Tuesday, January 10, 2012
There are many implications to understand before you make that decision.
Editor's note: Lisa is off this week, so we are sharing one of her columns from April 2011. Enjoy! My mother is in her late 70s. Because her health is starting to fail, I put her assets jointly into her and my names. That way, I can help her manage things if she develops dementia or some other illness. I have always understood that this was the best way to handle this type of situation Can you tell me more about holding assets jointly? Thanks, Lisa – Alex Hi Alex! It's true that you would be able to manage your mother’s assets if she became ill. People often put an elderly parent’s assets into accounts for just this reason. However, putting assets into your joint names isn't the best way to handle this. For example, when assets are held …
Wednesday, April 13, 2011
Smart parents present it as a privelege, enforce rules and limits.
Q: My oldest is asking for her own cell phone and wants to start texting. I'm nervous about entering this new territory with my kids. Any suggestions? A: Modern technology has added a whole new set of challenges to parenting. First I would ask yourself, does your child have a need for a cell phone? Is she responsible enough to keep track of one? Cell phones can be a handy way for your older child to call home for a ride when practice is over, or let you know where she is when out playing with friends etc. So if you think she's ready to keep track of an expensive item like a cell phone, and will have a use for one, then maybe it's time to consider it. Resist the temptation to get one simply because "everyone else" has one. I would …
Wednesday, April 6, 2011
Try to get to know the friend and why your child may like him.
- Pam Luby
Wednesday, April 6, 2011
Q: Help my son has made a new friend that I don't know very well, and I don't think I like him very much. What do I do? A: It's hard when our children make new friends that we don't know very well. At first we make and plan all the play dates and have all the control. As they get older they make their own friends and then their own plans. First get to know this new friend. What is it that you don't like about this friend? My advice is to ask your child what they like about their friend. But be careful, once they are on to you, or have an idea that you don't like their choice of friends they will clam up. You could invite the friend to a family outing (bowling/dinner). Find out why your child has chosen this person as a friend. When I …
Tuesday, March 15, 2011
I am starting a new business with a friend. Is a partnership the best way to operate the business?
Editor's note: Lisa Lehman is off this week, so we are sharing one of her columns from early 2011. Enjoy! My friend and I are starting a new business that we will both operate. We will equally share the profits. I think we should be a partnership, but am not sure. What are the advantages and disadvantages of operating our business as a partnership? — Jim Dear Jim, You didn’t mention the type of business you and your friend are starting. That will often impact the decision as to whether you should operate as a partnership, or some other type of business entity. Today, I will only discuss the pros and cons of forming a partnership. In future columns, I will write about other types of business entities available to you and your friend, …
Tuesday, February 22, 2011
Here are some of the important provisions in a commercial lease which prospective tenants should consider before signing the lease.
Lisa, I own a restaurant and found space in a large strip mall that I would like to rent. The owner gave me a lease to sign. Which provisions of the lease should I be particularly concerned about? — Brian Dear Brian, Well, sir, you have given me a tall order! Commercial leases can be very complex, and this column is only able to skim the surface. But I welcome the opportunity to answer your question and explain some of the lease provisions that may impact your business and pocketbook. I will address 10 aspects of a commercial lease that often cause financial and other hardships for tenants. I will only raise issues – their resolution will be a matter of negotiation between the tenant and the landlord. Here's a “Top Ten” list for Brian…