Beneficiary designation forms control the payment of
money from IRA's, 401(k)'s and insurance policies. These assets are
controlled by your contract with the plan or company and not by your will,
unless you have named your estate as the beneficiary. Many beneficiary
forms are filled out early in life when you may have designated your parent or
sibling as beneficiary. Please take the time to check the beneficiaries
named in your IRA's, 401(k)'s or life insurance policies to be sure your money
goes to the people you would designate today.
Keeping Accurate
Corporate Records
Keeping Accurate Corporate Record will save and make
money!
The most common reason people incorporate is to
shield themselves from personal liability for the debts and actions of the
corporation. Failure to act as a corporation could result in this shield
being penetrated and you as a stockholder or director being held personally
liable.
Accurate Corporate records, including up to date minutes
from every stockholder and director's meeting show that your company is acting
like a corporation. Failure to hold annual meetings and keep accurate
records could result in shareholders and directors being held personally liable
for actions of the corporation.
In addition, sloppy and inaccurate corporate books
could prevent your corporation from receiving financing or keep you from
selling your corporation. Often potential lenders and/or buyers will want
to review your corporate books as part of their diligent search.
Also, do not forgot the possibility your corporation could be audited.
Inaccurate and out of date corporate books could cost you money.
In addition, corporations are required to file Annual
Reports and a Certificate anytime there is a change in officers, directors or
resident agent. Failure to file the Certificates and annual reports can
result in fines and or dissolution by the Secretary of the State. If the
corporation is dissolved by the Secretary of State then the corporation cannot
conduct any new business. Any business done after dissolution exposes the
Shareholders to personal liability.
Please keep up to date minutes of all meetings and
please remember to file your Annual Reports.