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Arthur Hernendez

Arthur Hernendez

    Legal Action
    Law

    Planning Ahead – Count in all Factors

    by Arthur Hernendez 1 July 2023
    written by Arthur Hernendez

    Your law practice is a valuable asset and is an important component of your financial portfolio, now and for your future. Lawyers should develop a clear understanding about what will happen to this asset when they retire, die suddenly or become disabled. Too often, attorneys face the loss of the financial benefits of their life’s work (their firm)  because they have not planned ahead. Even if you are a sole practitioner, your practice is one of your most valuable assets!  It does have value beyond the day-to-day hours that you put in!


    We know one attorney, for example, who became disabled unexpectedly. He struggled to keep the firm going throughout the ordeal, but almost lost it to some untrustworthy associates who attempted to steal the firm’s clients. While in various hospitals trying to recover, the last thing this attorney had the ability to focus on was maintaining oversight of the crumbling firm, yet because there was no emergency plan in place, that is exactly what he had to do.

     
    This disabled attorney did not want to simply close the firm because he understood that significant value would be lost and rebuilding would be untenable.  Rather than closing the firm and losing its value, they arranged a high-dollar sale of the firm. This allowed the attorney to focus on getting better while feeling secure in knowing that his years of work were not lost, and that his future was secure. The importance of this story is not that everything worked out great for this particular attorney, but rather that it might not have. He had no emergency plan in place and had his personal circumstances been more dire, he may have lost everything. The lesson is that planning ahead can save you a lot of trouble when disaster strikes–and a lot of money.

      
    With regard to planned retirement, attorneys who think they will just close their doors one day are giving away an asset they have spent a career building.  For example, prior to retirement, an attorney should learn how to sell the cases on your shelf, your phone number, your web site, your equipment, the referrals that may be coming to you in the future, the goodwill you have garnered throughout your career and yes, even your name.  Your name will bring in cases for years after you retire.  Find the right person to pay you for all of these assets!


    That door you are closing is made of gold.  You can’t keep your firm going forever, but with clear planning, you can maintain some excellent benefits from it. Don’t let someone else capitalize for free on all that you have created.  

    1 July 2023 0 comment
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  • AccessoriesMoving

    Wooden Storage Boxes

    by Arthur Hernendez 29 June 2023
    by Arthur Hernendez 29 June 2023

    Wooden Storage Boxes may be a good option for retailers and movers who constantly have to move large arrays of…

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  • FitnessHealthWeight Loss

    Maximum Fat Loss and Reduce Blood Sugar with HIIT

    by Arthur Hernendez 25 June 2023
    by Arthur Hernendez 25 June 2023

    The HIIT pool combines two of the most effective ways to burn fat: 1. High-intensity training. The first way to…

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  • HealthHow to

    How to Keep Your Teeth Healthy While Wearing Braces

    by Arthur Hernendez 22 June 2023
    by Arthur Hernendez 22 June 2023

    If you wear braces, you likely dream about the day when they come off and you get to see your…

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  • InsuranceTips & Tricks

    Things To Consider When Purchasing Life Insurance

    by Arthur Hernendez 20 June 2023
    by Arthur Hernendez 20 June 2023

    There are two primary sorts of life insurance, term and permanent. Term life insurance is the most popular variety. It…

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  • Business & Finance

    Get Employed to Non-Intrusive Direct Information Collecting or Be Left in the Dust

    by Arthur Hernendez 17 June 2023
    by Arthur Hernendez 17 June 2023

    The accomplishment of focused ads more than non-targeted ones is extensively known now. All that’s left to debate is how…

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  • Tips & TricksWeight Loss

    Top 10 Most Effective Weight Loss Tips for Women

    by Arthur Hernendez 13 June 2023
    by Arthur Hernendez 13 June 2023

    Everybody wants to look smart but not everybody can curb their likeness for junk food and total dislike for physical…

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  • DetoxHealth

    Liquid Zeolite is the Best Detox on the Market

    by Arthur Hernendez 10 June 2023
    by Arthur Hernendez 10 June 2023

    Natural remedies and herbal remedies have been used by people for millennia to treat many conditions and illnesses. Natural remedies…

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  • FitnessWeight Loss

    Lose Belly Fat and Tone Up Fast

    by Arthur Hernendez 5 June 2023
    by Arthur Hernendez 5 June 2023

    Long-term natural weight loss is without a doubt one of the best ways to improve your quality of life and…

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  • AccessoriesTech & GadgetsTips & Tricks

    3 Crucial Things to Consider When Looking for the Best Electric Toothbrush- Don’t Skip Any of Them

    by Arthur Hernendez 1 June 2023
    by Arthur Hernendez 1 June 2023

    I do not suppose anyone would wish to spend his or her precious money on buying the best electric toothbrush…

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About Me

About Me

Arthur Hernendez

Welcome to my blog. Some Lab is the result of a long thought process and after careful calibration I designed it thus. Its not going to be like all other niche specific blogs you find on the internet. I have designed it to be containing a bit of everything. From fitness to business, product reviews to innovations in technology and much more. For the foodies, there will be content on some of the most coveted yet healthy dishes. Visit the blog to find out more. Your suggestions will be appreciated.

Recent Posts

  • Tech DevicesSome of the Best Tech and Gadgets You Need to Check Out in 2023
    10 July 2023
  • Meditation TipsFinding Inner Peace: Meditation and Relaxation Techniques
    5 July 2023
  • Legal ActionPlanning Ahead – Count in all Factors
    1 July 2023
  • Moving ItemsWooden Storage Boxes
    29 June 2023
  • JoggingMaximum Fat Loss and Reduce Blood Sugar with HIIT
    25 June 2023
  • Oral HealthHow to Keep Your Teeth Healthy While Wearing Braces
    22 June 2023
  • Insurance PolicyThings To Consider When Purchasing Life Insurance
    20 June 2023

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