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What Arbitration Is And Why It Matters For Business Owners

Running a business means you will eventually face disputes. These conflicts could be with employees over contract terms or workplace issues, customers over product quality or service delivery, suppliers over payment or delivery terms, or business partners over profit sharing or decision-making. When disagreements arise, the traditional route of resolving them in court can be time-consuming, expensive, and stressful – not to mention completely public. Anyone can look up a court case and read about the allegations, who’s involved, and what happened. And since the court process is deliberately adversarial, the facts presented by each side are usually, let’s say, less-than-flattering of the other side. Those public allegations against you or your business could even be false. Luckily, there’s an alternative: arbitration. Arbitration is a method of resolving disputes outside the courtroom, offering a quicker, more cost-effective, and private way to settle issues. 

In this article, we will delve into what arbitration is, its benefits for business owners, situations where arbitration is particularly advantageous, and how to prepare for it. Understanding arbitration can equip you with the knowledge to save time, money, and stress, helping you keep your business running smoothly even in the face of conflicts. 

We’ll start with the basics and explain what arbitration is and what it is not.

What is Arbitration?

Arbitration is a method of resolving disputes outside of the courtroom. You may have heard the term “alternative dispute resolution” or “ADR,” which refers to specific processes that help parties resolve their disputes without court intervention. Arbitration in one form of ADR. Another form of ADR is mediation, which is a much different process, but many people confuse the two. Check back here next week for a thorough discussion about mediation so you can have absolute clarity about the difference between these forms of ADR and know when to employ each for the success of your business. 

What Arbitration Is: Arbitration is like a private court in that a neutral third party, known as an arbitrator, listens to both sides and decides who wins and who loses. The arbitrator is typically an expert in the field related to the dispute, ensuring a fair and informed decision. It looks a lot like the court process. Both sides present their cases to the arbitrator and call witnesses. The lawyers for each side get to cross-examine witnesses and admit documents into evidence. At the end of the proceeding, the arbitrator issues a formal decision in writing, and that decision is binding, meaning you and the other party must follow it. To give further weight to the arbitrator’s decision, it is often submitted to a court for the judge to sign. Notably, only the decision is presented to the court – no facts of the case, arguments, or evidence will be made public. 

It’s vital to note that the decision usually involves exchanging money. Arbitration is not available in cases where someone’s liberty is at stake. 

What Arbitration Is Not: Arbitration is not the default resolution process. Both parties must agree that if any dispute arises between them in the future, they agree to settle the matter through arbitration. This agreement must be outlined in a written contract, and most states have specific rules on how the arbitration clause in a contract must be phrased and executed. One deviation could make the clause unenforceable, meaning you end up in court anyway. 

Arbitration rules are less stringent than court rules, offering a more flexible and faster process. While it’s ideal for the arbitrator to be genuinely neutral and an expert in the type of dispute, that’s not always the case. Since no formal court rules are in place to ensure impartiality and the arbitrator’s expertise, the parties may or may not be able to petition for another arbitrator to hear the case. Furthermore, unlike a jury trial with a judge, there aren’t the same checks and balances. The arbitrator possesses all the power over the process and the final decision, giving you more control over the resolution process.

Now that you understand the basics, we’ll discuss how arbitration benefits you as a business owner. 

Benefits of Arbitration for Business Owners

Since you’re busy running a business, arbitration offers many benefits. Here are a few.

Arbitration Saves Time. Going to court can be a long, drawn-out process. It can take months, if not years, to resolve. Court cases are often delayed, and you might be stuck in legal limbo. Arbitration, on the other hand, is designed to be fast and efficient. Arbitrators typically start the process quickly and keep it moving until the conclusion. This means you spend less time away from running your business.

Arbitration Saves Money. Legal fees can also add up quickly in court cases, significantly the longer it takes to resolve. Attorneys charge for their time, and the longer it goes on, the more expensive it becomes. Arbitration is generally less pricey because it avoids many of the formalities of a court case. If your lawyer charges by the hour, fewer billable hours means lower costs for you. 

Arbitration Keeps Your Affairs Confidential. This may be the most enticing reason for choosing arbitration as a dispute resolution method. Court cases are public, which means anyone can look up the details of your dispute. This can be embarrassing and might harm your business reputation. Arbitration, however, is a private process. The hearings are not open to the public, and the details are only disclosed if both parties agree. This confidentiality can protect your business’s image and sensitive information.

When to Choose Arbitration

While arbitration has many benefits, it’s not always the best choice for every dispute. However, here are some situations where arbitration can be particularly advantageous.

Contract Disputes. Contract disputes are highly technical and can boil down to the interpretation of one or two words that may seem ordinary to laypeople (juries, for instance) but have specific meanings under the law. However, many arbitrators are current or former lawyers, and they’ll often be able to parse out the technical details and specific legal terms without explanation or ambiguity.

