By: Andrew C. Ruben
It’s the time of year when many of us turn our attention to spring cleaning… the basement, the house, or the yard.
Love it or hate it, we all know it’s a good thing to do once a year. But how many of you reach out to your attorney for some ”spring cleaning” of a different kind? It may not be your first instinct, but maybe it should be.
This is a perfect time of year to touch base with your outside general counsel, or find a good corporate attorney that can sit down with you and do some ”spring cleaning” to address any issues that have come up with your personal life or company. Ideally, this is an exercise that involves both looking backward at issues that arose during the prior year, and looking forward to address goals and concerns for the coming year.
We see many clients that have problems with their standard contract forms, human resource practices (such as outdated or missing employee handbooks), insurance coverage, disputes with customers, or claims against them or their business. Often, these issues are ignored in the press of life or business. And even when a specific legal problem is resolved successfully, many clients fail to take the time to consider if and how these core business and legal issues can be addressed on a systematic basis to reduce the chance they will occur again.
It is equally important to look forward and identify personal or business strategic planning goals that require support from your legal counsel, or simply ask that all-important question, ”What is out there that I don’t know about or haven’t thought of?”
We are all aware that there have been significant changes in the tax laws impacting both individuals and companies, but rather than reacting or simply talking to your accountant about the direct financial impacts, it is critical to think systemically about how these changes affect you or your business and what you can do from a legal standpoint to reduce the harm or maximize the benefit of these changes. This may include a review of your current estate plan or corporate structure, a review of debt and equity positions, or other more discrete items such as employment practices, third party contracts, risk management, and other related issues.
Whatever your area of business, sitting down with your attorney and discussing your plans for growth, and how those goals can be supported by appropriate legal strategies, is almost always a value-added exercise.
The corporate and business attorneys at Paule, Camazine & Blumenthal can assist you with your corporate and personal “spring cleaning” regardless of the season.