Operating a franchised business can be a profitable venture. Likewise, it can be a recipe for disaster. The distinguishing factors for success include how well an individual researches the franchise and his dedication to the business.

Asset-based lending was once the black sheep of financing. It was a last resort for companies and often signaled their demise. However, asset-based lending has shed its bad reputation in recent years, thanks to both the evolving sophistication of asset-based lenders ("ABLs") and the recession's blow to businesses everywhere.

Recently, an estate planning failure of epic proportions made national headlines. Roman Blum, a Holocaust survivor and successful real estate developer, died without a will and no legal heirs. This scenario happens from time to time, but there is a twist to this story: Mr. Blum left behind an estate worth $40 million dollars. At the time of his death, he was divorced with no children and no known relatives.

Small businesses are the bread and butter of America's economy. There are nearly 30 million small businesses in the U.S., and they make up a huge market share of the country's employers. That being said, though, the fact remains that (according to data provided by the Small Business Administration) about one-third of smaller companies don't make it past their first decade. 

Last week, general information was provided regarding Kentucky's living will form. Let's take a look at some more information about the document.

Terri Schiavo. Everyone knows the name and most remember the sad circumstances surrounding her death. Terri's parents and her husband fought passionately over whether Terri, who suffered brain damage and was in a persistent vegetative state, should live by artificial means or die naturally. The feud played out in the national news and in court until Terri's husband won the right to have Terri's feeding tube withdrawn. Terri died thirteen days after its removal.

I think it was some high school teacher of mine that used to say, "Failing to plan is planning to fail." Of course, back then, those words fell on the deaf ears of a teenager. Only now, after many years as a corporate attorney, have I found myself repeating the statement myself to clients. Starting a business is not a "fly by the seat of your pants" venture. That is, at least if the business is intended to be a successful one. There are some common steps that every entrepreneur must take to get a business up and running. While not fully inclusive, the following checklist is a good place to start.

Many of our Kentucky readers who own a business and have kids have likely considered what will happen to a business when it's time to retire. Do you want to pass your business onto your child? Do you want to sell outside of the family? Every situation is unique, which is why people thinking about business succession planning should consider several factors before arriving at a decision. 

Making the leap from leasing to buying an office building can be daunting for business owners. After all, enduring the risks that come with owning a business is hard enough; venturing into the commercial real estate market can present a whole new set of hazards. However, the purchase of your own space can be highly profitable and advantageous.

You may think that your Last Testament and Will (herein "will") clearly and thoroughly identifies all of your assets. But, it is very likely something is missing. This is not necessarily your fault because these items are of a new, unique nature and have not been considered "property" until very recently. So, what is it you are overlooking? Your online accounts.