Employment Issues. Employment disputes, such as disagreements over wages, working conditions, or wrongful termination, can be sensitive and complex. Using arbitration for these issues can help maintain a better relationship with your employees. The confidentiality of arbitration also means that the details of these disputes won’t become public, which can protect both your business and your employees’ privacy.

Business-to-Business Disputes. When you have a conflict with another business, arbitration can help maintain a professional relationship. Since the process is less adversarial than a court case, you’re more likely to reach a resolution that allows both parties to continue working together. This can be especially important if the other business is a key supplier, customer, or partner.

The Importance of Expert Guidance

Before we close, I want to emphasize an important point: with arbitration, you can override the default dispute resolution process—court—by simply agreeing to it. However, with great opportunity comes great responsibility. The court process has formalities built in to protect the parties, and since arbitration is less formal, you want to be very careful about choosing arbitration to resolve business disputes. After all, a decision against you or your business could mean a big payout to the other party. 

I aim to ensure your business thrives. I can advise and counsel you to help you make the best decisions about resolving business disputes with as little impact on your business as possible. I also create and review contracts, including those with arbitration clauses. Finally, I help you put your foundational legal, insurance, financial, and tax systems in place so your business is protected from risk and prepared to resolve disputes before they arrive at the point where arbitration is needed. All this saves you time and money, so you can direct your energy and attention to what you do best: running your business. 

The Advisor You Need, No Matter What Happens

As your trusted advisor, I understand the negative impact of conflict on you and your business. That’s why I offer a comprehensive Business Breakthrough Session where we’ll analyze your current business foundations – including protecting your business from the risk of conflict – and develop a plan to address gaps. Together, we’ll ensure that your business is well-equipped to handle anything that happens. With my support, you can confidently engage with third parties, safeguard your brand’s reputation, and focus on what you do best—growing your business.

Contact us today!

This article is a service of Res Nova Law, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning™ Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning™ Session.

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Bringing Rural Communities Up to Speed: Port of CW Partners With NocTel

Washougal, WA — In alignment with its slogan “It is our nature to thrive” the Port of Camas Washougal has partnered with its tenant NocTel to bring the best, fastest local Internet service to its tenants within the Port District. The Port is well known for being committed to helping tenants thrive through support and advocacy locally and beyond.

Port Executive Director, David Ripp said “Partnering with Cory Schruth of NocTel on this project is a clear choice for us, their goals and values in the community completely align with ours. They have proven they are a tenant that is committed to bringing a true quality service to Port tenants and local residents, which is the best and most reliable service to this area. This is why the Port exists, to continue to support companies like NocTel.”

NocTel has been around since 2011 and during Covid the demand for rural areas in SW Washington to have the opportunity for high speed Internet service became glaringly apparent, so they jumped at the chance to provide a solution. NocTel Fiber provides fast broadband to neighborhoods that do not currently have options for fast Internet access. As a local resident, Cory understood how frustrating using slow Internet can be. Parents, those working remotely, and students alike now had access to Internet service they didn’t know was an option for them at the time.

Abysmal, hopeless and slow were some of the words used to describe rural SW Washington Internet services, they reached out to many well-known entities, but no help came. Cory realized it was time to take charge and build a network. This is how NocTel Fiber was born. He determined fiber optic cable was the fastest and most reliable solution for rural areas. Now, NocTel Fiber has miles of cable in rural areas in SW Washington, with many future plans to expand their network.

Cory Schruth, Founder of NocTel Fiber said “We bring Fiber to the Forgotten. We don’t think anyone should not have the same opportunity as anyone who lives in a city, metropolitan area to have the same connection to the world. We are thrilled to work with the Port of Camas/Washougal to provide their tenants with exactly what they deserve, reliable, fast Internet service through fiber.”

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Celebrity Estate Plans Series, Part 3 of 4: Jay Leno’s Case No Laughing Matter

For the last two weeks, we’ve discussed celebrities and how they planned (or didn’t!) for their deaths. In this third installment of our four-part celebrity series, we discuss a topic that no one wants to consider as it may seem to be a fate worse than death: incapacity. Unlike death, not everyone will become incapacitated. Yet, it’s an essential part of your future planning because if you do become incapacitated, you want to have made your choices well before that occurs. To illustrate the importance of planning for incapacity, we’ll examine the real-life court case involving Jay Leno and his wife, Mavis. I assure you, it is no laughing matter. A comprehensive Life & Legacy Plan can provide reassurance and peace of mind, and we’ll explore its benefits in this context. 

The Leno case highlights what happens when you or a loved one becomes incapacitated and what can happen if you have not planned in advance. From the Leno case, we can learn several lessons, including 1) What incapacity is and what it is not, 2) What a spouse can and can’t do with the other spouse’s financial affairs, and 3) How you can end up in court with all your affairs becoming public knowledge. We’ll address all three topics here, emphasizing why these matter, even for tf us who have never hosted “The Tonight Show.”

