Frequently asked questions for starting a business in Indiana
Dale & Eke Blog
by bkabritsor
2w ago
Starting a business can be an exciting yet challenging venture. Indiana offers a favorable environment for new businesses. With the right knowledge and preparation, you can realize your entrepreneurial dreams. What are the steps to start a business? To start a business, you need to follow these steps: Choose a business structure (e.g., sole proprietorship, partnership, corporation, LLC) Register your business name with the Indiana Secretary of State Get an Employer Identification Number (EIN) from the IRS Register for state taxes with the Indiana Department of Revenue Apply for necessary licen ..read more
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The benefits and risks of real estate investment trusts (REITs)
Dale & Eke Blog
by bkabritsor
3w ago
Real Estate Investment Trusts (REITs) offer a unique way to invest in real estate without the need to directly buy properties. They allow investors to buy shares in a portfolio of real estate assets, generating income through rent or property sales. Benefits of REITs One of the main benefits of REITs is the potential for high dividend yields. By law, REITs must distribute at least 90% of their taxable income to shareholders, providing a steady stream of income. This makes them an attractive option for income-focused investors. REITs also offer liquidity compared to direct real estate investmen ..read more
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What provisions can you include in an LLC operating agreement?
Dale & Eke Blog
by bkabritsor
1M ago
A limited liability company allows you to create a small business that protects your personal assets from creditor claims. This makes an LLC a popular company structure. Still, your business may not function to your benefit if you do not compose a comprehensive operating agreement. With an operating agreement, you outline the structure of your business along with other provisions that help the company operate and stay profitable. While these agreements vary by company, there are many provisions which are common and can work to keep a business from premature ruin. Business purpose and duration ..read more
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Strategies for estate planning with blended families
Dale & Eke Blog
by bkabritsor
2M ago
In today’s world, many families are not traditional. Blended families, where one or both partners have children from previous relationships, bring unique challenges to estate planning. Developing strategies that promote fairness and harmony among family members while minimizing potential conflicts is beneficial to everyone. Clear communication and transparency One of the most important approaches in estate planning for blended families is clear communication. Openly discuss your wishes and intentions with all family members involved. Transparency helps prevent misunderstandings and ensures tha ..read more
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How can you handle disagreements with your business partner?
Dale & Eke Blog
by bkabritsor
2M ago
Disagreements with a business partner are a natural part of running a company. When you talk to another individual who brings unique perspectives and ideas to the table, conflicts can arise. However, how you handle these disagreements can significantly impact the future success of your business. Communicate openly Communication is key to resolving conflicts. Create a space where both you and your partner can express your thoughts and concerns openly. Listen actively to your partner’s perspective without interrupting. Avoid making assumptions and seek clarification if needed. This way, you can ..read more
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Handling HOA disputes in your Indiana home
Dale & Eke Blog
by bkabritsor
2M ago
Living in a community with a Homeowners Association can provide numerous benefits, such as maintained common areas, community facilities, and often a higher standard of neighborhood aesthetics. However, living under the rules set by an HOA can sometimes lead to disputes between homeowners and the association. These disputes can range from disagreements over dues and fee increases to conflicts about property modifications or compliance with community rules. In Indiana, effectively handling HOA disputes requires a good understanding of both your rights as a homeowner and the governing documents ..read more
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How living wills and healthcare powers of attorney differ
Dale & Eke Blog
by bkabritsor
3M ago
Being able to voice your medical care preferences is something you should never have to lose. Unfortunately, infirmities, illnesses or disabilities could rob you of the capacity to make your own healthcare decisions. This is why people make advance plans to carry out their future care. You may have heard of someone making a living will, or another person composing a healthcare power of attorney. These two documents are not the same, but each can help ensure that a care provider will honor your wishes. What to know about a living will A living will is a legal document that outlines your prefere ..read more
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How to handle a driveway encroachment
Dale & Eke Blog
by bkabritsor
4M ago
Managing a driveway encroachment can pose unexpected hurdles for homeowners and might lead to conflicts with neighbors. Knowing how to handle this issue is important for protecting property lines and keeping good relationships with neighbors in the community. There are four steps that you can take to handle a driveway encroachment without taking legal action. 1. Identify the encroachment Start by identifying the encroachment on your property. This may involve measuring distances and reviewing property surveys to find out the exact extent of the encroachment. 2. Communicate with the neighbor In ..read more
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Drafting a succession plan for your family business
Dale & Eke Blog
by bkabritsor
4M ago
Drafting a succession plan for your family business helps ensure its long-term viability and continuity across generations. A succession plan outlines the process for transferring ownership and management responsibilities to the next generation of leaders within the family. Without a clear plan in place, the future of the business may be uncertain. This raises the chances of challenges arising during times of transition. Identifying key stakeholders and objectives The first step in drafting a succession plan for your family business is identifying key stakeholders and establishing clear object ..read more
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What doctors in Indiana should know about estate planning
Dale & Eke Blog
by bkabritsor
5M ago
As a doctor practicing in Indiana, it is important to plan for the future. This is not only for yourself but also for your loved ones and your assets. Estate planning can ensure the fulfillment of your wishes and the protection of your assets. Probate and its implications Probate is the legal process through which a deceased person’s estate goes to beneficiaries and heirs. It can be time-consuming and expensive. Doctors should consider strategies to minimize probate, such as establishing trusts or using joint ownership for certain assets. Creditors About 15,918 active physicians practice in In ..read more
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