Estate Planning - 3 Important Things For Business Owners to Consider

If you are a small business owner, chances are you have put your all into getting where you are now. You have sacrificed time, money, heart, and more to build your business into a success, and you continue to work to maintain that success and a reputation of integrity. Have you ever thought about what would happen to the business you have built up if something were to happen to you? What about the livelihoods of your employees? Although many small business owners don’t think about it, estate planning for your business is something you should take care of in addition to your personal estate plan. If you haven’t thought about making an estate plan for your business at Lake of the Ozarks, this blog will talk about three things to think about to make it easier for you when putting your plan together.

Someone to Lead in Your Stead

Sometimes a business owner's spouse or other family member may be highly involved in the business, and in a position where they can step up and run the business. Sometimes there are partners that are more knowledgeable about the business and may be a better choice. If neither of these are a practical option, you want to think of another person who would be capable of running your business and talk to them about that possibility. Then you’ll want to make a plan for what that transition would look like. Your successor will need access to bank accounts, financial information, online accounts, technical information about the business, and more. Once that transition plan has been created, be sure to put it in a place that it will be accessible along with your estate plan.

Ownership

Sometimes, it makes more sense for the family to sell the business rather than own it, if they are not feasibly able to take over the leadership role. In that case, having information for valuation of the business, as well as important information to make it easier for the next business owner, and therefore a more appealing business for a buyer should be part of your estate plan. If you have partners who you believe would be interested in stepping into the leadership role, you can provide an option for them to buy your portion of the business out. It is not uncommon for business partners to take out life insurance policies on each other so in the event one passes away, there will be funds to allow for that type of buyout. If you believe your family would benefit more from a cash payout for your portion of the business, you could provide for that option if no one is able or interested in learning how to run your business and taking on that responsibility. 

Probate and Tax Timelines

It’s important to be aware that there are tax implications when the owner of a business dies, and that tax burden comes with a timeframe. Unfortunately, some businesses find themselves forced to liquidate in order to cover that tax burden within the required deadline. It is a sad way for business to end, and it does not have to be that way. If you prefer that your family or business partners have the opportunity to take over the business, let's talk about an estate plan for your business. 

Business Estate Plans - Protecting Your Legacy

As business law attorneys in mid-Missouri, we know that having an estate plan is not always intuitive for small business owners. So we wanted to let you know why it is important, give you a few things to think about, and offer you a free initial consultation at Gibbons Law Firm. Just call our office at (573)348–2211 to schedule an appointment with one of our estate planning attorneys in Lake Ozark. We are capable of helping you with all your business legal needs, and very familiar with the process necessary to get this important plan in place for your business and your peace of mind. We also have regular legal information and helpful tips on our social media channels if you’d like to hear more. We have links below for your convenience, feel free to follow us!

Remember, your initial consultation with Gibbons Law Firm is always free.

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Gibbons Law Firm

2820 Bagnell Dam Blvd, Suite B4

Lake Ozark, MO 65049

(573) 348-2211

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Family Law Services … with Compassion

Family law can encompass a lot of different areas or situations. But no matter the situation, it is usually pretty emotional and can be high stakes because it involves your family. At Gibbons Law Firm, we understand how important it is to you to achieve the best possible outcome, and Roger Gibbons has helped countless families through similar situations successfully. His skills for clear, accurate communication and diffusing high emotions are a tremendous asset when it comes to family law. If you would like to learn more specifically about how our law firm at Lake of the Ozarks can help you in the diverse area of family law, just read on.  

Parental Rights

There are sometimes situations that require a family to establish or terminate a parents legal rights. For instance, if a mother and father are unmarried, the father will have to establish paternity in order to have any parental rights. That is a situation in which you will want the help of a skilled family law attorney in mid-Missouri to help you through the process step-by-step. Similarly, if a parent has become abusive, or the family environment has become so dangerous or neglectful it may be necessary for the other parent to petition for that parent’s rights to be terminated for the safety of the child. In order for that to be successful, certain specific criteria must be met. A knowledgeable and skilled attorney is able to investigate and negotiate that case and be a solid asset to you as you are going through a very sad and stressful situation. 