Let’s start with the basics: what do we mean by discussing “incapacity”?

What Incapacity Is and What It’s Not

If you become incapacitated, you’ve lost the ability to make sound financial, medical, or legal decisions for yourself. You may even make harmful decisions or be unable to communicate at all. Incapacity can result from several circumstances, including a tragic accident, a serious, end-of-life illness, or aging-related challenges, such as dementia or Alzheimers. Like death, incapacity can strike at any time and any age. Once it does, it’s too late to get your affairs in order, and your loved ones will be stuck in a mess. This is why planning for incapacity is not just a good idea, it’s a necessity. 

This may seem obvious, but stay with me: It’s important to note that incapacity occurs while you’re alive. I say this because estate planning, to some degree, has much to do with timing. You can have a plan and create documents that deal with your incapacity. However, that plan and documents become null and void once you die, and another document is needed.

This matters to you: If you’re like many people, you’ve heard of a document called a Power of Attorney. You may even have authority for an aging relative under a Power of Attorney. In my practice, however, I’ve found that most people don’t realize that the authority granted under that Power of Attorney ends as soon as the person granting the power dies. So, while you may be able to access your loved one’s checking account to pay bills while they’re alive, that ends immediately at death if your access was under a Power of Attorney. You must then get separate authority – from a court if assets are not held in a trust – to handle the remaining assets after death. In simpler terms, the legal documents you have in place for incapacity may not be enough, and you could end up in court if you’re not prepared.

This means your incapacity planning and post-death planning must work together so the transition is handled smoothly and with as much ease for your loved ones as possible. And that brings us to the Leno case.

So, What Happened In the Leno Family? (And What It Means for You)

Mavis Leno, Jay’s wife of more than 40 years, is battling dementia and has reached the point where she can no longer handle her financial affairs. So, Jay had to go to court (essentially filing a lawsuit against his wife) to be able to manage her finances. After a few months, the court ruled and gave Jay the requested authority.

That’s essentially the entire story. But we can’t stop there! Even from just three simple sentences above, several key takeaways exist. 

Here are the highlights:

Even though they were married, Jay did not have automatic authority to manage Mavis’s finances. And neither will you if you’re married and your spouse has separate assets. Any assets or accounts you own are your property and your property alone. Marital status is irrelevant. And, if you don’t have advance planning in place, your spouse could need to go to court and sue your “estate” to get appointed and be able to take control of your assets. 

Leno had to file a lawsuit (against his wife) to gain control of his wife’s finances. 

That’s the process, no matter what State you’re in. If you don’t have advance planning and you become incapacitated, someone will need to go to court to get authority, even if you have powers of attorney in place. And it will cost time (a few months in most cases) and money. While waiting for the court to rule, you won’t be able to pay your spouse’s bills using their money (or they may spend away, unaware of what they’re doing). That leaves you with two options: 

You can pay the bills with your money and then get reimbursed later. This may be fine, especially if you have the financial means. But if you don’t have immediate access to cash, say your spouse paid all the bills from their account, this could mean trouble and potential asset loss. Or, bills simply go unpaid. Maybe you can explain the situation to the financial institution, and they will be patient while the court process plays out, but this doesn’t always happen. 

The court process is set up for conflict, and the more conflict there is, the longer the process will take. In Leno’s case, he and Mavis have been married for over 40 years, and it’s their first and only marriage (relationship goals, right?). Given this fact, it’s reasonable to assume that no one challenged Jay’s request. But what if one of them had been married before and had children from the prior marriage? And what if one of those children wanted to ensure they got their inheritance and didn’t want the step-parent to have any control over the money? Sadly, this happens all the time. When it does, the case can go on and on, meaning court costs go up, and the assets in question could be at risk due to the time delay.

Leno’s personal and family information became public knowledge, but not because he’s famous. In most States, you must disclose your address, your family members and their addresses, and information about the financial assets. The Leno family’s story is available for all of us to read, not because he’s famous, but because they had to go to court. 

This can be problematic because scammers are paying attention. They tend to pay particular attention if you (or someone you love) are vulnerable, especially if you’re older. I could write books about how often older people fall prey to these scams. And they’re all disturbing.

So, what have you gleaned from these insights so far? If anything concerns you, know there is a much better way this could have been, and this better way lies within your reach. 

A Life & Legacy Plan Keeps Your Affairs Private and Your Family Out of Court and Conflict

A Life & Legacy Plan solves the problems that left Jay Leno having to sue his wife’s estate to get access to her accounts. With a Life & Legacy Plan in place, you would have a seamless transition from capacity to incapacity and then to death. There’s no time delay; assets can be immediately available if needed. A Life & Legacy Plan can also keep you and your loved ones out of court and conflict, saving time and money and keeping all your affairs private.

