New research by Lauren Nicholas at University of Michigan's Institute for Social Research shows that making a living will impacts the end of life care of individuals. This is the first national study involving sample from across the US.
Tuesday, April 29, 2014
Making A Living Will Impacts End Of Life Care
New research by Lauren Nicholas at University of Michigan's Institute for Social Research shows that making a living will impacts the end of life care of individuals. This is the first national study involving sample from across the US.
Monday, April 28, 2014
Divorce/Legal Seperation - By The People
BY THE
PEOPLE can help with Uncontested Divorce or Legal Separation. For
couples who can resolve their own asset and debt division and/or child
issues, BY THE PEOPLE can prepare all of the necessary documents for you
to obtain your divorce. We also do all of the filing and procedural
work throughout the process.
Since
we are a local company and file divorces every day, we can provide you
with up to date information about filing fees and the local court
systems. In California the minium time period for a divorce is 6 months
from the date of service.
Legal
Separation is the same process for the court and same documents
needed.You will still need to address all of the same issues, the only
difference is the end result. You will still be married, having dealt
with all asset/debt division and child custody, visitation, support, and
if you decide to go forward with a divorce, you will need to start over
from the beginning.
Our fees to prepare all of your divorce or legal separation documents is $599.00 if there are minor children, or $499.00 if there are no minor children. The only other fee you will pay will be the filing fee for the court of $435.00.
Our fee is due up front, and we accept cash, check or credit cards. The
filing fee for the court is not due up front; it is due as soon as you
are ready to file with the court. The paperwork is usually ready to file
within a week of starting the process. The Court only accepts cash,
check or money order for their fees.
When
you are ready to get started with your divorce or legal
separation at BY THE PEOPLE, you may make an appointment or come in as a
walk-in to our office at 1371-C Oliver Road, Fairfield CA. We will have
you fill out a worksheet that will give us the information we need
about you, your spouse and the issues your need to address in your
divorce. Most of our customer find it takes about 30 minutes to complete
the necessary information in our worksheet. You may come in with your
spouse or you may come in on your own to fill out the worksheet and
begin the process. The choice is yours.
For more information, please visit http://bythepeopleca.com/
Sunday, April 27, 2014
Living Trusts/Wills - By The People
Living Trusts
are a way for you to make sure that your estate goes to who you want it
to go to, without having to go through the Delay, Agony and Expense of
Probate.
We can assist with creating Single Living Trust for one person, or Joint Living Trusts for Married Couples.
Our Living Trust Package includes:
- Articles of Trust
- Wills
- Financial Power of Attorney
- CA Advanced Health Care Directive
- HIPAA Release
Our fees are $499.00 for a Single Living Trust or $599.00 for a Joint Living Trust
For more information, please visit http://bythepeopleca.com/
Saturday, April 26, 2014
Incorporation/LLC - By The People
Let By The People help you set up your Corporation or LLC.
We will create your Company Articles, file them with the Secretary of State, and create an Organizational Kit for you, including: Sample Bylaws and Minutes, Seal, Shares, and Misc. Needed Forms.
Our fees are $399.00 plus filing fees:
INC - $115.00 and LLC - $85.00
We will create your Company Articles, file them with the Secretary of State, and create an Organizational Kit for you, including: Sample Bylaws and Minutes, Seal, Shares, and Misc. Needed Forms.
Our fees are $399.00 plus filing fees:
INC - $115.00 and LLC - $85.00
For more information, please visit http://bythepeopleca.com/
Friday, April 25, 2014
Probate - By The People
If you are having to go
through the Probate Process with the court, let BY THE PEOPLE help.
We may be able to assist
you in representing yourself, by preparing the documents needed, filing the
paperwork with the court, setting court dates, arranging for publication, and
many other steps needed to complete the process.
Our fees are 1% of the value of the estate
(up to $3,500.00).
Any fees for the courts, probate referee, publication will be
extra.
Thursday, April 24, 2014
Wills Vs. Trusts: Suze Orman
Finance expert Suze Orman discusses the differences between a will and a trust and why both are important to have.
Wednesday, April 23, 2014
Things to Keep in Mind When Running an LLC Business
Running an LLC business is not a bed of roses. You have to stay
on top of things. Aside from hands-on management, you also have to look
outward into what your customers want. You have to be proactive in the
way your products are designed or formulated. This is the only way
through which you can stay in business. In managing your operations,
keep the following in mind:
- Be committed
An LLC business is bound to fail if its owner is not committed enough to its business goals. This is one of the most common reasons why people with LLC businesses close shop. Successful entrepreneurs are committed to their business goals and have a clear plan on how they can make their goals possible.
- Be frugal
Having your own business is not an excuse to splurge on yourself because you expect a sizeable profit at the end of the month. That is still tentative. Revenues earned by an LLC business should be managed and spent wisely. Be frugal in your spending and limit your allocation only to those matters that are deemed important in running the company.
