Konchel & Associates, P.C.

The Cosby Show Made Him Famous. His Estate Plan Failed His Family. Here’s What I Would Have Done.

Matthew Konchel, Esquire — Fri, 14 Aug 2026 09:30:00 +0000

Malcolm-Jamal Warner, best known as Theo Huxtable on The Cosby Show, died in 2025. One year later, his widow alleges $1.2 million in unfulfilled premarital obligations: a life insurance policy never purchased, a Roth IRA never funded, and anniversary payments never made. A nine-year-old daughter is at the center of the dispute. Here’s what more thorough follow-through on the planning could have helped prevent.

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Q4 Business Planning Checklist: What to Review Before October

Matthew Konchel, Esquire — Fri, 14 Aug 2026 08:30:00 +0000

August feels like a slow month. It isn't. For business owners, the next 60 days are a key window to coordinate legal, insurance, financial, and tax decisions before Q4 pressure builds. Here's the checklist to work through before that window closes.

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Make-A-Will Month Is a Good Reminder. But Business Owners Need More Than a Will.

Matthew Konchel, Esquire — Fri, 07 Aug 2026 11:00:00 +0000

August is Make-A-Will Month, and if you own a business, this reminder hits differently. A personal will and a business succession plan are not the same thing, and if you only have one of them, or neither, the damage your death leaves behind may be far greater than you realize. Here's what business owners actually need.

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Make-A-Will Month Is Here. But a Will Isn’t a Plan.

Matthew Konchel, Esquire — Fri, 07 Aug 2026 10:00:00 +0000

August is Make-A-Will Month, and if you've been meaning to get your affairs in order, this is your reminder. But before you assume that getting a will means your family is protected, there's something most people don't know about what a will actually does and doesn't do.

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What Happens to Business Debt When You Die?

Matthew Konchel, Esquire — Fri, 31 Jul 2026 08:50:00 +0000

Most business owners spend a lot of energy thinking about what they're building, not what happens to it if they die. If you have business debt, especially personally guaranteed loans, the answer matters more than you think. Here's what you need to know, and what a real plan looks like.

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Friends Don’t Let Friends Go Without an Estate Plan

Matthew Konchel, Esquire — Fri, 31 Jul 2026 07:05:00 +0000

You've heard the phrase: "Friends don't let friends drive drunk." The same logic applies to estate planning. According to Caring.com, only 24 percent of Americans have a will. For some of the people you love most, you may be the only person in their life who will ever bring this up. Here's how to do it without making it weird, and what to tell them about what real planning looks like.

August is National Make a Will Month, which means this is exactly the right time.

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Trump Accounts: What Every Parent of a Baby Born 2025–2028 Needs to Know

Matthew Konchel, Esquire — Fri, 24 Jul 2026 10:30:00 +0000

The federal government is depositing $1,000 into savings accounts for every baby born between January 1, 2025 and December 31, 2028. The account is called a Trump Account, contributions opened July 4, 2026, and most families have not yet taken the step to claim it. Here is what it is, how to open one, and what it means for your family's plan.

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The One Big Beautiful Bill: What Business Owners Need to Do Right Now

Matthew Konchel, Esquire — Fri, 24 Jul 2026 09:00:00 +0000

The One Big Beautiful Bill Act made four major changes to the tax code that directly affect business owners: permanent bonus depreciation, a permanent pass-through deduction, restored R&D expensing, and improved business interest deductibility. Most business owners know the law passed. Fewer have actually changed anything. Here is what the changes mean and what to do about them across your Legal, Insurance, Financial, and Tax systems.

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Asset Protection Trusts for Business Owners: Getting It Done Before the Window Closes (Part 3)

Matthew Konchel, Esquire — Fri, 17 Jul 2026 10:55:00 +0000

Part 3 of our asset protection series breaks down exactly what getting a trust done requires, across the Legal, Insurance, Financial, and Tax systems.

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When Your Spouse Won’t Get on Board with Estate Planning: What to Do Now

Matthew Konchel, Esquire — Fri, 17 Jul 2026 10:31:00 +0000

Your spouse keeps saying "not now." Here's what you can do today, what requires both of you, and why one professional conversation can change everything.

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Asset Protection Trusts for Business Owners: Who Needs One and When to Act

Matthew Konchel, Esquire — Fri, 10 Jul 2026 12:55:00 +0000

Not every business owner needs a lifetime asset protection trust. Here is who does, when the timing matters, and what life events should trigger it.

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What Happens to Debt When You Die: What Families Must Know

Matthew Konchel, Esquire — Fri, 10 Jul 2026 11:56:00 +0000

Your debt does not pass to heirs automatically, but creditors claim the estate before anyone inherits. Here is what actually happens to each kind of debt.

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Asset Protection Trusts for Business Owners: How They Work

Matthew Konchel, Esquire — Fri, 03 Jul 2026 13:02:00 +0000

A lifetime asset protection trust shields what you have built while you are still alive to benefit from it. Here is how business owners use one safely.

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The New Tax Law and Your Family’s Trust: What to Know Now

Matthew Konchel, Esquire — Fri, 03 Jul 2026 12:02:00 +0000

A provision buried in the One Big Beautiful Bill may create double taxation inside family trusts, including special needs trusts. Here is what you can do.

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Succession Planning: New Tax Law Limit Hits Small Trusts.

Matthew Konchel, Esquire — Fri, 26 Jun 2026 12:56:00 +0000

A new tax law quietly applies a deduction limit to trusts with as little as $16,000 in annual income. Here is what business owners with trusts need to know.

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Digital Estate Planning: Why Passwords Aren’t Enough

Matthew Konchel, Esquire — Fri, 26 Jun 2026 11:55:00 +0000

Most families assume that a list of passwords will be enough to access accounts after a death. That assumption is wrong, and the problem is not the list. The problem is a layer of security most accounts now require that no password can bypass. Here is what actually keeps families locked out, and what a real digital estate plan looks like.

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Your Heir Is Already in the Building: What Has to Be in Place Before the Transition Happens.

Matthew Konchel, Esquire — Fri, 19 Jun 2026 11:33:00 +0000

For many business-owning fathers, the succession question feels answered: their child has been working alongside them for years and is clearly the next leader. The problem is that "obvious" is not a legal document. Without a plan that formalizes what everyone already knows, even the most prepared heir can end up with nothing to inherit. Here is what the plan has to include.

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Divorce Doesn’t Update Your Estate Plan: Here’s What Does

Matthew Konchel, Esquire — Fri, 19 Jun 2026 10:50:00 +0000

Whether you had an estate plan going into your marriage or not, your divorce changed everything. The settlement resolved custody and assets. It did not address what happens to your children if you die. For divorced and separated fathers, that gap almost always exists, even when it feels like the plan is in place. Here is what actually needs to be updated.

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Blended Families, Family Businesses: Why the Plan Has to Be Intentional

Matthew Konchel, Esquire — Fri, 12 Jun 2026 11:32:00 +0000

When you have a blended family and a business, the stakes are doubled. Stepchildren have no automatic legal claim to what you've built. Without an intentional plan, the law decides what "family" means, often in ways you never intended. Here is what every business owner in a blended family needs to know.

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The Question Every Father Thinks He’s Answered (But Hasn’t)

Matthew Konchel, Esquire — Fri, 12 Jun 2026 10:58:00 +0000

Father's Day is a celebration of presence. But the fathers who've truly done right by their families aren't just the ones who showed up every day. They're the ones who made sure their family would be protected whether they were there or not. If you haven't answered the one question that matters most, this is where to start.

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The Business Your Dad Built: What Happens to It When He Can’t Show Up?

Matthew Konchel, Esquire — Fri, 05 Jun 2026 19:07:00 +0000

Father's Day is a good time to think about what business-owner fathers are actually building, and whether it's protected. Most family businesses don't survive the founder. Not because they weren't valuable, but because no one made a plan. Here's what that plan needs to include.

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The Father the Law Doesn’t See: What Stepfathers and Father Figures Need to Know

Matthew Konchel, Esquire — Fri, 05 Jun 2026 13:56:00 +0000

He shows up for every game, knows the bedtime routine by heart, and considers these children his family. The children consider him theirs. But under the law, he doesn't exist as a parent at all. This Father's Day, here is what every stepfather and father figure needs to know.

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Who Would Raise Your Kids If You Couldn’t? (What You Don’t Know About the First 72 Hours)

Matthew Konchel, Esquire — Fri, 29 May 2026 10:01:00 +0000

You've thought about who would raise your children if something happened to you. But thinking about it and actually naming someone in a legal document are two very different things. If your family doesn't have an answer in writing, and something unexpected happens to you, a judge who has never met you or your children will make that decision. Here's what you need to know, and what you can do about it today.

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The 1099 You Shouldn’t Send: The Summer Hiring Mistake That Follows You Into April

Matthew Konchel, Esquire — Fri, 29 May 2026 07:16:00 +0000

Summer is here, and business owners are bringing on extra help. Interns. Part-time assistants. Seasonal workers. The college student down the street. Most are handing out 1099s without thinking twice. But what the IRS sees in that same scenario is often a W-2 relationship, and the bill for that misclassification doesn't arrive until next April. Here's what you need to know before you hire your first summer helper.

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Do You Know Your Q3 Number? Most Business Owners Don’t, and Summer Is Why.

Matthew Konchel, Esquire — Fri, 22 May 2026 10:15:00 +0000

September comes faster than it should. You blink, and Q3 is over, and you are looking at a number that is not where you thought it would be. Not because you did not work hard. Not because your clients disappeared. But because you never had a specific target to aim at, and a vague sense of wanting to grow is not the same thing as a plan.

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No One Warned Her About the Widow Penalty. Her First Tax Return Did.

Matthew Konchel, Esquire — Fri, 22 May 2026 09:09:00 +0000

When a spouse dies, most surviving partners expect grief. They do not expect a tax bill. The "widow penalty" is a real and largely unrecognized consequence of losing a spouse that can cost a surviving partner thousands of dollars more every year in taxes and Medicare premiums, at the worst possible moment in their life. Here is what it is, who it affects, and what you can do now, while there is still time to plan.

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Your Mid-Year Business Check-In: 5 Things to Review Before Summer (and One Deadline You Cannot Miss)

Matthew Konchel, Esquire — Fri, 15 May 2026 11:56:00 +0000

By mid-May, most business owners are already thinking ahead to summer. Deals are closing, vacations are getting booked, and the pace of business starts to shift. But the decisions you make or skip between now and the end of Q2 have a way of surfacing on your tax return, in your insurance gaps, and in your operating agreements. There is one deadline coming up fast that you cannot afford to miss, and four more things worth 30 minutes of your attention before the season shifts.

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The Document That Fails When You Need It Most

Matthew Konchel, Esquire — Fri, 15 May 2026 09:09:00 +0000

You signed the Power of Attorney (POA). You thought your family was protected. But when a parent or spouse loses capacity, that document you trusted may get rejected at the very bank where you need it most, and your family may not have time to fight it. As your Personal Family Lawyer®, this is exactly the kind of gap I make it my job to close before you ever need to find out the hard way.

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He Sold His Company for $1.2 Billion. He Died Without an Estate Plan.

Matthew Konchel, Esquire — Fri, 08 May 2026 08:53:28 +0000

If something happened to you tomorrow, would the people you love know what to do? Would they have the legal authority to do it? Most people think they have a plan, or at least that they will. What they rarely picture is what happens in the days and weeks before anyone can act: while the […]

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Before You Load the Car: What Your Business Needs Before You Leave for Summer Vacation

Matthew Konchel, Esquire — Fri, 08 May 2026 08:48:24 +0000

The cooler is packed. The kids are arguing over the back seat. Your partner has already asked twice whether you remembered the sunscreen. You toss all the bags in the trunk, do one last check of the locks, and climb in. Somewhere between the driveway and the highway, it hits you. What would happen to […]

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Your Business Runs Because You Show Up. Here’s What Happens When You Can’t.

Matthew Konchel, Esquire — Fri, 01 May 2026 08:35:04 +0000

For a few weeks every spring, tax season gives you more financial clarity than almost any other time of year. Now ask the question most business owners never think to ask during that window: What happens to all of this if you can’t show up tomorrow? Not because you’re planning for it. Not because anything […]

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Her Husband Died Without a Will. Then ICE Came to the Door.

Matthew Konchel, Esquire — Fri, 01 May 2026 08:28:20 +0000

You fall in love later in life. You marry. You start over. Then your spouse dies suddenly. Before you have time to grieve, the family starts fighting, the locks get changed, the mail stops arriving, and the basic stability of your life begins to slip away. Without the right legal planning, that kind of loss […]

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Tax Season Forced You to Look. Now Ask the One Question That Actually Matters.

Matthew Konchel, Esquire — Mon, 27 Apr 2026 12:00:40 +0000

Tax season just made you look at your financial life honestly. All of it. Tax season forced it. You gathered documents, tracked down account statements, reviewed what you own and what you owe. Right now, in April, you are more financially clear-headed than you will be at almost any other moment this year. And here’s […]

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Your Tax Return Is Trying to Warn You. Are You Listening?

Matthew Konchel, Esquire — Mon, 27 Apr 2026 12:00:26 +0000

You just closed the folder on another tax year. Maybe the number you owed surprised you. Maybe it didn’t. Either way, you just spent weeks pulling together receipts, reconciling accounts, and signing a document that is the most honest report on your business health you’ll see all year: your actual profit margin, your real tax […]

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Anne Heche Died in 2022. Her Family Is Still Paying for It

Matthew Konchel, Esquire — Mon, 20 Apr 2026 12:00:56 +0000

After you’re gone, your family won’t just be grieving. They’ll be making phone calls, hunting down accounts, and navigating a legal process that no one told them about. That’s the part that can quietly drag on for years, no matter how much or how little you have. And a story that’s been playing out in […]

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The Agreement That Controls Your Business – Even If You’ve Never Read It

Matthew Konchel, Esquire — Mon, 20 Apr 2026 12:00:54 +0000

You started your business to build something. You put in the long hours, made the hard calls, and figured things out as you went. At some point, someone told you that you needed an operating agreement – so you got one. Maybe a lawyer drafted it. Maybe you grabbed a template online. Either way, you […]

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One Death, One Courtroom, One Child – and a Lesson Every Parent Needs to Hear

Matthew Konchel, Esquire — Mon, 13 Apr 2026 12:00:47 +0000

You probably assume that if something happened to you, the other parent would step in and everything would work itself out. In many families, that’s true. But not always. Real life is messy. Parents separate. Relationships become contentious. Custody disputes drag on for years. And when a tragedy occurs in the middle of all of […]

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How to Recession-Proof Your Business: Strategies That Survived 2008 and 2020

Matthew Konchel, Esquire — Mon, 13 Apr 2026 12:00:15 +0000

You watched it happen twice. In 2008, businesses that seemed rock solid were suddenly gone. In 2020, companies that had been operating for decades shuttered in a matter of weeks. And in both cases, the owners who lost everything weren’t necessarily doing anything wrong. They just hadn’t built their businesses to survive what they couldn’t […]

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Estate Planning for Unmarried Couples: Protecting the Person You Love

Matthew Konchel, Esquire — Mon, 06 Apr 2026 12:00:49 +0000

You and your partner have built something real together. Maybe you share a home, split the bills, and have been each other’s go-to person for years. In every way that matters, you’re family. The problem is, the law doesn’t see it that way. Without a marriage certificate, your partner has almost no automatic legal standing […]

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Why You Shouldn’t Be Your Business’s Only Decision-Maker

Matthew Konchel, Esquire — Mon, 06 Apr 2026 12:00:38 +0000

You built this business from the ground up. You know every vendor, every password, every contract. You handle the bank accounts, sign every check, and approve every deal. To you, that’s not a control issue – that’s just being a responsible owner. But here’s the hard truth: if your business can only function because you […]

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When a Key Employee Leaves: What Smart Business Owners Do Next

Matthew Konchel, Esquire — Mon, 30 Mar 2026 12:00:49 +0000

You’ve built something real. A team you trust, systems that hum along, real momentum. Then one morning, one of your best people walks in and hands you a resignation letter. Maybe it’s your top salesperson. Your operations manager. The person who basically runs the place when you’re not around. A key employee departure hits differently […]

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Here’s What Can Happen to Blended Families When a Spouse Dies

Matthew Konchel, Esquire — Mon, 30 Mar 2026 12:00:02 +0000

If you are in a blended family, you may believe the simplest estate plan is the fairest one: “I’ll leave everything to my spouse. They’ll take care of my kids.” That approach often works in a first and only marriage. If you and your spouse share the same biological or adopted children, the surviving spouse […]

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What Your Business Is Really Teaching Your Loved Ones

Matthew Konchel, Esquire — Mon, 23 Mar 2026 12:00:55 +0000

You started your business with a vision. Maybe it was financial freedom, creative control, or the chance to build something meaningful. But while you’ve been focused on growth, revenue, and operations, your business has been teaching your family lessons you never explicitly intended. Every late dinner. Every cancelled vacation. Every time you choose to answer […]

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Here’s What Happens to Your Retirement Accounts After You Die

Matthew Konchel, Esquire — Mon, 23 Mar 2026 12:00:03 +0000

Retirement accounts like 401(k)s and IRAs often represent the single largest category of wealth for American families. According to recent data, retirement funds in these accounts alone total roughly $21 trillion, and for many households, they compose over 34% of average household assets, even exceeding home equity. Given this scale, understanding how these accounts transfer […]

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How Fast Growth Can Put Your Business at Legal Risk

Matthew Konchel, Esquire — Mon, 16 Mar 2026 12:00:16 +0000

Your business is taking off. Sales are climbing, customers are lining up, and you’re hiring as fast as you can. You might even be thinking about expanding into new markets or launching additional services. This is what success looks like, right? But here’s what many business owners don’t realize until it’s too late: rapid growth […]

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Creating a Trust in Your Will vs. Creating a Living Trust: Part 2

Matthew Konchel, Esquire — Mon, 16 Mar 2026 12:00:08 +0000

Last week, we covered how it works when you create a trust through your will. This week, I’ll show you how a trust created during your lifetime (called a revocable living trust) functions differently, what your family experiences when you’ve set up a living trust, and how to decide which approach truly fits your situation. […]

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Tax Moves Business Owners Can Still Make in March for the Prior Year

Matthew Konchel, Esquire — Mon, 09 Mar 2026 12:00:42 +0000

By March, many business owners assume tax planning is over. The year has closed, the numbers feel locked, and the focus shifts to writing a check to the IRS instead of shaping the outcome. That mindset leads to missed opportunities, not because options no longer exist, but because no one explains what still matters at […]

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Creating a Trust in Your Will vs. Creating a Living Trust: Part 1

Matthew Konchel, Esquire — Mon, 09 Mar 2026 12:00:26 +0000

You’ve probably heard that trusts help families avoid probate court and protect assets for the people you love. Maybe you’ve even talked to a lawyer who mentioned including a trust in your will. It sounds like a good solution, but here’s what most people don’t realize: a trust created in your will works very differently […]

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Your Business Is Valuable – But Is It Built to Last Without You?

Matthew Konchel, Esquire — Mon, 02 Mar 2026 13:00:39 +0000

You have likely spent years building your business into something that works. It generates income, serves customers, and supports your family. For many business owners, it is the most significant asset they own, both financially and personally. Yet despite its importance, one critical question often goes unexamined: what happens to the business if you are […]

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Why Quick and Simple Estate Plan Reviews Don’t Exist

Matthew Konchel, Esquire — Mon, 02 Mar 2026 13:00:00 +0000

When someone calls an estate planning attorney asking for a “quick look” at their documents, the request usually sounds straightforward. Maybe the documents were created using an online service, and they want to “just be sure” the documents are sound. Perhaps there’s been a move to a new state and a question about whether the […]

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Business Breakups Can Be Worse Than Divorces – Here’s Why

Matthew Konchel, Esquire — Mon, 23 Feb 2026 13:00:58 +0000

Countless entrepreneurs launch businesses with partners without planning for what happens when the partnership ends. You may even be one of them. So, what happens when a business partnership breaks up and there’s no pre-plan? When there’s no plan, business breakups can be messier, more expensive, and more emotionally draining than personal divorces. When a […]

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Understanding Inheritance Taxes: What You and Your Beneficiaries Need to Know

Matthew Konchel, Esquire — Mon, 23 Feb 2026 13:00:03 +0000

When planning for your death, there’s one issue you may not have thought about, but is so important to your beneficiaries: will your loved ones have to pay taxes on what you leave them? The answer isn’t straightforward because it depends largely on the types of assets you’re passing down, how much you are passing […]

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When Should You Fire a Client? Signs It’s Time to Part Ways (And How to Do It Right)

Matthew Konchel, Esquire — Mon, 16 Feb 2026 13:00:58 +0000

You started your business to serve people, solve problems, and build something meaningful. But somewhere along the way, a client relationship turned sour. Maybe they don’t respect your time, consistently challenge your expertise, or drain your energy so completely that other parts of your business suffer. You’ve probably asked yourself: Is it time to let […]

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The Lady Bird Deed: 5 Risks to Consider Beyond Medicaid Protection

Matthew Konchel, Esquire — Mon, 16 Feb 2026 13:00:12 +0000

You own your home. Maybe it’s your most significant asset. Perhaps you’ve heard about Lady Bird Deeds and how they can help you avoid probate and protect your home for your children. A friend told you about them, or maybe you saw something online about how they’re simple, inexpensive, and effective. All of that is […]

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What Happens to Your Debt When You Die?