When you work with me to create your Life & Legacy Plan, we’ll ensure your plan stays updated throughout your lifetime. This is critically important because if your estate plan doesn’t reflect your current life circumstances, the time you need won’t work. That means you end up in court, just like the Leno family; for context, most attorneys ensure your plan stays current. But I’ve seen too many plans fail because of this; we’ll review your plan at least every three years and make updates as necessary. 

We’re Here for You Throughout All Of Life’s Changes

Incapacity planning is more crucial than ever, especially with cases of dementia on the rise. According to Alzheimer’s Disease International, over 55 million people worldwide currently have dementia, and that number is expected to increase to 78 million by 2030. Whether you’re diagnosed with dementia, another severe illness, or a terrible accident that results in your incapacity, a Life & Legacy Plan will help ensure you’re prepared, no matter what happens.

We help you create a Life & Legacy Plan so that your loved ones stay out of court and conflict and have a plan that works when you (and they) need it. Once you’ve created your plan, you can rest easy knowing your wishes will be honored, your loved ones cared for, and your personal information kept private. 

Contact us today!

This article is a service of Res Nova Law, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning™ Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning™ Session.

The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

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Celebrity Estate Plans Series, Part 2 of 4: Vanilla Ice Has Thoughts

This week, we’re continuing to look at the lives of four celebrities and how they’re preparing for the inevitable (or didn’t!). Last week, we examined Michael Jackson’s planning and the holes in his plan that resulted in his family being embroiled in court and conflict for 15 years and counting (if you missed it, go back and check it out!) in this second article of our 4-part celebrity series, Vanilla Ice chimes in with his estate planning experience, advice, and lessons learned on a video he posted to his YouTube channel. He has a lot to say! 

Vanilla Ice (Really) Hates Estate Taxes

Vanilla Ice shares the story of his buddy Mark, whose parents owned a sprawling property in Palm Beach, Florida. When they passed, Mark and his siblings sold the estate, expecting to be set for life. However, estate taxes ended up taking over 80 percent of their profit. Ouch.

Vanilla Ice calls this tax a “generational wealth killer,” he’s not wrong. Estate taxes can sneak up and bite a massive chunk of your wealth. And the thing is, with a proper estate plan, this doesn’t have to happen! The key is to educate yourself. Knowing what you’re up against helps you plan smarter so that more of your hard-earned assets reach your heirs. 

Education is the most important part of estate planning. That’s why my planning process begins with a Life & Legacy Planning Session, where you’ll get the plain and straightforward education you need to make wise decisions about your planning, including how to keep your family out of court and out of conflict, minimize taxes, and ultimately create a plan that works for you and the people you love, when they need it. 

So, first lesson: if you suspect your family could pay estate taxes at your death, don’t wait to plan. There’s way too much at stake. Call us, and let’s get you to know about the kind of planning you want and need for yourself and the people you love. 

Vanilla Ice Thinks Life Insurance is Cool

(“Ice” and “cool” – get it? Sorry, I couldn’t resist.) 

Life insurance isn’t just for covering funeral costs – it’s a secret weapon in estate planning. Vanilla Ice suggests “maxing out your life insurance” to give your kids as much money as possible. What makes life insurance “cool” is that death benefits aren’t subject to income tax, meaning your heirs can get more bang for your buck than if you were investing the money you’d put into life insurance premiums into just about any other asset class. 

It’s worth considering what Vanilla Ice suggests here. When you take out a life insurance policy, the payout can cover any necessary taxes, probate fees, and debts, ensuring your heirs receive the lion’s share of your assets. Life insurance can help with short-term needs, like paying off a mortgage, or it can serve your family’s long-term needs, like maintaining the lifestyle to which they’re accustomed.

When you get educated via our Life & Legacy Planning process, we’ll look at your life insurance, whether you have the right amount and the right type, and ensure you are 100% clear on what it might mean to “max out your life insurance” and if you really should do that. We’ll consider whether you need more insurance, less insurance, or a different kind of insurance based on your family dynamics, assets, and what you want for the people you love after you leave.

Second lesson: If you want to be cool, plan to buy the right type and kind of life insurance.

Ice Says Trusts Are Not Just for the Rich and Famous (and He’s Right!)

Trusts might sound like something only the super-wealthy need, but they’re an intelligent tool for anyone looking to protect their assets. 

Ice mentions irrevocable trusts specifically. These types of trusts let you transfer assets to a beneficiary while removing the assets from your taxable estate, ensuring your assets aren’t subject to estate taxes. Any assets in an irrevocable trust are protected from legal judgments and creditors IF you do it correctly and in the right jurisdiction. If it’s something you are interested in, contact us, and we can talk. In the video, Ice jokes about putting his classic car collection into a trust and setting rules, such as his kids can lease but not sell the cars. This protection ensures your heirs benefit from it, but don’t squander the assets. In other words, even after death, you can determine how your assets will be used. And if you want to protect them for future generations, you can. This is one way to create generational wealth. 

