QDRO Forms to Divide Pension Benefits in Divorce - "Shared Interest" Or "Separate Interest" Approach

Many people facing the prospect of divorce are surprised to learn that pension benefits accrued during the course of a marriage are considered marital property (or, in some states such as California, community property) that is divided between the spouses upon divorce. A pension plan falls under the category of retirement plans known as defined benefit plans. These types of retirement plans generally provide that upon retirement, the participant (employee) is entitled to a monthly annuity that is payable over his or her lifetime.

Because of certain provisions contained a Federal law known as the Employment Retirement Security Act, a divorce judgment or matrimonial settlement agreement, standing alone, is not a legally sufficient mechanism for dividing a pension plan. It is essential that a further order, known as a qualified domestic relations order (QDRO) be entered by the court and approved by the pension plan administrator.

In situations where the participant spouse is not yet retired, the QDRO form can utilize two different methods for dividing pension benefits. These include the "shared interest approach" and "separate interest approach."

If a QDRO form uses the Shared Interest Approach, payments to the Alternate Payee cannot begin until the Participant chooses to retire and begins to receive a retirement allowance. Furthermore, payments to the Alternate Payee must end upon the Participant's death unless the Alternate Payee was designated in the QDRO as the surviving spouse of the Participant for the purpose of electing a Qualified Joint and Survivor Annuity and such election was elected by the Participant at the time of the Participant's retirement.

If a QDRO form applies the Separate Interest Approach, a "separate interest" is carved out for the Alternate Payee and adjusted to his or her actuarial life expectancy. In addition, the Alternate Payee controls the timing and manner of his or her receipt of the benefit payments. The Alternate Payee can commence receiving benefits at the Participant's earliest retirement date, rather than wait for the Participant to begin to receive a retirement allowance.

In most instances, it is highly beneficial for the non-participant spouse that the QDRO form utilize a separate interest approach. Sample QDRO forms are available for download. Upon completion of a proposed QDRO form, the document must be submitted to the pension plan administrator for approval, and, thereafter, to the divorce court adjudicating the matter.

Article Source: http://EzineArticles.com/?expert=Marc_Rapaport

Article Source: http://EzineArticles.com/4517426

What is a Financial Power of Attorney?

If you are ever incapacitated, who is going to take care of your finances? Betsy Abramson talks about why preparing these documents in advance is important.

By The People in Fairfield, CA is available to help with document preparation for you to represent yourself in many uncontested legal matters. Learn more here: http://bythepeopleca.com

What Are the Different Business Legal Structures?

There are several common legal structures that you can set your business up under. Which one you chose is going to depend on what kind of business you are setting up, who else is involved in this plan with you, your own personal preferences, among several other factors.

Here is a quick overview of your options.

Sole Proprietorship

This is still the most common type of business structure, particularly for small businesses that are just starting out. This means that one person owns and is responsible for the business. They make all the decisions, but they also hold all the financial responsibility. The profits or losses from the business are reported on the proprietor's personal taxes.

General Partnership

This is very similar to a sole proprietorship, except that there is more than one person involved in owning and operating the business. The business is still connected to you, but also to your partners. This means you all share in the management and financial responsibilities of the business.

Corporation (LTD or INC)

A corporation is an entity that is formed and does business on its own, separate from anyone personally. This means that the financial situation of the business does not roll over onto the person who owns the business.

While this may seem like the better option to avoid personal liability if something happens within the business, it can be extremely tedious and expensive to set up and maintain. This is not a viable option for most small business owners because most of them cannot afford the set up fees or maintenance of records required.

Limited Liability Company/Corporation (LLC)

This is a newer and very popular type of business structure because it offers the benefits of a corporation, does not require a lot of the same hassle. Unlike a limited liability partnership, you can set up this type of company with only one person. It provides a lot of the financial protection of a corporation, but does not require as extensive measures to upkeep.

Limited Liability Partnership (LLP)

This is a different type of partnership, but it also provides some of the financial protection of a corporation. Unlike an LLC, you must have at least two partners. However, it is easier to maintain and keep your structure than an LLC. This business structure is also much more common in the UK, which LLCs are more popular in the US.

How you set up your business is an important decision. The structure you choose could make a big financial and legal difference. It will depend on many factors, including local laws. Take the time to research your options and talk to an accountant or other business professional and anyone else involved in your business before making your decision.


