Do Single Member LLCs Provide Asset Protection?
A limited liability company is a very popular business form that combines some of the best features of a corporation and a partnership. Like a partnership, an LLC is taxed through its individual members. Like a corporation, it provides limited liability to its members. In most situations, the personal assets of LLC members cannot...
Do Single Member LLCs Provide Asset Protection? Continue reading…What Your Loved Ones Absolutely Need to Know About Your Estate Plan
The conversation about a person’s last wishes can be an awkward one for both the individual who is the topic of conversation and his or her loved ones. The end of someone’s life is not a topic anyone looks forward to discussing. It is, however, an important conversation that must be had so that...
What Your Loved Ones Absolutely Need to Know About Your Estate Plan Continue reading…How to Negotiate a Commercial Real Estate Lease
There are number of considerations for business owners involved in negotiating a commercial lease, not the least of which is the fact that the main objective of landlords is to maximize profits. By understanding the following fundamental concepts, it is possible to make a good deal.
Market Conditions
First, understanding the market conditions...
How to Negotiate a Commercial Real Estate Lease Continue reading…Legal Concerns When Doing Business Online
We live in a digital world and if you are not doing business online you could be missing out on the profits and other benefits of this marketplace. If you want to expand your business horizons using the internet, you should be aware of the legal implications that may come along with the benefits. ...
Legal Concerns When Doing Business Online Continue reading…Should I Transfer My Home to My Children?
Most people are aware that probate should be avoided if at all possible. It is an expensive, time-consuming process that exposes your family’s private matters to public scrutiny via the judicial system. It sounds simple enough to just gift your property to your children while you are still alive, so it is not subject...
Should I Transfer My Home to My Children? Continue reading…Legal Concerns for Businesses Engaged in Social Networking
Social media is a phenomenon and in this day and age, it is rare that an individual, organization or business does not utilize it. The use of websites like Facebook, Twitter and Linkedin can be of great benefit to your business and can assist in advertising, marketing and branding. But, it is important to...
Legal Concerns for Businesses Engaged in Social Networking Continue reading…Role of the Successor Trustee
When creating a trust, it is common practice that the person doing the estate planning will name themselves as trustee and will appoint a successor trustee to handle matters once they pass on. If you have been named successor trustee for a person that has died, it is important that you hire a wills,...
Role of the Successor Trustee Continue reading…What is a mechanic’s lien?
A mechanic's lien is not just for mechanics. It is a legal tool used to protect workers and suppliers who contribute the labor and materials used to improve a property, real or personal. Workers and suppliers can file a mechanic's lien if they do not get paid and may be able to force the...
What is a mechanic’s lien? Continue reading…What happens if you are bequeathed a car that no longer exists? The ABCs of Ademption
If you’re involved in settling a loved one’s estate, you may come across the curious word “ademption”. Ademption describes what happens when something designated in a will no longer exists. Say, for example, your uncle dies and leaves for you in his will an old-school Harley Davidson motorcycle. However, if your uncle crashed the...
What happens if you are bequeathed a car that no longer exists? The ABCs of Ademption Continue reading…How’s your Lawyer’s Math?
Perhaps math isn’t every lawyer’s strong suit; although some lawyers prefer to stay away from fractions and decimals, it doesn’t mean they aren’t able to do math when needed to help their clients. When it comes to businesses, math is intertwined in so many issues from basic day-to-day operations to complex corporate mergers and acquisitions. ...
How’s your Lawyer’s Math? Continue reading…Glossary of Estate Planning Terms
Will - a written document specifying a person’s wishes concerning his or her property distribution upon his or her death.
In order to be enforced by a court of law, a will must be signed in accordance with the applicable wills act.
Testator/Testatrix - the person who signs the will.
Heirs - beneficiaries of an estate.
Executor/Executrix -...
Glossary of Estate Planning Terms Continue reading…How Title Insurance Protects Homebuyers
Buying a home is the single largest investment that many individuals will make which makes it essential for potential homeowners to protect their interests. In particular, it is crucial to ensure that the seller can transfer free and clear ownership of the property by obtaining title insurance.
In short, title insurance protects both...
How Title Insurance Protects Homebuyers Continue reading…