small business legal documents

5 Legal Documents Every Small Business Needs in Arkansas

Professionally drafted legal documents can protect your small business from liability and ensure that you have the greatest shot at entrepreneurial success in Arkansas.

If you plan to launch a successful business in Arkansas, you should begin by surrounding yourself with professionals who can lend their talents and lay a promising foundation for your venture. An experienced attorney who can create small business legal documents is one of these experts you will want in your corner. The following five documents can build the credibility necessary for promising business relationships and also eliminate the worries that keep many entrepreneurs awake at night.

last will and testament attorney

What to Look for in a Last Will and Testament Attorney

A professionally drafted last will and testament is essential if you want your final wishes to be followed to the letter. Finding an experienced attorney who understands Arkansas estate planning laws and regulations is the first step toward deciding how you will be remembered.

It is invaluable to have an experienced last will and testament attorney at your side when it comes time to decide how your possessions and assets will be distributed after you pass away. This is particularly true in Arkansas, where a proper understanding of estate planning law can mean the difference between your will being honored and a probate court throwing it out in favor of the state’s intestacy law. Even if you do not have many assets left in your name when your will comes into effect, there are many legal formalities that need to be followed. Ignoring even one of these requirements can result in your will being deemed invalid.

Waiting to collect debt from your clients or customers can have a bigger impact on your business than you make think.

Waiting Too Long To Collect Debt Can Hurt Your Business

Waiting to collect debt not only delays any potential payment, it also adds additional hurdles to your debt collection process.

As a business ages and grows, managing accounts receivables with detailed debt collection practices  becomes essential to its success. Uncollected debt can pile up before you know it, putting a serious financial strain on your business’s ability to operate. Without effective debt collection practices or if you find yourself waiting to collect debt, you run the risk of putting your business in real jeopardy.

What New Business Owners Need To Know To Collect Debt

New business debt collection may be the last thing on your mind as you juggle all the different moving parts the come with starting a business. But it can be a deciding factor if your business is to survive and thrive.

If you are in the process of starting a new business, debt collection on past due accounts is likely not even on your radar yet. However, establishing a process on how to collect debt is a crucial component of any business – no matter what the age. Here are a few of the myths that new (and not so new) business owners should dispel when it comes to new business debt collection.