Article Source: http://EzineArticles.com/9689433

What is a Living Trust?

A living trust, created while you're alive, lets you control the distribution of your estate. You transfer ownership of your property and your assets into the trust. You can serve as the trustee or you can select a person or an institution to be the trustee.

Defining Legal Terms - By The People

Rene goes over what types of questions they can help answer at By The People. A legal document preparation company.

See more at http://www.bythepeopleca.com

Aging, Communication, and Preparation

Making plans for retirement is clearly one of the highlights of your life. From the time you get out of college and enter the workforce most of your time is accounted for, and over those years there are invariably going to be many experiences that make their way onto your "to-do" list. The day that you retire is the day that you start to check things off that list, and your life experience in enriched with every mark.

We often talk about the fact that one of the challenges that is inherently part of any type of long-term planning is the fact that you can't predict the future with any degree of certainty. This is true of financial markets, laws, our own health and that of our loved ones. All of these things impact retirement planning, but there is another factor that can be difficult to fully digest.

Your mental capacity may not be the same as your retirement years pass. When you are planning for retirement it is very important to be realistic and keep this in mind. What happens if you need long-term care? What if you never made your medical preferences known via the execution of advance health care directives? You don't want to start considering these matters for the first time when you are in the latter stages of your life.

It may be a good idea to plan for your twilight years simultaneous to making plans for an active retirement both emotionally and financially. Bringing the issues of long-term care and possible incapacitation out in the open with your family long before they are directly relevant is also something to consider. Successful people generally confront reality and stay ahead of the curve. If you follow the same path that brought you success throughout your life you will invariably age just as successfully.

Article Source: http://EzineArticles.com/?expert=Alan_Augulis

Article Source: http://EzineArticles.com/5654284

Why You Should Integrate a Family Trust with Your Business

Utilizing a Revocable Living Trust can be an affordable way to ensure your business passes effectively to your family or loved ones upon your death.

Estate Planning : Family Estate Trust or Revocable Living Trust?

Most people who ask for family estate trusts really want a revocable living trust to reduce estate taxes and manage finances.

Deeds - Some Ways To Make Changes - By the People

Rene at By the People talks about Deeds of trust and how they can help people make the necessary changes to their title for a number of different reasons. Call 707-428-9871 with any questions, and visit the website at http://www.bythepeopleca.com

What Happens If We Cannot Find a Will?

What happens if we cannot find a will?

Legal Separation Vs Divorce - Understanding How to Choose

Happily ever after is not always the case when it comes to being married. Often times married couples have a hard time and need to have a break from each other for one reason or the other. It is amazing how many marriages actually end in divorce. However, before you make the decision to get a divorce it is important to know all the facts and options before making a choice. You need to look at legal separation vs divorce when choosing the right one to fit your needs. First let us look at and distinguish the differences.

Legal separation is similar to a legal divorce however there are notable differences that need to be taken into account. A legal separation does not permanently dissolve a marriage, it is something that can be temporary if so desired. There are some couples that just need time apart from one another and living separately is the answer.

A legal separation occurs when the two parties are living separately and it has been filed through the court system. Do not mistake a legal separation for a separation. A separation is not filed with the courts and does not carry the same provisions as a legal separation. Much like a divorce, a couples assets, property and child custody are addressed via a legal separation agreement which is filed with the courts. A separation does not provide provisions and is based solely on verbal agreements. Living separately is mainly used to determine if separating is really what a couple wants to do. There is not paperwork or filing with the courts in the case of a separation.

A legal separation is mainly different from a divorce in the fact that the couple is still legally married. There are benefits to living separately instead of immediately filing for a divorce. A divorce terminates the marriage and any and all joint interest the couple may share. A living separately does not terminate the interest however it does divide the interest. Another benefit of a living separately is the couple can still take advantage of the tax advantages of being married, they can also continue with joint insurance coverage.

Once legally separated can be canceled at any time and the marriage returned to its original status. If a couple automatically proceeds with a divorce when there is a chance for reconciliation, the couple would have to get re-married. If there is any possibility of a reconciliation a legal separation is the way to go. It gives you the time to decide if being separated permanently is what you really want.