Matthew Konchel, Esquire — Mon, 09 Feb 2026 13:00:44 +0000

It’s a question I hear often: if I die with debt, will my family be stuck paying it off? The short answer is it depends on several factors, including the type of debt you have, how your assets are titled, and whether anyone co-signed on your obligations. Understanding how debt works after death can help […]

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From Side Hustle to Full-Time Business: Making the Leap Without the Risk

Matthew Konchel, Esquire — Mon, 09 Feb 2026 13:00:28 +0000

You’ve been running your side hustle for months, maybe even years. What started as a way to earn extra income has now grown into something bigger. You’re wondering: Could this actually become my full-time career? The leap from side hustle to full-time business can feel terrifying. You’re thinking about leaving a steady income, benefits, and […]

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Protecting Your Legacy: Why Life & Legacy Planning Matters for Black Families

Matthew Konchel, Esquire — Mon, 09 Feb 2026 13:00:15 +0000

February is Black History Month – a time to honor the resilience, achievements, and contributions of Black Americans. It is also an opportunity to reflect on the future and the legacy you are building for your family. For many Black families, legacy is not abstract. It is shaped by generations who were denied the opportunity […]

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Where Will You Live and How Will You Get and Pay For Care As You Age? A Legal and Practical Guide

Matthew Konchel, Esquire — Mon, 02 Feb 2026 13:00:46 +0000

If you’re planning for your own future or helping aging parents, understanding options for living and long-term care isn’t just about finding a nice place to live. It’s about navigating a complex web of legal, financial, and personal decisions that will affect quality of life, inheritance, and family dynamics for generations to come. Let’s break […]

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Should You Hire a Fractional CFO? What Business Owners Need to Know

Matthew Konchel, Esquire — Mon, 02 Feb 2026 13:00:19 +0000

You’re juggling payroll, watching cash flow, reviewing profit margins, and trying to make sense of quarterly reports. Meanwhile, you’re also running the actual business, serving customers, managing employees, and planning for growth. The financial side feels overwhelming, but you’re not quite ready to hire a full-time Chief Financial Officer with a six-figure salary. Enter the […]

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Why So Much Money Ends Up as Unclaimed Property and What That Means for You

Matthew Konchel, Esquire — Mon, 26 Jan 2026 13:00:29 +0000

This February 1, states across America observe National Unclaimed Property Day, chosen to remind you about a surprisingly widespread financial problem: billions of dollars in forgotten assets currently held by state governments, waiting for their rightful owners to claim them. This observance exists for one practical reason: to help you reclaim money and assets that […]

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What Every Small Business Owner Needs to Know About AI: Part 2 of 2

Matthew Konchel, Esquire — Mon, 26 Jan 2026 13:00:15 +0000

In Part 1 of this series, we explored how AI is transforming small business operations and where these tools deliver genuine value versus where human expertise remains irreplaceable. Now it’s time to address the critical question most business owners overlook: What legal and operational foundations do you need before adopting AI? This isn’t just legal […]

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What Every Small Business Owner Needs to Know About AI: Part 1 of 2

Matthew Konchel, Esquire — Mon, 19 Jan 2026 13:00:58 +0000

You’ve probably noticed the headlines. AI is transforming industries, automating tasks, and changing how business gets done. Maybe you’ve even tried ChatGPT or seen competitors adopting AI tools. And if you’re like most small business owners, you’re asking yourself: Is AI going to make my business obsolete, or is this an opportunity I can’t afford […]

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Frozen Accounts, Court Delays, and Grief: What Happens in the Probate Process

Matthew Konchel, Esquire — Mon, 19 Jan 2026 13:00:33 +0000

Your mom told you not to worry; she had everything handled. You were her power of attorney, helping her pay bills and manage her accounts. When she passed away, you assumed you’d simply continue handling things the same way you had been. Then you tried to deposit the insurance check. The bank clerk looked at […]

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Protecting Your Business in 2026: Insurance Coverage You May Be Missing

Matthew Konchel, Esquire — Mon, 12 Jan 2026 13:00:30 +0000

You’ve built something remarkable. Your business generates revenue, serves customers, and maybe even employs a growing team. You’ve checked the obvious boxes: general liability insurance, property coverage, maybe workers’ compensation. You think you’re protected. But here’s the uncomfortable truth: most business owners have significant gaps in their insurance coverage. These gaps often remain invisible until […]

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What Happens to All Your Stuff When You Die? (And Why Your Family Is Dreading It)

Matthew Konchel, Esquire — Mon, 12 Jan 2026 13:00:24 +0000

You open the door to your parents’ home for the first time since the funeral. Closets stuffed with decades of clothes. Cabinets filled with china no one uses. A garage packed with tools, holiday decorations, and boxes labeled “miscellaneous.” Drawers overflowing with papers, keepsakes, and items whose significance you’ll never understand. The task ahead feels […]

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Why January Is the Perfect Time to Review Your Business Structure

Matthew Konchel, Esquire — Mon, 05 Jan 2026 13:00:25 +0000

The new year brings fresh starts, renewed energy, and the perfect opportunity to evaluate whether your business structure still aligns with your goals. If you started your business as a sole proprietor or LLC years ago, your company has likely evolved. Maybe you’ve added employees, increased revenue, expanded into new markets, or taken on business […]

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Wills vs. Trusts: How to Choose the Right Tool to Protect the People You Love

Matthew Konchel, Esquire — Mon, 05 Jan 2026 13:00:05 +0000

When you begin thinking about estate planning, one of the first questions you might ask is whether you need a will, a trust, or both. You may have heard conflicting information from friends, social media, or TV experts, which can make the decision feel confusing. And while both wills and trusts can play an important […]

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Why Your Family Needs a Mission Statement

Matthew Konchel, Esquire — Mon, 29 Dec 2025 13:00:52 +0000

You probably know you “should” have a will or a trust, but have you ever talked with your family about why your money exists in the first place? A simple family mission statement, combined with a comprehensive estate plan can dramatically increase the odds that your wealth and your relationships stay intact for generations. You […]

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Hiring Your Children: The Smart Tax Strategy Most Business Owners Overlook

Matthew Konchel, Esquire — Mon, 29 Dec 2025 13:00:02 +0000

As a business owner, you spend a great deal of time looking for strategies that support your company’s growth, reduce your tax burden, and strengthen your family’s financial foundation. One of the most overlooked opportunities available to you is hiring your own children to work in your business. This strategy isn’t just legal; it’s encouraged […]

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Got Retirement Savings? Must Read …

Matthew Konchel, Esquire — Mon, 22 Dec 2025 13:00:47 +0000

The SECURE Act 2.0 brought some of the biggest changes to retirement planning in decades. While most people think it only affects their retirement accounts or may not even know about these changes at all, the SECURE Act 2.0 directly impacts how your loved ones will access your retirement accounts after your death and how […]

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The Money Leaks Draining Your Business: How to Plug the Holes and Protect Your Profit

Matthew Konchel, Esquire — Mon, 22 Dec 2025 13:00:22 +0000

Running a business isn’t just about earning more money; it’s about keeping the money you earn. Yet most small business owners unintentionally leak thousands of dollars every year because their legal, insurance, financial, and tax systems aren’t working together. In this article, you’ll learn where the most common money leaks occur, how they impact your […]

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Accidental Death at 39: Here’s What You Need to Know

Matthew Konchel, Esquire — Mon, 15 Dec 2025 13:00:56 +0000

Michael Duarte had everything to live for. At 39, the popular food influencer was building his brand, sharing recipes with millions of followers, and raising his 6-year-old daughter Oakley with his wife Jessica. His content brought joy to countless people who watched his sizzling barbecue videos and creative flavor combinations. Then, on November 8, 2025, […]

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Year-End Tax Moves Every Business Owner Should Make Before December 31

Matthew Konchel, Esquire — Mon, 15 Dec 2025 13:00:05 +0000

As a business owner, the final weeks of the year give you one more chance to shape your tax outcome for the year ahead. While many owners assume it’s “too late” to make meaningful changes in December, you actually have several powerful tools available to reduce your tax burden, maximize deductions, and position your business […]

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Caring for Aging Parents: How to Protect Relationships and Plan Ahead

Matthew Konchel, Esquire — Mon, 08 Dec 2025 13:00:34 +0000

When adult siblings come together to care for aging parents, something unexpected often happens. Instead of bringing families closer, the experience frequently exposes old wounds and creates new rifts that never fully heal. What should be a time of unity becomes a source of lasting conflict. With over 37 million Americans providing unpaid eldercare, these […]

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Should You Mix Business and Friendship? What to Know Before Bringing Your Best Friend on Board

Matthew Konchel, Esquire — Mon, 08 Dec 2025 13:00:29 +0000

You’re sitting across from your best friend at your favorite coffee shop, and suddenly you’re struck with what feels like the perfect idea: Why not go into business together? You already trust each other, you work well together, and they have skills that complement yours perfectly. It seems like a no-brainer, right? Not so fast. […]

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The White Elephant Gift Nobody Wants: Family Conflict

Matthew Konchel, Esquire — Mon, 01 Dec 2025 13:00:49 +0000

We’ve all been there. The holiday White Elephant gift exchange starts out fun and lighthearted. But then Uncle Jim steals the massage gun he bought in hopes of winning it for himself. The married couples start tag-teaming to keep the best gifts between them. Cousin Sarah gets stuck with the singing fish. Someone’s definitely holding […]

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The White Elephant Gift Nobody Wants: Business Partner and Family Conflict

Matthew Konchel, Esquire — Mon, 01 Dec 2025 13:00:19 +0000

We’ve all been there. The office White Elephant gift exchange starts out fun and professional. But then Jim from accounting steals the massage gun he bought in hopes of winning it for himself. The department heads start tag-teaming to keep the best gifts between them. Sarah from HR gets stuck with the singing fish. Someone’s […]

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Taylor Swift and Why Every Business Owner Needs to Protect Their IP

Matthew Konchel, Esquire — Mon, 24 Nov 2025 13:00:48 +0000

As a business owner, you work tirelessly to build value through your ideas, your brand, and your creative output. Yet few entrepreneurs stop to ask a critical question: who truly owns the assets that make my business valuable? Taylor Swift’s journey to reclaim ownership of her music provides one of the clearest examples of why […]

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How to Talk to Your Loved Ones About Death, Money, and Estate Planning at the Holidays

Matthew Konchel, Esquire — Mon, 24 Nov 2025 13:00:16 +0000

As the holidays approach, families gather to share food, laughter, and stories. But amid the joy, there is often an unspoken truth: many families avoid the conversations that matter most. What will happen when you are gone? How will your loved ones be cared for? What legacy will you leave behind? This season offers a […]

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Why Placing Your Business in a Trust Protects Everything You’ve Built

Matthew Konchel, Esquire — Mon, 17 Nov 2025 13:00:56 +0000

As a business owner, your company is likely one of your most valuable assets and one of the hardest to replace. Yet few business owners realize that without the right legal structure, everything they’ve built can become entangled in probate, exposed to lawsuits, or even fall into the wrong hands. In this article, you’ll learn […]

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What to Do When You’re Ready to Create Your Estate Plan but Your Spouse Isn’t

Matthew Konchel, Esquire — Mon, 17 Nov 2025 13:00:13 +0000

When you’re ready to finally put an estate plan in place, it’s natural to feel excited and relieved. You’re taking a powerful step to protect your family, get organized, and make sure everything is handled the way you want if you become incapacitated and when you die. But what happens when your spouse doesn’t share […]

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What a LIFT Dream Team Is and Why Your Business Needs One

Matthew Konchel, Esquire — Mon, 10 Nov 2025 13:00:26 +0000

Running a business means making hundreds of decisions every week. Some are small, like choosing software or setting a new price, but others can determine whether your company grows, stagnates, or collapses under pressure. Most business owners have professionals in their corner: a CPA, a bookkeeper, an insurance agent, maybe even a lawyer. But rarely […]

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Honoring Your Sacrifice: Estate Planning Essentials for Military Families

Matthew Konchel, Esquire — Mon, 10 Nov 2025 13:00:06 +0000

Each year on November 11, the nation pauses to honor the courage and sacrifice of those who’ve served in the Armed Forces. Beyond the ceremonies and flags, Veterans Day offers military families a meaningful opportunity to reflect on a vital question: Is your family truly protected if something happens to you? If you’ve served or […]

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Why Business Owners Need an Estate Plan (And Why Keeping It Updated Matters Even More)

Matthew Konchel, Esquire — Mon, 03 Nov 2025 13:00:40 +0000

Running a business demands your constant attention. Between managing operations, serving clients, and growing revenue, estate planning often falls to the bottom of your priority list. You might think your business succession plan or buy-sell agreement covers everything, or perhaps you believe your personal will is sufficient. The reality is far more complicated. Business owners […]

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How to Keep Wealth in Your Family for Generations

Matthew Konchel, Esquire — Mon, 03 Nov 2025 13:00:06 +0000

Many families focus on building wealth, but fewer think about keeping it. Research shows that a majority of wealthy families lose their wealth by the second generation, and by the third generation, the number climbs as high as 90%. That happens not because parents lack concern for their kids, but because key pieces of planning are missing. […]

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Estate Planning for Unmarried Couples: Protecting the Life You’ve Built Together

Matthew Konchel, Esquire — Mon, 27 Oct 2025 12:00:28 +0000

You’ve built a life with someone you love – sharing a home, experiences, and maybe even finances – but without legal marriage, the law doesn’t automatically recognize your relationship. That means if something happens to you, your partner could be left without legal rights to your property, finances, or even decisions about your medical care. […]

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5 Strategies to Get Your Business Ready for Tax Season

Matthew Konchel, Esquire — Mon, 27 Oct 2025 12:00:18 +0000

Tax season can be a stressful time for many entrepreneurs. Even if a team member is on top of the day-to-day bookkeeping, tax season can still sneak up on you. As a business owner, your role isn’t just about making sure the numbers add up. It’s about making sure the right strategies are in place […]

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5 Reasons Your Business Needs an Annual Legal Checkup

Matthew Konchel, Esquire — Mon, 20 Oct 2025 12:00:33 +0000

You wouldn’t go years without seeing a doctor, yet most business owners neglect their company’s “legal health” until a crisis hits. The truth is, your business faces constant change, from shifting laws and tax codes to evolving business partnerships, new products, and digital risks. Without regular checkups, those changes can quietly create legal, financial, or […]

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Estate Planning Awareness Week: Why Planning Is the Greatest Gift You Can Give Your Loved Ones

Matthew Konchel, Esquire — Mon, 20 Oct 2025 12:00:22 +0000

October 20–26, 2025, is Estate Planning Awareness Week – a national observance created to encourage Americans to think about what will happen to their loved ones and their assets after they die. For many people, the term estate planning brings to mind stacks of legal documents, a will, a trust, a healthcare directive, or powers […]

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Why It Matters to Your Loved Ones That You Work With the Right Lawyer

Matthew Konchel, Esquire — Mon, 13 Oct 2025 12:00:43 +0000

When someone you love dies, grief hits hard enough. But imagine adding legal chaos, confusing paperwork, and no one to guide you through it all. That’s the reality for thousands of people every year who are left to navigate a confusing, messy, and expensive legal and financial process without support. In this article, you’ll read […]

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Don’t Let Text Marketing Sink Your Business: What You Need to Know About SMS Compliance

Matthew Konchel, Esquire — Mon, 13 Oct 2025 12:00:34 +0000

Text message marketing has become one of the most effective tools for reaching customers. With open rates often above 90%, SMS messages cut through the noise of crowded inboxes and social feeds. But there’s a catch: the legal and financial risks of getting text marketing wrong are enormous. In this article, you’ll learn: Why compliance […]

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When Debt Isn’t Bad: Using Business Credit as a Tool for Growth

Matthew Konchel, Esquire — Mon, 06 Oct 2025 12:50:38 +0000

When you hear the word “debt,” what comes to mind? For most people, it’s stress, shame, high interest rates, and endless bills. Consumer debt like credit cards and payday loans can definitely derail your finances. According to the Federal Reserve, U.S. households collectively carry more than $1.2 trillion in credit card debt, much of it […]

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Why You Don’t Want an Initial Consultation, But a Life & Legacy Planning® Session Instead

Matthew Konchel, Esquire — Mon, 06 Oct 2025 12:00:08 +0000

If you are like most people, you probably assume that when the time comes, someone—your spouse, your children, or maybe a close friend—will be there to take care of you. But the truth is, more Americans than ever are living alone as they age, often without a clear plan for support. According to AARP, more […]

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The End of the Federal Non-Compete Ban: What It Means for Your Business

Matthew Konchel, Esquire — Mon, 29 Sep 2025 12:00:44 +0000

For years, business owners have been watching the Federal Trade Commission (FTC) try to ban non-compete agreements nationwide. That effort is now officially over. On September 5, 2025, the FTC dropped its appeals in two lawsuits that had already blocked the rule in court and agreed to let the rule be permanently thrown out. FTC Chairman Andrew […]

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The Hidden Risks of Growing Older Without a Life & Legacy Plan

Matthew Konchel, Esquire — Mon, 29 Sep 2025 12:00:23 +0000

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Living With Loss: The Daily Impact of Grief and the Gift of Planning Ahead

Matthew Konchel, Esquire — Mon, 22 Sep 2025 12:00:58 +0000

Losing someone you love reshapes your world in ways you may never expect. Some changes are obvious—you no longer share birthdays, dinners, or conversations. But the harder truth is that grief often weaves itself into the smallest details of daily life. You may notice it when you pour coffee into only one mug, when you […]

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Do You Know What Would Happen to Your Business If You Die Tomorrow?