So now we’re up to our third and final lesson: If you want to protect and preserve your assets for generations, take Vanilla Ice’s advice and utilize trusts in your planning. 

Put Vanilla Ice’s Advice Into Action Today

Vanilla Ice’s video brings forward lessons everyone can benefit from. By understanding your options, including how taxes and life insurance impact your family and assets specifically, and considering using well-counseled trusts, you can safeguard your assets and ensure they benefit your loved ones the way you want. To quote his classic hit, “Ice Ice Baby,” ‘Anything less than the best is a felony.’ Take these lessons from Vanilla Ice to heart, and start building a solid estate plan today. Your future generations will thank you for it. 

We help you create a Life & Legacy Plan rooted in education and clarity so your loved ones stay out of court and conflict and your assets are protected. Once we’ve created your plan, you can rest easy knowing you’ve done the right things for the people you love most.

Contact us today!

This article is a service of Res Nova Law, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning™ Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning™ Session.

The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

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Celebrity Estate Plans Series, Part 1 of 4: Michael Jackson

What is it about celebrities that always draws us in? For whatever reason, we just can’t resist a good, juicy celebrity story. So, for the next few weeks, we will look at the lives of 4 celebrities and see what we can learn from their stories. 

This week, we’re turning the spotlight on Michael Jackson. Even if you aren’t old enough to “Remember the Time” when Michael Jackson was dominating the charts, by the end of this article, you’ll see that he left holes in his estate plan that we can learn from.

Now, let’s dive in and learn how to avoid the same fate for your loved ones. 

It’s As Easy as “ABC” (and 1, 2, 3)

Before we look at the specifics of Michael Jackson’s story, let’s dispel a myth about estate planning: You need not be rich, philanthropic, or famous to need estate planning. You need estate planning if you own anything – even a bank account – and have people in your life you love. It’s as simple as that (dare I say it’s as simple as “ABC” and 1,2,3?). So, as you think about your estate planning, it’s time to “Beat It” past the misconceptions so your loved ones can empower you to do the right thing. 

Creating a Will Alone is a “Bad” Choice

So what happened in Michael Jackson’s case? His estate plan included a Will, which established trusts for his mother, Katherine, and his three children, Paris, Prince, and Bigi. 

Let’s stop because this setup already has an increased potential for conflict.

When your assets pass via “Will” (instead of via Trust), your assets must go through a court process called probate. Subjecting your assets and your family to probate can result in a long, time-consuming, public, and messy court process that can be unnecessarily expensive to resolve. 

A trust, on the other hand, bypasses the court process altogether as long as your assets are owned in the name of the trust when you become incapacitated or when you die. If your assets are appropriately transferred and retitled into the trust (called “funding” the trust), your estate can be administered privately and often takes less time than the court process. A trust can be set up and funded while you’re alive, thereby avoiding probate, or it can be a part of your Will. When it’s part of your Will, like in MJ’s case, it isn’t established or funded until after the court process. So, if you’re trying to keep your family from going through the court process, putting a trust in your Will completely defeats the purpose.

Since Michael Jackson’s assets passed via a Will, there have been ongoing legal matters in court, which still haven’t been resolved in the 15 years after his death. MJ’s family is embroiled in a dispute with the IRS, so the trusts he intended to create for his mother and children remain unfunded. Therefore, some of his assets cannot be transferred to them as he planned. It’s also highly probable that the legal disputes continue to cost the estate a lot of money. That’s money that otherwise would have gone to his mother and children. 

Taxes – A Potentially “Dangerous” Situation! 

The Jackson estate’s ongoing battle with the IRS is a stark reminder of the tax implications that can affect your plan and your loved ones. When it comes to taxes, you can’t think in terms of “Black or White.” If you intend to avoid as many taxes as possible, you don’t want to cut corners by doing your estate planning cheaply or independently. That could be “Dangerous!” 

Taxes can significantly reduce the value you pass on to your heirs, directly impacting your loved ones. So, our next lesson from Michael Jackson’s story is that the stakes are too high to attempt alone when it comes to saving money on taxes. Work with a professional who can advise you properly. We aren’t clear why Michael Jackson didn’t get the support necessary to minimize taxes and protect his estate from a long, drawn-out court process, but we know we can help you and your loved ones.

Avoiding the “Thriller” of Legal Disputes

The Jackson case also highlights the importance of choosing the right representatives for your estate. These are the people who handle your affairs after you’re gone (they’re called “executors” if there’s a Will or “trustees” if there’s a Trust). MJ’s family members have criticized the representatives for the way they’ve managed the estate. In particular, Katherine Jackson has alleged that the executors have been too frugal and are holding onto assets to maintain control. 