- Set goals
You cannot simply set-up your LLC business without having a goal in mind. This should be as detailed as how you envision your company to be in the next five years. Or perhaps you could set a target revenue within a reasonable period of time. You can measure your performance based on how near or far you are from achieving your goal. The way you spend your budget will have to depend on what your goals are. When you have a clear goal in mind, you are less likely to splurge your revenues as you earn them. Every expense item or spending requirement should be aligned with your business goals.
- Learn to manage risks
Being in business is risky, not just but everywhere at any time of the year. The only way to survive in the business world is to learn to manage these risks. Identifying and analyzing risks beforehand is a good exercise to help you prepare for these risks. Effective risk management comes with foresight and early preparation. When contingency plans are in place, these risks can become more manageable.
While running an LLC business is not exactly that easy, having the right mindset and being prepared for any eventualities allow business owners to be on their feet so that they can spot opportunities and manage the risks more effectively.
- Be committed
An LLC business is bound to fail if its owner is not committed enough to its business goals. This is one of the most common reasons why people with LLC businesses close shop. Successful entrepreneurs are committed to their business goals and have a clear plan on how they can make their goals possible.
- Be frugal
Having your own business is not an excuse to splurge on yourself because you expect a sizeable profit at the end of the month. That is still tentative. Revenues earned by an LLC business should be managed and spent wisely. Be frugal in your spending and limit your allocation only to those matters that are deemed important in running the company.
- Set goals
You cannot simply set-up your LLC business without having a goal in mind. This should be as detailed as how you envision your company to be in the next five years. Or perhaps you could set a target revenue within a reasonable period of time. You can measure your performance based on how near or far you are from achieving your goal. The way you spend your budget will have to depend on what your goals are. When you have a clear goal in mind, you are less likely to splurge your revenues as you earn them. Every expense item or spending requirement should be aligned with your business goals.
- Learn to manage risks
Being in business is risky, not just but everywhere at any time of the year. The only way to survive in the business world is to learn to manage these risks. Identifying and analyzing risks beforehand is a good exercise to help you prepare for these risks. Effective risk management comes with foresight and early preparation. When contingency plans are in place, these risks can become more manageable.
While running an LLC business is not exactly that easy, having the right mindset and being prepared for any eventualities allow business owners to be on their feet so that they can spot opportunities and manage the risks more effectively.
If you are looking for information on LLC business in Tennessee, click on the link. Or you can visit http://www.ezonlinefiling.com/.
Tuesday, April 22, 2014
Probate Problems
When a person dies, the property that is owned at the time of death goes into a legal process called probate. The probate court is responsible for distributing all of the property in the estate. If the person had a legally valid and complete will then the property distribution is usually straightforward and few problems arise.
Monday, April 21, 2014
Tips on How to Get Your Criminal Record Expunged
You may have tried to forget about that time when you and your
friends had a little too much fun on the spring break of '97 or forced
yourself to believe that "what happens in Vegas stays in Vegas".
Although that breaking and entering incident happened way back when you
were a college sophomore and that you got away with that little Vegas
fiasco with just a month-long community service sanction, these can all
go on your permanent record and can appear in background checks. For
more grave crimes, it can even affect your chances of getting a
reputable job or a loan from a bank.
Therefore, expunging or erasing your criminal records can reap a multitude of benefits other than just clearing up your conscience. It may be a lengthy process and a number of errors may come up but it will definitely be worth it. With that taken into account, here are some tips on how to get your criminal record expunged
Find out if your record can be dropped.
Most felonies and some serious misdemeanors can't be dropped off your permanent record. Offenses against children, sexual and violent crimes can't be erased. It's worth finding out if your criminal act can be expunged in the first place rather than going through all the processes only to find out it was all for nothing.
Give the judge a reason to allow the expungement.
Certain violations, even seemingly minor ones, can result in a loss of someone's rights. For example a person charged with a DUI may have his license revoked. In majority of cases, the offender may have to defend himself in front of a judge, even if it doesn't involve getting a right back. You need to make a good case for yourself to convince the judge because ultimately he decides whether you deserve a clean slate or not.
Show the judge how you can benefit from a clean record.
When convincing a judge, the best defense is to show how much you and others can benefit from the expungement. For example, if you have been stripped of your right to leave the country, explain how you have a family member in need of your attention abroad or something like that. Make sure your reason is convincing while still being truthful.
Begin the process early.
For most cases it can take four months to a year with a lot of waiting in between to clear your record, depending on the state you live in and the severity of the crime. Start by finding yourself a reputable lawyer and working on your paperwork early on to prevent any additional delays.
Be mindful of pretend lawyers and scams.
An attorney is not necessary to file for a record expungement. However, getting legal advice from someone knowledgeable in the whole process is a huge plus in getting your records cleared. Just be smart about the whole thing and be mindful of scammers who falsely guarantee you of a quicker process and certain expungement all for a steep price.
Therefore, expunging or erasing your criminal records can reap a multitude of benefits other than just clearing up your conscience. It may be a lengthy process and a number of errors may come up but it will definitely be worth it. With that taken into account, here are some tips on how to get your criminal record expunged
Find out if your record can be dropped.
Most felonies and some serious misdemeanors can't be dropped off your permanent record. Offenses against children, sexual and violent crimes can't be erased. It's worth finding out if your criminal act can be expunged in the first place rather than going through all the processes only to find out it was all for nothing.
