• Preparing for Adversity with Jim Lanter

  • Aug 23 2022
  • Length: 45 mins
  • Podcast

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Preparing for Adversity with Jim Lanter

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  • Summary

  • James “Jim” Lanter is an attorney-at-law. He serves as an advocate, advisor, and counselor for small to midsize businesses. With over 35 years of experience, Jim has handled matters concerning commercial litigation, trying arbitrations, and lawsuits from a state and federal level. Jim helps business owners protect their assets and companies, especially in preparation for events that may ignite conflicts in ownership and management.    Jim joins me today to discuss how business owners should prepare when something goes wrong with their company. He explains the importance of legally setting up your company and why multi-partner businesses are more complex than solo businesses regarding deaths. He shares his thoughts on life insurance, disability provisions, and buy-sell agreements. Jim also describes the need for your data to be protected, especially from competitors.   "The biggest risk is not setting up your company legally to protect your personal assets." - Jim Lanter   This week on Priorities Lifestyle:   The types of documents to ask your lawyers to prepareWhat made Jim want to become a lawyerWhat Jim likes about being a lawyerRisks of businesses owned by one person vs. businesses owned by multiple entitiesWhat happens to the company and its clients if a solo business owner diesJim's thoughts on life insuranceGetting business partners to agree on a path if something goes wrongSettling potential business arguments regarding disability provisionsWhat makes an excellent buy-sell agreementPiercing the corporate veilThe different ways to transition your businessProtecting your data from competitors   Our Favorite Quotes:   "Like everything else, best start from the beginning because, by the time dad is 65 years old, life insurance is going to be hard to get." - Jim Lanter"The easiest way to protect my family was to have life insurance." - Rob Schulz"80%-90% of the buy-sell agreements are not funded with any provisions like life insurance or disability insurance." - Rob Schulz   Connect with Jim Lanter:   Lanter LawJim Lanter on LinkedInEmail: jim.lanter@lanter-law.comPhone: 817.453. 4800   About Rob Schulz and P&L: Priorities & Lifestyle Podcast   The P&L: Priorities & Lifestyle Podcast is a show for business owners. In each episode, host and financial planner Rob Schulz sits down with business owners and the professionals that serve them to talk about business building, life, money — and the all-important transition out of the business, which inevitably happens to everyone who has ever founded a company.    Email Rob at rob.schulz@schulzwealth.com with questions, comments, and to schedule a one-on-one conversation.    Follow Rob on LinkedIn Follow Schulz Wealth on LinkedIn Follow Schulz Wealth on Facebook   Order Rob’s book, Thoughts on Things Financial, on Amazon | Barnes & Noble | Kobo | iBooks | Kindle   Subscribe here:   Apple Podcast  Spotify Google Podcasts Stitcher Audible    And, if you enjoy the show, please leave a review to help others discover the podcast.
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