Association Benefits Corporation

If you’re in business with a partner or partners, what happens if one of you dies, becomes disabled, departs the business or there is a dissolution?

Without a buy-sell agreement in place, the remaining partner could be left in business with a surviving spouse, an unwanted third party who doesn’t know the business, or be forced to sell when he or she is unable to come up with the money to buy out a departing partner, says Douglas Sockman, CFP, ChFC, CLU, a financial adviser with Skylight Financial Group.

 If you don’t have a buy-sell agreement in place, you need to consider getting one,” says Sockman. “And if you have one in place but it hasn’t been reviewed in recent years, or you haven’t considered how to fund the agreement, that needs to be addressed as well.”

Smart Business spoke with Sockman about how to create a buy-sell agreement, what areas should be addressed and how to fund it to help ensure you can follow through on its terms without bankrupting the business.  Read the full article in Smart Business.

Employee Handbooks: Who Needs Them?

 A well-written handbook provides a cornerstone for positive employer-employee communication, and can be a great tool to ensure that each employee receives the same information, in clear language, about your company's policies and expectations. A handbook may also offer valuable legal protection if an employee or former employee challenges you in court.

It is important to avoid creating an employment contract with employees, which is a common mistake employers can make when writing their handbook. Whether you write your handbook yourself, or hire someone else to write it for you, you should always have the final draft reviewed by an employment attorney before distributing it to employees.  It is better to know before a problem arises than after if your policies, procedures or practices are not in compliance or will not hold up in a court of law.

Finally, consider your handbook to be an evolving document and revisit it once a year to keep up with legal changes as well as changes within your company.  

Employee Handbooks are not required by law. However they are an effective way to communicate workplace rules and policies to employees. Even if you are a small employer an employee handbook or employee handout (for very small companies) can be a good idea.

For a limited time we will be offering a discount on handbook reviews and handbook creations.  You will get 10% off our hourly rate on your company handbook if you contact us before June 30, 2011.

About  All Things HR, LLC

 Since 2006 we have been providing the Greater Puget Sound Area with Out-Sourced Human Resources.  Our team of HR Professionals have over 50 years of combined experience in Human Resources. We work with our clients to give them the personalized HR experience that their company needs.

From quick questions to full time on-site Human Resources let All Things HR, LLC take the hassle out of human resources for you.