The statistics show that 50% of first time marriages end in divorce, especially for individuals under the age of 40. This may not be surprising to many of you because it is a sad but true fact. It seems to be a quick fix for many troubled marriages. Maybe if more people know there were other alternatives to divorce, no so many divorces would be happening. There are times when all a troubled marriage needs is a little time and reflection for both parties to see that they truly were meant to be together.

Whether you choose to have a divorce or get legally separated, it is highly recommended that you obtain legal counsel. Both a legal separation and divorce require filings to be made in the courts. A divorce also requires a reason for the divorce whereas a legal separation does not require any reasoning. Do not take for granted the different options afforded to you, sometimes making decisions quickly and while in an irritated or frustrated state is rash. Divorce and separation are not games, they are serious matters and need to be viewed as such.

Divorce is not something anyone wants to experience but there are times when the only alternative to a bad marriage is divorce. Whether you decide to have a full blown divorce or give a legal separation a try, it is important to find out all the details and facts before making a decision. Each state and country have different rules and prerequisites that apply for both legal separations and divorce. This is one of the most important decisions you will make; therefore, make it wisely.

Article Source: http://EzineArticles.com/expert/Ana_Marie_Fischman/435629

Article Source: http://EzineArticles.com/3598645

Uncontested Divorce - Definition, Terms and Conditions

An Uncontested Divorce is a legal procedure in which the spouses mutually agree on certain terms and conditions, in order to adjourn their marriage. An uncontested divorce can be executed successfully if the spouses comply to a shared agreement in the matters related to the property partition, financial matters, any kind of support activities related to their children, and other litigious affairs.

A major benefit of consenting with an uncontested divorce is that unlike contested divorce, it doesn't have to deal with emotional and financial issues, is relatively inexpensive and quick, since most of the times the spouses may not find any need of an attorney or a court case for the divorce, if they are in good terms with each other, and plan to go with proper understanding. This is quite helpful essentially when the couple has much less assets to deal with and no children.

There are many "Do it yourself" forms available at concerned regulatory agencies, which can assist you in going ahead with the uncontested divorce activity yourself, without the need of any outside legal authority or attorney.But, in case of the issues for child support or the partition of community property, one must follow up with attorney related to divorce, before they proceed with signing off any legal documents.

Divorce is a quite tedious and sometimes displeasing procedure.Despite having mutual consent on many of the terms, there still exist loads of matters that need to be taken care of, before ending up the marriage. The couple needs to be capable enough to distinguish these issues and resolve them as soon as they can. To decide whether it is appropriate for a couple to go ahead with an uncontested divorce rather than a contested one, there are certain points that can be used as reference:

1) Are both the spouses agreeing to go for a divorce, or one of them still wants to re-establish the relationship?

2) Are all the financial issues, modes of income and other related assets properly understood by both the spouses, so that they can divide and decide on them accordingly?

3) In case, there are children, are all the issues regarding the child care and support,custody, periodic meetings and visits decided yet?

4) Are all the issues getting settled with mutual consent, and are devoid of any hard feelings?

5) Are both the partners in accord with the honesty or authenticity of the other partner's notions,regarding the resolution of these issues?

If either of the above mentioned questions, has an answer as "yes", then it is appropriate to go for an uncontested divorce.

Uncontested divorce can be carried on easily and without much hassles, but they can be derogatory to certain individuals in case the people involved in the divorce, do not know much about their appropriate rights with respect to the alimony amount, partition of pension, earnings from real estate, and other modes of income.

Article Source: http://EzineArticles.com/?expert=Camy_Divine

Article Source: http://EzineArticles.com/3724625

Making a Will - What You Should Know About Creating a Will

A will is an important document for any person to have. This document simply provides directions on how your property will be handled when you pass on. Many times, when people die without a will in place, a lot of misunderstandings can arise within the family and the community at large. It is therefore important to specify how one's property or estate will be handled to avoid these misunderstandings.

A will writing service is important to help you come up with your will. It is possible for you to write your will without any help but if you are not familiar with this process, you need guidance so that you can write a will correctly.

The first thing you need to do is identify a good will writing service that has the requisite experience and reputation to ease the process of making a will. There are a number of benefits that you will get when you work with a will writing service. Some of these benefits include:

• Correct Structure

Certain things are required when you are drawing up your will. You must indicate that you are of the right age and of sound mind. You must also indicate that this is your last will and testament. You still are able to amend your will at any time you wish to.