Give the judge a reason to allow the expungement.
Certain violations, even seemingly minor ones, can result in a loss of someone's rights. For example a person charged with a DUI may have his license revoked. In majority of cases, the offender may have to defend himself in front of a judge, even if it doesn't involve getting a right back. You need to make a good case for yourself to convince the judge because ultimately he decides whether you deserve a clean slate or not.
Show the judge how you can benefit from a clean record.
When convincing a judge, the best defense is to show how much you and others can benefit from the expungement. For example, if you have been stripped of your right to leave the country, explain how you have a family member in need of your attention abroad or something like that. Make sure your reason is convincing while still being truthful.
Begin the process early.
For most cases it can take four months to a year with a lot of waiting in between to clear your record, depending on the state you live in and the severity of the crime. Start by finding yourself a reputable lawyer and working on your paperwork early on to prevent any additional delays.
Be mindful of pretend lawyers and scams.
An attorney is not necessary to file for a record expungement. However, getting legal advice from someone knowledgeable in the whole process is a huge plus in getting your records cleared. Just be smart about the whole thing and be mindful of scammers who falsely guarantee you of a quicker process and certain expungement all for a steep price.
Looking for a duilawyer in Virginia Beach? At Swango Law, we aim to provide aggressive DUI defense in Virginia Beach and Surrounding Areas.
Sunday, April 20, 2014
Advance Medical Directive: The Basics
Advance medical directives are legal documents designed to
outline a person's wishes and preferences in regard to medical
treatments, interventions and other health care related issues. Policies
may vary from state to state, but regardless of location, advance
directives should always be included with each individual's personal
medical records.
Advanced directives typically fall into three categories:
When Should a Directive be Created?
You will see an advanced medical directive used for several different situations-such as when someone is having a major surgery, diagnosed with a life-threatening illness or is even becoming a single parent. Advance medical directives are extremely beneficial if an individual is unable to make his or her own medical decisions. Whatever the reason, all advance medical directives should be signed by an attorney and be notarized.
How to Obtain an Advance Medical Directive
Luckily, there are many ways that someone can obtain an advance medical directive. Many companies have booklets available, social workers and nurses usually have them on hand, and hospitals and attorneys also have copies of directives. It is worth the effort to ask for an advance medical directive as it will be invaluable during a medical dilemma.
By having previously documented personal wishes and preferences, the burden of making tough decisions for family's and physicians' is lessened. Not to mention, the patient's autonomy and dignity will more likely be preserved by following their own choices regardless of mental or physical capacity.
Advanced directives typically fall into three categories:
- Do Not Resuscitate Order: This legal document, also known as DNR, is extremely valuable for determining end-of-life issues. A DNR order, however, is not legal until signed by the patient, a witness and a physician. It should also be dated correctly and clearly state whether the patient wants to be resuscitated or not if their heart stops beating.
- Living Will: This written document stipulates what kinds of medical treatment the patient recommends should they become incapacitated. It can be either general or very specific depending on the person and how adamant they are about their end-of-life care issues. The usual items outlined in a living will include: whether they wish to be on life support, receive tube feedings, length of time (if any) that they will stay on breathing machines, the individual that will make decisions on their behalf, etc.
- Durable Power of Attorney: This type of advance directive allows an individual the opportunity to designate someone, or a number of individuals, to act on their behalf for specific affairs. A durable power of attorney, or DPOA, has the ability to make bank transactions, sign social security checks, apply for disability, or even write checks to pay utility bills while an individual is medically incapacitated. Once the document is signed, the DPOA has legal priority even over next of kin.
When Should a Directive be Created?
You will see an advanced medical directive used for several different situations-such as when someone is having a major surgery, diagnosed with a life-threatening illness or is even becoming a single parent. Advance medical directives are extremely beneficial if an individual is unable to make his or her own medical decisions. Whatever the reason, all advance medical directives should be signed by an attorney and be notarized.
How to Obtain an Advance Medical Directive
Luckily, there are many ways that someone can obtain an advance medical directive. Many companies have booklets available, social workers and nurses usually have them on hand, and hospitals and attorneys also have copies of directives. It is worth the effort to ask for an advance medical directive as it will be invaluable during a medical dilemma.
By having previously documented personal wishes and preferences, the burden of making tough decisions for family's and physicians' is lessened. Not to mention, the patient's autonomy and dignity will more likely be preserved by following their own choices regardless of mental or physical capacity.
This article was written by Roger Brent Hatcher, an attorney at Smith, Gilliam, Williams & Miles, a leading Atlanta Law Firm since 1928.
Saturday, April 19, 2014
Business Laws : Forming an LLC
Forming a LLC, or limited liability company, requires contacting the Small Business Administration to find out what type of licenses and registrations are needed to be filed.
Friday, April 18, 2014
What Is An Executor Of An Estate
You can start planning your estate at any time. Typically, though, most people don't begin to draft their Will, or establish a trust to hold property, until the "big" things in life happen -- like getting married, buying a home, having children, or starting a business.