Adoptions

Family law is not always sad, in fact sometimes it can be quite joyous. But it is still usually emotional and high stakes, like in the case of adoption. Fear of the unknown can play a big part when it comes to adoptions, unless you have an experienced attorney to help you understand what to expect and what to do. You already love this child and consider him/her a part of your family. You want them to be safe and well cared for and you can’t imagine your life without them and vice versa. When you hire Roger Gibbons you can have the confidence of knowing he is very familiar with the legal process regarding adopting a child in Missouri and he will be there to look out for you and the child you are adopting and effectively negotiating and advocating on your behalf. 

Divorce

Unfortunately, over half of all marriages end in divorce. That means a lot of families are impacted by divorce and how things are handled legally during the process. A divorce can initiate a need for numerous legal decisions such as child custody, child support, division of assets and property (which can affect where the kids will live and more), and even spousal support (which can affect a child’s standard of living with that parent). Having a compassionate divorce attorney at Lake of the Ozarks who is able to listen and negotiate is key. Having one that is willing to litigate if necessary for a successful outcome is also very important in a divorce case.

Prenuptials

Prenuptials are not always needed, but in some cases they can bring peace of mind and prevent some unknowns. With blended families, prenuptials can make a lot of sense and are becoming more standard these days. If a couple already have teenagers or adult children from previous relationships, prenuptials can be about making sure sentimental items and heirlooms go to people who are related and care about them rather than to people who have no attachment to them whatsoever. If you are wondering if prenuptials might be helpful or warranted in your situation, we would be happy to sit down with you for a free initial consultation to talk with you about your options. 

Compassion, Communication, and Advocacy! 

When a family is going through any of the above circumstances, they should not have to do it alone. Nor should they. When the outcome is so important, you deserve to have the knowledge and tenacity of a skilled attorney who cares. Roger Gibbons is that attorney and that is why he offers free initial consultations. Please don't hesitate to take advantage of the opportunity to learn more about your rights and best course of action regarding your family law case in central Missouri. If you found this blog helpful and would like to hear more from our law firm in Lake Ozark, we invite you to use the links below to follow us on social media! 

Remember, your initial consultation with Gibbons Law Firm is always free.

Your Trusted Legal Resource

Gibbons Law Firm

2820 Bagnell Dam Blvd, Suite B4

Lake Ozark, MO 65049

(573) 348-2211

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3 Tips to Help Your Child Custody Case - Dos and Don’ts From Gibbons Law Firm

Child custody can be one of the most important factors in a divorce for many parents. The idea of not being able to see your children or your children not being able to see both parents when they want and need to is unthinkable. Having a child custody attorney that can walk you through the process for the best possible outcome is of utmost importance. At Gibbons Law Firm, we work with people in their child custody cases at Lake of the Ozarks all the time. We know there are certain things that will help their chances of being awarded custody, and other things that will be detrimental. So, if you are trying to get custody of your child, we have three things in today’s blog that can help you improve your chances.

1) Fairness & Cooperation

Going through a divorce can be a time when you get reminded of all the reasons that you and your spouse are splitting up. But thinking of all those reasons will not help you through your child custody case. The more amicable and professional you can be when it comes to interacting with your soon-to-be ex, the better it will look to the courts. For example, you want to demonstrate that you’re going to be fair when it comes to sharing time with the kids, and that you will be able to work with your future ex in raising the children in separate homes. This also means keeping it positive around the kids and not putting them in the middle. It is very unfair to a child to hear one of their parents criticize the other or try to get them to take sides. So keep it professional, keep it as positive as possible, and keep the end goal in mind.

2) Keeping Your Cool

Divorces can bring out a lot of emotions, especially when it comes to the children. Your job is to control that emotion and not let it spill over and be witnessed by others who can use it against you. Don’t talk about your divorce on social media, don’t criticize your ex in front of family and friends, be courteous and avoid demonstrating anger or aggression. If the courts discover a pattern of behavior that shows abuse or aggression or addiction in either parent, that will definitely be a factor when child custody is determined.

3) Having a Stable Home Life

Children of divorcing parents face a lot of transition and understandable feelings of loss. The more stable their home life can be with the custodial parent, the easier it will be for them to work through this time in a healthy manner. Most often, kids will want to remain in the same area, so they can maintain relationships with family members and friends. They may not want to have to move to a new school. The courts will want to avoid unnecessary disruption in their lives considering they’re already going through so much. The courts will also want to see that you have a suitable income, that you are nurturing and active in your child’s life, and that you will be involved in things like parent teacher meetings, sports, helping with homework, and just being there for your child in general. So, as you are planning on where you will move and what your next step will be, consider your home environment and what it needs to be for your children so you can help your chances of getting custody of your child.

