Timeshare? Beware!

Decades ago, or perhaps more recently, …

You were on vacation and were offered the opportunity to view a wonderful timeshare development. The setting was idyllic and you envisioned yourself every year enjoying a week’s bliss surrounded by extensive amenities and fine weather.

Fast forward, and for the past few years neither you nor a family member has been able to travel to your timeshare. The annual maintenance fees have escalated and an assessment is looming for repair or replacement of the timeshare amenities.

During covid, many timeshare owners have considered ‘giving up’ their timeshare.

Perhaps you have inherited a timeshare, but do not want to take on the annual costs for the maintenance or possible assessments of the timeshare.

This is an issue facing many families who signed on to the timeshare principle.
When you want to be ‘released’ from the responsibilities of owning a timeshare, the process may not be easy or straightforward.
Timeshare ownership involves contractual obligations. Depending on the contract, those obligations might/could be passed down to beneficiaries of that timeshare contract.

Some articles suggest that simply ‘giving back’ the timeshare is a solution. Others recommend allowing the timeshare ownership to go into default. Still others write that a beneficiary may renounce the obligation of inheriting.
Whatever the terminology and recommended methodology -(each might have a unique consequence rather than a solution) – some of the methods recommended are:
“cancel” your timeshare; stop paying maintenance fees; renounce the inheritance; seek a “loophole” in the timeshare contract; in perpetuity clauses; “abandonment” of a timeshare; removal of family members on a timeshare deed; disclaimer of interest; giving back the timeshare…

Before you leap into any method – It is advisable to first review the timeshare contract that was signed; then seek the advice of a professional to determine if you will be able to no longer have the obligation of paying for the timeshare.
If you are considering a timeshare, have the timeshare contract and all related documents reviewed by your own legal professional before you sign. Your heirs will thank you.

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The Perils of Personal Guarantees

A personal guarantee is a promise made by a person or by an organization (known as the guarantor) to accept the responsibility for some other party’s debt (the debtor). If the debtor fails to pay, then the guarantor becomes legally responsible for the debt, based on the terms of the document that was signed by the guarantor.

Personal Guarantees are in writing. They are often seen in lending situations where the lender requires a personal guarantee by the owner of a business. The lender may require this due to offering reduced loan terms or if the business does not have adequate equity.

If the business defaults on the terms of the loan, then the lender (usually a bank) would call upon the personal assets of the owner of the business (or someone who signed the personal guarantee) to settle the company’s outstanding debt.

According to an article in smartasset.com titled “How Business Owners Can Protect Their Assets…” by Rebecca Lake, Sept. 27, 21019 – it is best to avoid personal guarantees whenever possible.
If a business owner must make a personal guarantee, then try to negotiate a cap on the personal assets that you are placing at risk. Another option is to offer specific collateral instead of a personal guarantee.

In a small business loan situation the business owner is basically laying their own finances on the line to start the business.

Another type of guarantor which is common is the third party guarantor. Examples of this would be when a parent (or grandparent) co-signs on a child’s car loan or on their student loan. In this case the parent or grandparent becomes the third party guarantor. If you want to help your child to buy a car, attend college or buy their first home, there may be other mechanisms rather than signing as a third party guarantor. Ask a professional about the alternatives.

Above all, if you have questions about what you are signing with respect to a personal guarantee of your assets, consult a professional to reviews the terms of the document.

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One Word Makes a Difference…’if’ versus ‘when’

Small business owners may deal with contracts almost on a daily basis.  No surprise that for a new small business owner, the issues surrounding contract law can be a perilous journey.  In particular, there are those statements within a contract that can hinge on one word…one such example is what was known as the “pay- if- paid” clause (rather than the “pay –when- paid”)- used in construction contracts.

One very simplified example would be – a general contractor (GC) who waits for payment from a homeowner on work that the GC is providing.  “When” the homeowner pays the GC, the GC can then pay any subcontractors (that subcontractor may often be a small business owner).  The “pay-when-paid’ is reference to the timing of payments.

What happens in the situation – the homeowner never pays the GC?  Is the GC liable to pay the subcontractor? “If” the homeowner pays the GC, then the GC will pay the subcontractor.

Some courts, in the past, have set forth that there exists ‘freedom of commerce’ between commercial parties.  In other words, the GC and the subcontractor are ‘free’ to either enter the contract or not.  The subcontractor does not have to enter into any agreement with the GC if the subcontractor believes that he will not be paid.