Thursday, April 17, 2014
What Happens During Probate
Probate is the court process that determines whether your will is legally valid. The probate court is also where your estate is officially distributed to your creditors and the beneficiaries under your will. Depending on the value and complexity of your estate, the probate process can take several months .... or it may be eligible for a simplified process.
Wednesday, April 16, 2014
Name Change
Whether you simply want to change your name because you recently got married, divorced, other legal matter, or you just want to change you name for kicks, there are some important legal steps to take.
Monday, April 14, 2014
Annulment Versus Divorce
There are various ground upon which an annulment or a divorce could be granted by a court. The legal consequences could be very important, since an annulment basically erases a marriage, whereas a divorce simply terminates it.
Sunday, April 13, 2014
Saturday, April 12, 2014
How to Become Someone's Power of Attorney
Becoming someone's power of attorney allows a person to make financial or legal decisions for another person if that person cannot make their own decisions.
Friday, April 11, 2014
Estate Planning : Does it Avoid Probate to Have Accounts in Joint Tenancy With Right of Survivorship?
Bank accounts or property in joint tenancy or with right of survivorship avoid probate but also bypass specifications in the will. Learn ways some avoid probate in joint tenancy from an estate planning and probate lawyer in this free video on estate law.
Thursday, April 10, 2014
Grounds For Divorce
We've all heard about "fault" and "no-fault" divorce. While its true that many state laws provide for a variety of fault-based grounds for divorce, such as adultery, cruelty, or abandonment, almost all states also offer some sort of no-fault divorce.
Wednesday, April 9, 2014
Understanding Living Wills
Expressing Wishes in Writing
Many people do not understand the difference between a living will and a final will and testament. While both are very important legal documents, a "Living Will" is completely different form a "Final Will and Testament". A "Final Will and Testament" specifies to whom individuals will leave personal assets, property, valuables, or custody of minor children. A "Living Will" is for use in a health care aspect. Individuals without tangible assets may still wish to enact a "Living Will".
So, what is a "Living Will" anyway?
A living will or advance directive generally directs health care providers whether or not to use heroic treatments or extraordinary measures that would delay death, such as breathing machines (respirators/ventilators), or to stop such treatments if they have been started. Individuals can also specify their views about giving food and water through a tube (artificial nutrition or hydration), as well as the length of time such treatments are to continue.
Who carries out these wishes?
The party responsible for following specified wishes is completely up to the patient. A Health care Power of Attorney is given to the person named to make medical decisions predetermined by the patient. This person is called a "health care agent" or "proxy." The agent or proxy is the voice of the patient and voices only the feelings and thoughts that the patient has expressed. They are to present decisions in an unbiased manner, regardless of their own viewpoints.
Will physicians and staff ignore the patient and go directly to the Power of Attorney or Proxy?
No. Make no mistake, patients' thoughts, feelings, and values take priority over anything else. Health care providers will provide any available information so that patients may make an educated decision, but the final decision rests with the patient and those wishes will be respected. A health care Power of Attorney or Proxy only becomes effective in the event that is physically or mentally unable to make their own choices known.
What happens if there is not a Living Will or Advance Directive in place?
The decisions of health care become the responsibility of next of kin, even if the patient would not want that person to be involved. If the patient does not have proof of their wishes outlined, there is no way for anyone to know what they would have wanted.
The topic of living wills or advanced directives may be one of the most uncomfortable conversations a family ever has, but the only way to ensure that everyone understands and respects each others' wishes is to maintain an open dialog. This discussion will also relieve some of the stress and tension from grieving family members during a difficult time.
Many people do not understand the difference between a living will and a final will and testament. While both are very important legal documents, a "Living Will" is completely different form a "Final Will and Testament". A "Final Will and Testament" specifies to whom individuals will leave personal assets, property, valuables, or custody of minor children. A "Living Will" is for use in a health care aspect. Individuals without tangible assets may still wish to enact a "Living Will".
So, what is a "Living Will" anyway?
A living will or advance directive generally directs health care providers whether or not to use heroic treatments or extraordinary measures that would delay death, such as breathing machines (respirators/ventilators), or to stop such treatments if they have been started. Individuals can also specify their views about giving food and water through a tube (artificial nutrition or hydration), as well as the length of time such treatments are to continue.
Who carries out these wishes?
The party responsible for following specified wishes is completely up to the patient. A Health care Power of Attorney is given to the person named to make medical decisions predetermined by the patient. This person is called a "health care agent" or "proxy." The agent or proxy is the voice of the patient and voices only the feelings and thoughts that the patient has expressed. They are to present decisions in an unbiased manner, regardless of their own viewpoints.
Will physicians and staff ignore the patient and go directly to the Power of Attorney or Proxy?
No. Make no mistake, patients' thoughts, feelings, and values take priority over anything else. Health care providers will provide any available information so that patients may make an educated decision, but the final decision rests with the patient and those wishes will be respected. A health care Power of Attorney or Proxy only becomes effective in the event that is physically or mentally unable to make their own choices known.
What happens if there is not a Living Will or Advance Directive in place?
