Time for Spring Cleaning – Law Firm Style

Spring has sprung so you know what that means – it’s time to Spring Clean, and no I don’t mean your house.   

Now that winter is done (hopefully there won’t be anymore snow days), you should take a look at refreshing the office and dusting off those cobwebs, whether it be your home office or physical office.  Here are some things you should consider when “spring cleaning for the office”.

1. Review Employee Agreements and Handbook: There are always changes that will affect your current Employment Agreements, and in turn, could affect your Handbook.  Conducting a review of these documents every few months can ensure that your agreement is almost bullet proof.

2. Corporate Minute Book: Every year, corporations must conduct meetings, and sign annual resolutions.  This is also in connection with financial year ends and ensuring that your accountant is on top of the Financial Statements.  A review of your minute book and your corporate structure should be done to ensure you are compliant, and make sure that any changes in the corporation is properly reflected in the minute book. 

3. Accounts Receivables: Was winter slow for your company?  Did cash flow slow down?  Review your accounts receivables, there may be a client that you didn’t realize missed paying an invoice.  Remember Andriessen & Associates’ 30-60-90 sue™. 

4. Estate Planning: If you own shares in a company, you will want to make sure that those corporate assets are carved out from your Personal Will.  In Ontario, you can still make a Secondary Will for corporate assets, which could make for probating and administering your Personal Will less expensive. 

If you review the above every so often, you should be in great shape for the unexpected.  We all hope for smooth sailing, especially when we really are pushing for that nice spring weather for our gardens, but some things you just can’t prevent.  Having good precedents and a regular review process should keep you from those wintery storms. 

Christine Allan, Law Clerk

callan@andriessen.ca