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…Entrepreneurial Immigrants: Building the American Dream
The American Dream of starting your own business and pulling yourself up by your bootstraps is alive and well. In fact, it is the creation and growth of small businesses that is instrumental in helping America recover from the Great Recession. What many do not realize is that a significant percentage of new business...
Entrepreneurial Immigrants: Building the American Dream Continue reading…How to Leave Gifts to Step-Children
Today, blended families have become increasingly common, and many individuals have step-children, that is, children of a spouse or partner. In situations where step-children have not been legally adopted, however, they do not have a legal right to an inheritance from a step-parent. For those who wish to leave step-children part of their estate ,...
How to Leave Gifts to Step-Children Continue reading…Federal Trademark Registration
There are many advantages to registering a mark with the United States Patent and Trademark Office (USPTO). A licensed trademark can provide “constructive notice” to customers on a national basis. Moreover, if there is a lawsuit, a valid registration can be used to substantiate or prove ownership of the mark. A trademark is used to...
Federal Trademark Registration Continue reading…Obtaining Venture Capital
It is no secret that it takes money to make money. Not all business owners have the money they need to get their ventures off the ground and therefore many require financing.
Venture capital is a type of financing that is different from the financial support a business would customarily obtain from other lenders. Venture...
Obtaining Venture Capital Continue reading…Top Five Estate Planning Mistakes
In spite of the vast amount of financial information that is currently available in the media and via the internet, many people either do not understand estate planning or underestimate its importance. Here's a look at the top five estate planning mistakes that need to be avoided.
1. Not Having an Estate Plan
Top Five Estate Planning Mistakes Continue reading…Who Owns A Business’s Customer List?
Many businesses have customer lists that they consider their own private property. It is common, however, for sales representatives and other employees to regard customer lists as theirs too, something they can take to a new employer. Employment agreements, confidentiality agreements, non-competes, and non-solicitation agreements can all be used to eliminate confusion over whether...
Who Owns A Business’s Customer List? Continue reading…