The decisions of health care become the responsibility of next of kin, even if the patient would not want that person to be involved. If the patient does not have proof of their wishes outlined, there is no way for anyone to know what they would have wanted.
The topic of living wills or advanced directives may be one of the most uncomfortable conversations a family ever has, but the only way to ensure that everyone understands and respects each others' wishes is to maintain an open dialog. This discussion will also relieve some of the stress and tension from grieving family members during a difficult time.
Article Source: http://EzineArticles.com/?expert=Kimberly_Liichow
Tuesday, April 8, 2014
Estate Planning 101 - Wills, Living Wills, Power of Attorney, Trusts
Estate planning sounds so overwhelming: Wills, Living Wills, Power of Attorney, Trusts, Guardianships, etc., etc., etc.
What does it all mean and what do you really, really need to ensure that your family will be cared for when you pass away?
While the following definitions are by no means intended to be all-encompassing, or cover all of the variations of each document, they are helpful for the estate planning novice in determining what documents are right and necessary for them.
What is a will?
A will is a written legal declaration by which a person makes known how their property will be disposed of upon their death. Property includes not only real property (land, house, condominium, business storefront, etc.), but also personal property such as jewelry, art, sports memorabilia, even pets.
What is a living will?
A living will is a legal document, by which a person makes known his or her wishes regarding life-sustaining or life-prolonging medical procedures, such as resuscitation. A living will can also be called an advance directive, health care directive, advance medical directive, or physician's directive.
What is power of attorney?
Power of attorney is a legal document by which Person A gives Person B the power to make decisions about their legal and/or financial affairs upon Person A's incapacitation. Powers of Attorney expire upon your death.
What is a trust?
Trusts come in all forms and can be straightforward or extremely complex. Simple stated, trusts are a financial arrangement that allows a third party (the trustee) to hold assets on behalf of a beneficiary. How and when the assets pass to the beneficiary can be controlled by establishing a trust.
The sooner you get started, the sooner you'll have the peace of mind in knowing that your family will be cared for when the inevitable happens.
Even if you have completed estate planning, it's never really 'done.' Life is going to come along and make you re-do it.
Following are a few examples of life circumstances that necessitate your updating your estate planning documents:
What does it all mean and what do you really, really need to ensure that your family will be cared for when you pass away?
While the following definitions are by no means intended to be all-encompassing, or cover all of the variations of each document, they are helpful for the estate planning novice in determining what documents are right and necessary for them.
What is a will?
A will is a written legal declaration by which a person makes known how their property will be disposed of upon their death. Property includes not only real property (land, house, condominium, business storefront, etc.), but also personal property such as jewelry, art, sports memorabilia, even pets.
What is a living will?
A living will is a legal document, by which a person makes known his or her wishes regarding life-sustaining or life-prolonging medical procedures, such as resuscitation. A living will can also be called an advance directive, health care directive, advance medical directive, or physician's directive.
What is power of attorney?
Power of attorney is a legal document by which Person A gives Person B the power to make decisions about their legal and/or financial affairs upon Person A's incapacitation. Powers of Attorney expire upon your death.
What is a trust?
Trusts come in all forms and can be straightforward or extremely complex. Simple stated, trusts are a financial arrangement that allows a third party (the trustee) to hold assets on behalf of a beneficiary. How and when the assets pass to the beneficiary can be controlled by establishing a trust.
The sooner you get started, the sooner you'll have the peace of mind in knowing that your family will be cared for when the inevitable happens.
Even if you have completed estate planning, it's never really 'done.' Life is going to come along and make you re-do it.
Following are a few examples of life circumstances that necessitate your updating your estate planning documents:
- IF you had a baby
- IF you got married
- IF you got divorced
- IF you adopted a child
- IF you have a new grandbaby
- IF a relationship within your family has changed
- IF tax laws have changed
- IF your estate value has dramatically increased (or decreased)
- IF you moved to a new state
- IF you retired
- IF you changed your investments
The Law Office of Nancy L. Holm, LLC, http://www.holmlawnj.com/
a New Jersey Limited Liability Company, is a full-service, general
practice law firm located in Monmouth County, N.J., and serving clients
in New Jersey and Pennsylvania. You can trust our integrity and
commitment to your best interests when you have a legal problem. We
offer a free consultation and reasonable rates, so that legal
representation is available to everyone.
Article Source:
http://EzineArticles.com/?expert=Nancy_L_Holm
Monday, April 7, 2014
Advantages of Forming an LLC
People are familiar with sole proprietorships, partnerships
and corporations. Unknown to some however, there are also other
business structures that may be more suited to their requirement. A
limited liability company (LLC) is one of those business structures. It
is a type all on its own but has the features of both a corporation and
a partnership, something many think as one of the advantages of forming
an LLC. An LLC, like a corporation, offers its owners limited
liability. Unlike a corporation however, it does not need to meet rigid
formalities and requirements to maintain its business status. An LLC,
like a sole proprietorship or a partnership makes possible a
pass-through taxation. The basic advantages of forming an LLC boils
down to its financial and taxation benefits over the other forms of
businesses.