The subcontractor does not wish to assume the RISK of not getting paid after they have performed services. 

In the event that a small business owner ‘needs’ the work, then they are more likely to take on the risk in the hope of being paid.  The decision is theirs; however, the small business owner is best advised to educate themselves about when they are taking on the risk and include provisions for payment within a set schedule. The subcontractor should be fully aware of how they are assuming a ‘payment risk’ in the event that the GC is not paid.

In addition, simply put, as a small business owner, be aware of what risk you are taking on as a ‘subcontractor’ of services.  Also, you would need to know what agreements have been signed between any ‘GC’ and the homeowner (or other parties), since often those agreements have ‘flow down’ provisions…meaning that if there was a waiver signed between the GC and homeowner, that waiver can be incorporated by reference to the subcontractor agreement.

Subcontractors should remember that such waivers can be stated in the owner’s contract with the general contractor, and then be incorporated by reference into the subcontract through any “flow down” provision.

Note:  The above only touches upon the topic.  It is beyond the scope of this article to identify all individual circumstances.  Suffice it to say that contract law is not simple…and construction contracts can be complicated. 

Also, keep in mind that different states have different laws governing construction contracts.

Much is determined by the legal ‘language’ of the written contract. And remember – “Oral agreements aren’t worth the paper they’re not written on.”

Bottom Line:  When in doubt, ask qualified legal advice before signing a contract.  Know the risks you are assuming.

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Buying a Condominium and Home Owner Associations

While purchasing a condominium is similar to buying any other piece of property; there are important differences.  You always need to perform due diligence when acquiring property (either for investment/rental or to live in/owner-occupied). 

If you are attempting to handle the purchase without a real estate agent or legal professional, there can be pitfalls, if you are not experienced in home/property acquisition. 

A condominium is a unit within a ‘shared’ building or community complex, sometimes referred to as a planned community.

Some very large communities have a ‘mix’ of residential types:  condo buildings; single family homes and ‘duplexes/four-plexes’/townhouses/villas (attached units) and high rises.

There are common areas of the community that may contain amenities such as grass areas/parks; playgrounds; pool(s); fitness center; tennis courts; beach area; golf course; restaurants, etc.

Often condos have separate parking spaces and storage areas for each unit. Determine where those are –  since occasionally a previous owner may have ‘leased’ a right to the parking or storage. In some urban areas, parking may be accessible only through a concierge/valet type service.

Every condominium (condo) community is different with a different set of Rules and Regulations (for example some communities will restrict –  pet ownership based on size and number of pets; placement of antennas and color of paint on exterior; use of terraces; smoking; some rules restrict the rental of units, and many communities are now seeking the restriction of very short-term rentals. 

These rules are within the community Covenants, Conditions and Restrictions – CCRs for short.  The Declaration of CCRs is a legal document and yes, it is legally binding.

Rules and Regulations can change based on HOA future rulings. Be aware of your voting rights within the HOA. Infraction of HOA rules may be subject to financial charges.  Obtain and Read the HOA guidelines/ CCRs, including  all recent addenda/changes.

Mortgages for a condo can differ from a single family residence e.g. some lenders do not write mortgages for condos or require that 80% of the units in a community are owner-occupied. Some lenders charge a higher rate of interest for income property.

Often, planned communities have Home Owner Associations (HOAs); along with professional management companies as well as maintenance companies. Some very large communities may have directors for each ‘phase’ of development.

Some very basic elements/issues of purchasing a condominium (or property within a community):

Financial statements – ask for a copy and read carefully. Ask for most recent several years to compare how fees are escalating. If you need help, ask a professional financial person to review the financial statements. A rule of thumb is that the more financial data you can obtain prior to making a purchase decision, the better.

Reserves – those are amounts set aside for major projects. Some buildings/communities in recent years are applying a “monthly reserve replenishment fee” to the HOA statement.

Insurance – for the community to protect from disasters as well as from liability lawsuits against the building/community. 

Special Assessments – determine whether there will be a special assessment for any major project that could not be funded from the Reserves and also how many special assessments were done in the past.

Clear title – this is particularly important for a condominium to determine if there are any liens or past due amounts/fees assessed for the unit e.g. unpaid home owner association fees or taxes. You will need title insurance for the property.

Estoppel – a document disclosing whether there are any past due amounts from previous owners and making certain that new owner will not be held liable for those amounts.

Depreciation – for an older community, consider the age of facilities; equipment; pools, etc.  and whether those facilities are planned for renovation in the future.

