Dear Clients & Friends,
As summer settles in, things start to feel a little different—longer days, lighter schedules, and (hopefully) a bit more breathing room in between everything else we’re juggling.
I’ve been thinking a lot lately about family, responsibility, and what it really means to “leave something behind.”
Lately, my reflections have been centered on gratitude. It is a gift to be in this season of life, healthy and present, and I am reminded every day that my ability to serve you comes from a place far greater than myself. To God be all the glory for the health I enjoy today and the family I am blessed to provide for. It is because of that gratitude that I feel so strongly about helpings others protect what they have built.
After going through the process of helping settle my dad’s estate, I’ve seen firsthand that even when someone has the best intentions, things don’t always unfold the way they imagined. Sometimes what we think of as a gift… can feel like a responsibility to the people receiving it.
A home is a perfect example. It sounds like a blessing to inherit a house. But in reality, it often comes with questions that aren’t so simple:
- Do we keep it or sell it?
- What if there are multiple siblings or a blended family involved?
- If we have parents or step-parents in the home, what is the best option for them?
These are not easy conversations. But they are important ones, especially when it comes to your business.
Your Business may be your dream.
But is it theirs?
If your children or family members are not interested in taking over the business, do you have a plan? Leaving them an interest in a company they don’t want to run can quickly become a burden rather than a blessing.
This is where a solid Operating Agreement becomes one of the most important tools you have. It allows you to:
- Clearly define succession: Know exactly who takes over and how.
- Avoid family disputes: Lay out the rules so your loved ones don’t have to argue over them.
- Bypass Probate Court: For many estates, a properly drafted agreement allows your business ownership to transfer immediately without the slow, expensive public probate process.
This planning applies to your property, too. If you own rental property or a vacation home, forming an LLC and conveying the title can help ensure those assets are managed according to your wishes, even if your heirs aren’t interested in being landlords.
A Mid-Summer Maintenance Check
We stay on top of our health with annual physicals and our cars with insurance, but we don’t always apply that same “due diligence” to our businesses.
I recently audited my own business and found I was “bleeding” money through subscriptions I wasn’t optimizing. I spent time reviewing:
- Contracts & Vendor Agreements: Are they still in your best interest?
- Subscriptions & Services: Are you actually using what you’re paying for?
- Team Incentives: Summer is a great time to recognize employees or contractors with a small gift or a team lunch.
We even took our own advice and held a family business retreat in Portland, Maine! We held our annual meeting, documented the minutes, and reviewed our growth goals—all while enjoying some much-needed bonding time. It’s a great way to stay on the same page (and it’s tax-deductible!).
A Quick Trademark Note
If you have a name or brand you care about, the best protection is still filing as early as possible. We are seeing more and more businesses invest heavily in names only to find out they belong to someone else.
- Check your maintenance deadlines: Are your 5-year or 10-year renewals coming up?
- Deadlines are shorter: Remember, USPTO response periods for office actions are now 3 months.
If you aren’t sure where your brand stands, you can schedule a trademark consultation here.
Something I’ve been thinking about…
As a two-time cancer survivor, I don’t take “what-ifs” lightly. Every day I get to spend at my son’s baseball games or working with my clients is a blessing. Planning isn’t just about passing down assets. It’s about making sure the “what-ifs” don’t become burdens for the people you love.
Let’s make this the summer you get your “backend” sorted so you can enjoy the season with total peace of mind.
📩 Contact us: info@galvisandcompany.com
📅 Schedule: Firm Calendar
May God bless you! Wishing you a smooth, thoughtful, and well-balanced summer.
With gratitude,
Lorraine
Founder, Galvis & Co.®
Trademark & Business Counsel
Serving Business Clients in NY & CT | Trademark Clients Nationwide