One of the most important advantages of forming an LLC is the very basis of its name, the limited liability it provides it owners. Its owners, called members, enjoy the liability protection it provides being able to operate as a separate entity. As such, its members will not be held personally liable for the company's debts and other acts and liabilities unless of course the member made a personal guarantee. To illustrate, if a company goes bankrupt and owed money from suppliers, the suppliers may not sue the member on the personal level. This means even if the member has enough personal money to pay for the LLC's debt, he is not legally bound to do so.
Another one, and a great one at that, of the advantages of forming an LLC is its tax feature. Unlike a corporation, an LLC does not need to pay corporate tax. This is due to the pass-through capability of LLCs. The company passes through to its members the profits as well as the losses of the company who in turn will report them in their tax return. However, an LLC may opt to be taxed like a corporation if it prefers it.
Still one of the advantages of forming an LLC is its highly flexible capability of distributing profits to its members. Unlike in a partnership where profit distribution is done fifty-fifty or according to the percentage of ownership or investment, an LLC may opt to distribute profits the way they wan to. It can be according to the work invested on the company by the member or whatever distribution formulas the members may agree to elect.
The abovementioned advantages of forming an LLC are the most recognized benefits a limited liability company has. Aside from those however, there are still a number of other reasons why businessmen opt to form an LLC instead of other forms of business. LLCs provide lesser administrative paperwork and formal recording of meetings as compared to corporations. The forming of an LLC does not need as many requirements than in other entities. It can accommodate as many members as it wants and at the same time may be formed even with a single member only.
There are still many advantages of forming an LLC and you may see all the information you need in the internet. Even forming one may be done online. You may get the services of business advisors to give you an insight if this is indeed what you need.
One of the most important advantages of forming an LLC is the very basis of its name, the limited liability it provides it owners. Its owners, called members, enjoy the liability protection it provides being able to operate as a separate entity. As such, its members will not be held personally liable for the company's debts and other acts and liabilities unless of course the member made a personal guarantee. To illustrate, if a company goes bankrupt and owed money from suppliers, the suppliers may not sue the member on the personal level. This means even if the member has enough personal money to pay for the LLC's debt, he is not legally bound to do so.
Another one, and a great one at that, of the advantages of forming an LLC is its tax feature. Unlike a corporation, an LLC does not need to pay corporate tax. This is due to the pass-through capability of LLCs. The company passes through to its members the profits as well as the losses of the company who in turn will report them in their tax return. However, an LLC may opt to be taxed like a corporation if it prefers it.
Still one of the advantages of forming an LLC is its highly flexible capability of distributing profits to its members. Unlike in a partnership where profit distribution is done fifty-fifty or according to the percentage of ownership or investment, an LLC may opt to distribute profits the way they wan to. It can be according to the work invested on the company by the member or whatever distribution formulas the members may agree to elect.
The abovementioned advantages of forming an LLC are the most recognized benefits a limited liability company has. Aside from those however, there are still a number of other reasons why businessmen opt to form an LLC instead of other forms of business. LLCs provide lesser administrative paperwork and formal recording of meetings as compared to corporations. The forming of an LLC does not need as many requirements than in other entities. It can accommodate as many members as it wants and at the same time may be formed even with a single member only.
There are still many advantages of forming an LLC and you may see all the information you need in the internet. Even forming one may be done online. You may get the services of business advisors to give you an insight if this is indeed what you need.
For more information about an LLC Definition or want to know what is llc, be sure to check out the leading source of information about LLCs: How To LLC.
Sunday, April 6, 2014
Why Forming an LLC is a Good Idea
If you are experienced in running your business, you understand
the importance of getting the correct corporate form in place. You
should seek to have a structure that will not only aid long term
expansion but also protect your assets. The good news - there are a lot
of potential forms your business can take.
You should consider, if you have a small business, forming an LLC. Think about setting up an LLC if you have a small business. Fortunately, they are simple to create. There is little paperwork with them. Further, in many states, you won't need to file an annual report.
Also, LLC forms a business structure that can protect your personal assets. Just keep you LLC compliant and your personal property is protected.
With an LLC, you can safe guard your business name.Also, LLCs allow unlimited owners. This will help give your business growth room. Also, owners don't need to have US citizenship.
In addition, an LLC doesn't require meetings. It also needs little paperwork. And you can flow your profit and loss to your personal taxes.
Keep in mind that setting up an LLC has fees and paperwork. Also, you need to make sure you are following all city and state laws. Thus, only consider an LLC if you have a clear business plan.
Overall, an LLC is great for small business. So you should at least consider one if you are serious about your business. Remember, it can save you time and money, both of which you can invest in your business!
You should consider, if you have a small business, forming an LLC. Think about setting up an LLC if you have a small business. Fortunately, they are simple to create. There is little paperwork with them. Further, in many states, you won't need to file an annual report.
Also, LLC forms a business structure that can protect your personal assets. Just keep you LLC compliant and your personal property is protected.
With an LLC, you can safe guard your business name.Also, LLCs allow unlimited owners. This will help give your business growth room. Also, owners don't need to have US citizenship.