Maintenance – look at common areas with a critical eye to maintenance issues, like cracked streets, sidewalks, and old or ill-maintained facilities like tennis court surfaces and gym equipment, pools and hot tubs. In some cases the community ‘shares’ costs of road maintenance into the community with the city/county/local government.

Shared fence – for some units within a home owner association there may be a shared fence between units. Determine who is responsible for maintenance.

Rezoning issues – is there an empty/undeveloped lot adjacent to condo/community? How is it zoned?

Flood issues – certain cities along the coast are prone to flooding. Make sure the community has adequate insurance coverage for perils

Gated Community – over recent years, gated communities (restricted access) have become popular.  Consider the costs of maintaining a ‘manned’ security gate i.e. three individuals to staff each gate access in a 24 hour period, or a company who provides such staffing.  (Those costs are incorporated into the HOA fees). Also, some communities have decided to withdraw ‘staffed’ gates in favor of a less expensive automatic gate access system (using security codes). If you are buying a property because of the 24- hour ‘manned’ security, make sure there are no immediate plans to do away with the system.

Security Patrols – some larger communities hire private security companies to provide security patrols within the community grounds. This cost is added to the monthly HOA fee.

Restaurants and Golf Courses – some very large communities have one or more restaurants within the community and some have a golf course.  Determine whether there are required membership fees of such amenities.  Determine who owns/manages the restaurant or golf course and if the community is responsible for any ‘shared’ costs related to those amenities.

Affordable Housing – in some states, the developer of a large community was required by local government to build ‘affordable housing’ incorporated into the planned community.  Determine if such affordable units are part of the community and what portion of shared expenses are attributed.

Future Plans – assess plans for new roof or new air conditioning units that may require a special assessment.

Building code violations – if the individual condo unit has been renovated, make sure all renovations were done to city/county/local government code. Ask for documentation.

New Community – if the community is new there may not be a history of fees.  The developer may be ‘in charge’ of the community, until such time as the properties within the community are sold.  It sometimes happens that the developer will have very low monthly “HOA” fees to attract buyers.  When the developer leaves, the fees increase substantially.

This is just a basic short list of issues surrounding the purchase of a condominium or property within a ‘planned’ community.  It is beyond the scope of this article to determine any individual situation.

Remember, condominiums include ‘shared’ use areas and amenities…financial responsibilities will fall to each condo unit owner to support the community.

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Nursing Home Agreements/Contracts

An agreement/ contract with a nursing home on behalf of a loved one is like any other written agreement/contract. It will be in writing, enforceable and defines – among other things – the legal responsibilities and rights of each party.  Before signing any agreement/contract one should read it thoroughly and if in doubt it would be advisable to have it reviewed by an attorney.

Many contracts contain a ‘forced arbitration clause’. (Other terms used are binding arbitration, mandatory arbitration, as opposed to “voluntary arbitration”)  The use of forced arbitration clauses in contracts has been a hot topic for a long time.

The National Consumer Law Center (NCLC) recently posted an article titled: Forced Arbitration Clauses in Nursing Home Contracts May Put Older Adults at Risk

According to the NCLC article (referencing a New York Times article): “ In essence, a person signs away their constitutional right to their day in court and instead agrees to an arbitration hearing for any grievance”.

Under forced arbitration the company can choose the arbitrator and sets other terms of the arbitration hearing,….”

The Centers for Medicare & Medicaid Services (CMS) had announced a proposed regulation restricting the use of binding arbitration agreements by nursing homes and importantly would ban admission to a nursing home conditioned on signing a binding arbitration agreement. (See Federal Register below)

By accessing the link below of the National Consumer Law Center (NCLC), you can read at length the webinar documents entitled: Nursing Home Admissions Agreements: A Discussion of the Unfair Terms in the Agreements Presented to Elders on Entering a Nursing Home

Eric Carlson, Directing Attorney, National Senior Citizens Law Center and David H. Seligman, Irving Kaufman Fellow, National Consumer Law Center Jessica Hiemenz National Consumer Law Center (April 2, 2014) https://www.nclc.org/images/pdf/conferences_and_webinars/webinar_trainings/presentations/2013-2014/nursing_home_admissions_agreements_webinar.pdf

 Additional Reading:

 Modern Healthcare. An end to mandatory arbitration agreements in nursing homes? By Lisa Schencker | (July 17, 2015_ is an article that thoughtfully presents the issue of voluntary/mandatory/binding/forces arbitration agreement clauses in nursing home residential agreements.

