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Colorado Estate Planning Blog

Who will continue your business trail?

Business succession can be an interesting and worrisome topic if you are an owner who is thinking of retirement in a few years. You have heard that wise owners will plan far in advance if they want to hand the keys of the company to their children. Unfortunately, although you know you need a plan, you have nonstop business demands as owner, president and CEO. Running the company takes your full attention, and succession planning gets shoved to the back-of-beyond burner.

All too often, the unthinkable happens. A permanently incapacitating illness strikes you, or worse, you suddenly pass away. You never made a succession plan; therefore, your business—the one you spent a lifetime of hard work to build--will move out of your family's control. 

Sponsoring Jefferson County Triad

Previous posts have touched on Karen's support of local and global nonprofits. Karen feels strongly about giving back to the community and has always been a vocal supporter, in particular, of her local senior communities. As an attorney emphasizing estate planning, Karen has the privilege of hearing many personal stories from clients about concerns and priorities among the senior citizens of Colorado. Her passion for senior issues is more than just professional, however. Promoting the physical and mental health of senior citizens is important for any healthy community.

Workplace Compliance Scam

With the dawn of a new year, scams and spam letters can be hard to separate from real correspondences about bills and taxes.

A business planning client recently received the attached letter, which states that the recipient business must pay to file a report in order to stay compliant with Colorado law. Because the letter quotes Colorado business law in the first few paragraphs and directly references the client's relationship with the Law Offices of Karen Brady, it's easy to mistake it for a legitimate government correspondence. Further inspection, however, reveals it as an unnecessary service at best and scam at worst. With our clients' permission, we would like to share some of the warning signs and preventative steps to help you stay away from scams in the future.

What Do Lawyers and Journalists Have in Common?

Most of you have likely heard of the 5 Ws in the context of journalism and problem solving. The answers to these questions, when applied to contracts or legal documents, can help minimize disputes and ensure all parties are satisfied. For this reason, Karen always advises her clients to review all contracts--including, but not limited to, estate planning documents--for the 5 Ws.

Do you have these qualities for a successful startup?

When you have an idea for a product or service, that passion can inspire you to start your own business. How do you turn it into something successful?

The percentage of startups that fail is high, but that does not mean that failure is inevitable. You actually have more control over your success than you may think. It all boils down to having the right qualities, which entail more than just a vision and business skills.

Crowdfunding

Although Giving Tuesday may officially be over, crowdfunding and charitable giving continue to impact both those who donate and those who benefit from the growing accessibility of online donations. While this may be an unusual topic for this blog, those of us at Law Offices of Karen Brady believe that our impact on our community is just as important as the connections we make with our clients.

Pros and cons of forming an LLC in Colorado

As you set up your business, one decision you need to make is its formal organization. Colorado small businesses generally opt to register as corporations, general partnerships, limited partnerships or as a Limited Liability Company; businesses providing certain types of professional services may instead form a professional corporation, or a PLLC.

Either type of business organization presents its own unique advantages and disadvantages. Knowing the basics can give you a start in evaluating which best suits your circumstances and business goals.

How to make your business more attractive to buyers

What do you do before you sell a valuable asset, such as a house or car? You take care of repairs to get it in the best condition, share beautiful photos and highlight all its desirable qualities.

Selling a business has a similar approach. You need to get your company in excellent condition inside and out and show how it is a better option than the rest out there. Here are a few concrete ways to make your business more attractive to buyers.

Alyssa Gilderhus' Escape from Mayo Clinic Brings Guardianship into National Spotlight

guardianshipSometimes the news brings into focus the need for estate planning even when you "don't have an estate." This news story about a teen who alleges she was denied the ability to choose her caregivers or even leave the hospital is one example. It happened last year and did not happen here in Colorado, but these sort of things happen in too many places too often.

Attracting and Keeping Good Employees in Colorado

There has been much in the news recently about Colorado's low unemployment rate. This is good for workers, but hard on business owners. As this Denver Post article points out, businesses large and small have had to become creative and aggressive in their hiring practices.

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Law Offices of Karen Brady, P.C.
5400 Ward Road, Building 5-170
Arvada, CO 80002

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