Conflict between your representatives and your loved ones is always possible. To help minimize the potential, we recommend you communicate your intentions to your representatives and loved ones during your lifetime. Consider holding a meeting so everyone knows your wishes and understands the intent behind your decisions. You may not be able to “Heal the World” on your own, but you can promote healing within your own family and prevent future conflict by opening the lines of communication now. 

Also, know that you don’t have to choose family members to be your representatives – even if you feel pressured. If you aren’t sure who the “right people” are, think about people you know who are trustworthy and capable of handling complex financial and legal matters. There’s also the option of choosing a professional representative, as Michael Jackson did, who might be more appropriate for your situation. 

Our two final lessons from Michael Jackson’s story are: 1) Communicate your wishes openly to your representatives and your family, and 2) Choose the right people to act for you when you no longer can. 

“You Are Not Alone” – We’re Here for You

By learning from the challenges faced by Michael Jackson’s family, you can ward off the possibility of a similar outcome for your loved ones. Your careful planning today can pave the way for a smoother transition of your assets in the future, ensuring that you can support your family after you’re gone rather than creating a mess for them to handle without you. 

It’s “Human Nature ” to want to avoid thinking about your death, much less plan for it. We get it. But we can live a more fulfilling life when we face our mortality. The good news is that you don’t have to deal with it alone. We’re here to support you every step of the way. 

We help you create a comprehensive Life & Legacy Plan from a place of education and intention so that your loved ones stay out of court and conflict and you can minimize taxes. Once you’ve created your plan, you can rest easy knowing your wishes will be honored, your loved ones cared for, and your legacy preserved. 

Schedule a complimentary 15-minute consultation at Res Nova Law Firm to learn more. Contact us today!

This article is a service of Res Nova Law, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning™ Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life & Legacy Planning™ Session.

The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

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August 6 is Primary Election Day: Here Are The Ballot Drop Off Box Locations

Vancouver, WA — According to the Clark County Elections Office, if you wish to return your voted ballot in person on or before Election Day take it to:

Clark County Elections Office (1408 Franklin Street, Vancouver), available from 8 am to 5 pm Monday through Friday and 7 am to 8 pm on Election Day.

Or return your voted ballot to one of the 22 red permanent ballot drop boxes, available 24 hours a day starting 18 days before an election until 8 pm on Election Day.

Clark County Locations: 

Vancouver Locations:

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The Surprising Secret to Business Success: Replacing Yourself!

You embarked on your entrepreneurial journey with a seedling of an idea, nurturing it through the challenging early years with grit and personal sacrifice. Over time, that seedling grew into a thriving enterprise, a testament to your passion, dedication, and hands-on leadership. 

Your business has become an extension of yourself. After all, you are the boss, the visionary, the indispensable driving force behind it all. At least, that’s how it may feel. But even for a skilled leader, there is one uncomfortable truth to accept – at some point, you must replace yourself if you want your company to outlive you, whether through a sale, retirement, death, or incapacity. Paradoxical as it sounds, making yourself replaceable is the ultimate key to ensuring your business’s longevity.

The Paradox of Replacing Yourself

As an entrepreneur, you’ve worked incredibly hard to build your company from the ground up. Your business is your baby – the product of your passion, sacrifice, and commitment. Probably one of the last things you’re thinking about is either closing it down or handing it off to someone else. 

Here’s a reality check: no matter how indispensable you might feel, your business cannot rely solely on you to thrive in the long run. Whether due to retirement, illness, or the inevitable passage of time, there will come a day when you won’t be around to call the shots. If you haven’t prepared for that day, your life’s work could be at risk. Your loved ones could end up in court or conflict, and your business partner(s) or team members could be left in limbo. But all these outcomes are avoidable, if you plan ahead.

So, what does it mean to plan? It means you must make it your mission to replace yourself as the boss systematically. It seems paradoxical. You’ve worked hard to get your business off the ground, so why would you willingly give that up? The answer is sustainability – if you want your company to thrive for generations, you must let go of the reins, at least at some point. 

Think of it not as stepping down, but as the ultimate act of leadership and love. By planning for your succession, you ensure your business continues serving, providing jobs, and supporting your loved ones. You’re leaving a lasting legacy, a testament to your vision and hard work. What a gift you’re giving to your customers and your loved ones! 

Think briefly about what could have happened to Apple after Steve Jobs died. Had he not made a plan to replace himself, your iPhone may be just a relic today, maybe even stashed away in a box in your attic. Apple could have been broken up and sold off, or Steve Jobs’ loved ones could have been tied up in court and conflict with the other Apple shareholders. 

Thankfully, none of this happened. iPhones are still made and improved yearly, and new products have been introduced since Jobs’ death. Apple is still one of the world’s most profitable and influential companies. 