Matthew Konchel, Esquire — Mon, 22 Sep 2025 12:00:33 +0000

Running a business takes grit, determination, and countless hours of work. You pour yourself into building something valuable, not just for yourself but for your family, employees, and community. But have you ever stopped to ask: What would happen to my business if I died suddenly? The truth is, most business owners haven’t. And the […]

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The 4 Hidden Risks in Your Business (And How to Fix Them Before They Cost You Everything)

Matthew Konchel, Esquire — Mon, 15 Sep 2025 12:00:35 +0000

When you started your business, you probably focused on growth, clients, and revenue. And that makes sense—those things pay the bills. But if you’ve overlooked the foundation of your business, you may be building on shaky ground. Here’s the truth: most entrepreneurs focus on sales and marketing while ignoring legal, insurance, financial, and tax systems. […]

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The Surprising Connection Between Meal Planning and Estate Planning Done the Right Way

Matthew Konchel, Esquire — Mon, 15 Sep 2025 12:00:23 +0000

My colleague told me a story recently. Her son moved into his first apartment at college and had to go grocery shopping on his own for the first time. After he got back from the store, he called her in disbelief: “Food is so expensive! Can you help me figure out how to meal plan […]

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How to Make Networking Nourishing, Fun, and Effective

Matthew Konchel, Esquire — Mon, 08 Sep 2025 12:00:56 +0000

Most entrepreneurs have a love-hate relationship with networking. You know you need it to grow your business, but traditional networking, awkward mixers, forced small talk, and business cards that gather dust often feel like a waste of time. Instead of walking away energized, you leave drained and wondering why you bothered. But networking doesn’t have […]

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Don’t Lose Your Family Stories: How to Preserve Your Legacy Before It’s Too Late

Matthew Konchel, Esquire — Mon, 08 Sep 2025 12:00:28 +0000

A client once told me she would give anything to hear her grandmother’s voice again. Her grandmother had been the heart of the family—the one who told stories about how she survived the Great Depression and how she fell in love with her husband. But when she passed away, those stories went with her. They […]

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The $1.5 Million Estate Planning Mistake You Can’t Afford to Make

Matthew Konchel, Esquire — Mon, 01 Sep 2025 12:09:52 +0000

Picture this: You and your spouse spend decades building a successful business, accumulating assets, and creating a stable life for your family. You think you’ve done everything right with your estate planning. Then tragedy strikes, and a simple paperwork error costs your children $1.5 million in taxes they never should have owed. This isn’t a […]

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The Wake-Up Call: Why Business Owner Burnout Is a Silent Success Killer

Matthew Konchel, Esquire — Mon, 01 Sep 2025 12:00:13 +0000

Picture this: You’re checking emails at midnight, haven’t had a real vacation in two years, and the last time you exercised was… well, you can’t even remember. If this sounds familiar, you’re not alone. You’re also not invincible. The entrepreneurial world has a dirty little secret that nobody talks about at networking events. While we […]

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How Forward-Thinking Business Owners Pay Less Taxes

Matthew Konchel, Esquire — Mon, 25 Aug 2025 12:00:39 +0000

Many business owners think about taxes only when it’s time to file their returns. They gather receipts, download bank statements, and rush to meet the April deadline. Sound familiar? This approach to taxes – known as tax preparation – is costing you money. The alternative is tax planning, a proactive year-round strategy that can significantly […]

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The Cost of a Cheap Plan: Why “Bargain” Estate Planning Often Costs the Most

Matthew Konchel, Esquire — Mon, 25 Aug 2025 12:00:25 +0000

I had an interesting conversation with a potential client last week. After explaining my Life & Legacy Planning® process, she said, “This all sounds great, but my friend told me I can get a trust done for half the price somewhere else.” I hear this fairly often, and I completely understand the concern. Nobody wants […]

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When Every Dollar Counts: How Labor Day Reminds Us That Life & Legacy Planning Is More Essential Than Ever

Matthew Konchel, Esquire — Mon, 25 Aug 2025 12:00:14 +0000

Labor Day has always been about honoring the American worker—the people who build our communities, power our economy, and create the foundation of our society. But this year, as we fire up our grills and enjoy that long weekend, there’s an elephant in the room that deserves our attention. For millions of working families, every […]

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8 Business Strategies for Managing Difficult Clients Like a Pro – Part 2

Matthew Konchel, Esquire — Mon, 18 Aug 2025 12:00:52 +0000

In Part 1 of this series, we explored how clear expectations, solid contracts, smart collections, and dispute resolution systems can help you avoid most client issues. But as every business owner knows, systems alone can’t stop every storm. Sometimes, you’re already in a tense or emotionally charged situation. That’s when you need more than just […]

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When Fame Can’t Fix Family: What Hulk Hogan’s Estate Teaches Us About Failed Planning

Matthew Konchel, Esquire — Mon, 18 Aug 2025 12:00:10 +0000

When wrestling legend Hulk Hogan died at age 71, the world lost an icon. But behind the headlines about his estimated $25 million estate and decades of wrestling fame lies a heartbreaking family story that offers powerful lessons for anyone with people they love. This story demonstrates that wealth and fame can’t substitute for the […]

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8 Business Strategies for Managing Difficult Clients Like a Pro – Part 1

Matthew Konchel, Esquire — Mon, 11 Aug 2025 12:00:43 +0000

You work hard to deliver a great service. Most of your clients appreciate that. But every business eventually faces a difficult client—the one who blows up your inbox with demands, refuses to pay, or pushes every boundary you’ve set. These situations don’t just drain your time and energy; they can damage your company’s reputation and […]

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Why Estate Documents Fail: The Hidden Truth About Traditional Estate Planning

Matthew Konchel, Esquire — Mon, 11 Aug 2025 12:00:27 +0000

You hired a lawyer, signed your estate planning documents, and filed them safely away. Or maybe your financial advisor created your documents, or you might have done them yourself online, for free using AI. You think your work is done. But then you die, and your loved ones are left battling court delays, family conflict, […]

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“It Has Been Such a Good Life”: The Legacy Your Loved Ones Need

Matthew Konchel, Esquire — Mon, 04 Aug 2025 12:00:10 +0000

When Anna Harp lost her father, Rudolph Clausing, she didn’t get to say goodbye. It was January 2021, during the height of the COVID-19 pandemic. Her dad had been battling lung disease when he contracted the virus, and strict hospital protocols meant his family couldn’t be by his side in his final days. Anna was […]

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Why Your Business Needs a Legal Advisor, Not Just a Lawyer

Matthew Konchel, Esquire — Mon, 04 Aug 2025 12:00:03 +0000

You’re building something meaningful. Your business is growing and opportunities are emerging faster than you can keep up. But with new opportunities comes new risk. When legal questions arise, do you hesitate to pick up the phone to call a lawyer? Maybe you’re worried about getting hit with an unexpected bill. Maybe you’re not even […]

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The Cost of a Bad Hire: How to Build Systems That Protect Your Business

Matthew Konchel, Esquire — Mon, 28 Jul 2025 12:00:34 +0000

When you’re running a business, every hire feels critical. You need talent that fuels growth, not drains resources or derails progress. Yet, a staggering 75% of employers admit to hiring the wrong person, and the consequences extend far beyond just finances. A bad hire also drains your time, energy, and attention, significantly decreasing your team’s […]

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Nobody Prepared Me for This! The Reality of Managing Inherited Real Estate

Matthew Konchel, Esquire — Mon, 28 Jul 2025 12:00:16 +0000

You’ve just lost someone important to you, and now you’re responsible for their home. Maybe it’s sitting empty while you figure out what to do next. Maybe you’re planning to sell it, or perhaps other family members want to move in eventually. Whatever your plans, you’re about to discover that an empty house needs almost […]

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100 Heirs, $17 Billion, and 1 Big Estate Plan: What You Can Learn from a Tech Billionaire

Matthew Konchel, Esquire — Mon, 21 Jul 2025 12:00:26 +0000

Imagine you’re worth $17 billion and have over 100 biological children—some born through relationships, others through anonymous sperm donations. What would your estate plan look like? More importantly, what could go wrong if you didn’t have one? In a recent interview with Le Point magazine, Pavel Durov, the co-founder of Telegram, revealed exactly that. Durov, […]

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7 Legal Mistakes That Could Destroy Your Business (And How to Avoid Them): Part 2 of 2

Matthew Konchel, Esquire — Mon, 21 Jul 2025 12:00:13 +0000

Welcome back to our exploration of the seven legal mistakes that could destroy everything you’ve worked to build. In Part 1, I covered four fundamental legal oversights: operating without proper contracts, misclassifying workers, ignoring industry regulations, and failing to protect your intellectual property. Today, I’m addressing the final three mistakes that can be devastating to […]

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The One Big Beautiful Bill: What It Means for Your Family’s Financial Future

Matthew Konchel, Esquire — Mon, 14 Jul 2025 12:25:40 +0000

The massive tax legislation known as the “One Big Beautiful Bill” (“OBBB”) became law on July 4, 2025, brings sweeping changes that will affect nearly every American family. While much of the media attention has focused on the political drama surrounding its passage, what really matters is how these changes impact your family’s financial security […]

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7 Legal Mistakes That Could Destroy Your Business (And How to Avoid Them): Part 1 of 2

Matthew Konchel, Esquire — Mon, 14 Jul 2025 12:00:51 +0000

You’ve poured your heart, soul, and savings into building your business. You’ve worked countless hours, made sacrifices, and overcome numerous challenges to get where you are today. But despite all your hard work, a single legal mistake could unravel everything you’ve built. The good news is that most legal disasters are entirely preventable when you […]

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The Life-or-Death Decisions Your Family Shouldn’t Have to Make Alone

Matthew Konchel, Esquire — Mon, 14 Jul 2025 12:00:32 +0000

When you think about estate planning, you probably picture wills, trusts, and who gets what. But what happens when decisions are made about your body, without your full consent or when you’re not really gone? A recent federal investigation uncovered a chilling truth: in dozens of cases, patients showed signs of life even as hospital […]

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Business in the Age of AI: Why You Still Need Strategy, Oversight, and a Trusted Guide

Matthew Konchel, Esquire — Mon, 07 Jul 2025 12:00:06 +0000

Artificial intelligence is changing the way we work, and fast. From automated emails to AI-generated contracts and marketing content, business owners are increasingly relying on these tools to save time and boost efficiency. But as the pace of AI adoption accelerates, so do the risks. If you’re a business owner, you may be wondering: Should […]

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When Paradise Turns to Pain: Jimmy Buffett’s Estate Battle

Matthew Konchel, Esquire — Mon, 07 Jul 2025 12:00:03 +0000

Jimmy Buffett built an empire around the laid-back “Margaritaville” lifestyle, but his $275 million estate has become anything but relaxing for his family. The legendary singer’s widow and his longtime business manager are now locked in a bitter legal battle that could have been avoided with better planning and communication. In this article, you’ll discover […]

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5 Myths About Intellectual Property That Could Cost Your Business

Matthew Konchel, Esquire — Mon, 30 Jun 2025 12:00:43 +0000

You’ve built something special. Maybe it’s an innovative product, a recognizable brand, or a unique process that sets you apart from competitors. But dangerous misconceptions about intellectual property could leave your most valuable assets completely unprotected. Intellectual property (IP) myths are costing businesses millions in lost revenue, legal battles, and missed opportunities. Let’s explore five […]

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Life, Liberty, and Legacy: How Life & Legacy Planning Promotes Independence

Matthew Konchel, Esquire — Mon, 30 Jun 2025 12:00:31 +0000

Every Fourth of July, we celebrate more than fireworks and barbecues. We honor the bold vision of people who refused to accept the status quo and instead created a framework for lasting freedom. The Declaration of Independence wasn’t just a document—it was a comprehensive plan that established principles, assigned responsibilities, and created structures to protect […]

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A Texas Mail Carrier’s Act of Love Shows Why Your Pets Need a Plan Too

Matthew Konchel, Esquire — Mon, 23 Jun 2025 12:00:32 +0000

When Ian Burke, a mail carrier from Destin, Texas, heard that Floyd—a 70-pound dog he’d befriended on his delivery route—had ended up in a shelter after his owner’s death, he didn’t hesitate. Burke arrived at the City of Denton Animal Shelter before it opened to be first in line to adopt Floyd and give him […]

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How to Fund Your Business When You Have a Low Credit Score

Matthew Konchel, Esquire — Mon, 23 Jun 2025 12:00:02 +0000

You’ve got a big idea. You’ve done the research, you know your market, and you’re ready to build a business that solves a real problem. But one thing keeps getting in the way: your credit score. Whether due to past financial hardships, student loans, or simply a lack of credit history, a low credit score […]

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How Authentic Relating Can Save Your Business From Costly Conflicts

Matthew Konchel, Esquire — Mon, 16 Jun 2025 12:00:43 +0000

Running a business means dealing with people, and dealing with people means navigating the messy, complicated world of human relationships. You’ve probably experienced it firsthand—two valued employees who can’t seem to work together, a team member whose attitude is affecting everyone’s morale, or communication breakdowns that spiral into formal complaints and potential legal issues. What […]

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Breaking the Cycle: How Life & Legacy Planning Protects Black Families’ Generational Wealth

Matthew Konchel, Esquire — Mon, 16 Jun 2025 12:00:05 +0000

The statistics are sobering. According to the Federal Reserve’s 2022 Survey of Consumer Finances, the wealth gap between white Americans and Black Americans is approximately $241,120. This disparity didn’t happen by accident. It’s the result of centuries of policies and practices that systematically prevented Black Americans from building and preserving wealth. From slavery and Jim […]

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Heads Up! Major Tax Changes on the Horizon

Matthew Konchel, Esquire — Mon, 09 Jun 2025 12:00:17 +0000

The House recently passed what many are calling “One Big, Beautiful Bill” that could reshape the tax landscape for individuals and businesses. While it still needs to pass the Senate, and the President sign it into law, understanding these potential changes now gives you time to prepare and potentially benefit from new opportunities. Check back […]

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How Small Businesses Can Offer Great Healthcare Benefits Without Going Broke

Matthew Konchel, Esquire — Mon, 09 Jun 2025 12:00:13 +0000

Traditional group health insurance premiums have skyrocketed, with small businesses paying an average of $8,951 per employee in 2024, according to the Kaiser Family Foundation. Meanwhile, you’re watching talented team members struggle with medical bills or avoid necessary care because they can’t afford it. The healthcare challenge facing small businesses isn’t just about money—it’s about […]

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This Father’s Day Take Your Provision One Step Further

Matthew Konchel, Esquire — Mon, 09 Jun 2025 12:00:12 +0000

Father’s Day arrives each June filled with barbecues, baseball games, and heartfelt cards celebrating the dads who shape our lives. While ties and tool sets make thoughtful gifts, what if we turn the tables altogether and put the family resources toward a far more meaningful gift this Father’s Day—one that helps dad feel confident that […]

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Pride Month & Planning: Securing a Legacy That Lasts

Matthew Konchel, Esquire — Mon, 02 Jun 2025 12:00:37 +0000

As Pride Month begins, we celebrate the progress made toward equality while acknowledging that LGBTQIA+ individuals, couples, and families still face unique legal challenges. Despite the landmark decision in Obergefell v. Hodges that established marriage equality nationwide, gaps in legal protection remain that can affect everything from healthcare decisions to inheritance rights. Having proper estate […]

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Business Lessons from Bankruptcy: Famous Failures That Led to Billion-Dollar Comebacks

Matthew Konchel, Esquire — Mon, 02 Jun 2025 12:00:00 +0000

When we hear “bankruptcy,” most of us immediately think “failure.” But for some of the world’s most successful entrepreneurs, bankruptcy wasn’t the end—it was a painful but valuable stepping stone on the path to even greater success. These stories offer powerful lessons about resilience, strategic thinking, and the importance of having proper legal, insurance, financial, […]

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The Missing Will Mystery: How Zappos CEO’s Estate Chaos Could Have Been Avoided

Matthew Konchel, Esquire — Mon, 26 May 2025 12:00:45 +0000

Imagine this: You’ve built a business empire worth hundreds of millions of dollars, transformed a city’s downtown area, and touched countless lives with your vision and generosity. Then, unexpectedly, you pass away—and nearly five years later, a will you may have created suddenly appears. Meanwhile, your family has been battling creditors, former associates, and mounting […]

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Warning! Your Business Financial Systems Need an Upgrade

Matthew Konchel, Esquire — Mon, 26 May 2025 12:00:09 +0000

Do you ever feel as if your business finances are a black box that only your bookkeeper understands? Or perhaps your financial reports always arrive late, making it impossible to make timely decisions? Or maybe you don’t know how to read your financial reports and use them to predict the future of your business. Each […]

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Beyond Remembrance: How Memorial Day Can Inspire Leaving Your Own Legacy

Matthew Konchel, Esquire — Mon, 19 May 2025 12:00:45 +0000

Memorial Day isn’t just about barbeques or pool parties. It’s a day to collectively pause and honor the brave men and women who made the ultimate sacrifice for our freedom and security. As flags wave at half-staff and solemn ceremonies unfold across the country, this day of remembrance naturally guides our thoughts toward our own […]

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The Basics of Intellectual Property Every Business Owner Should Know

Matthew Konchel, Esquire — Mon, 19 May 2025 12:00:10 +0000

Navigating the world of intellectual property (IP) can feel overwhelming, but understanding these fundamental legal protections is crucial for your business success. Whether you’re just starting out or looking to strengthen your existing business, knowing how to protect your assets can make the difference between thriving and merely surviving in today’s competitive marketplace. Let’s explore […]

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The BYOD Dilemma: Protecting Business Data When Employees Use Personal Devices

Matthew Konchel, Esquire — Mon, 12 May 2025 14:00:11 +0000

The line between personal and professional lives has never been blurrier. With many employees now using their personal smartphones to check work emails, access company systems, and communicate with clients, businesses face significant data privacy challenges. While this flexibility offers convenience, it creates serious privacy and security risks that every business owner should address. Let’s […]

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Why Business Owners Deserve More Than an Easy or Cheap Estate Plan

Matthew Konchel, Esquire — Mon, 12 May 2025 14:00:01 +0000

Picture this: you’ve just set up your estate plan using a quick and easy online DIY form or a budget-friendly legal service. Or, maybe your financial advisor drafted it for you for a nominal fee while creating your financial plan. These options promise ease and convenience and at a fraction of the cost of hiring […]

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A Mother’s Legacy: Estate Planning as Your Greatest Expression of Love

Matthew Konchel, Esquire — Mon, 05 May 2025 14:00:27 +0000

When we think about Mother’s Day, we often picture breakfast in bed, handmade cards, and bouquets of fresh flowers. But what if there was a way for mom to express her love and care that extends far beyond their lifetime? This is where thoughtful estate planning enters the picture—not as a cold legal process, but […]

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LIFT: The Four Pillars to Secure the Foundation of Your Business Success

Matthew Konchel, Esquire — Mon, 05 May 2025 14:00:03 +0000

Have you ever tried to build a sandcastle too close to the water’s edge? No matter how intricate your design or how carefully you craft each tower, the tide inevitably washes it away. Running a business without robust foundational systems in place is surprisingly similar—except the stakes are considerably higher than a collapsed sand sculpture. […]

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The Death Tax Repeal Act of 2025: What It Could Mean for You and Your Loved Ones

Matthew Konchel, Esquire — Mon, 28 Apr 2025 14:00:53 +0000

Have you ever worked your entire life to build something valuable, only to worry about a significant portion being taken away after your death, and before it gets to the people you love? That’s the reality many American families face when thinking about the estate tax – sometimes called the “death tax.” There’s a legislative […]

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Different Minds, Better Business: How Neurodivergent Entrepreneurs Can Leverage Their Strengths

Matthew Konchel, Esquire — Mon, 28 Apr 2025 14:00:24 +0000

Meet Jane, a creative entrepreneur with dreams as vibrant as the art she sells. Like many neurodivergent individuals, Jane found traditional business systems more like straightjackets than supportive frameworks. Perhaps you’ve experienced something similar—staring at a desk cluttered with post-it notes that barely contain your swirling thoughts, wondering how other business owners seem to navigate […]

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Business Owner Burnout: Legal and Financial Strategies to Protect Your Company When You Need a Break

Matthew Konchel, Esquire — Mon, 21 Apr 2025 12:00:56 +0000

Many entrepreneurs pride themselves on their resilience and drive, often working tirelessly to build their businesses from the ground up. However, this relentless pace can lead to burnout, a state of emotional, physical, and mental exhaustion that can jeopardize both your health and your business. Business owner burnout is a common yet often overlooked risk […]

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10 Guardian Mistakes That Could Put Your Kids at Risk (And How to Do It Right)

Matthew Konchel, Esquire — Mon, 21 Apr 2025 12:00:00 +0000

Imagine this: something unexpected happens, and you’re suddenly unable to care for your children. It’s a parent’s worst nightmare. In this situation, you’d want to know that your kids will be loved, cared for, and raised according to the values you hold dear. But have you taken the right legal steps to ensure that happens? […]

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The $700 Million Mistake: Why an Asset Inventory Is an Essential Part of Your Estate Plan

Matthew Konchel, Esquire — Mon, 14 Apr 2025 12:00:49 +0000

Imagine accidentally throwing away $700 million. While it sounds like the plot of a movie, this nightmare scenario has become a reality for James Howells, a computer engineer from Wales, who has now spent more than a decade fighting to recover a discarded hard drive containing the private key to his Bitcoin fortune. Here’s what […]

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Creating Compliant HR Systems and Avoiding Costly Employment Law Mistakes

Matthew Konchel, Esquire — Mon, 14 Apr 2025 12:00:23 +0000

As a business owner, you’re juggling countless responsibilities daily. Between managing operations, driving sales, and planning for growth, HR compliance might fall to the bottom of your priority list. However, neglecting your HR systems can lead to expensive legal issues that could derail your business success. In this article, I’ll explore how implementing compliant HR […]

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Gene Hackman’s Estate: A Wake-Up Call

Matthew Konchel, Esquire — Mon, 07 Apr 2025 12:00:13 +0000

The recent passing of legendary actor Gene Hackman has revealed a complicated estate situation that serves as a powerful warning for everyone – married couples especially – regardless of your net worth. Whether you have significant assets or just want to ensure your wishes are honored during your lifetime and you don’t leave a mess […]

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Succession Planning for Small Business Owners: Starting the Conversation You’ve Been Avoiding

Matthew Konchel, Esquire — Mon, 07 Apr 2025 12:00:09 +0000

Most business owners spend years building their companies with dedication, sacrifice, and endless hours of hard work. You’ve likely poured your heart and soul into creating something meaningful that provides for your family and contributes to your community. But there’s an important question many business owners avoid: what happens to your business when you’re no […]