  Deal Book – Pivotal Nursing Home Suit Raises a Simple Question: Who Signed the Contract?      By Michael Corkery and Jessica Silver-Greenberg (Feb. 21, 2016)

Bifocal. A Journal of the ABA Commission on Law and Aging. Volume 36: Issue 6. Should CMS Prohibit Arbitration in Nursing Home Admission Contracts? By Erica F. Wood                  About the Author: Erica Wood is Assistant Director at the ABA Commission on Law and Aging in Washington, DC.

The Federal Register  – Medicare and Medicaid Programs; Reform of Requirements for Long-Term Care Facilities A Proposed Rule by the Centers for Medicare & Medicaid Services on 07/16/2015

  FINAL WORD: As with any other written agreement/contract, it is advisable to have the contract reviewed by an experienced attorney prior to signing the document so that you can retain your legal rights.

 Working to Preserve Your Wealth and Protect Your Future…in a Constantly Changing World

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Your Vacation and Timeshares

You are on vacation and have just been offered the opportunity to own your very own ‘piece of paradise’ in the form of a vacation timeshare. This offer might come from the vacation resort itself or from a ‘reseller’.

Follow the advice of the Federal Trade Commission and take the time to do your due diligence. From the government website:  www.consumer.ftc.gov about timeshare –

“Contract Caveats

Before you sign a contract with a reseller, get the details of the terms and conditions of the contract. It should include the services the reseller will perform; the fees, commissions, and other costs you must pay and when; whether you can rent or sell the timeshare on your own at the same time the reseller is trying to sell your unit; the length or term of the contract to sell your timeshare; and who is responsible for documenting and closing the sale.

If the deal isn’t what you expected or wanted, don’t sign the contract. Negotiate changes or find another reseller.”

Also from the government website there is an excellent Resale Checklist, including the caution to “check with the resort to determine restrictions, limits or fees that could affect ability to resell or transfer”.

Learn More: To learn more about vacation ownership, contact the American Resort Development Association. That Association represents the vacation ownership and resort development industries.

On their website: www.arda.org offers a brochure-Understanding Vacation Ownership.

Use Caution: A caution from the brochure: “ Include a careful due diligence process on your target resort to ensure satisfaction. Get a copy of the resort’s annual budget; determine if the current year’s maintenance fee has been paid for your week; find out when the next available use period is (this year or next); talk to other owners or the resort manager.”

I would add to that list that it is imperative to find out the most you can about special assessments that might affect your timeshare in the future. Just to give one example: if the resort does not carry adequate insurance for “acts of God” events like hurricanes, then the ‘rebuilding’ of the timeshare resort could fall upon the individual timeshare owners.

As another example, if portions of any aging infrastructure (pools; beach area; clubhouses; gym; tennis/golf facilities; restaurants) need to be renovated and adequate funds have not been set aside, then the renovation costs would be divided among the timeshare owners.

Also, check the local surroundings of the timeshare resort. Is the area “on the rise”? Stable? or is there some local economic ‘recession’ that would impact the resort and your investment. Check the crime rates for the area.

Buying into a timeshare is similar to buying your own home – use due diligence to make sure it is an environment you want to use, now and into the future.

Lastly, can your timeshare be passed on to your heirs?

Foreign Property: If the property is located outside of the continental United States you would be advised to use an attorney with considerable experience in overseas investments and to have them review not only the contract but also the local government rules about foreign ownership.  In some countries it is difficult for anyone who is not a resident of the country to legally own any kind of property.  (In such cases there is an intermediary who actually holds the ‘deeds’ for the property)

FINALLY: When on vacation, if you feel pressured to make a quick decision to ‘buy into’ an idyllic “piece of paradise”…take time to reflect and get all the facts before signing any legal documents.

Working To Preserve Your Wealth and Protect Your Future…in a Constantly Changing World

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Living For Today – Planning For Tomorrow

Much has been written about the use of reverse mortgages for retirees seeking a “boost” in their retirement income. The Squared Away Blog of the Center for Retirement Research at Boston College (CRC) offers a perspective on the reverse mortgage strategy and utilizes a comparison chart between two alternatives: Alternative #1 – using a reverse mortgage strategy and Alternative #2 – downsizing to a smaller home.  You can access the report, entitled “Primer: Home Equity” via the Center for Retirement Research website.

An interesting response to the blog article came from one reader who noted that one of the realities of downsizing is that there is often a difficulty to find appropriate (“smaller”) housing in certain areas of the country and also that increases in property taxes are “eating into (retirement) income.”

