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The Legacy Law Firm, LLC
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Protecting Your Legacy!
Protecting Your Legacy!

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Enjoy your Thanksgiving break and give this some consideration.
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Even if you lost a loved one years ago and discover that there is an asset out there in that person's name, you can still go through probate. There is not a time limit to be able to take care of someone's estate. Never assume it's too late.
Cristin Silliman
813-925-8083
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If you're starting a business with a partner, it's important to remember to put your business agreement in writing!
Let's say you start a partnership and put down the majority of the funds to start it and don't have a partnership agreement or a buy/sell agreement. What happens if your business partner suddenly decides she doesn't want any part of it anymore and wants out? What do you think happens to all the profits the business has earned? Even though you may have put up the majority of the funds, if it wasn't in writing, you may not be able to recover that from the profits. Or, instead of your partner deciding she wants out, what if she passes away? Now you may be stuck in business with her heirs.
If you're anxious to get started on opening your own business with a partner, don't put off the legalities. There is no guarantee you and your partner will still be friends or even cordial if things go wrong. A partnership agreement allows each of you to set out how the business will be managed, how profits and losses are to be dealt with, and how partner disagreement will be handled.
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Things to consider after you’ve started a new business
You’ve gone through the legalities of starting up your own business. You have your articles of organization/incorporation, you have your EIN, and you have your bank account.  What else do you need to be thinking about?
I recommend using an accounting software right from the beginning. This will make things a lot easier when you or your accounting attempt to file taxes quarterly, or at the end of the year. Some common software programs out there are Quickbooks, Quicken, Freshbooks and Wave Accounting.  Check each one out and see if there is a good match for you.  It will take some getting used to, but it will be worth it.
Research or check with an accountant for any business expenses that may be a tax write off. Expenses such as office furniture, gas, phone, etc may be deductible.
Are you going to accept credit card payments? There are so many options out there now that are not that difficult to start using if you want to be able to accept credit cards.  The square is a newer option, paypal, or a merchant account.  Consider the percentages that each option will be taking before making a decision.  Also, consider whether there will be a contract. 
Having a business plan is essential as well. This business plan will change as your business grows and you learn more about running your own business. But starting out with a 6 month, 1 year, 5 year and 10 year goal can give you motivation.  With each new goal there will be improved ways on advertising, marketing, spending to continue to grow the business. Starting out organized will keep you focused and less stressed. 
If you’re going to have several clients to keep track of, consider a client management software to keep track of names, addresses, phone numbers and emails.  Especially if you are going to have to check for conflicts. 
These are just a few things to consider after you’ve completed the legal steps of starting a business and are ready to get going.
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7 Facts about a Last Will and Testament in Florida
1.       A person must be 18 or older to create a will.
2.      There is a presumption of sound mind unless proved otherwise by a very high standard.
3.      Joint wills and holographic, or hand written wills, are not recognized by Florida.
4.      Florida does not recognize oral or death bed wills.
5.      You can set up a trust for a pet’s care known as the Florida Pet Trust.
6.      A lost will is presumed to have been revoked by the testator.
7.      Any provision providing for a spouse is revoked upon separation with the intent to be permanently divorced, or the marriage is otherwise dissolved.
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