These services will also help you to understand technical terms used when writing a will. A man writing a will is called a testator while a woman is called a testatrix. The will has to be signed by the testatrix or the testator and signed by two other witnesses.

• Tax Implications

Certain assets or estates can have tax implications. If you leave your estate to someone else other than your spouse, they might be required to pay taxes on it. It is important to know this in advance and plan for it accordingly.

• Will Execution

Another important aspect to consider is the executor of the will. This is the person who will carry out the terms of the will should you pass on. The person who helps you write the will can also be the executor if they have that capacity. If not, you should name the person or company to carry out this function.

Making a will should not be a problem for you. With the right people to help you, this process will be easy. It will allow you to rest well knowing that your estate will be handled correctly when you pass on.

Article Source: http://EzineArticles.com/expert/Tony_M_Mason/1175640

Article Source: http://EzineArticles.com/6551962

Wills and Trusts - What Are the Differences?

Both of these legal documents offer a way to distribute estate assets when a person dies but each are different in a variety of ways.

Wills

With a will, it is cheaper to prepare but it can be expensive to probate. In many jurisdictions, according to estate law, this is a legally binding document, which will allow you to give your assets to a designated beneficiary or beneficiaries. Unfortunately, this usually does not happen until after the person of the will dies. A will executor carries out the distribution of their assets. After the creator dies, the will must go through probate. During probate, the court will decide if the will is valid. Then the court will supervise the distribution of the assets. This can be a costly process because the assets can be subjected to estate taxes. When this is the case, an estate lawyer's services may be required.

With a will, one of the drawbacks is that they become public record after the creator's death so everything about the will is public knowledge. In order to manage the distribution of assets there will be a conservatorship or a power of attorney.

Trusts

A trust is more expensive to prepare but when there is a trust, it will usually allow the beneficiaries to avoid any probate costs. After having a trust written it can take effect any time during a person's lifetime using a trustor to convey assets to the trustee to hold for the beneficiaries. When the creator dies, the probate is avoided. This is because the assets were transferred during the lifetime of the trustor. The trust will continue to function even after the trustor dies.

With a trust, it will usually remain private and allow the beneficiaries of the trust to maintain confidentially about the specific terms of the trust. Generally having a trust can provide more tax benefits. In some jurisdictions, they will allow for a certain amount of the trust assets to be passed on to the beneficiaries without requiring them to pay gift and estate taxes. Depending on any applicable trust laws, the tax perks available will vary from one jurisdiction to another jurisdiction.

In managing a trust, it can be done by a trustee or a trustor but will depend on how the trust has been set up. If the trustor manages the trust then he will usually specify who will manage it once he has died.

In conclusion

Looking at all the facts it appears that it is best if a trust is set up to distribute the assets instead of using a will. If you are uncertain talk to an estate attorney for legal advice as to which one you should set up for your particular situation.

Article Source: http://EzineArticles.com/?expert=Lora_Davis

Article Source: http://EzineArticles.com/9109613

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:

• 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

Article Source: http://EzineArticles.com/?expert=Nancy_L_Holm

Article Source: http://EzineArticles.com/8400522

Naming Of Guardianship In Wills

When there are minor children, a Will should always be used to name a guardian(s) of their persons and property. This guardian is who will be taking care of them in your absence and will also have control over their finances, both from you and for their well being. This guardian that you appoint, needless to say, is someone that you must be able to trust completely with your children and someone who will make sure that they are cared for in the way that you have planned. This person "can" of course be someone other than your X.

Alternate guardians should also be named in the even that the original guardian is for whatever reason unable to assume responsibility. Naming of guardians and alternates should not be done any other way but in a Will. This will relieve any hint of confusion after you are not able to take care of your kids yourself. Of course, if there is a surviving parent that person will be automatically named guardian if living in the same household; but, if your will specifies a different person to control the money, then this can fit your goals quite nicely.

This situation can and often gets tricky in divorce cases. Since you are divorced, the parent with legal custody of the child(ren) should designate a guardian. If you are the legal guardian, then you have the authority to designate who will care for your children after you die. Understand, however, that if somebody besides the other biological parent is named, this decision might not be binding.

