In part one of this series, we discussed how Tony Hsieh became an Internet pioneer, starting two wildly successful companies, LinkExchange and Zappos, the latter of which he sold to Amazon for $1.2 billion. It was as CEO of the online shoe brand Zappos where Hsieh developed his vision for life and business: delivering happiness. A Double Life Hsieh outlined this mission in the 2010 book, Delivering Happiness: Read More
What is a Heggstad Petition Used For?
For all the usefulness of a living trust (revocable and irrevocable) in the context of estate planning, many planners, unfortunately, fail to transfer the title of their assets to the trust after they create it. Living trusts allow property and assets to be distributed to beneficiaries in an efficient manner (outside of probate court) when the trustor passes away or becomes incapacitated. What can you do if a Read More
Former Zappos CEO Tony Hsieh Dies Without A Will—Part 1
On November 27th, nine days after being pulled unconscious from a house fire in a beachfront home in New London, Connecticut, Tony Hsieh, the former CEO of the online shoe retailer Zappos, died due to complications of smoke inhalation. Hsieh, who was single and had no children, was just 46. Although the cause of the fire is still under investigation, law enforcement ruled his death accidental. At the time of Read More
New COVID Stimulus Funding Available For Business Owners in 2021—Part 2
The Consolidated Appropriations Act 2021, which was signed into law on December 27th, 2020, provides another $900 billion in funding for coronavirus relief for individuals and business owners. The new bill serves as an expansion of the 2020 CARES Act, offering additional funding and a number of key changes to both the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program. Although the Read More
New COVID Stimulus Funding Available For Business Owners in 2021—Part 1
The Consolidated Appropriations Act 2021, which was signed into law on December 27th, 2020, provides another $900 billion in funding for coronavirus relief for individuals and business owners. The new bill serves as an expansion of the 2020 CARES Act, offering additional funding and a number of key changes to both the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program. Although the Read More
Why Form a Family Limited Partnership in California?
A business partnership, of which there are several types, is an attractive option for many business owners who know others who share their entrepreneurial visions. There are two main types of business partners — general and limited. General partners have voting rights regarding the direction of the company and are typically charged with managing the day-to-day of the partnership while limited partners do not enjoy Read More
4 Myths and Misconceptions About Business Entities
Setting up the proper legal structure for your business may seem like a boring detail that you won’t need to spend much time on. But the truth is, selecting the right entity for your company is one of the most crucial decisions you can make as a business owner. That said, there are all sorts of myths and misconceptions surrounding business entities that can cause confusion and lead to costly mistakes for those who Read More
Remarrying In Midlife? Avoid Accidently Disinheriting Your Loved Ones
Today, we’re seeing more and more people getting divorced in middle age and beyond. Indeed, the trend of couples getting divorced after age 50 has grown so common, it’s even garnered its own nickname: “gray divorce.” Today, roughly one in four divorces involve those over 50, and divorce rates for this demographic have doubled in the past 30 years, according to the study Gray Divorce Revolution. For those over age Read More
Start Planning Now to Prepare Your Estate for a Possible Democratic Sweep—Part 2
No matter who you vote for on November 3rd, you may want to start considering the potential legal, financial, and tax impacts a change of leadership might have on your family’s planning. As you’ll learn here, there are a number of reasons why you may want to start strategizing now if you could be impacted, because if you wait, it could be too late. In terms of financial, tax, and estate planning, it’s almost Read More
Tax Attorney vs. CPA: What’s the Difference?
When you’re dealing with something as complicated as taxes, you need a specialist who can meet your needs with surgical precision. Even then, not every tax professional is the same. Take, for instance, certified public accountants (CPAs) and tax attorneys; while both of these professionals have deep knowledge of intricate issues, they occupy distinct roles for taxpayers. In this blog, we’ll dive deeper into the Read More