You don’t have to be as well-known as Steve Jobs and Apple to apply the same lessons. Replace yourself, and your business continues to serve people and enrich their lives. Don’t replace yourself, and your business likely ends when you do. 

It’s that simple.

Identify Your Successors

So, how do you go about replacing yourself? Start by identifying whether you have any internal team members to develop as potential successors, or if you’ll need to consider an outside sale of your Company, or possibly hiring for future succession. Don’t worry about finding a carbon copy of yourself, but molding people who share your vision and can build upon what you’ve created.

Groom these people over the years by delegating more significant responsibilities to them. Slowly but surely, remove yourself from the day-to-day decisions and operations and see how they progress. Provide candid feedback, guidance, and advice, playing more of a coaching and mentoring role.

As you release the reins to others, you’ll necessarily need to shift away from working “in” the business to working “on” or even “above” the business. This is the perfect time to analyze your systems and ensure your business has the right foundations for succession. If you aren’t sure you have the suitable foundational systems in place (specifically, your legal, insurance, financial, and tax systems), engage with a trusted advisor who can help you, like us, or even a team of advisors, such as our dream team we’ve assembled. 

Before I move on to the next section, I want to point out something important. Did you notice above I said “people” instead of “person” when identifying business successors? That was intentional. For the health of your organization, you need a full bench of empowered leaders, not just one person waiting in the wings. Cross-train multiple employees or family members, document processes, and get everyone aligned with your company’s mission, values, and strategic direction. This is not only smart but ensures continuity across the organization.

The Hardest Part: Let Go of Control

One of the toughest challenges as an entrepreneur is letting go of control and relinquishing the power and final say you’ve grown accustomed to. You have to fight against instincts of micromanagement and trust that your successors can rise to the occasion when you’re not calling every shot. The hardship and wisdom will stay if you relinquish that control in stages. 

This can be a tough mindset shift for entrepreneurs who have hung their entire sense of purpose and identity on their business. But it’s crucial for the long-term viability of their life’s work. After all, what good is all that success if it gets erased the day they’re gone?

Does it mean you have to check out entirely someday? Not at all! You’ll begin by establishing clear key performance indicators (KPIs) to measure so you can ensure your team is hitting their metrics and that you can monitor results even without being involved in the day-to-day. In the long term, you may want to stay involved as an advisor board member or just have your name on the wall. The point is to separate your identity and personal involvement from the company’s ability to operate successfully.

Make Sure to Formalize Your Plan

So now you know the importance of replacing yourself, you’ve identified successors, and you’re letting go of control. Formalizing your plan is essential so it will be honored and enforceable. How do you do that? Work with a professional. As a Business Advisor, I can guide you to document your wishes correctly and encourage you to think about death and succession and something you may have overlooked – your incapacity. You need a plan not only for what happens if you’re no longer around but also for what happens if you’re around but unable to participate in your business, whether it’s from a terrible accident or a severe illness. You’ll want someone who can walk you through these challenging scenarios so you’re empowered to make the best decisions for you and your business.

The Business Advisor Who Has Your Back

As your Business Advisor, I am committed to guiding you through the crucial process of replacing yourself as the leader of your business. This will allow your business to carry on without you and make a difference in other people’s lives. Together, we’ll create and refine your foundational systems and build a solid plan so your life’s work thrives for generations. That’s the secret to business success and the gift you give to your customers, team members, and loved ones.

Book a call to learn more. Contact Res Nova Law Firm today!

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Lane Cellars: Local Winemaker Opens Tasting Room in Downtown Camas

They source the grapes from eastern Washington, have their own grape vineyard in Brush Prairie, bottle their own wine, and now Lane Cellars has their own tasting room in downtown Camas, which opened in February.

“We make the wine, we are winemakers,” said Kimberly Lane, co-owner of Lane Cellars. “We have been wine enthusiasts for many years, then started volunteering in the local industry in 2012 with another winery helping out with harvest and crushing, and we just got into it.”  

Kimberly, and her husband, John, became home winemakers, went commercial in 2017, are part of the Southwest Washington Winery Association, and by 2019 they had enough production and became a part of the Camas Farmer’s Market. It was an exercise in patience when the COVID pandemic hit in 2020.

And, now with their tasting room in downtown Camas, at 340 E 4th Avenue, they have a venue to showcase their products, host live music on Friday and Saturday nights, and give their guests a place to relax. Guests may order wine by the glass, the bottle, or by the flight. They also have a limited light food menu, and serve local IPAs, Pilsner and lagers.

Lane Cellars produces a variety of wines, including Merlot, Syrah, Cabernet Sauvigon, and a 50/50 blend that took Best in Class in the Red Bordeaux category.  The blend is 50% Cabernet Franc, 50% Petit Verdot and has become a guest favorite.

