Valentine’s Day should not just be a time to buy roses; it’s also a time to show your family how much you care for them. Discover three ways you can financially & medically protect your family this Valentine’s Day.
Protect Your Assets
The best way to protect your family this Valentine’s Day is to take the right steps to protect your assets. Problems stemming from a job or business can backfire and endanger your family’s financial welfare.
Consider that your assets are not just your current livelihood, but your family’s future and your ability to care for both your kids and your elderly loved ones. There are a number of basic steps you can take to ensure your assets are protected:
- Start planning now; Don’t wait for a liability claim
- Don’t forego insurance
- Set up trusts for personal assets
- Keep your business assets separate
- Avoid gifts — these can be seen as fraud
- Be careful about offshore funds
- Don’t depend on bankruptcy protections
- Keep it simple
- Be transparent in all your dealings
Here’s the bottom line: insurance is your single best protection against unforeseen emergencies. You can take all the right steps to protect your assets, and still not see a major lawsuit or catastrophe coming. The right insurance policy can be a vital protection when the unthinkable happens.
There’s an old saying that insurance is the one service you pay for that you hope you never have to use, and it’s true. But the time does come when you need that service, and another old adage is very true as well. It’s better to have it and not need it, than it is to need it and not have it!
If you aren’t sure what kind of coverage you need, speak to a business advisor or attorney. These professionals have a range of experience and can help you protect your family this Valentine’s Day.
Carry Workers’ Comp Insurance
It may seem odd, the idea that carrying workers’ comp insurance can protect your family, but it’s true. Without adequate workers’ comp, you could put yourself at risk for a lawsuit, should any of your employees get injured in the course of work. In addition, you could face severe fines and penalties, including jail time.
Workers’ compensation fraud is nothing to take lightly. Be sure that you cover all of your employees against the eventuality of injury, and understand that you may need separate coverage for your business and other employees.
For example, if you have a business out of your home — say, a power washing business with ten employees — you’ll need workers’ comp to cover those employees. If, however, you privately employ a gardener or landscaper for your home, your business workers’ comp doesn’t cover them. You’ll need a separate policy.
Boston Workers’ Compensation Attorneys
Workers’ compensation attorneys often help employees who are suffering from difficulty collecting after a work-related injury. In order to protect your family and show them how much you care this Valentine’s Day, make sure that you do all you can to engage in fair dealings with your employees.
If you were injured, and unsure about which workers compensation laws apply, contact our experienced Workers’ comp attorneys today.
Meta: Discover three ways you can protect your family this Valentine’s Day, including workers’ comp insurance, asset protection and personal coverage.