Greenville Business Law Blog

Protect your business with your estate plan

If you are the owner of a small or large business, you need to protect it for your heirs after you are gone. The best way to do this is to specifically include your company in your comprehensive estate plan.

This can be the most vital portion of your estate plan because the financial stability of your family is likely linked directly to the ongoing success of your business. Whether you intend for the the business to continue under your heirs or wish for it to be sold to a third party and the proceeds split among the heirs, you need to get these intentions down on paper.

4 tips for running a business with your ex

You and your spouse started a business together. Then, even as the business continued to thrive, you decided to get divorced. You could both feel that the marriage was falling apart and you wanted to end things before they got worse.

Now what? That business is the main source of income for both of you. What do you do moving forward?

These are 3 documents to update upon divorce

Going through a divorce is hard enough, but one thing you can't forget about is the aftermath. There are many things you still need to do, and one of those things is updating your estate plan.

Good estate plans protect you and your heirs, but forgetting to update it could mean that your assets go to an ex-wife or ex-husband when your intention was not that. You should always review your estate plan, because you need to make sure it reflects the changes in your life.

Protecting your business when going through a divorce

The process of going through a divorce is always a stressful time, no matter what your profession. It forces you to face up to situations that you may have avoided for a long time, but because it forces you to confront challenges, it can also be a transformative process.

As well as the emotional challenges you are likely to be facing during the divorce process, you will have certain financial stresses, especially if you are the owner of a business. It is understandable that you will want to protect the value of your business and its future as much as possible. It is important that you take the time to understand how the divorce process works in South Carolina when it comes to the division of assets.

Starting a business? Consider these tips when writing your business plan

Starting a business is a big step. With so many issues to consider, how do you determine the first steps to take to put your company on the best path to success? One of the first things you need to do when starting a business is writing your business plan.

What to include in your business plan

How to protect your business in your estate plan: Avoid these mistakes

Not all business owners understand the benefit of having a well-drafted estate plan. Unfortunately, if your estate plan does not properly address potential issues that may arise or if you fail to have a plan altogether, your business could be at risk.

Your estate plan should protect your business in addition to protecting your wishes and preserving your assets. Your plan needs to be tailored to your specific situation. This is especially true when you own and operate a business. Because of this, it is paramount that you work with an experienced attorney to ensure your issues are addressed so you can prevent disputes and problems down the road.

How to protect your business during divorce

The thought of losing your business because of divorce is a fear for many people in South Carolina and throughout the country. Divorce can affect your entire life, including the success of your business and financial goals.

What to consider when you own a business

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The Law Offices of Truluck Thomason, LLC
1011 E. Washington Street
Greenville, SC 29601

Phone: 864-729-4952
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