Guests love to spend time at Lane Cellars, which is quickly becoming a destination for wine lovers, and music fans. Make sure to visit on Friday’s and Saturday’s to enjoy live entertainment.

Tasting room hours

Wednesday-Thursday: 3-8 pm.

Friday: 3-9 pm.

Saturday: noon-9 pm.

Sunday: noon-5 pm.

Learn more at lane-cellars.com

Lane Cellars
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29 Camas Businesses Announce Launch of Explore Camas Passport

Camas, WA – Camas business owners are excited to announce the launch of the Explore Camas Passport, a program designed to reward consumers for shopping and dining local. The official launch date for the Summer 2024 Explore Camas passport is June 1, 2024. This unincorporated group of business owners met in January 2024 to brainstorm ways to collaborate and promote the vast array of businesses and services throughout Downtown Camas. 

The Explore Camas Passport is a fun way to engage and reward the community for supporting local. Passport holders collect stamps from participating locations through making a purchase, taking a class, or joining in on an activity. After accumulating at least 20 stamps, the passport holder is then eligible for a special discount or offer from each of those locations. Completed passports are submitted to the Camas-Washougal Chamber of Commerce by September 30th to be entered into the Grand Prize Drawing valued at over $1500.

The Launch Party for the Summer Passport is Saturday, June 1. Look for Red Balloons throughout Downtown Camas identifying participating locations.

“Our group of 29 businesses have worked hard to develop this robust campaign to show our appreciation for everyone who shops and supports local small businesses. Camas has a wide variety of boutiques, restaurants, and services set in a charming atmosphere. We are excited to introduce the Explore Camas Passport program and to give consumers another fun way to experience Camas,” said Suzanne Ferguson, owner of Juxtaposition.

Participating Businesses

  • 4Ever Growing Kids 
  • Allure Boutique 
  • Arktana
  • Autumn Leaf Books 
  • Caffe Piccolo 
  • Camas Antiques
  • Camas Boutique Hotel 
  • Camas Cellars 
  • Camas Plant & Gift
  • Feast 316 
  • Grains of Wrath 
  • Hidden River Roasters
  • Its Bookish 
  • Jazzercise Camas 
  • Juxtaposition
  • Keller Med Spa 
  • Lane Cellars 
  • Lily Boutique
  • Livewell Camas 
  • Natalia’s Café 
  • Nuestra Mesa
  • Papermaker Pride 
  • Periwinkles Toy Shop 
  • Poppy & Hawk
  • Red Door Gallery 
  • Runyan’s Jewelers 
  • Salud/Giatti’s
  • Sweet Intention Gift 
  • Tommy O’s

Sponsors: Edward Jones and Camas-Washougal Chamber of Commerce

The businesses are also planning to release a Holiday version of the Explore Camas Passport, November 1, 2024. The passport development, design, printing, distribution, and marketing funded and developed solely by this unincorporated group of business owners, working together to promote Downtown Camas and increase community engagement.

More information will be available on the merchant Facebook page Explore Camas Passport beginning May 28, 2024. This page will feature the VIP discounts available to participants once they have achieved 20 stamps and will announce the Grand Prize Winner.

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Daily Paper Coffee Roasters to Open This Summer Near Lacamas Lake

The team at Daily Paper Coffee Roasters answered several Lacamas Magazine questions about their new business.

When is Daily Paper Coffee Roasters opening?

The opening date is yet to be announced, we ask that the community follow us on our social media platforms for when we announce our official grand opening date. We hope to launch July/August. 

https://www.instagram.com/dailypapercoffee?igsh=ZDZ3YWNlYzE2ZW53

https://www.facebook.com/profile.php?id=61556164376313&mibextid=LQQJ4d

What is your business all about?

Daily Paper is all about catering to the community and being a hub for good coffee that’s local. Roasting on site and offering a unique selection of pastries that are baked not even 200 feet from the shop at Camas Market. 

Why did you decide to open at this location? 

Address: 3016 NE Everett St Camas WA 98607

This is something that the community has been eagerly anticipating, especially so near to the lake. We have so many hikers, teachers, daily commuters and students on their way through the area that we know this will be a great place for them to stop by. 

Who is running the new shop?

The owner of the shop is Ben Mikhalets, son to the owners of Camas Market & Bakery. He’s been in the coffee industry for 9 years and a roaster for the last 5 years. He graduated from Camas High School and currently lives in Camas. 

What do you want Daily Paper Coffee to be known for? 

Our goal for this shop is to be that place where people can stop by for a quality cup of coffee. We see it as someone’s mid day pick me up or the stop you make while walking the dog through the park. The people of Camas know what local is and they are an incredibly supportive bunch. We know because we’ve felt their support in the Camas Farmers market for the last decade and their support of the opening of Camas Market & Bakery.

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