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Crafting a Return-to-Office Plan That Works for Everyone

Matthew Konchel, Esquire — Mon, 31 Mar 2025 12:00:29 +0000

Have you ever walked into your office after the weekend and felt that buzz of energy – the quick conversations by the coffee machine, the spontaneous brainstorming sessions, the sense of shared purpose that fills the air? Now imagine that feeling after more than a year of remote work. For many business owners, this vision […]

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Why Reviewing Your Trust Regularly Isn’t Optional—It’s Essential

Matthew Konchel, Esquire — Mon, 31 Mar 2025 12:00:10 +0000

You’ve taken the important step of creating an estate plan, and it includes a trust—congratulations! This shows you care deeply about keeping your family out of court and conflict, ensuring your wishes are known and honored, and you do not want to leave behind a mess for the people you love. Great work. But here’s […]

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Beyond the FDIC Safety Net: Protecting Your Cash When Your Savings Exceed Insurance Limits

Matthew Konchel, Esquire — Mon, 24 Mar 2025 12:00:34 +0000

Imagine this: You’ve spent decades carefully saving money, building a comfortable nest egg that represents years of hard work and discipline. One morning, you’re sipping coffee and browsing the news when headlines about a bank failure catch your eye. Your stomach drops as you realize a significant portion of your savings could be at risk […]

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How to Bulletproof Your Business Against Economic Uncertainty

Matthew Konchel, Esquire — Mon, 24 Mar 2025 12:00:06 +0000

In today’s market, business owners face unprecedented challenges from inflation, supply chain disruptions, and shifting consumer behaviors. The economic landscape can change rapidly, leaving unprepared businesses vulnerable to significant losses or even failure. However, with strategic planning and robust systems in place, you can fortify your business to withstand financial storms and emerge stronger on […]

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Til Death Do Us Part? Why Unmarried Couples Must Have An Estate Plan That Works For the People They Love

Matthew Konchel, Esquire — Mon, 17 Mar 2025 12:00:25 +0000

Love in the 21st century takes many forms, and for a growing number of couples, “forever” doesn’t always include a marriage license. While a deeply personal choice, being unmarried adds layers of legal and financial complexity that can’t be ignored, especially when it comes to protecting your assets and loved ones. Imagine this: you’ve built […]

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How to Safeguard Your Business from Your Business Partner’s Divorce

Matthew Konchel, Esquire — Mon, 17 Mar 2025 12:00:13 +0000

Most business partnerships begin with shared goals and optimism. But life happens, and personal matters—especially divorce—can create ripple effects that threaten your company’s financial stability, leadership continuity, and future. If you’re in business with a partner, their divorce isn’t just their personal issue; it could become your business’s problem, too. What types of problems could […]

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Building Stronger Teams Through Inclusive Leadership: A Business Success Strategy

Matthew Konchel, Esquire — Mon, 10 Mar 2025 12:00:50 +0000

When it comes to building a successful business, your ability to attract, retain and empower talented employees is crucial. Research consistently shows that companies thrive when they create workplace environments where all team members feel valued and supported to contribute their best work. Let’s explore practical strategies for fostering such an environment and examine how […]

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Planning a Trip? Protect Your Children with a Kids Protection PlanⓇ

Matthew Konchel, Esquire — Mon, 10 Mar 2025 12:00:11 +0000

As Spring Break approaches, followed by summer, you’re likely focused on planning the perfect getaway with your children – booking flights, reserving hotels, and mapping out exciting activities. But there’s one crucial aspect of travel planning that often gets overlooked: ensuring your children’s safety and care if something unexpected happens to you during your trip. […]

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A Female Founder’s Guide to Business Success

Matthew Konchel, Esquire — Mon, 03 Mar 2025 15:37:01 +0000

Women are launching businesses at an unprecedented rate, yet the road to success is rarely smooth. While female founders are proving their resilience and innovation daily, they still face unique challenges—from securing funding to balancing leadership with personal life demands. But let’s be clear: female entrepreneurs aren’t just keeping up; they’re redefining success on their […]

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Protecting Your Rights: Estate Planning Strategies for Same-Sex Couples

Matthew Konchel, Esquire — Mon, 03 Mar 2025 13:00:31 +0000

The political landscape is shifting, and many same-sex couples are worried about what could happen if federal protections for their marriages are rolled back. You’ve worked hard to build a life together, and the last thing you need is uncertainty about whether your marriage, your assets, or your rights will be recognized in the future. […]

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Estate Planning During Divorce: Lessons from Shannen Doherty’s Legacy

Matthew Konchel, Esquire — Mon, 24 Feb 2025 15:32:05 +0000

The July 2024 passing of beloved Gen X actress Shannen Doherty offers important lessons about estate planning during divorce. Known for her iconic roles in “Beverly Hills, 90210,” “Heathers” and “Charmed,” Doherty not only faced a courageous and public battle with breast cancer but also raced against time to finalize her divorce and protect her […]

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What All Business Owners Can Learn From Blake Lively’s Harassment Lawsuit

Matthew Konchel, Esquire — Mon, 24 Feb 2025 15:09:07 +0000

The Hollywood lawsuit between Blake Lively and Justin Baldoni brings workplace sexual harassment back into the spotlight. While this case involves celebrities, sexual harassment affects workplaces of all sizes and industries. As a business owner, understanding how to prevent and address sexual harassment is crucial for protecting both your employees and your company. Recognizing Sexual […]

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The Unexpected Challenges of Being an Estate Executor

Matthew Konchel, Esquire — Mon, 17 Feb 2025 15:30:58 +0000

When someone asks you to be the executor of their estate, it might seem like a straightforward responsibility – distribute assets according to their will and handle some paperwork. However, as many executors discover, the role involves far more complexity, time, and emotional labor than expected. Understanding these challenges now can help you better prepare, […]

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When Banks Say No: Alternative Funding Solutions for Your Business

Matthew Konchel, Esquire — Mon, 17 Feb 2025 15:05:30 +0000

When you started your business, you probably didn’t anticipate the challenges of securing financing for growth. Yet today’s lending environment has made traditional bank loans particularly difficult to obtain, especially for small and medium-sized businesses. In this article, I want to help you understand your options beyond conventional bank financing and guide you toward solutions […]

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The Truth About Business Insurance: Coverage Gaps Can Cost You Everything

Matthew Konchel, Esquire — Mon, 10 Feb 2025 15:43:43 +0000

Running a business involves taking calculated risks, but there’s one risk you should never take: having inadequate insurance coverage. While most business owners understand the importance of basic liability insurance, many are unaware of critical coverage gaps that could leave them exposed to devastating financial losses. In this article, I’ll explore common insurance blind spots […]

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The Valentine’s Gift That Truly Matters

Matthew Konchel, Esquire — Mon, 10 Feb 2025 15:18:02 +0000

As Valentine’s Day approaches, you might be thinking about flowers, chocolates, or a romantic dinner. And hey, those are all great (who doesn’t love a little chocolate?). But what if I told you there’s a way to show your love that lasts far longer than roses and holds far more meaning than any box of […]

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Trusts & Homeowner’s Insurance: What You Need to Know So You Don’t Get a Claim Denied In the Future

Matthew Konchel, Esquire — Mon, 03 Feb 2025 15:28:34 +0000

When you create an estate plan that includes a living trust, you’ve taken an essential step toward protecting your home and family from the cost of court. However, many people don’t realize that placing their home in a trust requires updating their homeowner’s insurance policy. Without this crucial step, you could face a devastating scenario: […]

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Smart Cost Control Strategies That Protect Your Business’s Future

Matthew Konchel, Esquire — Mon, 03 Feb 2025 15:20:41 +0000

Understanding how to control costs is essential for any business owner. But implementing cost-cutting measures without proper legal and financial planning can put your company at risk. While reducing expenses may feel like a straightforward path to increased profitability, hasty decisions in this area can expose your business to significant legal and financial vulnerabilities. Let’s […]

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National Unclaimed Property Day: Why Estate Planning is More Than Just Documents

Matthew Konchel, Esquire — Mon, 27 Jan 2025 15:34:00 +0000

Every year on February 1st, we observe National Unclaimed Property Day – a reminder of the staggering $60 billion in forgotten and abandoned assets currently held by state governments across America. And this isn’t just spare change we’re talking about. These are life insurance policies, forgotten bank accounts, uncashed checks, retirement funds, and other valuable […]

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Choosing the Right Business Structure: Beyond the Basic LLC

Matthew Konchel, Esquire — Mon, 27 Jan 2025 15:12:24 +0000

When starting a business, one of the most critical decisions you’ll face is choosing your business structure. While many entrepreneurs automatically gravitate toward forming an LLC (Limited Liability Company), this one-size-fits-all approach might not be optimal for your specific situation. Your choice of entity will affect everything from your tax obligations and personal liability to […]

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From Preparation to Recovery: When Disaster Strikes

Matthew Konchel, Esquire — Mon, 20 Jan 2025 15:48:04 +0000

When disaster strikes, time is your most precious resource. Whether it’s a wildfire, hurricane, or flood, being ready to act can make all the difference for you and your loved ones. Having a clear plan helps you stay calm and focused during emergencies. In this article, I will walk you through how to prepare for […]

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Single-Member LLCs: Are You Sure Your Assets Are Protected?

Matthew Konchel, Esquire — Mon, 20 Jan 2025 15:24:26 +0000

As a business owner, you’ve likely heard that forming a Limited Liability Company (“LLC”) is one of the best ways to protect your personal assets from business liabilities. While this can be true, the reality is more nuanced – especially if you’re the sole owner (generally called a “member” in an LLC). This is called […]

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4 Estate Planning Myths That Put Your Loved Ones at Risk

Matthew Konchel, Esquire — Mon, 13 Jan 2025 15:23:49 +0000

Surveys conducted in 2024 by Caring.com and Ameriprise Financial revealed a troubling trend: Americans are falling behind on estate planning. The Caring.com survey revealed that only 32% of Americans have a will – a 6% decline from 2023. The Ameriprise survey found that 52% of couples lack estate plans. These statistics highlight a dangerous disconnect […]

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The Dangers of DIY Legal Documents for Your Business

Matthew Konchel, Esquire — Mon, 13 Jan 2025 15:09:00 +0000

As a business owner, you may seek ways to save money and streamline your operations. The temptation to use DIY legal documents may seem appealing because of their low cost and convenience. After all, you can find templates online or generate them from DIY services, some even using AI, that promise to handle everything from […]

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Five Essential Steps to Protect Your Loved Ones in 2025

Matthew Konchel, Esquire — Mon, 06 Jan 2025 15:52:28 +0000

You know that uneasy feeling when you think about what everyone you love would do, if (and when) something happens to you? That nagging voice reminding you that you still haven’t created a will or trust or updated the estate plan you do have? As we enter 2025, it’s time to stop pushing those thoughts […]

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5 Essential Strategies for Creating a Business Plan That Works

Matthew Konchel, Esquire — Mon, 06 Jan 2025 15:31:16 +0000

Every successful journey starts with a map, and your business journey is no different. While many entrepreneurs feel overwhelmed by the idea of creating a business plan, seeing it as just another box to check or a document that will gather dust, a well-crafted business plan can be the difference between steering your business toward […]

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How the Incoming Trump Administration Could Affect Your Business

Matthew Konchel, Esquire — Mon, 30 Dec 2024 15:43:56 +0000

As we prepare for Donald Trump’s return to the White House in January 2025, business owners are naturally wondering how the new administration’s policies will impact their operations. From tax changes to regulation rollbacks, understanding what’s ahead can help you position your business strategically. Let’s explore the key areas likely to see significant changes and […]

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BOI/CTA UPDATE: Appeals Court Reinstates – Then Suspends – Corporate Transparency Act Filing Requirement

Matthew Konchel, Esquire — Mon, 30 Dec 2024 15:35:29 +0000

UPDATE: Many recent changes have occurred related to the Corporate Transparency Act (“CTA”) and the requirement for all business owners to disclose their personal information to the US government. Here’s what’s transpired since a Texas federal court first suspended the CTA filing deadline on December 3, 2024: On December 23, 2024, the 5th Circuit Court […]

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Estate Planning Meets FAFSA: Smart Strategies for Asset Ownership

Matthew Konchel, Esquire — Mon, 30 Dec 2024 15:13:45 +0000

When preparing for college expenses, understanding how financial aid and estate planning intersect can make a significant difference. This article will break down the essentials of how asset ownership influences aid eligibility, offer actionable strategies to increase the chances of receiving aid, and highlight estate planning tools that can protect your wealth while optimizing support […]

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Actions to Take Before 2024 Ends to Qualify for Specific Tax Credits

Matthew Konchel, Esquire — Mon, 23 Dec 2024 15:30:09 +0000

The end of the year can feel overwhelming, but it’s also a time to set yourself up for credits and deductions that can put real money back in your pocket come tax time this April. From the Earned Income Tax Credit to residential energy improvements and even adopting a child, there are a wealth of […]

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The Entrepreneur’s Guide to Sustainable Success: Why Self-Care Is Your Best Investment

Matthew Konchel, Esquire — Mon, 23 Dec 2024 15:02:44 +0000

As an entrepreneur, you’re probably familiar with the concept of ROI (Return on Investment). But have you considered that the most valuable investment you can make might be in yourself? While focusing on business growth, financial metrics, and customer satisfaction is crucial, neglecting your own wellbeing can ultimately undermine everything you’re working to build. Let’s […]

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Start Fresh: Strategic Productivity Practices to Power Your Business in the New Year

Matthew Konchel, Esquire — Mon, 16 Dec 2024 15:47:46 +0000

The end of the year is approaching, and as a business owner, you’re likely reflecting on the past twelve months while looking ahead to the future. While many focus on revenue goals and growth targets, there’s one fundamental aspect that can make or break your success in the coming year: productivity. By implementing the right […]

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Year-End Options for Giving to Charity

Matthew Konchel, Esquire — Mon, 16 Dec 2024 15:22:07 +0000

The desire to make a difference doesn’t end when we’re gone. For many people, incorporating charitable giving into their estate plan provides a way to support causes they care about while creating a lasting legacy. Whether you want to establish a scholarship fund, support medical research, or help your local community, thoughtful charitable planning can […]

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Managing Remote Workers: Legal Compliance in the Digital Age

Matthew Konchel, Esquire — Mon, 09 Dec 2024 15:43:00 +0000

The workplace landscape has dramatically shifted, with remote work becoming the norm rather than the exception. While this change offers incredible flexibility and access to global talent, it also brings complex legal challenges that many business owners overlook. As a business owner managing remote workers, you need to understand these challenges to protect your company […]

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Court Ruling Halts Corporate Transparency Act: What You Need to Know

Matthew Konchel, Esquire — Mon, 09 Dec 2024 15:27:27 +0000

A federal judge in Texas issued a ruling this week that could affect millions of business owners across the country. Let’s break down what this means for you and your business. The Ruling and Its Immediate Impact On December 3, 2024, a federal court issued a nationwide preliminary injunction blocking the Corporate Transparency Act (CTA) […]

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Common Estate Planning Questions Part 2 of 2

Matthew Konchel, Esquire — Mon, 09 Dec 2024 15:15:35 +0000

When it comes to planning for your family’s future, the options can feel overwhelming. Should you get a will? Create a trust? And what happens if you do nothing at all? These aren’t just academic questions – your choices today will impact your loved ones tomorrow. In this second installment of a two-part Q & […]

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Common Estate Planning Questions Part 1 of 2 – On How to Handle Your Assets

Matthew Konchel, Esquire — Mon, 02 Dec 2024 15:53:35 +0000

When it comes to estate planning, I get many questions about many topics. One of the most common questions I hear concerns account ownership and asset management. Understanding how accounts are titled and who has access to them isn’t just about convenience—it’s about ensuring your assets transfer smoothly to your loved ones while protecting them […]

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A Strategic Guide to Finding the Right Investment Partner

Matthew Konchel, Esquire — Mon, 02 Dec 2024 15:20:25 +0000

The landscape of business funding is constantly evolving. While large venture capital firms and private equity companies often make headlines with billion-dollar deals, small business owners must also understand how to find and work with investors who will support their vision rather than take control. According to a recent article in Inc. magazine, knowing what […]

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Celebrity Trademark Battle Highlights 3 Lessons for Business Owners

Matthew Konchel, Esquire — Mon, 25 Nov 2024 15:49:11 +0000

The recent settlement of a headline-making trademark dispute between Hailey Bieber’s skincare line and an established clothing retailer offers critical lessons for business owners about protecting their intellectual property. While most of us won’t face off against a celebrity with millions of social media followers, the case highlights risks every business owner should understand and […]

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Lessons from Tony Bennett’s Estate Battle

Matthew Konchel, Esquire — Mon, 25 Nov 2024 15:09:29 +0000

When legendary singer Tony Bennett passed away in July 2023, he left behind an estimated $100 million estate and, unfortunately, a family divide threatening to tarnish his legacy. His daughters Antonia and Johanna Bennett are now suing their brother, Danny, who serves as trustee of their father’s estate, alleging a lack of transparency and potential […]

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Finding Your Perfect Match: New Rules for Business Hiring

Matthew Konchel, Esquire — Mon, 18 Nov 2024 15:52:47 +0000

Today’s labor market presents unprecedented challenges for business owners. With unemployment at historic lows and skilled workers increasingly hard to find, you need a strategic approach to building your team. Whether you’re a startup founder or an established business owner, understanding modern hiring approaches can help you attract and retain the talent your company needs […]

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Beyond the Turkey: How Thanksgiving Can Inspire Your Family Legacy Planning

Matthew Konchel, Esquire — Mon, 18 Nov 2024 15:09:23 +0000

As Thanksgiving approaches, many families are busy planning menus, coordinating travel, and preparing for the big feast. While the turkey, stuffing, and pumpkin pie are important (and delicious) traditions, this cherished holiday offers something even more valuable—a perfect opportunity to think about, discuss, and preserve your family’s legacy. In this article, you’ll discover practical ways […]

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The Hidden Truth About Settling a Loved One’s Estate

Matthew Konchel, Esquire — Mon, 11 Nov 2024 15:57:43 +0000

When someone names you as their executor, it might feel like an honor – a sign that they trust you to handle their final affairs. However, what many people don’t realize is that being an executor can turn into a demanding part-time (or full-time) job that lasts months or even years, often during a time […]

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The Art of Balanced Business Decisions: Combining Heart and Head for Success

Matthew Konchel, Esquire — Mon, 11 Nov 2024 15:36:33 +0000

Running a business requires countless decisions, from minor daily choices to major strategic moves that can alter your company’s trajectory. As an entrepreneur, you might find yourself torn between trusting your instincts and relying purely on data. The truth is, successful business leadership requires both emotional intelligence and analytical thinking. Let’s explore how to strike […]

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Protect Your Life’s Work With Smart Succession Planning

Matthew Konchel, Esquire — Mon, 04 Nov 2024 15:53:38 +0000

You’ve built something special with your business. Whether it’s a small family enterprise or a growing company, you’ve poured your heart, soul, and countless hours into making it successful. But have you thought about what happens when you’re no longer there to run it? Many business owners put off succession planning, thinking they’ll get to […]

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Veterans: Your Legacy is Worth Protecting

Matthew Konchel, Esquire — Mon, 04 Nov 2024 15:27:04 +0000

As we approach Veterans Day, we pause to honor the brave men and women who have served our nation with unwavering dedication. Your military service demonstrated a profound commitment to protecting America’s future – and now it’s time to protect your family’s future through thoughtful estate planning I call Life & Legacy Planning. Just as […]

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Shelley Duvall and What We Can All Learn From Her Death

Matthew Konchel, Esquire — Mon, 28 Oct 2024 14:35:04 +0000

Shelley Duvall, best known for her role as Wendy Torrance in The Shining, passed away recently at the age of 75. While her acting legacy continues to captivate fans, her passing reveals important lessons about estate planning that everyone can learn from. In case you haven’t read about what’s happened to her estate since she […]

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The Independent Contractor Dilemma: Navigating Risks and Rewards

Matthew Konchel, Esquire — Mon, 28 Oct 2024 14:00:35 +0000

In today’s rapidly evolving “gig economy,” you might be torn between hiring full-time employees or independent contractors (ICs). This choice carries significant implications for your business, affecting everything from your bottom line to your legal obligations. Understanding the pros and cons of hiring ICs and knowing how to protect your business becomes crucial as the […]

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The Power of Business Systems to Boost Your Company’s Success

Matthew Konchel, Esquire — Mon, 21 Oct 2024 14:40:37 +0000

Running a business is like conducting an orchestra. Every section needs to play in harmony to create beautiful music. In the world of business, your systems are the sheet music that keeps everything in sync. Whether you’re managing a small startup or a growing enterprise, having effective business systems can be the difference between hitting […]

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Common Estate Planning Myths Debunked

Matthew Konchel, Esquire — Mon, 21 Oct 2024 14:04:02 +0000

October 21-27 is National Estate Planning Awareness Week, which means it’s time to shed light on this often misunderstood and frequently avoided topic. You might think estate planning is only for the wealthy or too complicated and expensive. These are just a few myths surrounding estate planning that I hear often. In reality, estate planning […]

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Microloans: Your Gateway to Small Business Success

Matthew Konchel, Esquire — Mon, 14 Oct 2024 14:40:35 +0000

Are you dreaming of starting your own business but struggling to find the funds? Or maybe you’re a small business owner looking for a financial boost to take your venture to the next level? If traditional loans seem out of reach, microloans might be the answer you’re looking for. In this article, you’ll discover how […]

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A Comprehensive Guide to Disaster Preparedness

Matthew Konchel, Esquire — Mon, 14 Oct 2024 14:09:10 +0000

In today’s world, where natural disasters and unforeseen events can disrupt our lives at a moment’s notice, preparedness is no longer a luxury; it’s a necessity. So to make sure you and your loved ones are prepared for any emergency situation, I’ve created this comprehensive guide to provide a strong foundation for your financial security […]

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Demystifying the Data for Small Business Owners

Matthew Konchel, Esquire — Mon, 07 Oct 2024 14:56:58 +0000

Are you overwhelmed by the sheer volume of data your business generates? Do you wonder which numbers are essential for making informed decisions? If so, you’re not alone. Many business owners need help identifying key performance indicators (KPIs) that can provide valuable insights into their operations. In this article, we’ll demystify data tracking and provide […]

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Navigating End-of-Life Care: Lessons from a Daughter’s Tragic Experience

Matthew Konchel, Esquire — Mon, 07 Oct 2024 14:15:54 +0000

In an aging society, you might find yourself facing difficult end-of-life decisions for your loved ones sooner than you expect. And when you do, you’ll realize the journey through end-of-life care is rarely straightforward. A recent and heartbreaking story published by Maggie Schneider Huston in Newsweek illustrates this fact. In this article, I’ll highlight key […]

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A Guide to Recent Supreme Court Wins for Small Businesses

Matthew Konchel, Esquire — Mon, 30 Sep 2024 14:49:23 +0000

As a small business owner, you must constantly navigate a complex legal landscape. From federal regulations to local ordinances, it’s hard to keep up with all the laws that affect you, but if you don’t, you could suffer the consequences. In this article, I’ll simplify the recent legal landscape for you by examining a few […]

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A Power of Attorney May Not Be What You Think

Matthew Konchel, Esquire — Mon, 30 Sep 2024 14:35:55 +0000

If you’ve ever considered planning for your future or helped someone plan for theirs, you’ve probably heard the term “power of attorney.” But do you really know what it is? The terms “power” and “attorney” carry weight but may not mean what you think. In fact, there are many misconceptions about what a power of […]

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Is a Four-Day Workweek the Future of Business?