Gibbons Law Firm Cares About Your Family

We know how important child custody cases are, and we care about the outcome for you and your family. If you are going through a divorce and need advice from our mid-Missouri divorce attorneys on how to improve your chances of being awarded child custody at Lake of the Ozarks, reach out to our law firm in Lake Ozark. Your initial consultation is free, and we are happy to sit down with you to inform you of your legal rights and help guide you as you make these important decisions. We want the best possible outcome for you and your kids, and we are here to walk with you every step of the way. Give us a call today, and be sure to follow us on social media if you’d like to hear more tips and helpful information. We have links below you can use to follow us on your favorite platform.

Remember, your initial consultation with Gibbons Law Firm is always free.

Your Trusted Legal Resource

Gibbons Law Firm

2820 Bagnell Dam Blvd, Suite B4

Lake Ozark, MO 65049

(573) 348-2211

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Common Accidents in the Summer Leading to Personal Injury - and How to Avoid Them!

Summer is in full swing here at Lake of the Ozarks and that means visitors and locals alike are all spending more time on the roads and on the lake. It’s a time to make memories and have fun with family and friends. But it is also a time when there are more accidents and personal injuries. At Gibbons Law Firm, we know that nobody wants to suffer a personal injury at Lake of the Ozarks, so wanted to share with you three common ways that people are injured every summer at Lake of the Ozarks. If you would like to know how to stay safer and improve your chance to avoid sustaining or causing an injury this summer, this blog explains.

Boating Accidents

We are certainly in the middle of peak boating season right now at Lake of the Ozarks. It is an interesting scene made up of a variety of types of boats, a variety of lake activity, and a variety of driving skills and focus. Between the fishermen and women, the wake borders, the families pulling kids on towables, the cruisers, and the speed boats, there’s a lot going on out there. Every year unfortunately people get hurt, and it can occur a lot more often when alcohol is involved. That means some injuries can easily be avoided by planning ahead and having a designated driver. There are even boat captain services where you can hire someone to pilot your boat for you. The last thing you want to have happen while you’re out having fun is to be injured or to injure someone else. So keep it safe, look out for yourself and others, and don’t forget to make sure you and everyone else has their life jackets on just in case. 

Motorcycle Accidents

The Lake of the Ozarks is a prime destination location for motorcycle enthusiasts, and for great reasons. It’s a beautiful area with fun roads that twist and curve around in the beautiful Ozarks landscape. But there are also a lot of drivers here in the summer that are not familiar with the area, and the same scenery that is so fun to drive can create blind curves and hills that can be very unforgiving. It is always important to look out for motorcycles, and also for motorcycles to drive defensively and wear their safety gear. The damage done when a car or truck collides with a motorcycle is unimaginable. Again, these accidents or more likely and can be more devastating when alcohol is involved. Alcohol slows reaction time and can also cloud our judgment and even our visual perception. So don’t drink and drive, and look out for our friends on motorcycles.

Car Accidents

As we mentioned, the roads in the Ozarks have the beautiful hills and curves we enjoy so much. But we also have areas where there are no shoulders on the road, and areas that are hard to see around the hill or corner. Not to be redundant, but whenever alcohol is involved, once again, it can contribute to a larger number of car accidents at Lake of the Ozarks. It may seem like we are repeating ourselves, but the fact is, being diligent about drinking responsibly can prevent so many summertime accidents at Lake of the Ozarks.

Have a Designated Driver, and Know Your Rights!

At Gibbons Law Firm, we have represented countless victims of personal injury accidents at Lake of the Ozarks. We are painfully aware of how devastating an accident can be for someone who is injured, and how many ways their life changes forever because of that injury. So, we wanted to share some tips with you and help remind you of how important it is to drink responsibly. We also want you to know that if you or someone you know has been injured by someone else’s negligence, you deserve to know your rights and have someone that is going to stand up for you as your advocate. We understand it can be confusing and overwhelming to know where to start. That is why we offer free initial consultations, and we are happy to sit down with you and explain what your options are. Just call our law office in Lake Ozark to make an appointment. If you would like to hear more tips and helpful information from our personal injury attorneys at Lake of the Ozarks, please use the link below to follow us on social media.

Remember, your initial consultation with Gibbons Law Firm is always free.

Your Trusted Legal Resource

Gibbons Law Firm

2820 Bagnell Dam Blvd, Suite B4

Lake Ozark, MO 65049

(573) 348-2211

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