship, Healthcare Directives, Incapacity, Inheritances, Investing, Lawsuits, Legacy, Parenting, Probate, Same Sex, Success, Trusts, Wills | Comments Off on Estate Planning Best Practices Gleaned From Famous Celebrity Deaths….Christine’s Family Wealth Secrets

How to Deduct $5,250 of Your Adult Child’s College Tuition as a Business Expense… The Christine Chronicles

Hi:

Looking forward to this weekend so that I can get back in the groove of learning Spanish and training. I traveled with Cameron to Tempe last weekend for Daniel’s 21st birthday which was fun. We hiked the Camelback which made me realize how much further I have to go to really get in shape and disciplined to embark on the Camino in 2 months.  This is a busy time for me, both personally and professionally, and things are heating up in terms of business and fitting it all in. I’m working more weekends to keep on top of it all, but I am not complaining.  Life is good.

The next tax reform may have you scratching your head. As a business owner, you will undoubtedly benefit from new business deduction provisions. The good news is that, if you’re savvy, you can also now deduct a portion of your child’s tuition.  Not so fast though. There is a catch. You must hire your son or daughter as your employee…… that may cause you to question how much you are willing to deal with to get the deduction!  There are other provisions in the tax code that may or may not make this feasible for you. However, if you are looking for more deductions, this option may prove viable, depending on your situation.  Another feather in your cap, perhaps?

Until next time,

Christine

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How to Deduct $5,250 of Your Adult Child’s College Tuition as a Business Expense

With today’s tuition costs at astronomically high levels, paying for a child’s college education can feel like extortion. If your child is an adult, you may have decided that it’s up to him or her to pay for tuition, but if you do want to help your adult child (or grandchild) with college tuition, there is a way to do that—at least part of it—tax free.

One method is to hire your child as an employee and set up a Qualified Educational Assistance Plan, which allows employers to provide up to $5,250 per year, per employee, in tax-exempt tuition benefits.

Under Section 127 of the federal tax code, employers can offer this tuition assistance to employees (who don’t have to report it as income) and then deduct the cost of the benefit as a business expense on their company’s taxes. What’s more, the assistance includes any form of instruction or training that improves or develops the capabilities of an employee, not just job-related or degree programs.

Seems like a win-win, right? It definitely is, as long as certain requirements are met. First off, the money can be used for tuition, fees, books, equipment, and supplies, but it can’t go toward meals, lodging, or transportation costs. And the equipment and supplies (other than textbooks) aren’t eligible if the employee gets to keep them at the end of the course.

Beyond those stipulations, an adult child is eligible if he or she:
1. is age 21 or older,
2. a legitimate employee of the business,
3. doesn’t own more than 5% of the company, and
4. is not a dependent of the parent/business owner.

Additionally, the tuition reimbursement plan must be written up as a benefit available to all employees, and employees must be given reasonable notification of the availability and terms of the program. Moreover, no other benefits can be offered as an alternative—the employer cannot provide additional pay or other bonus options for employees who don’t use the educational reimbursement.

Outside of funding your adult child’s schooling, an educational assistance plan may also be an attractive benefit that can be used to recruit top talent to your team and help retain your current employees.

For help setting up tuition reimbursement for your employees—whether they’re your children, grandchildren, or non-relatives—and to make sure you’ve structured hiring your children or grandchildren properly to maximize tax benefits, contact us as your Creative Business Lawyer®. We’ll walk you through the legal, financial, and tax issues related to the Section 127 plan and discuss other business strategies that can be used to defray education costs and save on taxes.

This article is a service of Christine Faulkner, Creative Business Lawyer®. We offer a complete spectrum of legal services for businesses and can help you make the wisest choices on how to deal with your business throughout life and in the event of your death. We also offer a LIFT Start-Up Session™ or a LIFT Audit for an ongoing business, which includes a review of all the legal, financial, and tax systems you need for your business. Call us today to schedule.

Posted in Building Wealth, Business Article, Employment, Financial, Success, Taxes | Comments Off on How to Deduct $5,250 of Your Adult Child’s College Tuition as a Business Expense… The Christine Chronicles