In addition, an LLC doesn't require meetings. It also needs little paperwork. And you can flow your profit and loss to your personal taxes.
Keep in mind that setting up an LLC has fees and paperwork. Also, you need to make sure you are following all city and state laws. Thus, only consider an LLC if you have a clear business plan.
Overall, an LLC is great for small business. So you should at least consider one if you are serious about your business. Remember, it can save you time and money, both of which you can invest in your business!
David is the creator of http://www.LLCFormsExpert.com [http://LLCFormsExpert.com], a site dedicated to helping you with forming an LLC [http://LLCFormsExpert.com]
Saturday, April 5, 2014
How Often Should I Update My Will
You should review your Will every few years to make sure it remains current and valid. You may want to make specific changes -- like changing a beneficiary or revising certain gifts.
Friday, April 4, 2014
Duties Owed By Trustees To Trust Beneficiaries
Trustees are responsible for holding trust property for the benefit of the beneficiaries. Thus, the law imposes several legal duties on the trustee to ensure that the beneficiaries' best interests are protected.
Thursday, April 3, 2014
By The People Commercial
We're a legal document assistance company, and basically that means we help people do their own documents. The main two services we provide are living trusts and divorce. So what we pride ourselves is going above and beyond for each and every one of our customers. Whether that means sometimes going to the house and doing a home visit for home bound people who need that service. Sometimes its a notary, sometimes it's a living trust. We work with everybody. If you have a legal need, we're going to be here to help you.
Part of the Free Commercial Push by A Squared. Published online only.
Wednesday, April 2, 2014
Documents to Consider When Doing Estate Planning
There's nothing that can prevent someone from dying, since
physical death is an absolute certainty that no one can escape. The fear
for some people, though, is not what's going to happen to them after
they pass on, but more on who's going to take care of their loved ones,
especially if the people he'll be leaving behind are either very young
children or are incapacitated, or both.
You can't have control of what's going to happen to you after death, but you sure can decide what's going to happen to your assets once that event transpires. It's called estate planning. This is the process by which a person (or even a family) arranges the transfer of his assets in anticipation of his death. And in estate planning, there are several documents to consider. Here are some of them:
Last will and testament - This document takes front and center in all the planning. This is the document that legally provides for the transfers of assets after one's death. It names a person to settle the estate, a trustee who will administer any trust established, and a guardian if there minor children. For those who die without having executed a will, they are considered to be 'intestate.' Under certain laws, if one is intestate, property goes first (or in major part) to a spouse, and then to children and their descendants.
Trust - Persons preparing a will and testament can execute either 'inter vivos' or testamentary trusts (trusts established through a will). The difference between the two is that with the former, assets are transferred into the living during the trust creator's lifetime, as opposed to testamentary trusts, where the transfer becomes operative at the time of death.
Durable powers of attorney - A power of attorney is the document that authorizes a designated agent to carry out financial and business transactions for the person that's establishing the document. This grants such agent to access bank accounts (and even brokerage accounts), deal with insurance companies, and even sell property. This effectively allows the agent to step into the shoes of the person he is assisting.
Healthcare power of attorney - This document is a form of a living will that is designed, among other things, to: provide instructions for the conditions should life-sustaining procedures be utilized, authorize who will make healthcare decisions, and ensure that the person chosen to make these decisions is given access to the executor's medical records during incapacity.
These are the important documents to take into account so a person can have the opportunity to make personal and financial decisions, both in life and after death, without the need for court orders.
You can't have control of what's going to happen to you after death, but you sure can decide what's going to happen to your assets once that event transpires. It's called estate planning. This is the process by which a person (or even a family) arranges the transfer of his assets in anticipation of his death. And in estate planning, there are several documents to consider. Here are some of them:
Last will and testament - This document takes front and center in all the planning. This is the document that legally provides for the transfers of assets after one's death. It names a person to settle the estate, a trustee who will administer any trust established, and a guardian if there minor children. For those who die without having executed a will, they are considered to be 'intestate.' Under certain laws, if one is intestate, property goes first (or in major part) to a spouse, and then to children and their descendants.
Trust - Persons preparing a will and testament can execute either 'inter vivos' or testamentary trusts (trusts established through a will). The difference between the two is that with the former, assets are transferred into the living during the trust creator's lifetime, as opposed to testamentary trusts, where the transfer becomes operative at the time of death.
Durable powers of attorney - A power of attorney is the document that authorizes a designated agent to carry out financial and business transactions for the person that's establishing the document. This grants such agent to access bank accounts (and even brokerage accounts), deal with insurance companies, and even sell property. This effectively allows the agent to step into the shoes of the person he is assisting.
Healthcare power of attorney - This document is a form of a living will that is designed, among other things, to: provide instructions for the conditions should life-sustaining procedures be utilized, authorize who will make healthcare decisions, and ensure that the person chosen to make these decisions is given access to the executor's medical records during incapacity.
These are the important documents to take into account so a person can have the opportunity to make personal and financial decisions, both in life and after death, without the need for court orders.