Matthew Konchel, Esquire — Mon, 23 Sep 2024 14:58:58 +0000

The concept of a four-day workweek has gained significant traction in recent years, with many companies experimenting with this innovative approach to work-life balance. While the idea of having an extra day off each week may seem like a dream come true, the reality is more complex. Let’s delve into the pros and cons of […]

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Preventing Family Feuds Over Your Personal Belongings

Matthew Konchel, Esquire — Mon, 23 Sep 2024 14:36:22 +0000

The passing of a loved one is a heartbreaking event, filled with grief and sorrow. But the aftermath can become even more painful if disagreements over their personal belongings tear your family apart. These disputes, especially when centered around meaningful objects, can leave lasting wounds that may never fully heal. But it doesn’t have to […]

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Matthew Perry’s Estate Plan Demonstrates the Benefits of Trusts

Matthew Konchel, Esquire — Mon, 16 Sep 2024 14:11:00 +0000

When Matthew Perry, the beloved star of Friends, passed away last year, the world mourned the loss of a comedic icon. However, as details of his estate began to emerge, a curious puzzle presented itself: despite his reported net worth of $120 million, his bank account held (only) $1.5 million. Admittedly, this seems like a […]

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Advanced Planning Saved This Business and It Can Save Yours, Too

Matthew Konchel, Esquire — Mon, 16 Sep 2024 14:02:05 +0000

Imagine you’re playing a friendly game of disc golf with your spouse. Suddenly, you lose control of your left hand, and for a terrifying five minutes, you can’t speak. Your face droops and your body feels numb. You might think you’re too young to be having a stroke—but that’s exactly what happened to Jenny Bristow, […]

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The Secret to Effective Networking: It’s Not About You

Matthew Konchel, Esquire — Mon, 09 Sep 2024 14:56:31 +0000

As a business owner, networking may feel like a necessary evil. You have to get your name out there by meeting other people, but does it have to be so uncomfortable? Making small talk and figuring out how to promote yourself and your business without sounding cringy is no easy task for most of us. […]

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What Do Lasagna and Estate Planning Have in Common?

Matthew Konchel, Esquire — Mon, 09 Sep 2024 14:13:35 +0000

Have you ever heard horror stories about families fighting over Grandma’s jewelry or getting stuck in a never-ending legal battle after someone passes away? Or about how long it can take to sell a house tied up in the court process? What about family members being denied their inheritance completely? Unfortunately, these situations happen every […]

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3 Questions to Ask Yourself Before Creating Your Estate Plan With AI

Matthew Konchel, Esquire — Mon, 02 Sep 2024 14:44:57 +0000

Have you jumped on the AI bandwagon yet? If so, you’ve probably used it to make your life easier. AI can be incredibly helpful, especially when the stakes are low. Need a personalized meal plan or an exercise routine? AI can handle that. But when it comes to estate planning, some people use AI for […]

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Protect Your Profits: Don’t Gamble on Business Insurance

Matthew Konchel, Esquire — Mon, 02 Sep 2024 14:07:37 +0000

Being a business owner can be incredibly rewarding. It feels great to see an idea become a reality, increase your revenue, and create a job for someone who needs one. But, as all business owners know, with reward comes risk. There’s not much you can do to eliminate risk from your business entirely, but with […]

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Labor Day Reflections and Your Legacy

Matthew Konchel, Esquire — Mon, 26 Aug 2024 14:57:06 +0000

Labor Day, observed in the United States on the first Monday in September, is not only the unofficial end of summer but also a celebration of the contributions and achievements of American workers. Originating from the labor movement and the quest for better working conditions, Labor Day also provides an opportunity to think about your […]

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Bouncing Back After Business Failure: What to Do Next

Matthew Konchel, Esquire — Mon, 26 Aug 2024 14:19:11 +0000

Starting a business is tough; sometimes, despite all your best efforts, things don’t go as planned. When your business fails, it can feel like the end of the road. But here’s the good news: failure isn’t the end. It’s an opportunity to learn, grow, and come back stronger. Many successful entrepreneurs have failed before finding […]

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How Beneficiary Designations Put Your Family at Risk

Matthew Konchel, Esquire — Mon, 19 Aug 2024 14:35:16 +0000

You’ve worked hard to build your assets and secure your family’s future. Like many responsible adults, you’ve named beneficiaries on your retirement accounts, life insurance policies, and maybe even your banking and investment accounts. It feels good to know you’ve put something in place for your loved ones. But here’s the truth many financial advisors, […]

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The Corporate Transparency Act and What It Means for Your Small Business

Matthew Konchel, Esquire — Mon, 19 Aug 2024 14:18:02 +0000

You’ve poured your heart and soul into building your small business. You’ve worked tirelessly, made sacrifices, and taken risks. Now, a recent law could impact how you operate. It’s called the Corporate Transparency Act (CTA). This law, passed in 2021, aims to crack down on financial crimes like money laundering and tax evasion by requiring […]

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Would $23,000 Make a Difference to You?

Matthew Konchel, Esquire — Mon, 12 Aug 2024 14:52:46 +0000

Imagine discovering thousands of dollars that belong to you, only to be told you can’t have it. This frustrating scenario became a reality for a woman named Dale Benerofe, a Georgia resident, when she found $23,000 in unclaimed property from her deceased parents. Her tragic story sheds light on a little-known issue that affects millions […]

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The Supreme Court Case All Business Owners Should Know About

Matthew Konchel, Esquire — Mon, 12 Aug 2024 14:35:38 +0000

You might think Supreme Court cases don’t affect your daily life as a business owner, but think again. The recent decision in a case called Connelly v. United States handed down on June 6, 2024, has far-reaching implications that could hit you right in the wallet. This case fundamentally changes how the IRS values businesses, […]

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Understanding Mediation: A Practical Guide for Business Owners

Matthew Konchel, Esquire — Mon, 05 Aug 2024 14:49:36 +0000

Running a small business comes with its fair share of challenges, and disputes come with the territory. Whether it’s a disagreement with a vendor, a conflict with an employee, or a contractual issue with a client, knowing how to resolve these conflicts is crucial. The default method is court, but it’s time-consuming, expensive, and public. […]

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Would You Make This Million Dollar Mistake?

Matthew Konchel, Esquire — Mon, 05 Aug 2024 14:14:14 +0000

Imagine this: You’re in your twenties, just starting your career. You fill out a form at work, naming your live-in significant other as the beneficiary of your retirement account. You start contributing to your retirement account, and it begins to grow. Fast forward 28 years – you’ve long since ended that relationship, lived a full […]

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Celebrity Estate Plans Series Part 4 of 4: Elvis and the Scammers

Matthew Konchel, Esquire — Mon, 29 Jul 2024 14:19:15 +0000

For the last few weeks, we’ve discussed celebrities and how they planned for their deaths. We started with the King of Pop, Michael Jackson, so ending our 4-part series with the King of Rock, Elvis Presley, seems fitting. You may be wondering why I’ve chosen to talk about a man who’s been dead since 1977. […]

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What Arbitration Is and Why It Matters for Business Owners

Matthew Konchel, Esquire — Mon, 29 Jul 2024 14:04:12 +0000

Running a business means you will eventually face disputes. These conflicts could be with employees, customers, suppliers, or even business partners. When disagreements arise, the traditional route of resolving them in court can be time-consuming, expensive, and stressful – not to mention completely public. Anyone can look up a court case and read about the […]

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10 Small Business Tax Moves to Make the Second Half of the Year – Part 2

Matthew Konchel, Esquire — Mon, 22 Jul 2024 14:34:53 +0000

Welcome back, savvy small business owners! If you thought the first five tax moves we covered last week were exciting, buckle up because we’re about to take your tax strategy to the next level. In Part 1, we explored supercharging your retirement accounts, making the most of Section 179 deductions, turning your home office into […]

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Celebrity Estate Plans Series Part 3 of 4: Jay Leno’s Case is No Laughing Matter

Matthew Konchel, Esquire — Mon, 22 Jul 2024 14:10:14 +0000

For the last two weeks, we’ve discussed celebrities and how they planned (or didn’t!) for their deaths. In this third installment of our four-part celebrity series, we discuss a topic that no one wants to think about as it may seem to be a fate worse than death: incapacity. Unlike death, not everyone will become […]

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10 Small Business Tax Moves to Make the Second Half of the Year – Part 1

Matthew Konchel, Esquire — Mon, 15 Jul 2024 14:42:19 +0000

As a small business owner, you know that managing your finances strategically is crucial to your success. With the second half of 2024 underway, now is a great time to focus on the thing no one likes to talk about but can make a huge difference to your bottom line: taxes. I know it’s not […]

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Celebrity Estate Plans Series Part 2 of 4: Vanilla Ice Has Thoughts

Matthew Konchel, Esquire — Mon, 15 Jul 2024 14:23:29 +0000

This week, we’re continuing to look at the lives of 4 celebrities and how they’re preparing for the inevitable (or didn’t!). Last week, we examined Michael Jackson’s planning and the holes in his plan that resulted in his family being embroiled in court and conflict for 15 years and counting (if you missed it, go […]

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Turn Social Media Criticism into Business Opportunity – Part 2

Matthew Konchel, Esquire — Mon, 08 Jul 2024 14:36:02 +0000

Last week, we explored the first five strategies for effectively handling negative reviews on social media, including staying calm, responding promptly, maintaining professionalism, addressing specific issues, and taking conversations offline. As I discussed, these tactics can help you transform criticism into opportunities for growth, demonstrating your commitment to excellent customer service. In this second part […]

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Celebrity Estate Plans Series Part 1 of 4: Michael Jackson

Matthew Konchel, Esquire — Mon, 08 Jul 2024 14:02:01 +0000

What is it about celebrities that always draws us in? For whatever reason, we just can’t resist a good, juicy celebrity story. Maybe it’s because we can relate in some way, or maybe we feel like we can’t relate and that’s what makes celebrities interesting. Their lives always seem attractive but somehow… just out of […]

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Turn Social Media Criticism into Business Opportunity – Part 1

Matthew Konchel, Esquire — Mon, 01 Jul 2024 14:37:59 +0000

As a small business owner, navigating the world of social media reviews can be daunting. A single negative review can feel like a personal attack and a potential threat to your brand’s reputation. However, handling these reviews with grace and strategy – as well as the support of a trusted advisor – can actually strengthen […]

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Value Freedom? Here’s Why an Estate Plan Is Your Declaration of Independence

Matthew Konchel, Esquire — Mon, 01 Jul 2024 14:02:21 +0000

As you celebrate the Fourth of July and all it represents – freedom, independence, and the pursuit of happiness – take pride in the ultimate American liberty: the right to decide your own affairs, even after death or in the event of incapacity. An estate plan, specifically a Life & Legacy Plan, is the way […]

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Become a Stronger Leader Through Self-Awareness

Matthew Konchel, Esquire — Mon, 24 Jun 2024 14:48:19 +0000

As a small business owner, you wear many hats and juggle countless responsibilities every single day. From managing employees to handling finances to keeping customers happy, strong leadership is critical to your company’s success. But what makes a truly effective leader? While there are many qualities that great leaders possess, one that is often overlooked […]

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The Surprising Connection Between Men’s Health and Estate Planning

Matthew Konchel, Esquire — Mon, 24 Jun 2024 14:47:24 +0000

June marks Men’s Health Month, a time dedicated to raising awareness about health issues predominantly affecting men and encouraging the early detection and treatment of disease among men and boys. So this month, let’s turn the focus to you, gentlemen. You already know that taking care of your health allows you to prolong your life […]

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They’re Not Kids Anymore! Navigating Your Child’s Transition Into Adulthood

Matthew Konchel, Esquire — Mon, 17 Jun 2024 14:29:27 +0000

When your child turns 18, they’re legally considered an adult even though they have a lot more growing to do (though they may not think so!). Just like any other adult, their health and financial information is protected by privacy laws. But unlike any other adult, that’s still your child and you want to be […]

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The Surprising Secret to Business Success: Replacing Yourself!

Matthew Konchel, Esquire — Mon, 17 Jun 2024 14:01:50 +0000

You started your business as a labor of love, nurturing it through those tough early years with grit and personal sacrifice. Over time, that seedling grew into a successful enterprise through your sheer force of will and hands-on leadership. Your business has become an extension of yourself. After all, you are the boss, the visionary, […]

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From Basement Beginnings to Business Brilliance: The Nitro Bar’s Story

Matthew Konchel, Esquire — Mon, 10 Jun 2024 14:29:11 +0000

The path to entrepreneurial success is paved with challenges and triumphs, often born from humble beginnings. Today, I’ll highlight such a story. Audrey Finocchiaro and Sam Lancaster are the founders of The Nitro Bar, a cold brew coffee business in Rhode Island. They started their business in 2016 in Audrey’s parents’ basement, and with long […]

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Father Knows Best: Avoiding Common Estate Planning Pitfalls

Matthew Konchel, Esquire — Mon, 10 Jun 2024 14:02:59 +0000

If you’re a father, you’ve always strived to provide the best for your family, ensuring their well-being and securing their future. However, even the most well-intentioned plans can falter if you overlook the complexities of estate planning. So this Father’s Day, let’s celebrate all of you dads and explore some common pitfalls that fathers often […]

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8 Tips to Help Secure Outside Funding for Your Business

Matthew Konchel, Esquire — Mon, 03 Jun 2024 14:57:12 +0000

As an entrepreneur, you can appreciate how difficult it may be to get funding for your business. You’ve pitched your heart out, refined your business plan, and networked like it’s an Olympic sport, yet the only word you seem to hear from investors is “no.” But fret not! It’s possible to turn that “no” into […]

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Protecting Your LGBTQIA+ Family: A Pride Month Guide to Estate Planning for Non-Biological Parents

Matthew Konchel, Esquire — Mon, 03 Jun 2024 14:55:54 +0000

As an LGBTQIA+ non-biological parent, June’s arrival sparks a flurry of Pride celebrations reminding you of the remarkable progress the community has made, while also shining a light on the ongoing fight for full equality. One area where you may still face unique legal hurdles is in ensuring your parental rights are properly protected, if […]

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Understanding Liability: How to Protect Your Business From Lawsuits

Matthew Konchel, Esquire — Mon, 27 May 2024 14:55:43 +0000

Managing a business comes with its own set of challenges, and one of the most formidable is the potential for litigation. Legal disputes can drain your financial resources, consume precious time, and tarnish your company’s reputation. However, strategic planning and support from a trusted advisor can significantly mitigate these risks, safeguarding both your personal and […]

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Memorial Day Reflections: Crafting Your Lasting Legacy With Estate Planning

Matthew Konchel, Esquire — Mon, 27 May 2024 14:32:03 +0000

Memorial Day brings with it an opportunity to reflect on the concepts of mortality, remembrance, and legacy. As we remember the brave men and women who lost their lives serving in the military, may this day also inspire you to think about the legacy you wish to leave behind. But, first, what is a legacy, […]

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10 Steps to Take Now to Secure a Comfortable Retirement: Part 2

Matthew Konchel, Esquire — Mon, 20 May 2024 14:48:38 +0000

Welcome back to our discussion on securing a comfortable retirement! In the first part of this series, we explored essential steps including estate planning, preparing for long-term care, and passing on your legacy. As we continue with the second part of our series, we’ll delve into additional areas that are crucial for ensuring your golden […]

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10 Survival Strategies for Today’s New Entrepreneur: Part 2

Matthew Konchel, Esquire — Mon, 20 May 2024 14:31:54 +0000

Welcome back to our exploration of foundational strategies for building a successful business. In the first part of this series, we discussed the importance of partnerships, preparedness, inclusivity, team support, and maintaining a unique business identity. In this second installment, we continue with 5 more strategies that are essential for modern entrepreneurs aiming to thrive […]

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10 Steps to Take Now to Secure a Comfortable Retirement: Part 1

Matthew Konchel, Esquire — Mon, 13 May 2024 14:54:13 +0000

Retirement is more than just an end to the working years; it’s an exciting new phase of life that requires thoughtful preparation and strategic planning. Since May is Older Americans Awareness Month, it’s the perfect opportunity to explore 10 steps you can take now to ensure a comfortable and fulfilling retirement. In this article, we’ll […]

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10 Survival Strategies for Today’s New Entrepreneur: Part 1

Matthew Konchel, Esquire — Mon, 13 May 2024 14:03:27 +0000

Any successful entrepreneur will tell you that starting your own business is a thrilling endeavor that requires creativity, resilience, and strategic thinking. Whether you’re planning to launch a disruptive tech startup or open a charming local cafe, there are foundational strategies that will help you lay a strong groundwork for success and help you survive […]

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The FTC’s Non-Compete Ban: What It Means For Small Business

Matthew Konchel, Esquire — Mon, 06 May 2024 14:48:12 +0000

The Federal Trade Commission’s (FTC) recent decision to ban non-compete agreements marks a significant shift in how labor markets will operate across the United States. This rule, passed by a narrow 3-2 vote on April 23, 2024, prohibits the use of non-compete clauses nationwide but allows some leeway for senior executives. As a small business […]

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Estate Planning: A Gift of Peace and Power for Every Mother

Matthew Konchel, Esquire — Mon, 06 May 2024 14:28:22 +0000

Moms spend their days and nights thinking about how to make sure their children are happy, healthy, and safe. If you’re a mom, you know. If you aren’t a mom, you were born because of a mom. It’s one of the two things we all have in common. So, as Mother’s Day approaches, let’s talk about […]

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The Dark Side of the Internet: Protect Yourself From Online Scams and Digital Attacks

Matthew Konchel, Esquire — Mon, 29 Apr 2024 14:33:53 +0000

In the digital age, online scams and cyber attacks are becoming more frequent, posing risks to not only everyday users but also to lawyers who manage clients’ sensitive information. But there’s no need to fear if you take measures to keep your data safe. And if (when?) you’re working with a lawyer, you should also […]

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Avoid Accidentally Using Someone Else’s Trademark in 4 Practical Steps

Matthew Konchel, Esquire — Mon, 29 Apr 2024 14:05:05 +0000

The journey of launching a new business or expanding an existing one brings the thrill of crafting a unique identity—choosing a catchy name, designing an eye-catching logo, and selecting other branding elements. This creative process is exhilarating, yet it’s fraught with hidden dangers, notably the risk of infringing on another company’s established trademark. This mistake […]

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Using Credit Cards to Fund Business Growth: What Entrepreneurs Need to Know

Matthew Konchel, Esquire — Mon, 22 Apr 2024 14:47:43 +0000

Starting a business is an exciting venture, but it also comes with a plethora of challenges, not least among them securing adequate funding. In a previous article, I discussed the pros and cons of business loans and lines of credit. Here, I’ll cover another funding resource: credit cards. However, the thought of using credit cards […]

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What Happens To Your Social Media Account When You Die?