When a custodial parent dies, the non-custodial parent always has priority in seeking guardianship and custody, unless that person is deemed unfit to perform the duties necessary or is unsafe to leave with children. If you are set against your "X" getting custody of your children if you were to die, you need to make sure that you or your appointed guardian will be able to prove that your "X" is unfit or unable to perform the job.

However, be aware that the court will probably have to approve who you have proposed to be the legal guardian eventually even if named in your Will. The purpose of your Will in this regard, though, is to guide the court in its judgment. It will also help avoid family arguments over who is better qualified to raise your children and will give the person you choose the authority over all others.

Article Source: http://EzineArticles.com/?expert=Dennis_Gac

Article Source: http://EzineArticles.com/8053672

Top 6 Most Frequently Asked Questions in Expunging Your DUI Conviction Records in California

Like most states in US, California too allows you to expunge your DUI conviction record. Expunging your DUI conviction record will help you get rid of all the problems resulting from your offense and make you to experience the life like before. Regardless of whether your offense is misdemeanor or felony, they can usually be expunged. Following are the FAQ's which are sure to provide you an insight about expunging your DUI records in California:

What is expungement?

Expungement means sealing your DUI conviction record which practically means giving petition to the court to expunge your record and the court replaces your plea as not guilty and then dismisses your case. So when applying for a job or under any other circumstances you need not have to disclose that you have been convicted.

Who Is Eligible For expungement in California?

You are eligible for expungement:

• if you are a first DUI offender who has only one charge for either a misdemeanor or felony
• a year has passed since conviction
• if you have completed probation successfully and not on probation for another offense
• have no charges pending
• have paid all the fines ordered by the court

How much does it cost to file for expungement? 

It costs between $50 and $80 to file for expunging your record. 

Will they need my presence at the court? 

No, your expungement lawyer can do it for you. 

What will I benefit from expunging my DUI conviction record? 

There are a lot you will benefit from expunging your record such as employment, licensing etc,. 

What expungement won't do? 

Your expunged case can still be used for increasing your punishment when you again caught up for a DUI or other criminal cases.

Article Source: http://EzineArticles.com/?expert=Jennifer_Mann

Article Source: http://EzineArticles.com/864825

Separation vs Divorce

Are you unsure about the future of your marriage? Here are some tips to help you explore the difference between separation and divorce.

Limited Liability Company (LLC) - Definition and Explanation

A Limited Liability Company (LLC) is a very flexible form of business structure that combines elements of the typical corporation and partnership structures. By forming an LLC, you create a legal entity that provides limited liability to its owners. Often, these are incorrectly called a Limited Liability Corporation instead of Limited Liability Company. It is truly a hybrid business entity that can contain elements and/or characteristics of corporations, partnerships and even sole proprietorships, depending on how many owners are involved in the Limited Liability Company. An LLC, even though it is a business entity, is actually a type of unincorporated business and is not a corporation. The main characteristic that an LLC shares with a corporation is the limited liability protection that they both offer. The main characteristic that an LLC shares with a partnership is the pass-through income taxation that they both offer. It is, however, much more flexible than a corporation and is very well suited to single owner businesses.

You should understand that neither limited liability companies nor corporations always protect owners from liability. The legal system in the United States does allow a court system to pierce the corporate veil of an LLC if some type of fraud or misrepresentation is involved or in a situation where the owner uses the company as an 'alter ego'.

Flexibility and Default Rules

All LLC legal statutes include a phrase similar to "unless otherwise provided for in the operating agreement" and this allows for the flexibility the members of an LLC have in deciding how their LLC will be governed. Some statutes provide default rules for the governance of an LLC that are in effect unless an operating agreement has been adopted.

Income Taxation

For the purposes of the Internal Revenue Service and Federal income tax purposes, LLCs are treated by default as a pass-through entity. If the limited liability company has only one member or owner, it is automatically considered a "disregarded entity" for tax purposes and the owner is allowed to report the income from the LLC on his or her own personal tax return as a Schedule C. If the LLC has multiple owners, it is treated as a partnership and must file IRS form 1065. Partners will then receive a K-1 for their share of losses or income so they can report it on their tax return.