The CRC article also notes that when applying for a reverse mortgage – “regulators require that homeowners meet with a government-approved housing counselor to apply for a loan.”

Finally, according to CRC, few retirees are taking advantage of reverse mortgages. One suggested reason is “reverse mortgages are an unfamiliar and complex financial product, and their costs, benefits, and risks are poorly understood.”

Any loan/mortgage is a legal document and as such should not be entered into unless the borrower understands both the short-term and the longer term financial impact.

In addition, I would add, that before you sign any contract/document, particularly one that is unfamiliar and complex, seek competent, professional advice to review the details. At the bottom of this page is my column “How I Can Help You”.

 Working to Preserve Your Wealth and Protect Your Future in a Constantly Changing World.

This post has been brought to you through the Law Office of Barbara Ann Dalvano. This information is provided for educational purposes only and to generate ideas, provoke thought and facilitate conversation.  It is not intended to create an attorney-client relationship.  Each person’s situation is different and this information should not and cannot be relied upon as legal, tax, accounting or investment advice.  Please read the entire disclaimer for more important information.

Barbara Ann Dalvano, Esq.

Phone and Text Message: (719) 963-2933

Email Address: barbaradalvano@yahoo.com

Don’t Leave Your Legal Documents On Autopilot

I am often asked how often a Will or other Estate Planning document should be updated. Unfortunately, there is no brief answer to that question. In general, your Estate Plan, Will or legal document should be periodically reviewed – annually and/or when there is a personal or family “development”. Such ‘developments’ would include a birth or death in the family (or one of your named beneficiaries); a marked increase or decrease in the value of your assets; a material change in your health; marriage or divorce; relocation to another state (significant is a move from/to a community property state); marriage/divorce of a family member; receipt of a bequest under a Will or a gift. Changes in the tax or probate laws can also trigger the need for a review. (Changes in tax regulations and the laws of Probate can have a significant impact on any Estate Plan)

Purchase or disposal of a property; creating a business succession plan; entering into any contract negotiation or contractual arrangement; buying/starting a business; offering a significant loan; formulating a retirement plan; entering a bankruptcy/insolvency situation; creating/modifying a trust document are all specific examples of where a legal review would be advisable.

My personal thirty years of practice experience covers: Probate of Wills; Administration of Trusts; Making/Changing a Will; Buying/Selling a Business; Creating/Modifying a Trust; Community Property & Relocation; Buying/Selling a Major Asset; Business Succession Planning; Retirement Planning; Business Contracts; Creation of Business Entities and Marital Agreements.

Specific documents that I can help you with include: Wills, Revocable Living Trusts, Testamentary Trusts, Powers of Attorney, Living Wills, Beneficiary Designation Forms, Life Insurance Trusts, Irrevocable Trusts, ‘Grantor’ Trusts, Personal Residence Trusts, Marital Agreements, Owner Buy/Sell Agreements, Purchase and Sale Agreements, Business Contracts, Corporation Agreements, LLC Agreements, Real Estate Deeds, and Will/Probate Documents and quite a few more…

One thing you might consider is that in the long run…”hiring a lawyer can be less expensive than making a legal mistake“

Working to Preserve Your Wealth and Protect Your Future in a Constantly Changing World.

This post has been brought to you through the Law Office of Barbara Ann Dalvano. This information is provided for educational purposes only and to generate ideas, provoke thought and facilitate conversation. It is not intended to create an attorney-client relationship. Each person’s situation is different and this information should not and cannot be relied upon as legal, tax, accounting or investment advice. Please read the entire disclaimer for more important information.

Barbara Ann Dalvano, Esq.

Phone and Text Message: (719) 963-2933

Email Address: barbaradalvano@yahoo.com

Visit our website at www.attorneybarbaradalvano.weebly.com.

Beware ‘Free’ Legal Advice

The National Federation of Independent Business (NFIB) posted another helpful article.  If you own (or intend to start) a small business, the article is a valuable read.  Four Pieces of Legal Advice That Sound Good … But Small Business Owners Should Ignore is by Katie Truesdell.  In it she interviews experts and outlines advice that the small business owner should be extremely wary of taking at face value.

One of the points of the article (and one that I have frequently written about) is that – when you need a legal document drafted…go to a lawyer.  Do not take the document “off the shelf” or from an online source or book.  In particular, business contracts must be specifically tailored to the business and the state. (see one of the previous blogs titled, My Bespoke Law Practice on my website.)