Matthew Konchel, Esquire — Mon, 22 Apr 2024 14:20:59 +0000

When you die, what happens to your online life? Each social media platform has its own rules for dealing with the accounts of deceased users, ranging from permanent deletion to transforming accounts into places for mourning and memory. Understanding these options is essential for managing digital assets responsibly and respecting your wishes. So let’s take […]

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Why Estate Planning Is the Best Use of Your Tax Refund

Matthew Konchel, Esquire — Mon, 15 Apr 2024 14:51:03 +0000

When that extra bit of money from your tax refund lands in your bank account, (kinda feels like Christmas, doesn’t it?) it’s easy to start dreaming about all the ways you can use it. Financial experts may tell you that it’s a chance to pay off debts, tuck away savings for an emergency, or add to […]

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Effective Communication for Effective Leadership: A Guide for Entrepreneurs

Matthew Konchel, Esquire — Mon, 15 Apr 2024 14:44:59 +0000

In the entrepreneurial world, where innovation and vision drive the future, the importance of effective communication is often overlooked. But the ability to convey your ideas clearly, persuade and inspire action can make or break your business. Being able to communicate well is crucial for business leaders. It’s not merely a “nice to have” skill […]

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Navigating the World of Cryptocurrency: A Guide for Parents and Teens

Matthew Konchel, Esquire — Mon, 08 Apr 2024 14:43:40 +0000

In an era where digital innovation shapes every aspect of our lives, it’s no surprise that our teenagers are drawn to the allure of cryptocurrency. This digital form of money represents a shift away from traditional financial systems. If you are the parent of teens, understanding cryptocurrency is crucial so you can provide them with […]

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Clash of Cash: Small Business Loans vs. Lines of Credit

Matthew Konchel, Esquire — Mon, 08 Apr 2024 14:15:10 +0000

When starting or expanding a small business, one of the most critical decisions an entrepreneur faces is how to fund their venture. Oftentimes, business growth is held back by a sort of “chicken-or-the-egg” scenario in which the business owner needs to hire or invest in a resource in order to grow, but they can’t afford […]

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Improve Your Financial Fitness and Grow Your Business With Confidence

Matthew Konchel, Esquire — Mon, 01 Apr 2024 14:40:44 +0000

Embarking on the entrepreneurial journey is akin to setting out on an uncharted adventure. It’s filled with unknowns, challenges, and the occasional surprise twist. While physical fitness often gets the spotlight with its glossy gym selfies and trendy workout regimes, there’s a quieter, more calculated player in the game of success: financial fitness. We aren’t […]

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April Fools! How DIY Wills and Trusts Offer a False Sense of Security … and May Leave Your Family With an Expensive Mess

Matthew Konchel, Esquire — Mon, 01 Apr 2024 14:00:15 +0000

If you’ve been traveling around the sun for a while, you’ve no doubt heard of a Will, a document that says what happens to your money and belongings after you die. You may even have a Will, or know you should get one. And maybe you’ve heard of a Trust and wondered what it is […]

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Parents, Step-Parents and Children Oh My! Blended Families + Death = A Potential Nightmare

Matthew Konchel, Esquire — Mon, 25 Mar 2024 14:32:50 +0000

Anyone who’s seen an episode of “Modern Family” knows that families these days come in many different shapes and sizes. Long gone are the days when a “family” was defined as a mother, father and two children (or was it 2.5 children? Where does the .5 come from anyway?). In this article, we’ll focus on […]

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An AI Future is Coming: Make Sure Your Business is Ready

Matthew Konchel, Esquire — Mon, 25 Mar 2024 14:00:32 +0000

The future is knocking on our door, and it’s asking if we’ve met its friend, Artificial Intelligence (AI). For business owners, this isn’t just a polite inquiry—it’s a call to adapt or be left behind in the dust of progress. Embracing an AI future doesn’t require you to become a sci-fi protagonist like Tom Cruise […]

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Till Death or Divorce: Why You Need to Plan Now for Your Relationship’s End

Matthew Konchel, Esquire — Mon, 18 Mar 2024 14:31:01 +0000

After the excitement of Valentine’s Day fades away and the last indulgence of chocolate is savored, it’s crucial to turn our attention to a topic that may not be as thrilling as the idea of everlasting love: the reality that all relationships come to an end one day. Before you stop reading, hear me out. […]

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Avoid These 3 Mistakes When Choosing a Successor for Your Business

Matthew Konchel, Esquire — Mon, 18 Mar 2024 14:14:41 +0000

Selecting the individual to lead your business after you step down is a huge decision. It’s not merely about finding someone who mirrors your personality or whom you favor personally. Rather, the crux lies in identifying a successor who possesses the right qualifications plus the vision and capabilities to steer your company toward continued success. […]

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Purpose Over Profit: Elevate Your Business Above Your Competitors

Matthew Konchel, Esquire — Mon, 11 Mar 2024 14:33:21 +0000

In the bustling bazaar of today’s market, where every brand is vying for attention, guess what truly makes you sparkle? It’s not just the bells and whistles of your offerings but the heart and soul you pour into your brand. Yes, I’m talking about that magical connection that happens when your business becomes a reflection […]

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3 Estate Planning Documents Your Parents Need Right Now

Matthew Konchel, Esquire — Mon, 11 Mar 2024 14:14:26 +0000

Today, we’re diving into a topic that is absolutely crucial: estate planning for your parents. As they gracefully navigate their golden years, ensuring their peace of mind (and yours!) becomes a top priority. Whether they raised you the way you want, or showed you how you want to do it differently, as your parents’ age, […]

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14 Ways to Show Your Finances Some Love This Year – Part 2

Matthew Konchel, Esquire — Mon, 04 Mar 2024 15:43:48 +0000

Last week we explored 7 ways to show your finances and your family some love with smart, tax-advantaged financial tips for the new year: Make a Qualified Charitable Distribution (QCD) Front-load Your 401(k) Contributions Set Up an IRA for a Child Make Donations During Spring Cleaning Give the Gift of Appreciated Stock Shares Establish a […]

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Don’t Let Your Secrets Leave With Your Employees: How To Protect Your Trade Secrets When Team Members Depart

Matthew Konchel, Esquire — Mon, 04 Mar 2024 15:21:43 +0000

Congratulations on building a successful business! You’ve poured your time, energy, and resources into developing products or services, along with the systems and strategies that drive them forward. But what happens when a key employee or contractor announces their departure? You depend on your team members to learn your business, your systems, and the inner […]

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14 Ways to Show Your Finances Some Love This Year – Part 1

Matthew Konchel, Esquire — Mon, 26 Feb 2024 15:36:03 +0000

Ah, February – the month of love, where hearts flutter and chocolates abound (single people, stay with me here). But amidst the romantic whirlwind, there’s a different kind of love that deserves our attention: the love we show ourselves and our family through thoughtful financial planning. Now I know what you’re thinking – that doesn’t […]

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3 Business Tax Mistakes to Avoid This Tax Season

Matthew Konchel, Esquire — Mon, 26 Feb 2024 15:03:11 +0000

Ah tax season – That time of year when we’re required to get our ducks in a row whether we’re ready or not. And as a small business owner, there are extra pieces of your tax filing puzzle you need to watch out for to make sure you’re not only following the law but also […]

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Think Your Kids Will Automatically Be Cared For In the Way You Want? They Might Not Be Unless You Do This

Matthew Konchel, Esquire — Mon, 19 Feb 2024 15:53:01 +0000

As parents, we’re hardwired to prioritize our children’s well-being above all else. We work tirelessly to provide for them, nurture them, and ensure they have every opportunity to thrive. Yet, amidst the hustle and bustle of daily life, it’s easy to overlook a crucial aspect of their future: what happens to them if we’re no […]

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Why Relying on Legal Templates Instead of Lawyers Will Leave You With a Mess

Matthew Konchel, Esquire — Mon, 19 Feb 2024 15:23:21 +0000

In the whirlwind of launching your dream business, it’s easy to get caught up in the excitement and innovation that fuel your days. Amidst this buzz, it’s tempting to look for shortcuts, especially when it comes to the less thrilling aspects of entrepreneurship, like setup of your legal entity, board resolutions, legal agreements, and compliance […]

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This New Law Makes It Easier to Save for Retirement and Pay Off School Loans At The Same Time

Matthew Konchel, Esquire — Mon, 12 Feb 2024 15:56:24 +0000

Navigating your financial journey with the heavy burden of student loan debt on your back can feel overwhelming. You’re faced with a critical decision: should you prioritize paying down those loans, or should you focus on the future, contributing to your workplace retirement plan? It’s a tough call, especially when choosing loan payments means missing […]

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Love Your Business? Love Your Family? Then You Need a Succession Plan

Matthew Konchel, Esquire — Mon, 12 Feb 2024 15:39:45 +0000

You’ve put blood, sweat, and possibly a few tears into building your business from the ground up. You’ve got the vision, the drive, and the occasional coffee stain on your favorite tie. But have you thought about what happens to your business once you decide to hang up your entrepreneurial hat? And even more importantly […]

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Want to Show Your Partner How Much You Love Them? Put Them In Your Will

Matthew Konchel, Esquire — Mon, 05 Feb 2024 15:46:36 +0000

Love is undoubtedly the most profound and cherished thread that weaves us all together, and there are many different ways to express our love to the people who mean the most to us. Often when we think of showing our love, we think of bouquets of flowers, surprise gifts, and meaningful notes. But an often […]

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Have Kids? Hire Them In Your Business For Major Financial Savings

Matthew Konchel, Esquire — Mon, 05 Feb 2024 15:30:38 +0000

Paying your kids to help out in your family business, whether they’re in middle school, high school, or college, has some great perks. It can teach them about hard work, help them learn how to manage money and kickstart their savings for the future. Plus, it keeps more money in the family and out of […]

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2 Conversations About Money and Death You Need to Have With Your Parents Right Now

Matthew Konchel, Esquire — Mon, 29 Jan 2024 15:58:20 +0000

If you’ve given any thought about estate planning, you probably associate it with preparing for death. But did you know that there are critical reasons (and significant benefits) for planning while you’re still well and alive? That’s why I refer to my services as Life & Legacy Planning. When done right, planning for your assets […]

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Elevating Your Small Business: How to Attract Serious Clients Through Professional Branding and Business Structures

Matthew Konchel, Esquire — Mon, 29 Jan 2024 15:29:43 +0000

Your clients are the heartbeat of your business, and establishing a deep sense of trust with them is the cornerstone of growth and success. In a world where skepticism and misinformation prevail, nurturing authenticity and reliability in your brand is essential to building and keeping your client base. In this blog post, we will delve […]

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How Sharpening Your Emotional Intelligence Can Improve Your Business

Matthew Konchel, Esquire — Mon, 22 Jan 2024 15:59:17 +0000

The journey of entrepreneurship is like diving into uncharted waters—financially and emotionally. It’s not just about crafting a stellar business plan and securing funding; it’s about mastering the art of emotional intelligence, the ability to navigate your own emotions and those of others in a way that fosters productivity and success for yourself and your […]

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Protecting Your Family’s Safety Net: How to Set Up Your Life Insurance Policy The Right Way

Matthew Konchel, Esquire — Mon, 22 Jan 2024 15:21:19 +0000

A comprehensive Life & Legacy Plan is about creating a strategy that lets you enjoy your life to the fullest while protecting your loved ones’ future when you can no longer be there. It might seem like life insurance is an easy way to help secure your loved ones’ future – and it is – […]

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This Change to The FAFSA Rules Could Help Your Grandkids Qualify for More Student Aid

Matthew Konchel, Esquire — Mon, 15 Jan 2024 15:54:32 +0000

Want to contribute to your grandchild’s future college education? The FAFSA Simplification Act, which went into effect last month, now makes it possible for grandparents to do even more to help finance their grandchild’s education. In the past, any contributions or distributions from a grandparent’s 529 college savings plan were subject to FAFSA reporting, potentially […]

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3 Reasons Why You Need an Employee Handbook

Matthew Konchel, Esquire — Mon, 15 Jan 2024 15:29:05 +0000

If your business is on the path to hiring or already has a team in place, creating an employee handbook is a must. Not only does it ensure that your workforce is well-versed in your company policies, but it protects your business from conflicts and loss in the future. Through the handbook, you get to […]

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Planning a Partnership: 6 Things You Need to Include In Your Partnership Agreement

Matthew Konchel, Esquire — Mon, 08 Jan 2024 15:23:58 +0000

A partnership can be a rewarding and efficient business model if set up the right way, and crafting a robust partnership agreement from day one is crucial for outlining the rights, responsibilities, and operational procedures within your business venture. This agreement serves as a protective framework that ensures all partners involved are on the same […]

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Your Most Important New Year’s Resolution: Creating a Kids Protection Plan

Matthew Konchel, Esquire — Mon, 08 Jan 2024 15:07:51 +0000

As we welcome the New Year, filled with hope and resolutions for a brighter future, one commitment should be at the top of your list– creating a Kids Protection Plan™. It can be hard to think about a future where you couldn’t be there for your children, but having a plan in place will ensure that […]

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Why You Should Start The New Year With a LIFT Business Breakthrough Session

Matthew Konchel, Esquire — Mon, 01 Jan 2024 15:41:12 +0000

As we stand on the cusp of a new year, it’s the perfect time to reflect on your business journey and set the stage for success in the coming year. What components of your business worked the best? Which areas need focus or improvement? Are there areas of your business that have been neglected? (Don’t […]

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Hiring a Lawyer: What Flat Fees, Hourly Fees and Retainer Billing Could Mean For Your Life and Family

Matthew Konchel, Esquire — Mon, 01 Jan 2024 15:02:17 +0000

Trying to find the right lawyer to help with legal matters, especially if you are under the gun in a crisis situation, but even if you aren’t, can often feel like navigating uncharted waters. You want to find an attorney you like who will understand your family’s needs, but you also have to consider the […]

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Is It Time to Hire? How to Assess Your Hiring Readiness

Matthew Konchel, Esquire — Sat, 23 Dec 2023 15:33:19 +0000

Your business is bustling, the phone is ringing, and orders are flying. Congratulations on getting your company this far! But if you find yourself “living” at your business to keep up with its demands and are sacrificing your health and happiness to keep your business afloat, it’s time to hire some help. But before you […]

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What Caregivers Need to Know About Estate Planning for a Loved One With Dementia – Part 2

Matthew Konchel, Esquire — Sat, 23 Dec 2023 15:16:42 +0000

Last week, we started our discussion on estate planning for a loved one with a dementia diagnosis and what this means for their ability to protect their wishes through an estate plan. We covered: What it means to have mental capacity or be incapacitated How dementia affects capacity for estate planning purposes The essential estate […]

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Walk Your Talk: How to Attract and Keep More Clients Through Congruence

Matthew Konchel, Esquire — Mon, 18 Dec 2023 15:13:24 +0000

Business success comes from more than your products or expertise—it also comes from the mission, values, and energy that your business emanates. If this sounds a little “woo woo,” hear me out. When it comes to the professionals we hire or the stores where we shop for personal needs, we tend to prefer to give […]

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What Caregivers Need to Know About Estate Planning for a Loved One With Dementia – Part 1

Matthew Konchel, Esquire — Mon, 18 Dec 2023 15:00:23 +0000

Caring for a loved one with dementia is a challenge that millions of families undertake each year. As a caregiver, understanding how a dementia diagnosis affects your loved one’s legal decision-making is crucial to ensuring their wishes are honored and that you are providing them with the best possible care. In this blog, we’ll explore […]

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Should Your Business Be Using Non-Disclosure Agreements?

Matthew Konchel, Esquire — Mon, 11 Dec 2023 15:37:38 +0000

At the core of many successful businesses lies a treasure trove of trade secrets—unique processes, formulas, or strategies that give a company a competitive edge. Whether it’s the secret sauce behind your best-selling product or the innovative approach that sets your services apart, trade secrets are invaluable. And, short of trade secrets, even just confidential […]

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Holding Space for Grief: Ways to Comfort and Support A Loved One in Mourning

Matthew Konchel, Esquire — Mon, 11 Dec 2023 15:12:44 +0000

Losing a loved one is an incredibly challenging experience, and the journey through grief can be both complex and overwhelming. Unfortunately, we all experience grief at one time or another, and knowing how to manage your own grief and how to be there for others who are grieving is an important skill that can improve […]

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Have Unused 529 College Savings? Roll Them Into a Roth in 2024

Matthew Konchel, Esquire — Mon, 04 Dec 2023 15:22:52 +0000

In December 2022, Congress passed the SECURE 2.0 Act, bringing significant changes to the world of retirement savings and student loans. Two key parts of the Secure 2.0 Act are set to take effect in 2024, and they could substantially impact your family’s financial future. In this blog, we explain how the new law affects […]

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The 3 People Every Entrepreneur Needs On Their Team

Matthew Konchel, Esquire — Mon, 04 Dec 2023 15:07:13 +0000

Owning a business can be a thrilling adventure and an outlet for your most creative ideas. But behind the scenes of creativity and ambition, there’s a practical reality that every business owner faces. To succeed, you need more than ideas and drive—it’s about having the right team in place. In this blog, we explore three […]

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Do This By December 31st to Get a Year-Long Extension To The Corporate Transparency Act Reporting Deadline

Matthew Konchel, Esquire — Mon, 27 Nov 2023 15:40:16 +0000

Beginning January 1, 2024, the Corporate Transparency Act (CTA) will require businesses to file an annual report about their owners and major decision-makers. If you plan to create a new company, your reporting deadline under the CTA could be as soon as 30 days after the date of its creation. The good news is there’s […]

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Own a Business? Do This By December 31st to Get a Year-Long Extension To The Corporate Transparency Act Reporting Deadline

Matthew Konchel, Esquire — Mon, 27 Nov 2023 15:04:57 +0000

Business ownership is a fulfilling and exciting endeavor, but it also comes with rules, responsibilities, and reporting requirements that can be hard to track. If you own a small business or have a Trust that owns a business interest, you’ll need to comply with the Corporate Transparency Act (CTA) come January. Beginning January 1, 2024, […]

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How to Trademark Your Business Name and Protect Your Brand

Matthew Konchel, Esquire — Mon, 20 Nov 2023 15:53:55 +0000

Your company’s name is more than just a label; it’s a valuable asset that not only represents your brand but represents the legacy of your work in the world as well. It tells your clients, customers, and community who you are and what your business stands for. Protecting your business name through trademark registration can […]

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What You Must Know About Your Right to Your Spouse’s Retirement Benefits

Matthew Konchel, Esquire — Mon, 20 Nov 2023 15:25:13 +0000

If you’re part of a blended family (meaning you are married with children from a prior marriage in the mix), you’re no stranger to the extra considerations and planning it takes to keep your family’s life running smoothly – from which parent your children will be with for the holidays to figuring out the schedule […]

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Protect Your Company and Client Relationships With This ‘Second Chance’ Contract Clause

Matthew Konchel, Esquire — Tue, 14 Nov 2023 15:44:24 +0000

Contracts are the cornerstone of business relationships. From office leases to vendor agreements, contracts establish the rules, responsibilities, and expectations that guide the relationships between the parties involved. Well-drafted contracts avoid disputes and misunderstandings, but they can’t always prevent unexpected issues from happening. That’s where a “right to cure” provision comes into play. A “right […]

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How to Talk Money With Your Family Over The Holidays

Matthew Konchel, Esquire — Mon, 13 Nov 2023 15:14:48 +0000

The holidays are right around the corner, which means more time to gather with family and relatives than any other time of the year. If you’ve been meaning to talk to your family about money, inheritance, end-of-life decisions, estate planning, and creating a plan for your whole family’s wealth – now and in the future […]

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Transition to Adulthood: What Happens Legally When My Child Turns 18?