LLCs also have the option of electing to be taxed as a corporation, simply by filing IRS Form 8832. Then, they will be treated the same way as a regular C Corporation or they can elect to be treated as an S-Corporation. If it is treated as a C-Corporation, the entity's income is taxed before any dividends or distributions are given to the members and then taxation of the dividends or distributions will be taxed as income for the members. Some analysts have recommended the LLC taxed as an S-Corp as the best possible small business structure, because it combines the flexibility and simplicity of the LLC with the self-employment tax savings of the S-Corp.

Advantages

Here are the attributes of a limited liability company that are most widely viewed as advantages:

•Check the box taxation. LLCs have the option of being taxed as a sole proprietor, partnership, S-Corporation or C-Corporation, which provides a great deal of flexibility.

•Limited Liability. The owners of an LLC, who are known as members, are generally protected from some or all liability related to the acts and debts of the LLC, depending on state laws where the LLC formation took place.

•Administrative paperwork and record keeping is significantly simplified compared to a corporation.

•Pass-through taxation is automatic, unless the LLC elects to be taxed as a C-Corporation.

•Profits are taxed at the member's personal level, rather than at the LLC level by simply using the default tax classification given by the IRS.

•In most states, LLCs are generally treated as being a totally separate entity from the LLCs owners.

•LLC's can generally be set up with only one person being involved.

•An LLC can assign its membership interests, and the economic benefits of those interests can then be separated and assigned, which provides the economic benefit of distributing the profit and losses of the company, like in a partnership, without actually transferring the title to the interest.

•Except in cases where the LLC has adopted a corporate taxation structure, the income from the LLC will generally remain in the hands of its members

•By adopting an operating agreement, members can generally establish their own rules for governance and protective provisions for the members.

Disadvantages

Here are the attributes of a limited liability company that are most widely viewed as disadvantages:

•Most states do not have a statutory requirement for an LLC to have an operating agreement, however, if you are a member of a multiple member LLC, you may run into problems if you don't have an operating agreement, since most states do not dictate the governance and protective provision for the members of an LLC as they would with a regular corporation.

•If a member decides to sell his interest in a limited liability company, and if the ownership of the LLC is vested in multiple members, it is not as straight forward as with a corporation since the LLC cannot issue and sell stock certificates.

•Some investors are more comfortable with investing in corporations, due to the possibility of an eventual IPO. This can make it harder to raise financial capital.

•Franchise taxes are levied on LLCs in many states. This tax is essentially a fee the LLC pays the state for the benefit of providing limited liability. This tax can be based on revenue, profits, the number of owners, the amount of capital employed in the state, or some combination of these.

•LLCs are considered to be taxable entities in the District of Columbia, which eliminates the benefits associated with pass-through taxation.

•In some states, renewal or annual fees may be higher than corporations.

•Creditors have been known to require members of LLCs to personally sign for and guarantee debts of the LLC, which obviously makes to owners personally responsible for the debt.
Variations

•A Series LLC is a special and uncommon type of LLC. It allows a single LLC to segregate its assets into separate series.

•A Professional Limited Liability Company, also known as a PLLC, P.L.L.C., or P.L., is a type of LLC that is specifically organized to perform a professional service. This will usually involve professions where the state requires a license to provide these same services, like a doctor, chiropractor, lawyer, accountant, architect, or engineer. Some states do not allow an LLC to participate in the practice of a licensed professional.

Article Source: http://EzineArticles.com/expert/Mark_A._Thomas/703016

Article Source: http://EzineArticles.com/4681765

How to Get an Annulment

Divorces are often easier to get than annulments because annulments require proof that the marriage was procured or initiated through fraud. Get a marriage annulment and understand misconceptions about annulments with advice from a certified family mediator in this free video on legal self-help.

Giving Someone the Power of Attorney

Power of attorney is a legal term in fact. This is a form or a document that is basically legal because it will be notarize by someone in the right position like the lawyers. Power of attorney allows some to have the authority to handle some other person's business affairs. There are two individuals involve in the process. The first is the principal which will authorize someone to act on his or her behalf. The second person is the agent or the attorney in fact who is appointed to carry out the task of its principal. In the United States, attorney in fact is the common term used; this person must be loyal and most importantly honest in carrying out his or her tasks. The attorney in fact may or may not be paid but for the record most principal would choose someone close to them to act as his or her agent. Usually the principal chooses individuals close to them as the agent because this individual acts as a confidant to the principal.