Estate planning deals with certain legal issues, which makes it important for an individual to get the services of a lawyer while doing it. You can get attorneys estate planning at ClinchLongLetherbarrow.
Tuesday, April 1, 2014
Benefits of an LLC For Rental Property Owners
Rental property owners are entrepreneurs. And as entrepreneurs,
their primary goal is to maximize profit. One of the most basic steps in
maximizing profit is to minimize costs and other liabilities. Recently,
the up and coming trend of protecting one's personal assets from the
liabilities of a rental business is to set up an LLC over the rental
properties. With this LLC, the rental property owner's personal
property, like home, car and other assets, are protected from the
unpredictable demands of owning rental property. There are also other
benefits of an LLC for rental property owners.
Personal property protection
First of, what is an LLC? LLC stands for Limited Liability Company. Without the LLC, business owners are liable for damages and other losses from their business even with their own personal assets.
To illustrate, a sole-proprietor will have to pay for anything and everything that deals with his business out of his own pockets. He can never interpose that his business is bankrupt when he still maintains a personal bank account, his own car and his own home. His personal assets will have to answer for the deficiency. Corporate shareholders do not have this problem because they are protected by the law on corporations that shareholders are only liable for losses out of their corporate shares, hence, their personal property is protected and remains untouched by any corporate liability. The downside of forming a corporation though is that the process itself is meticulous and profits will have to be shared with a handful of shareholders.
LLC combines the ease of being a sole-proprietor with the potential of earning huge profits all by yourself and the protection to personal assets that corporations offer. Personal property protection is the most basic and primary of the benefits of an LLC for rental property owners.
Tax advantages
Another of the benefits of an LLC for rental property owners is the tax advantages. Has even better tax treatment than when in a corporation. A corporate shareholder in essence will have to pay taxes twice. First, when the corporation itself pays its taxes, and second when the shareholder has to pay his own tax from the income derived from the corporation. An LLC is not taxed as a separate entity. The property owner will only have to pay his taxes once, upon his receipt of the income from the rental property. Also, the net loss in the LLC can be declared as a personal deduction for the property owner!
Be a professional by name
Real estate laws require one to spend a certain number of hours in real estate activities to be called as professionals in the real estate industry. But being in an LLC, these requirements are cut in as much as half!
An LLC may be obtained for separate properties
Another of the great benefits of an LLC for rental property owners is that a different or separate LLC may be obtained for each and every property. Why is this beneficial? Because when an investment is sued covered by an LLC, all the properties belonging to that LLC will stand liable for the suit. Covering separate properties with separate LLCs will only make the specific property or investment liable for the claim it is sued for.
These are only the basic benefits of an LLC for rental property owners. And these are already enough to convince any serious business-minded property owner, what would a more detailed study of the benefits do? Start protecting your own personal property and increasing your profits all in the same time. Get an LLC now!
Personal property protection
First of, what is an LLC? LLC stands for Limited Liability Company. Without the LLC, business owners are liable for damages and other losses from their business even with their own personal assets.
To illustrate, a sole-proprietor will have to pay for anything and everything that deals with his business out of his own pockets. He can never interpose that his business is bankrupt when he still maintains a personal bank account, his own car and his own home. His personal assets will have to answer for the deficiency. Corporate shareholders do not have this problem because they are protected by the law on corporations that shareholders are only liable for losses out of their corporate shares, hence, their personal property is protected and remains untouched by any corporate liability. The downside of forming a corporation though is that the process itself is meticulous and profits will have to be shared with a handful of shareholders.
LLC combines the ease of being a sole-proprietor with the potential of earning huge profits all by yourself and the protection to personal assets that corporations offer. Personal property protection is the most basic and primary of the benefits of an LLC for rental property owners.
Tax advantages
Another of the benefits of an LLC for rental property owners is the tax advantages. Has even better tax treatment than when in a corporation. A corporate shareholder in essence will have to pay taxes twice. First, when the corporation itself pays its taxes, and second when the shareholder has to pay his own tax from the income derived from the corporation. An LLC is not taxed as a separate entity. The property owner will only have to pay his taxes once, upon his receipt of the income from the rental property. Also, the net loss in the LLC can be declared as a personal deduction for the property owner!
Be a professional by name
Real estate laws require one to spend a certain number of hours in real estate activities to be called as professionals in the real estate industry. But being in an LLC, these requirements are cut in as much as half!
An LLC may be obtained for separate properties
Another of the great benefits of an LLC for rental property owners is that a different or separate LLC may be obtained for each and every property. Why is this beneficial? Because when an investment is sued covered by an LLC, all the properties belonging to that LLC will stand liable for the suit. Covering separate properties with separate LLCs will only make the specific property or investment liable for the claim it is sued for.
These are only the basic benefits of an LLC for rental property owners. And these are already enough to convince any serious business-minded property owner, what would a more detailed study of the benefits do? Start protecting your own personal property and increasing your profits all in the same time. Get an LLC now!
North New England [http://northnewenglandhomes.com/] Homes Blog and North New England Homes can offer you a whole deal of information about the real estate market. Whether you want to sell your house, buy a property or rent one, getting all the information that you need will give you a great advantage.
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