Matthew Konchel, Esquire — Mon, 06 Nov 2023 15:41:00 +0000

Soon after the challenges of puberty and the excitement of high school, an even larger milestone looms: the 18th birthday. It marks your child’s transition from childhood to adulthood, and with it new responsibilities and rights. From a legal standpoint, this milestone also brings significant changes that every parent should be aware of. In the […]

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How to Find Work-Life Balance As A Business Owner

Matthew Konchel, Esquire — Mon, 06 Nov 2023 15:15:55 +0000

It’s the end of another full day as an entrepreneur. You shut down your computer, lock up your office, and get ready to enjoy a relaxing night at home. But even though you’re off hours, your mind isn’t. Maybe you run through conversations you had during the day, brainstorm marketing ideas on a cocktail napkin, […]

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Year-End Tax Tactics: Strategies to Lower Your 2023 Business Tax Bill – Part 2

Matthew Konchel, Esquire — Mon, 30 Oct 2023 14:51:11 +0000

Last week we looked at four methods you can use to save money on your 2023 business tax return: Make large purchases for your business before December 31 Defer business income until next year Accelerate business expenses to this year, and Contribute to your employee HSA accounts This week, I share more ways end-of-year tax […]

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The Scary Truth: Naming Godparents Does Not Create Legal Guardians

Matthew Konchel, Esquire — Mon, 30 Oct 2023 14:10:04 +0000

As a parent, your top priority is the well-being and future of your children. You plan for their education, health, and happiness, and often this planning includes the tradition of choosing godparents to guide and mentor your children if something happens to you. While selecting godparents is a meaningful tradition in many cultures, it’s important […]

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Year-End Tax Planning Starts Now: 8 Things To Do Now to Lower Your 2023 Taxes – Part 2

Matthew Konchel, Esquire — Mon, 23 Oct 2023 14:26:11 +0000

Last week we looked at four different ways to lower your tax liability for 2023, from adjusting your tax withholding to strategically planning your medical procedures. In this week’s blog, we discuss four more tax-saving methods you can use right now to owe fewer taxes come April 2024. If you missed part 1 of this […]

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Year-End Tax Tactics: Strategies to Lower Your 2023 Business Tax Bill – Part 1

Matthew Konchel, Esquire — Mon, 23 Oct 2023 14:06:19 +0000

It might seem a bit early to think about your 2023 business taxes, but as the year draws to a close, it’s the perfect time to take a closer look at your company’s financial situation and make some strategic moves to minimize your business’ tax liability come next April. Year-end tax planning for your business […]

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Year-End Tax Planning Starts Now: 8 Things To Do Now to Lower Your 2023 Taxes – Part 1

Matthew Konchel, Esquire — Mon, 16 Oct 2023 14:46:35 +0000

It might seem a bit early to think about your 2023 taxes, but as the year draws to a close, it’s the perfect time to take a closer look at your financial situation and make some strategic moves that can help you minimize your tax liability come April. Year-end tax planning isn’t something you do […]

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How Diverse Hiring Elevates Your Business

Matthew Konchel, Esquire — Mon, 16 Oct 2023 14:18:09 +0000

In the past decades, diverse hiring was mainly associated with increasing and improving employment opportunities for minority groups. While diverse hiring is still a matter of social responsibility, it’s also becoming a driving force behind business success. In this blog, we’ll explore how diverse hiring can elevate your business, from fostering innovation to improving customer […]

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Flu Season Fundamentals: How to Keep Seniors Safe This Fall

Matthew Konchel, Esquire — Mon, 09 Oct 2023 14:54:38 +0000

The fall season is a beautiful time of year, but it also marks the beginning of flu season, which can pose a serious threat to your elderly loved ones. Fortunately, there are several steps you can take to ensure their well-being during the colder days ahead, including making sure you’re able to step in and […]

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Mastering Time Management: 4 Effective Strategies for Busy Entrepreneurs – Part 2

Matthew Konchel, Esquire — Mon, 09 Oct 2023 14:47:40 +0000

If you’re like many business owners, you probably feel like there isn’t enough time in the day for everything you need to do, let alone everything else you’d like to do. But it doesn’t need to be that way. Last week I explored how to use time blocking and task management tools to better manage your time […]

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Mastering Time Management: 4 Effective Strategies for Busy Entrepreneurs – Part 1

Matthew Konchel, Esquire — Mon, 02 Oct 2023 14:43:33 +0000

Time is your most valuable resource, and how you manage it can significantly impact the success of your business and your personal well-being. But finding effective ways to organize your schedule and manage your team can feel like a time-consuming task in itself. If you feel overwhelmed by your calendar or like there is no […]

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Got Minor Kids? 3 Instances When Your Estate Plan Must Include A Kids Protection Plan®

Matthew Konchel, Esquire — Mon, 02 Oct 2023 14:26:39 +0000

As a parent, you have probably thought about the importance of naming permanent legal guardians for your child in case something happens to you, and maybe you have already done it. If you haven’t yet, take this as the sign that now’s the time to do it, in case the unthinkable happens to you. Here’s […]

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From ‘I Do’ to ‘What If’: Estate Planning Must-Do’s for Newlyweds – Part 2

Matthew Konchel, Esquire — Mon, 25 Sep 2023 14:50:29 +0000

Getting married and starting a new chapter in your life is an exciting time. It’s also a time that requires a lot of housekeeping such as updating your address if your marriage includes a move, changing your tax filing status with your employer, and adding your new spouse to your bank and credit card accounts. […]

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Understanding Business Interruption Insurance

Matthew Konchel, Esquire — Mon, 25 Sep 2023 14:19:54 +0000

As a business owner, you may be familiar with the need for liability insurance to protect yourself and your business from lawsuits caused by injuries or accidents. But how do you protect your business’s income from outside forces that affect your productivity, supply, and revenue? Picture this: You’ve built your dream business from the ground […]

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From ‘I Do’ to ‘What If’: Estate Planning Must-Do’s for Newlyweds – Part 1

Matthew Konchel, Esquire — Mon, 18 Sep 2023 14:59:17 +0000

Wedding season is winding down, and if you are a newlywed or are planning to tie the knot soon, it’s time to make your first legal move as a married couple – creating an estate plan. With all the joy and happiness a new marriage brings, planning for your potential incapacity and future death may […]

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Would Your Business Pass Our 20-Point LIFT Business Assessment?

Matthew Konchel, Esquire — Mon, 18 Sep 2023 14:01:56 +0000

As a business owner, it’s crucial to regularly assess and improve various aspects of your business to ensure its long-term success and protect your assets. But most entrepreneurs struggle to find the time to review their systems and most don’t know where to even start or what to do with the information they find when […]

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Got Intellectual Property? Include It In Your Estate Plan

Matthew Konchel, Esquire — Mon, 11 Sep 2023 14:31:06 +0000

You don’t have to be a famous producer or household name to own intellectual property. If you create music, own a business, write stories, or build gadgets in your garage, you almost certainly have intellectual property. However, because intellectual property is intangible, it’s often overlooked in estate planning. And if you do have intellectual property, […]

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You Have IP! Be Sure Not to Lose It … Here’s How

Matthew Konchel, Esquire — Mon, 11 Sep 2023 14:04:24 +0000

You don’t have to own a large company to own intellectual property. If your business creates inventions, written and artistic works, designs, logos, brand names, and images, you almost certainly have intellectual property. However, because intellectual property is intangible, it’s often overlooked in your business’s succession plan and your own personal estate plan. Even if […]

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Paying It Forward: How to Build Your Legacy Through Mentorship

Matthew Konchel, Esquire — Mon, 04 Sep 2023 14:49:02 +0000

As a business owner, it can be easy to see an opportunity to mentor a young professional as a purely charitable experience. But mentorship can play a pivotal role in shaping your legacy when you approach it with the right mindset. Not only does mentoring give you the opportunity to invest in the life of […]

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Help Your Parents Avoid These New Financial Scams – Part 2

Matthew Konchel, Esquire — Mon, 04 Sep 2023 14:13:54 +0000

In part one of this series, we explored two popular scams that are targeting older adults this year: the grandparent scam, and cryptocurrency pickpocketing. In this week’s blog, I’m sharing two more scams that you and your parents need to be aware of, plus tips for staying protected. Let’s dive in. 3. PERSONALIZED PHISHING EMAILS […]

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Embracing Abundance: Liberating Your Business from Money Dysmorphia and Fear

Matthew Konchel, Esquire — Mon, 28 Aug 2023 14:59:34 +0000

In the exhilarating journey of running a business, there’s an often unspoken challenge that many entrepreneurs face – the distortion of one’s perception of money. This phenomenon, referred to by Personal Family Lawyer® CEO and Founder, Ali Katz, as “Money Dysmorphia,” stems from deep-seated, often inherited fears and beliefs surrounding money. When Money Dysmorphia exists […]

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AARP and The Red Cross Celebrate Make-A-Will Month, But Here’s What They Didn’t Tell You

Matthew Konchel, Esquire — Mon, 28 Aug 2023 14:19:49 +0000

August is National Make-A-Will Month and you may have received an advertisement in your inbox or mailbox from AARP or the American Red Cross reminding you to get your Will taken care of this month. Both AARP and the Red Cross promoted their partnerships with FreeWill.com, a website that claims to help you create a […]

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Help Your Parents Avoid These New Financial Scams – Part 1

Matthew Konchel, Esquire — Mon, 21 Aug 2023 14:35:06 +0000

Fraudsters and scam artists are nothing new, but changing tools and technology are making it easier than ever for scammers to target their victims, especially seniors. To protect your aging parents (or yourself) from these con artists, it’s crucial to equip yourself with the knowledge of how these scams work and what your loved ones […]

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4 Red Flags That Signal It’s Time to Part With a Bad Client

Matthew Konchel, Esquire — Mon, 21 Aug 2023 14:13:17 +0000

Dealing with clients who bring more complications than benefits can be a burden on your business, causing undue stress and even a loss of revenue. However, breaking ties with such problematic clients can be a tough decision, especially if your business is still finding its footing or you’re strapped for funds. Nonetheless, there are instances […]

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Can You Rely on Legal Insurance for Your Estate Plan?

Matthew Konchel, Esquire — Mon, 14 Aug 2023 14:57:01 +0000

As the need for affordable legal services becomes even more important in today’s world, it’s common to opt for group legal insurance offered through your workplace benefits. These group insurance plans provide free legal assistance for a variety of needs from law firms that have contracted with the insurance company to provide the legal work. […]

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Can You Use Your Employer’s Group Legal Insurance for Your Startup’s Legal Needs?

Matthew Konchel, Esquire — Mon, 14 Aug 2023 14:45:38 +0000

If you’re looking to turn your side hustle into your full-time career, you might be wondering if you can use your current employer’s group legal insurance for your startup’s legal needs. It’s common to opt for group legal insurance offered through your workplace benefits. These group insurance plans provide free legal assistance for a variety […]

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Is Your Business Making Any of These Simple Employment Mistakes?

Matthew Konchel, Esquire — Mon, 07 Aug 2023 14:57:55 +0000

As a small business owner, it’s essential to consider potential legal pitfalls that come with managing a workforce. While payroll and workplace policies may seem like less consequential aspects of your business, team member complaints, and workplace violations are one of the top areas where small business owners find themselves in hot water. Taking a […]

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Don’t Send Your Kids Back to School Without These Documents

Matthew Konchel, Esquire — Mon, 07 Aug 2023 14:16:28 +0000

As summer comes to a close, and back-to-school excitement fills the air, there is one crucial task that is often overlooked: designating legal guardians for your minor children. Legal guardians are the individuals you entrust with the care of your children if, for any reason, you are unable to do so yourself. In the hustle […]

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10 Life Events That Signal It’s Time to Review Your Estate Plan – Part 2

Matthew Konchel, Esquire — Mon, 31 Jul 2023 14:58:03 +0000

You might think that estate planning is something you can complete one time and then check off your to-do list for good. But the reality is that in order for your estate plan to work for you no matter how your life changes, your plan needs to change with it. To make sure any big […]

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Building Client Connection and Trust Through Your Legal Agreements

Matthew Konchel, Esquire — Mon, 31 Jul 2023 14:37:34 +0000

Cash flow is king when it comes to business, and maintaining strong cash flow requires consistent sales. That may sound obvious, but what’s likely unclear to you is how your legal agreements can greatly impact your sales. You may be losing sales because of how you handle your contracts without even realizing it. In this week’s blog, […]

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10 Life Events That Signal It’s Time to Review Your Estate Plan – Part 1

Matthew Konchel, Esquire — Mon, 24 Jul 2023 14:48:15 +0000

Maybe you thought that creating a Will or Trust is something you can do once and then your family and assets are protected forever after. It seems to be how most lawyers structure their services, so it wouldn’t be surprising if you did think this. You work with your lawyer, they draft documents, you bring […]

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Should I Operate as a Sole Proprietor or a Corporation?

Matthew Konchel, Esquire — Mon, 24 Jul 2023 14:35:05 +0000

As a small business owner, there were a lot of decisions you considered when you started your business, from what services to offer and where your business would be located, to what color your logo should be and what font you’ll use. You also had to choose what kind of entity your business would be, […]

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What the Debt Ceiling Extension Means for Small Business Owners

Matthew Konchel, Esquire — Mon, 17 Jul 2023 14:10:23 +0000

You may have heard the term “national debt ceiling” in years past, and if you’ve turned on the news at all in the past few months, you’ve definitely heard it. Although the national debt ceiling extension may feel like something far removed from the day-to-day operations of your business, it can significantly impact your daily […]

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What the National Debt Ceiling Extension Means for Your Family

Matthew Konchel, Esquire — Mon, 17 Jul 2023 14:04:20 +0000

You’ve probably heard about the national debt ceiling and its recent extension, but you might wonder what it has to do with your everyday life as a family. While it may seem like a distant matter, the national debt ceiling extension can have a significant impact on your family’s financial well-being and future planning. So […]

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Master the Art of Hiring: Interview Techniques to Find Team Members That Last – Part 2

Matthew Konchel, Esquire — Mon, 10 Jul 2023 14:51:57 +0000

Finding the right people to support your business is a difficult task. Applicants who seem like a perfect fit on paper may perform poorly once they’re in the role, and even more frustrating are team members who excel in the position but suddenly decide to leave your company after just a short time. If this […]

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Awakened Planning: How to Talk About Estate Planning at Your Family Reunion

Matthew Konchel, Esquire — Mon, 10 Jul 2023 14:13:22 +0000

July is National Family Reunion Month and the perfect time to reconnect with family from near and far, share life’s updates, and reminisce about the wonderful memories you share together. If you’re getting together with family this month, it’s also a perfect time to talk to your loved ones about your shared goals, family resources […]

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Estate Planning Pitfalls – 3 Mistakes That Could Make Your Estate Plan Worthless

Matthew Konchel, Esquire — Mon, 03 Jul 2023 14:54:07 +0000

Including a Trust as part of your estate plan is a smart decision. It allows you to avoid probate, maintain privacy, and distribute your assets to your loved ones while also providing them with a lifetime of asset protection, if you choose it for them. But, here’s the thing you might not know, and is critically important […]

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Master the Art of Hiring: Interview Techniques to Find Team Members That Last – Part 1

Matthew Konchel, Esquire — Mon, 03 Jul 2023 14:12:47 +0000

If you’re looking to expand your business or free up your time (or both), the best thing you can do is hire support. When hiring, you need team members you can count on to run your business when you aren’t there – an essential component of being a successful entrepreneur and avoiding burnout. But going […]

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Vacation Ready: Essential Legal Preparations for a Worry-Free Getaway

Matthew Konchel, Esquire — Mon, 26 Jun 2023 14:58:17 +0000

Vacations are a time to relax, unwind, and create beautiful memories with your loved ones. But before you set off on your adventure, it’s essential to ensure that your legal affairs are in order so you can fully relax during your travels. Can’t imagine doing one more thing before you take some much-needed time away? […]

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Passing the Torch: How to Inspire Your Kids to Take Over the Family Business

Matthew Konchel, Esquire — Mon, 26 Jun 2023 14:16:36 +0000

The dream of passing on your business to your children and witnessing the legacy you’ve built continue to flourish is a powerful one. However, inspiring your children to embrace the idea of taking over the family business can present its challenges, and your children may even exhibit resistance to the notion altogether. Fret not. While […]

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Small Businesses Will Need to Report Under New Corporate Transparency Act

Matthew Konchel, Esquire — Mon, 19 Jun 2023 14:47:42 +0000

If you’re a small business owner, you’ve probably been enjoying the privacy and simplicity that owning a small company affords you. (I mean, who will really notice if you take a half-day on Friday or forget to have an annual shareholders’ meeting?) Aside from the flexible vacation you get as the owner, holding your business […]

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Have a Trust? How the Corporate Transparency Act Affects You

Matthew Konchel, Esquire — Mon, 19 Jun 2023 14:15:35 +0000

Get ready for an interesting twist in the world of legal and business news. You may already be familiar with the upcoming Corporate Transparency Act, set to kick in next year. If you aren’t, it’s time to get in the know because it could impact you, and if you it does, you’ll need support. Starting […]

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The Importance of Customized Estate Planning for LGBTQ+ Relationships – Part 2

Matthew Konchel, Esquire — Mon, 12 Jun 2023 14:39:11 +0000

Last week we started the discussion of why it’s so important for LGBTQ+ families to invest in custom estate planning. While major strides for LGBTQ+ rights have been made in recent years, estate planning law is still written with hetero, cisgender couples in mind, which means that your wishes and your rights may not be […]

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5 Types of Insurance No Business Owner Should Go Without – Part 2

Matthew Konchel, Esquire — Mon, 12 Jun 2023 14:31:29 +0000

Last week, we looked at three types of insurance coverage that every business owner should have. While buying insurance coverage may seem low on your to-do list, making sure you and your business are protected from lawsuits is one of the most important things you can do for your business. After all, your business can’t […]

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The Importance of Customized Estate Planning for LGBTQ+ Relationships – Part 1

Matthew Konchel, Esquire — Mon, 05 Jun 2023 14:16:41 +0000

June is a time of celebration and reflection for the LGBTQ+ community as Pride Month shines a spotlight on the progress made in the fight for equal rights. While significant strides have been made, such as the legalization of same-gender marriage and increased recognition of LGBTQ+ families, there is still a large gap in estate […]

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5 Types of Insurance No Business Owner Should Go Without – Part 1

Matthew Konchel, Esquire — Mon, 05 Jun 2023 14:01:37 +0000

As a business owner, you pour your heart and soul into building your dream, making strategic decisions, and managing day-to-day operations. With an eye on your business’s future growth, it’s crucial not to overlook the importance of protecting your business from unexpected setbacks. Even if you think your business is too small to worry about […]

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Capturing the Stories of Aging Loved Ones: The Power of a Family Wealth Legacy Interview

Matthew Konchel, Esquire — Mon, 29 May 2023 14:54:53 +0000

May is Senior Citizen’s Month, a time to reflect and appreciate all the things the seniors in our lives have done for us. Whether they are our parents, grandparents, or elderly friends, our seniors have given us so much over the years. But sometimes seeing your loved ones aging or seeing how you’ve aged yourself […]

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3 Ways to Manage Workplace Conflict

Matthew Konchel, Esquire — Mon, 29 May 2023 14:53:41 +0000

Handling workplace conflict can be one of the most difficult aspects of running a business. While achieving business goals may require talent and time, managing people and their personalities is a completely different ball game. No matter how good the management is, disputes are bound to arise in the workplace due to differences in values, […]

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How to Love Your Business Again

Matthew Konchel, Esquire — Mon, 22 May 2023 14:44:30 +0000

One of the best-loved books for entrepreneurs is The E-Myth by Michael E. Gerber. In the book, he tells the story of a woman who always dreamed of owning a pie shop. She wanted nothing more than to spend her days doing what she loved and seeing her customers enjoy her pies. But once she opened her […]

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Want to Grow Wealth? Warren Buffet’s Unexpected Investment Advice

Matthew Konchel, Esquire — Mon, 22 May 2023 14:08:26 +0000

If you are going to take investment and estate planning advice from anyone, Warren Buffett is likely one you want to consider. As one of the most successful investors in history, his track record speaks for itself. However, his wisdom goes beyond picking stocks and making money. At this year’s Berkshire Hathaway annual shareholder meeting, […]

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Why “Just a Will” Is Never Enough

