The Parol Evidence Rule & How it Affects Your Contract
One of the purposes behind memorializing an agreement in a written document is to ensure that the parties to the contract do not recant what they originally agreed upon. Often, parties may dispute contractual terms if contracts are not working out in their favor or are resulting in negative or unanticipated consequences. When a document...
The Parol Evidence Rule & How it Affects Your Contract Continue reading…An Overview of Foundational Corporate Documents
There are a number of steps involved in forming a corporation from selecting a name, obtaining the necessary licenses and permits, paying certain fees, and filing foundational documents with the appropriate state agency. While an attorney can help prepare and file the required papers, the owners, officer and directors should have a...
An Overview of Foundational Corporate Documents Continue reading…Capacity to Contract – Minors, The Mentally Disabled & The Intoxicated
The value and success of a business often rests on the ability of the principals involved to make and enforce contracts with third-parties. However, if the person who entered into a particular agreement did not have the “capacity to contract” in the first place, then those contracts may be “voidable.” A contract is “voidable”...
Capacity to Contract – Minors, The Mentally Disabled & The Intoxicated Continue reading…Use of Non-Disclosure Agreements
As a small business owner, it is essential to protect sensitive information that is often referred to as trade secrets. While some well known examples of trade secrets include the formula for Coca-Cola and Google's algorithms, any business information such as practices and techniques, processes and procedures, needs...
Use of Non-Disclosure Agreements Continue reading…Refusing a Bequest
Most people develop an estate plan as a way to transfer wealth, property and their legacies on to loved ones upon their passing. This transfer, however, isn’t always as seamless as one may assume, even with all of the correct documents in place. What happens if your eldest son doesn’t want the family vacation...
Refusing a Bequest Continue reading…Common Types of Will Contests
The most basic estate planning tool is a will which establishes how an individual's property will be distributed and names beneficiaries to receive those assets. Unfortunately, there are circumstances when disputes arise among surviving family members that can lead to a will contest. This is a court proceeding in which the validity of...
Common Types of Will Contests Continue reading…The Benefits of Incorporating in Safe Haven States
Many business owners believe it's best to incorporate in their home state, but there are often business and tax advantages available in other states. In particular, Delaware and Nevada are attractive to those who are looking to form a corporation. These so-called corporate haven states are considered to be business friendly.
The State...
The Benefits of Incorporating in Safe Haven States Continue reading…What is an Estate Tax?
While the terms "estate tax" and "inheritance tax" are often used interchangeably, they are not synonymous. Let's try to clarify the difference.
Estate Tax
Estate tax is based on the net value of the deceased owner's property. An estate tax is applied to these assets when they are transferred to the beneficiary. It is important to...
What is an Estate Tax? Continue reading…What Does “Goodwill” Mean When Buying a Business?
Goodwill is an asset that is an intangible part of a business being purchased. In spite of its intangibility, goodwill may be worth more than concrete assets, such as property, buildings, machinery or inventory. Goodwill is the essence of the company's value to its customers, clients, and employees and, as such, is invaluable to...
What Does “Goodwill” Mean When Buying a Business? Continue reading…Do I need an attorney if I am buying a home?
Buying a home can be an exciting experience, but the process can be complicated. While some homebuyers may think hiring an attorney will be too expensive, not having proper legal representation can be even more costly. Although real estate agents typically bring buyers and sellers together, a highly skilled attorney can perform critical...
Responsibilities and Obligations of the Executor/ Administrator
When a person dies with a will in place, an executor is named as the responsible individual for winding down the decedent's affairs. In situations in which a will has not been prepared, the probate court will appoint an administrator. Whether you have been named as an executor or administrator, the role comes...
Responsibilities and Obligations of the Executor/ Administrator Continue reading…Why Your Business Needs an Email Policy
In the contemporary workplace, email is an essential and efficient form of communication. Whether it's used internally among staff members, or for exchanges with vendors and customers, email is a necessary business tool. At the same time, misuse of this technology can expose an organization to legal and reputational risks as well as security...
Why Your Business Needs an Email Policy Continue reading…