In times of growth small business owners have often had to determine whether they should outsource work to independent contractors or hire additional part time or full time employees.
It's not uncommon for friends or business partners to get together and purchase a piece of investment property or even a vacation home with the idea of establishing a flow of rental income while also enjoying the appreciating value of the asset and deductibility of certain expenses. Although the merits of that kind of investment have become more problematic as a result of the deep recession, many people are still making these purchases by pooling their resources, intellectual capital, and their abilities.
I often have friends ask me, "Can't I just go to Legal Zoom and do a Will?" or "How much does it cost for a Will or a Trust?" Both of these questions reveal the mistaken belief that lawyers sell paper, and that its just a matter of getting the right "template" for the situation and then filling in the blanks. I suppose the thinking is that the better lawyers have better templates, or that more experienced lawyers know how to fill in the blanks more accurately or efficiently. Interesting concept.