Planning is Key

Over the course of growing my business, I’ve continually been looking ahead and planning my exit strategy. The day will come when my drive eventually winds down, or I become outdated by the next generation. I need to have a plan in place for when that time comes.

Nowadays, it’s not just my exit strategy I’m planning for. My wife and I have a baby on the way. As the due date gets closer, I find myself a bit more distracted than usual with the things at home. This requires me to be extra careful with my work-life balance. Life will happen and sometimes impact how involved you are in the day-to-day operations of your business. It is important to be able to address how your business will operate without you always being there. Planning is key.

Amidst getting ready for the baby and planning for my time away from the business when he arrives, I stumbled upon some interesting information. I learned that nowadays fathers qualify for Paid Family Leave (PFL) through the state of California. The California Family Rights Act (CFRA) entitles new fathers to 12 weeks of paternity leave to help their partner recover from childbirth and bond with their new baby. You must have worked at your employer for at least one year and 1,250 hours for this to apply.

To be eligible for PFL benefit payments, you must have:

• Welcomed a new child into the family in the past 12 months through birth.

• Paid into State Disability Insurance (noted as “CASDI” on most paystubs) in the past 5 to 18 months.

• Not taken the maximum eight weeks of PFL in the past 12 months.

• Citizenship and immigration status do not affect eligibility.

This bit of information definitely comes in handy when planning to take time off for the arrival of a baby.

~Sincerely, Sal, 2022 CLCA OC Chapter President