Planning for Tomorrow’s Goals, Today – Blog and Client Resources
Estate Planning Basics
As a general rule, everyone should put together an estate plan. What exactly that means will depend on your circumstances: net worth; trust planning; tax strategies, etc. Do not, however, fall into the trap of thinking that you need a certain net worth in order to need a will or estate planning. You do not.…
So You’re Graduating Dental School; What’s Next?
That’s a good question. What is next? You’ve just spent several years dedicated to education, learning the ins and outs of dental medicine. Now it’s time to decide how your dental career will start. The good news is that you have options. Associateship. The most common route, taking an associate position with an existing practice…
Three Under-Appreciated Issues in a Practice Purchase Transaction
When purchasing a practice, there is a veritable cornucopia of things to do. Based on the sheer number of tasks to complete to get ready to close, it is easy to overlook any number of potential risks and issues, not realizing the problem until you find closing is delayed or there is a post-closing problem…
Looking Beyond the Contract Price: Often Overlooked Contract Terms
Running a business take time. A lot of time. So very much time. Business owners serve in many different roles and provide many different functions for their businesses. Lawyer, however, is not one of them (unless you’re a lawyer, obviously). And so, when it comes to reviewing and negotiating a contract, time constraints and other…
Six Elements of Successful Contract Negotiations
Everyone has negotiated a contract. From haggling on the price of an old television at a garage sale, to negotiating salary and benefits at a new job, we have all negotiated a contract of one kind or another. That doesn’t mean everyone negotiates contracts well. Negotiating contracts is a skill like any other, and some…
Proactive Planning Amongst Partners
It’s cheaper and easier to plan how to deal with trouble than it is to get out of trouble. This is a maxim that holds true throughout our personal and business lives. And from a legal perspective it is especially true when considering going into business with one or more partners, when bringing on investors…
Things to Consider as you Prepare to Sell Your Business
The sale of a business can take months, if not years, representing the culmination of all the money, time and effort invested into your business. Despite this simple truth, time and again business owners approach the sale process without a clear plan and without considering the implications of this momentous event. By adopting a proactive…
The New and Improved Entity Choice: the Limited Liability Company
While the corporation can trace its history back hundreds of years (in varying amounts, depending on the source of your research), the limited liability company (LLC) is a fairly recent invention, first appearing a few decades ago. Designed by lawmakers to be an alternative to the archaic corporation, lawmakers made the legal structure of the…
Basic Taxation Aspects for Entity Choice
Consider your tax options when deciding on entity choice. When deciding on what type of entity to utilize for a business, there are any number of factors to consider. The modern approach suggests that the primary options are the corporation and the limited liability company (LLC). Both offer limited liability protection of their respective owners,…
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MEET DOMINIC TOTMAN
As Founder and Attorney of Totman Law, my primary goal is to offer and provide these services through engaged and communicative representation and proactive insight and legal planning.