In closely-held, and especially in family businesses, it is critical to have agreed written job descriptions for all key people and to regularly evaluate and record performance.
Asset Protection Planning includes using appropriate entities to compartmentalize liability, review of insurance coverages, appropriate decisions about titling and transfer of assets, use of spendthrift and legacy trusts.
Even though “avoiding probate” is desirable and to best do that every client needs a will, a trust, a durable power for health care and a living will. These are essential base-line estate documents that should be reviewed annually. Estate planning includes a careful analysis of jointly-owned property, insurance policies, asset beneficiary-designation forms, and payable on death contracts. That analysis is essential to see that the client’s objectives are accomplished.
A litigation risks analysis can reduce your litigation risk to a minimum through a careful review and through carefully-drawn business documents that provide for alternative methods of resolving disputes, and by accurate well documented business communications. A written litigation plan, that includes benchmarks for decisions about the litigation, is essential to successful cost-effective litigation results.
The best litigation tactic is to avoid it. Litigation in today’s court system is crushingly expensive, and if required, must be carefully managed and reserved only for far-ranging and significant matters.