Another point from the article is that, if you intend to sign a non-compete agreement (or hire someone who has signed a non compete agreement), it is enforceable!  Let’s make a simple example (not used in the article): Ms. Jones joyfully sells her boutique small business to a larger company and signs a non compete agreement, which states that she cannot open another similar business in the area.  (This a very simplified example.)  Ms. Jones has been told by “people” that the non compete does not really mean anything… the buyer of her small business would not want to try to enforce it, etc. etc.  Ms. Jones opens another similar small business. Suddenly she finds herself in the middle of expensive litigation! Why? Because the buyer of her first small business did indeed decide to enforce the non compete agreement! Was the ‘advice’ that Ms. Jones received worth the price of litigation? There are other types of non compete agreements and the statutes vary by state…Remember, they are legal documents and enforceable.

The bottom line…Beware signing any agreement or contract without appropriate legal advice.

 To read the entire article, go to the NFIB website, www.nfib.com.  According to their website: “NFIB is America’s leading small business association, promoting & protecting the right of our members to own, operate and grow their businesses.” You can sign up to be on their email list for future articles.

 Working to Preserve Your Wealth and Protect Your Future in a Constantly Changing World.

 This post has been brought to you through the Law Office of Barbara Ann Dalvano.  This information is provided for educational purposes only and to generate ideas, provoke thought and facilitate conversation.  It is not intended to create an attorney-client relationship.  Each person’s situation is different and this information should not and cannot be relied upon as legal, tax, accounting or investment advice.  Please read the entire disclaimer for more important information. 

  Barbara Ann Dalvano, Esq.

Phone and Text Message:  (719) 963-2933

Email Address:  barbaradalvano@yahoo.com

  Visit our website at http://www.attorneybarbaradalvano.weebly.com

Fishing In The Talent Pool

As promised, here is a archived article from a recent posting on my website. As a small business owner, it is often difficult to hire and retain talented individuals. This post gives some ideas about how to compete with much bigger companies for limited talent.
Fishing In The Talent Pool – Swimming With The Sharks
As an attorney in the practice areas of Business Entities, Small Business Succession Planning and Family Owned Business Succession Planning, I am always on the lookout for trends within the business community. One constant challenge that small and medium sized businesses face is in hiring and retaining talented staff/employees. Competition from “big’ business and major corporations is often fierce for this talent. At the same time, major corporations have been forced recently to cut back on some perks, notably the inclusion of expensive employee health insurance coverage plans.
A recent article in National Federation of Independent Business (NFIB) titled “The Talent Contest” was enlightening. Small and medium sized businesses can compete aggressively in one important area (indeed swim with the sharks), notably in Work Schedule Flexibility. Flexibility in the workplace can be a major consideration for potential hirees, by a whopping 72% (i.e. 72% of job seekers consider flexible work schedules an important job perk.) A Telecommuting Job is another ‘perk’ that employees yearn for.
A few other things that a small business owner can offer to potential employees are: subsidized TRAINING (or perhaps a schedule that allows for community college courses); free or subsidized LUNCHES (yes, even those eaten in the staff room during an impromptu meeting or training session); MENTORING (taking the time to really explain in detail the complexities of a particular new or challenging task) and Subsidized GYM MEMBERSHIP (yes, small businesses LOVE healthy employees.)
“What’s in it for the small business owner?” you might ask. First – a competitive edge into the local talent pool by offering some of the above mentioned ‘perks.’ Secondly – a happier employee, and a happier employee can be a more productive employee (According to NFIB there can be a surprising 15% increase of productivity for workers who have switched to telecommuting.)
Lastly, while planning for that next employee perk – the small business and family business owner should remember to do a bit of long term succession planning for themselves. Succession planning can strengthen a small business by providing a more ‘secure’ environment – a safety net for both employer and employee.

Working to Preserve Your Wealth and Protect Your Future in a Constantly Changing World.

This post has been brought to you through the Law Office of Barbara Ann Dalvano. This information is provided for educational purposes only and to generate ideas, provoke thought and facilitate conversation. It is not intended to create an attorney-client relationship. Each person’s situation is different and this information should not and cannot be relied upon as legal, tax, accounting or investment advice. Please read the entire disclaimer for more important information.

Barbara Ann Dalvano, Esq.
Phone and Text Message: (719) 963-2933
Email Address: barbaradalvano@yahoo.com

Feel free to visit our website at http://www.attorneybarbaradalvano.weebly.com.