Matthew Konchel, Esquire — Mon, 15 May 2023 14:57:20 +0000

When you think of estate planning, a Will is usually the first thing that comes to mind. In fact, most people who contact me tell me they don’t need anything complicated for their estate- just a Will. Indeed, Wills have a reputation as the number one estate planning tool and can be seen all over […]

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How to Leverage Debt to Grow Your Business

Matthew Konchel, Esquire — Mon, 15 May 2023 14:08:03 +0000

Your business is your passion, your livelihood, and your legacy. You want to see it succeed and thrive, but sometimes that can be a difficult task. It requires a lot of resources to make your business grow – time, effort, and of course, money. And as a business owner, you know all too well how […]

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Create a Stronger Blended Family Through Estate Planning

Matthew Konchel, Esquire — Mon, 08 May 2023 14:52:56 +0000

Blended families were once considered “non-traditional” families, but today, blended families are becoming just as common as non-blended families. Currently, 52% of married couples (or unmarried couples who live together) have a step-kin relationship of some kind, and 4 in 10 new marriages involve remarriage. If you’re part of a blended family, you’ve probably recognized […]

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Embrace the Future: 5 Ways to Use AI for Your Small Business – Part 2

Matthew Konchel, Esquire — Mon, 08 May 2023 14:23:56 +0000

Last week, we explored two real-world ways you can use an AI language model to improve your small business from building efficiency to marketing your brand. This week I’m continuing the discussion to bring you three more ways to use AI to support your business. Plus, I’ll explain when to bring in professional (human) business […]

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4 Ways to Use AI to Make Life Easier for You and Your Family

Matthew Konchel, Esquire — Mon, 01 May 2023 14:49:10 +0000

Whether you’re turning on the news or scrolling through Instagram, it’s hard not to hear about AI technology, so this week I wanted to take some time to cover what the buzz is about and how you can use this technology to make your own life easier. AI (artificial intelligence) language models like ChatGPT and […]

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Embrace the Future: 5 Ways to Use AI for Your Small Business – Part 1

Matthew Konchel, Esquire — Mon, 01 May 2023 14:14:36 +0000

As a small business owner, you wear a lot of hats and probably work a lot of hours to get it all done… and you still have a lot left on your plate. Until you’re ready to hire on more help (let’s talk about that soon!), you can leverage simple-to-use, free online AI tools to […]

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Leaving Your Pet in Your Will Won’t Protect Them – Do This Instead

Matthew Konchel, Esquire — Mon, 24 Apr 2023 14:46:15 +0000

If you’re a pet owner, you know the special bond that exists between you and your pets, and to many pet owners, our furry friends aren’t just a pet – they’re a loved and important part of our families. So if you’re thinking about how best to provide for your family after you die or […]

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The Small Business Partner You Didn’t Know You Wanted: Comprehensive Legal Support that Won’t Break the Bank

Matthew Konchel, Esquire — Mon, 24 Apr 2023 14:24:22 +0000

As a small business owner, you may feel as if you’re facing the world alone at times. Unlike a large company would, I’m willing to bet you don’t have a team of lawyers or an in-house general counsel to support you as you navigate the complexities of running a business. But just because you don’t […]

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Leading Your Business with Heart

Matthew Konchel, Esquire — Mon, 17 Apr 2023 14:53:18 +0000

You’ve likely read dozens of articles on how to manage your business, what payroll service to use, and how to take advantage of tax deductions. While these are all important components of keeping your business running efficiently and profitably, I want to take this week’s blog to focus on something equally, if not more, important […]

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Stephen “tWitch” Boss Dies Without a Will

Matthew Konchel, Esquire — Mon, 17 Apr 2023 14:33:02 +0000

Stephen Laurel Boss, also known as “tWitch,” was an American DJ, hip-hop dancer, choreographer, television producer, and actor whose personality lit up the stage on So You Think You Can Dance and as a producer and frequent guest host on The Ellen Degeneres Show. Boss also co-hosted the TV show Disney’s Fairy Tale Weddings alongside his wife and fellow dancer, […]

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Shielding Your Personal Assets: How to Create an LLC

Matthew Konchel, Esquire — Mon, 10 Apr 2023 14:26:54 +0000

If you’re a business owner and have been operating your business as a Sole Proprietor, you’re leaving the personal assets of your family at risk. From a creative side hustle to a tech startup, owning a business always comes with some level of financial investment and risk, whether you’re purchasing supplies, leasing office space, or […]

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3 Simple Mistakes That Can Derail Your Estate Plan

Matthew Konchel, Esquire — Mon, 10 Apr 2023 14:03:23 +0000

If you’re tempted to use a DIY estate planning service or have already created a plan you aren’t 100% confident in, be sure to read how these three simple mistakes can derail your estate plan and leave your family with an expensive mess. We regularly meet with clients who ask us to review an estate […]

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4 Reasons Why Estate Planning Is Critical For Business Owners

Matthew Konchel, Esquire — Mon, 03 Apr 2023 14:57:26 +0000

If you are running a business, it’s easy to prioritize estate planning less than your other business matters. After all, if you’re facing challenges meeting next month’s payroll or your goals for growth over the coming quarter, concerns over your potential incapacity or death can seem far less urgent. But the reality is considering what […]

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Estate Planning Before You Travel: Why It’s Critically Important

Matthew Konchel, Esquire — Mon, 27 Mar 2023 14:38:26 +0000

Vacations can be the perfect opportunity to relax, disconnect from work and responsibilities, and enjoy your spouse, partner, kids’ or friend’s company. But before you head off on your next getaway, there’s something else you should consider doing that might not sound quite as fun—creating an estate plan. While it may not sound like the most […]

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Why Every Business Owner Should Consider A Trust

Matthew Konchel, Esquire — Mon, 27 Mar 2023 14:10:38 +0000

Trusts are often underused or misused tools for business owners, as they can provide a range of tax, asset protection, and succession planning benefits, when established and maintained in the right way. As a Personal Family Lawyer® who also focuses on serving business owners, I can help you choose the right Trust strategy for protecting […]

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10 Small Business Bookkeeping Mistakes

Matthew Konchel, Esquire — Mon, 20 Mar 2023 14:13:44 +0000

Keeping your finances in order is crucial for the success of your business. Even if you’re running a small operation, bookkeeping is a critical component that cannot be overlooked. While it may not be the most exciting task, it’s important to ensure accuracy to avoid costly mistakes that could hurt your business in the long […]

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Why Everyone Needs to Keep Their Estate Plan Updated

Matthew Konchel, Esquire — Mon, 20 Mar 2023 14:07:43 +0000

As the world and its laws continue to evolve, everyone needs to keep their estate plans up to date. An estate plan is a set of documents, such as a will or trust, that dictate how assets will be distributed upon death or incapacity. An individual’s current legal and financial situation should be considered to […]

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Protecting Your Privacy: Understanding Nominee Services for Business Owners

Matthew Konchel, Esquire — Mon, 13 Mar 2023 14:30:00 +0000

As a business owner, you may want to keep your personal information private and out of the public record. Luckily, if you want to run your own business but prefer to stay out of the spotlight, there’s a solution to this problem that many business owners use – nominee services. Nominee services allow you to […]

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Obtaining A Power Of Attorney For Elderly Parents

Matthew Konchel, Esquire — Mon, 13 Mar 2023 14:23:48 +0000

Making important decisions for aging parents can be a challenging task, but power of attorney (POA) can provide peace of mind and clarity in times of need. POA enables individuals to make crucial decisions on behalf of their parents, such as managing their finances or making medical decisions, when they are unable to do so […]

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Your Rights As The Parent Of A Young Adult — What You Need To Know When A Medical Crisis Hits

Matthew Konchel, Esquire — Mon, 06 Mar 2023 15:41:49 +0000

As a parent, you are quite accustomed to managing your children’s legal and medical affairs, as circumstances require. If your child requires urgent medical attention while away from you, a simple phone call authorizing care can do the trick. But what happens when those “children” turn 18, now adults in the eyes of the law, […]

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Understanding The Difference Between A Cash Flow Statement And A Profit And Loss Statement

Matthew Konchel, Esquire — Mon, 06 Mar 2023 15:11:54 +0000

To run a business successfully, it is necessary to create various financial documents, including cash flow and profit and loss (P&L) statements. Doing this enables business owners to understand their business’s current financial health and make appropriate changes to improve company performance. Many business owners hire accountants to create these documents. Still, it can be […]

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Keep the Government and Lawsuit Happy Opportunists Away From Your Children’s Inheritance

Matthew Konchel, Esquire — Mon, 27 Feb 2023 15:39:47 +0000

If you have a current estate plan, I’ll bet you plan to leave your assets to your children outright and unprotected by age 35, or maybe a little later. Go take a look at your estate plan, and see what it does right now. And, if you don’t have an estate plan, and you have […]

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What Needs To Be Included In A Client Contract

Matthew Konchel, Esquire — Mon, 27 Feb 2023 15:26:48 +0000

Client contracts, or agreements, refer to legal agreements between businesses and consumers. They help establish expectations for the individuals who use a business’s products or services. Additionally, they outline what customers can do if they have an issue with the product or service, including how they can complain. Businesses typically use client contracts to ensure […]

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5 Reasons Why Shopping For The Cheapest Estate Plan Could Leave Your Family With An Unintended Mess

Matthew Konchel, Esquire — Mon, 20 Feb 2023 15:11:26 +0000

In most cases, from the most sophisticated business people with the highest net worth to those just starting in the workforce and on their path to adulthood, you very likely do not know how to evaluate estimates when shopping for an estate plan. Shopping for an estate plan based on getting the lowest cost plan […]

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What Every Business Owner Needs Now… Live Every Day As If It Could Be Your Last

Matthew Konchel, Esquire — Mon, 20 Feb 2023 15:11:18 +0000

If you dream of one day retiring from your business, selling it, or leaving your company to your family, there are essential planning steps to take care of today, no matter how far away you think that time may be. Even if you are just starting, beginning with the end in mind will set your […]

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4 Fundamental Asset Protection Vehicles For Business Owners In 2023

Matthew Konchel, Esquire — Mon, 13 Feb 2023 15:55:41 +0000

Regardless of the industry you are in, the reality of being a business owner is that you open yourself up to a number of unique risks that most people don’t have to worry about—and the more successful your business is, the more risks you face. Unfortunately, most business owners aren’t fully aware of all the […]

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Will Your Estate Plan Work When Your Family Needs It?

Matthew Konchel, Esquire — Mon, 13 Feb 2023 15:33:19 +0000

Like most people, you likely think estate planning is just one more task to check off your life’s endless “to-do” list. You can shop around and find a lawyer to create planning documents for you or create your own DIY plan using online documents. Then, you’ll put those documents into a drawer, mentally check estate […]

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5 Ways Your Personal Assets Could Be at Risk From Your Business Activities

Matthew Konchel, Esquire — Mon, 06 Feb 2023 15:46:34 +0000

One of the main reasons to up your business as a corporation or limited liability company (LLC) is to shield your personal assets from debts and other liabilities incurred by your business. Corporations and LLCs exist as separate legal entities from their owners, allowing the business to acquire assets, enter into contracts, and take on […]

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Before You Agree to Be a Trustee, Read This!

Matthew Konchel, Esquire — Mon, 06 Feb 2023 15:43:58 +0000

Being asked by a loved one to serve as Trustee for their Trust upon their death can be quite an honor, but it’s also a significant responsibility—and the role is not for everyone. Indeed, serving as a Trustee entails a broad array of duties, and you are both ethically and legally required to execute those […]

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The Benefits Of Employing Your Kids

Matthew Konchel, Esquire — Mon, 30 Jan 2023 15:26:59 +0000

Paying your children—whether they’re tweens, teens, or young adults—to work for your company is one of the greatest advantages of running a family business. By hiring your kids, you can help them develop a strong work ethic, give them experience managing money, and jumpstart their ability to save for their future, all while keeping more […]

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4 Common Mistakes Made On Life Insurance Beneficiary Designations

Matthew Konchel, Esquire — Mon, 30 Jan 2023 15:15:18 +0000

Investing in life insurance is a foundational part of estate planning, and when done right it’s a primary way to say “I love you” to your loved ones after you are gone. However, when naming your policy’s beneficiaries, several mistakes can lead to potentially dire consequences for the people you’re investing to protect and support. The […]

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Revocable Living Trust Or Irrevocable Trust: Which One Is Right For You?

Matthew Konchel, Esquire — Mon, 23 Jan 2023 15:46:38 +0000

You’ve probably heard you need a trust to keep your family out of court and maybe out of conflict in the event of your death or incapacity. And, if you haven’t, you are hearing it now. If you own any “probatable” assets in your name at the time of your incapacity or death, your family […]

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5 Tips For Creating A Business Plan That Works

Matthew Konchel, Esquire — Mon, 23 Jan 2023 15:16:09 +0000

Far too many aspiring entrepreneurs jump-start their businesses without taking the time to plan properly. Just as a builder uses a blueprint to ensure a new construction project will be structurally sound, a carefully researched and well-thought-out business plan allows you to determine whether or not your business concept will succeed and make money. A […]

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It’s All Fun And Games Until Someone Wants Out: Why Your LLC Agreement Must Be Customized To Consider The End, Before You Even Start

Matthew Konchel, Esquire — Mon, 16 Jan 2023 15:15:46 +0000

Starting a business is exciting, but it can quickly become a stressful situation if the owners can’t agree. This is especially true when it comes to closely held businesses, such as LLCs, with two equal owners. In these situations, it’s ideal for key agreements, such as LLC operating agreements, bylaws, or buy-sell agreements to have […]

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Why Every Adult Needs A Living Will

Matthew Konchel, Esquire — Mon, 16 Jan 2023 15:14:09 +0000

When it comes to estate planning and wills, you have a variety of options for legal documents. The most common of these options is a “last will and testament,” which is also known simply as a “will.” But you may have also heard people talk about a “living will” and wonder what that is, and […]

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What Happens To Your Debt When You Die?

Matthew Konchel, Esquire — Mon, 09 Jan 2023 15:35:01 +0000

Maybe you’ve wondered about your own debt or perhaps your parent’s debt—what happens to that debt when you (or they) die? Well, it depends, and that’s part of the reason you want to ensure your estate plan is well prepared. How you handle your debt can greatly impact the people you love. In some cases, […]

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Who Should Own Your Business Entity?

Matthew Konchel, Esquire — Mon, 09 Jan 2023 15:23:17 +0000

If you’ve decided to incorporate your business or review the type of entity you already have in place, it’s essential to not only choose the right entity, but also decide who (or what) should own that entity. Unfortunately, most basic business lawyers overlook this question, and I want to ensure you don’t miss it just […]

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How A Nominee Can Protect Your Privacy

Matthew Konchel, Esquire — Mon, 02 Jan 2023 15:22:31 +0000

As a business owner, you may want to keep your identity private and out of the public record. To do this, we recommend using the services of a nominee to place the nominee’s personal information on your business records instead of using your personal information. These records typically include articles of incorporation and annual financial […]

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3 Essential Questions to Ask Before Creating Your Will Online

Matthew Konchel, Esquire — Mon, 02 Jan 2023 15:01:40 +0000

If you are looking to create your last will and testament, or will, online, you’ll find dozens of websites that let you prepare a variety of estate planning documents for very little money, and even for free. With so many do-it-yourself online document services out there, you might believe you can create your will online, […]

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Five Tips for Monetizing Your Company’s Online Presence

Matthew Konchel, Esquire — Mon, 26 Dec 2022 15:33:47 +0000

In today’s digital-everything world, nearly every business—no matter how small—has some online presence. From websites and social media to e-newsletters and mobile apps, it’s virtually impossible to survive in today’s marketplace without having a digital footprint. However, building your company’s online operations and making money from them can be challenging unless you have a background […]

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Checklist: 5 Financial Decisions to Consider Before December 31

Matthew Konchel, Esquire — Mon, 26 Dec 2022 15:33:47 +0000

This week, before the year ends, consider these 5 financial, retirement and tax actions you may need to take before it’s either too late or very costly for your family. And, if you have living parents in their 70s, make sure you cover these considerations with them this week.. 1. Review Your Investments to Harvest […]

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4 Actions To Take If Your Business Is Facing A Lawsuit

Matthew Konchel, Esquire — Mon, 19 Dec 2022 15:23:52 +0000

If your business gets hit with a lawsuit, it can be a traumatic and costly experience. Unfortunately, in today’s highly litigious society, lawsuits are far-too common, with up to 53% of all small businesses in the U.S. sued each year, according to the Small Business Administration. One of the worst parts of being sued is […]

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Green Funerals: 6 Eco-Friendly Options For Your Remains

Matthew Konchel, Esquire — Mon, 19 Dec 2022 15:23:52 +0000

The environmental costs of death are significant and constantly rising. With 8 billion people on the planet right now—all of whom have bodies that die and must be disposed of—we need to start seriously considering alternatives to traditional options for burial and cremation. Fortunately, more and more “green” options are being developed to reduce these […]

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3 Vital But Often-Overlooked Metrics All Businesses Should Track

Matthew Konchel, Esquire — Mon, 12 Dec 2022 15:00:13 +0000

You are most likely monitoring several key performance indicators to determine how well your company is doing. Whether related to your finances, advertising, employee turnover, or website traffic, these metrics can be an effective way to measure, maintain, and improve your business’ success and growth. That said, there are a number of metrics vital to […]

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Will The Coming Wealth Transfer Be A Blessing Or A Curse For Your Family?

Matthew Konchel, Esquire — Mon, 12 Dec 2022 15:00:12 +0000

Whether it’s called “The Great Wealth Transfer,” “The Silver Tsunami,” or some other catchy sounding name, it’s a fact that a tremendous amount of wealth will pass from Baby Boomers to younger generations in the next few decades. In fact, it’s said to be the largest transfer of intergenerational wealth in history. Because no one […]

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4 Essential Legal Agreements No Business Should Be Without

Matthew Konchel, Esquire — Mon, 05 Dec 2022 15:36:34 +0000

When starting a new business, putting the right legal agreements in place is crucial for protecting your assets and relationships. Yet far too many new business owners put off—or even entirely overlook—creating these vital documents. You might not even know which agreements you need. The following 4 agreements are among the most essential legal documents […]

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4 Year-End Tax-Saving Strategies For 2022

Matthew Konchel, Esquire — Mon, 05 Dec 2022 15:36:34 +0000

Although the end of the year can be a hectic time, it’s also the deadline for your family to implement a number of key tax-savings strategies. By taking action now, you can significantly reduce your tax bill due in April, but with just a few weeks left in 2022, you better act fast. While there […]

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4 Strategies To Turn Your Side Hustle Into A Booming Business

Matthew Konchel, Esquire — Mon, 28 Nov 2022 15:41:47 +0000

Whether you are starting your very first company or you are an established business owner looking to develop a new income stream, creating a side hustle can be the ideal way to get a new business venture started. By developing your business as a part-time side gig, you can greatly reduce the personal and financial […]

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How Will A Recession Affect Your Family?

Matthew Konchel, Esquire — Mon, 28 Nov 2022 15:41:46 +0000

As you’ve surely heard by now, we’re in the midst of great economic shifts. The collapse of the crypto market, the roller coaster that is the stock market, rising interest rates, dropping home values, and inflation through the roof—it’s enough to make you sick. And it can make you sick unless you take the actions […]

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How your choice of business entity affects your tax obligations—Part 2

Matthew Konchel, Esquire — Mon, 21 Nov 2022 15:35:16 +0000

Along with personal liability protection, record-keeping requirements, and how you plan to finance your operation, one of the main factors to consider when choosing an entity structure for your business is deciding how you want your company to pay taxes. Your choice of entity will not only determine the rate at which your business is […]

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7 Issues to Consider When Purchasing Disability Insurance

Matthew Konchel, Esquire — Mon, 21 Nov 2022 15:35:16 +0000

If you earn a good living now, but you worry about not having enough money for a future time when you cannot work due to illness or injury, disability insurance is your answer. However, you need to make sure you are getting an insurance policy that will meet your needs and not waste your money. […]

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How To Manage Your Digital Accounts After Your Death—Part 3

Matthew Konchel, Esquire — Mon, 14 Nov 2022 15:05:59 +0000

If you have preferences about what happens to your digital footprint after your death, you need to take action. Otherwise, your online legacy will be determined for you—and not by you. If you have any online accounts, such as Gmail, Facebook, Instagram, LinkedIn, Apple, or Amazon, you have a digital legacy, and that legacy is […]

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How to Manage Your Digital Accounts After Your Death—Part 2

Matthew Konchel, Esquire — Mon, 07 Nov 2022 15:04:07 +0000

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