Wednesday, December 28, 2005

Tis the Time For New Year's Resolutions

Category: Elder Law, Estate Planning, Business Law and Planning, Tax Law and Planning, Financial Planning

Ah, the presents have been opened, you have been eating cookies and leftovers for days, and the commute is remarkably smooth this week - it must be the week before New Years. With each New Year comes New Year's Resolutions - those things you are absolutely and positively going to do in 2006 (or meant to do in 2005 or 2004 - lets be honest). Some thoughts to consider for 2006's list:


  • Don't have a Will, Power of Attorney or Living Will? Get one. Search through prior posts here for some consequences of failing to plan. See the article Make a will: Your #1 family New Year's resolution for more reasons to plan.
  • Have a Will? Haven't looked at it in 5 years or more? Get it out, dust it off, and read it. Does it say what want? Do you understand it? If not, call an attorney and have it reviewed.
  • Own a business? Get a business succession plan in place. Without a business succession plan, your family is likely to receive pennies on the dollar for the value of your business at your death.
  • Got insurance? Review your insurance - health, disability, life, long-term care, property. Are you really covered for your needs? Do you understand your coverage? Have you had your insurance reviewed by a professional in the past 3 years or so? Insurance can be a large annual outlay - you should be sure you are getting the best return for your investment. Most professional insurance agents will give you a free review.
  • Planning to retire? How are you financing your plan? A meeting with a financial planner may give you ideas as to how good of a job you are doing getting to where you want to be. Again, the meeting is likely to be free.
  • Kids going to college? Do you have a plan beyond hoping that there will be enough equity in your house in interest rates stay low? Look into a 529 Plan (try savingforcollege.com for more information) . See what a financial planner has to say.
  • Have an accountant? Can him or her and make a meeting to discuss your tax profile and ideas to reduce taxes - note that dropping a bag off at the office on April 8 is not a meeting. Your accountant is an expert,particularly with income taxes, those most likely to effect you. Why not take the time to reduce the governments share of your earnings? Call TODAY for last minute year end planning items (see Happy new year! Now, call your accountant )
  • Don't have an accountant? Consider whether a tax professional could help you pay less. You still have time before December 31 to change your tax profile for 2005. (See 5 Year-End Tax Tips and Year-End Tax Tips from ABC News)
  • Have seniors in your family? Consider how they are doing and ways you can help. Would Medicare D save them any money? Go the AARP website for tools to find out the answers. Could they use help with driving, cooking, housekeeping? Consider a service (and speak to your accountant about the tax deductions). Are they safe and secure in their homes? If not, consider alternates within the family and in the community.

None of these thoughts are sexy or exciting, but they do fall under the heading of things a responsible adult should be doing, and items high on this years New Years Resolutions (otherwise known as The Great To Do List).

Friday, December 16, 2005

Business Law and Business Planning Blog References

Category: Business Law and Planning

Some frequently updated Business Law and Business Planning Blogs:

Blawg Republic - Business Law News: An aggregator of recent postings from many excellent business law blogs.

Findlaw Legal News - Business: Agregator of recent news articles (AP, Reteurs, etc.) focusing on business law topics.

Topix.Net - Law News - Business Law: Business Law news continually updated from thousands of sources around the net.

Thursday, December 01, 2005

How TV's CSI got computer forensics wrong

Category: Business Law and Planning, Miscellaneous Musings

Courtesy of the Date Forensics firm of PG Lewis & Associates, LLC:

"Good morning. Below is an amusing and accurate observation which points out that the hit TV show CSI did not follow forensically sound guidelines while investigating a hard drive. The brief piece also describes the procedural error’s implications in court.

How CSI got computer forensics wrong
OUT-LAW News, 17/11/2005

A team of computer forensic investigators has pointed out that a character in a recent episode of hit TV show CSI: Crime Scene Investigation failed to follow a basic rule of looking for evidence: don't switch on the computer.

Experts at CY4OR, based in Bury, England, praised CSI for bringing computer forensics to the forefront of public awareness; but they say it does little to reflect the correct and essential procedures that must be put in place when there is suspicion of criminal activity.

In the offending episode, chemistry boffin Greg Sanders (played by Eric Szmanda) walks on to a crime scene, turns on a nearby computer and begins accessing email. Bad move, says Joel Tobias, Managing Director of CY4OR. This is exactly what budding investigators must not do, he warns.

"Not only could this potentially damage evidence, any incriminating data that was uncovered would undoubtedly be thrown out of a court of law as the proper evidential procedures would not have been put in place," he said. "The evidential continuity would have been compromised and a criminal case could collapse."

The temptation for IT departments to become digital detectives and deal with a breach of security in house is understandable, says Tobias, as companies worry about investor confidence, company reputation and business in general. It can also be fun. However, there are a few basic steps to follow, to minimise exposure and resolve the situation as quickly as possible.

CY4OR's guide to crime scene investigations
1. Treat the matter seriously. Tell your legal team not your colleagues about your suspicions.

2. Do not inform your IT department. Instead, hire computer forensic experts.

Professional analysts from reputable companies adhere to ACPO (Association of Chief Police Officer) guidelines, can identify digital evidence quickly and ensure that it will stand up in court by following the correct procedures. They can even image your computers at night, to avoid inevitable discussions by the water cooler.

The principal of forensics which says that every contact leaves a trace cannot be emphasised enough, says Tobias. "There is a time and a place to leave it to the experts, and this is it," he warned."