When making a power of attorney form, you should decide on what type you will use. This form may be limited or special and general. The effectiveness of its power ends when the principal becomes incapacitated or incapable or even before she or he dies. In this case, the principal will be unable to grant the power needed unless the grantor or principal will state and specify that the power of attorney still have its effectiveness even if he or she becomes debilitated. In case when the principal dies, so the effectiveness of the power of attorney ends as well.

There is also the durable power of attorney which encompasses an advance directive that sanctions the attorney in fact. In this position, the agent makes decisions regarding health care of the principal which now happens to be the patient. The decisions would include terminating care; consent to give or not to give any medication or procedure or treatment. An advance directive is very much different with a living will. A living will is a written document stating the patient's wishes regarding the health condition but this does not allow the agent to make any medical decisions.

In the end, it is really very important to understand power of attorney because giving or assigning this to another individual requires a lot of understanding. Yes, it is very easy to acquire such but then it will all end up when the agent would act upon the power of attorney.

Article Source: http://EzineArticles.com/?expert=James_Kahn

Article Source: http://EzineArticles.com/4132303

Legal Document Preparation - By The People

Rene talks about how By The People Document Preparation Service in Fairfield CA can help people with uncontested legal matters in an inexpensive way. See more at http://www.bythepeopleca.com, or call 707-428-9871

LLC Vs. S Corp - Tax Help Benefits

LLC vs S Corp, what are the tax benefits of each.

Who is Entitled to a Copy of a Will?

When a person dies and leaves a will, who gets a copy of that will? Watch this video and learn more about who is entitled to a copy of a will.

By The People Can Help You with Your Uncontested Divorce or Legal Separation

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 minimum 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 other fees you will pay will be the filing fee for the court of $435.00 and a filing service fee of $50.00. 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.

Durable Powers of Attorney in Wills and Estate Planning

Planning how your estate shall be divided, distributed and disposed of doesn't only mean creating a last will and testament or putting up a trust for someone. Estate planning also means preparing for the unexpected, such as falling ill to an incurable disease or becoming incapacitated later in life. In this regard, you'll need the help of someone you completely trust to put your affairs in order even when you're no longer able to make those important decisions or even communicate your wishes. Drafting durable powers of attorney gives this person you appointed the legal means to sign documents, make decisions, and represent you in court.

The Medical Power of Attorney and The Living Will

Actually, the functions of a medical power of attorney play in tandem to the directives of a living will. They're both health care directives, but the durable power of attorney for health care focuses solely on assigning someone the legal duty to make decisions related to your illness or health condition. It needs a living will, which contains your instructions and wishes, including end-of-life decisions. Once you've lost the capacity to think or act on your own, such as when you've fallen into a coma, this durable power of attorney takes effect and hands over the responsibility for your personal health and well-being to your agent or attorney-in-fact.

You'll have tighter control over managing your living will, estate planning, and health care directives when you specify that these shall only take effect after a physician has confirmed that you lacked the mental and physical capacity. In this case, you have a springing durable power attorney in hand. The term capacity here legally pertains to a person's lack of understanding of the nature of his medical condition, the health care options open to him, and the possible consequences from making these choices. In addition, that person also loses the ability to speak out or make hand gestures to relay his personal preferences for medical care. This is where a health care declaration becomes an invaluable document in your estate planning.

The Financial Power of Attorney

Through a durable financial power attorney, you give another person - someone you fully trust to act in your best interests - the legal authority to act on your behalf. However, this power attorney for finances doesn't hand over absolute authority to your proxy. You may limit or extend your agent's legal access to your financial accounts. Generally, your financial surrogate can file and pay your taxes, manage your business, handle financial transactions in your name, access your bank accounts, claim an inheritance, collect Social Security and other benefits, and make use of your assets and properties to pay off debts and provide for your family's daily expenses.

These two powers of attorney must be specified as durable when filed. Otherwise, they won't take effect once you were found lacking capacity to think and act for your well-being. A divorce ends both documents when the agent is also the spouse. The court may revoke an agent's authority under a power of attorney for health care when it finds that the agent has acted improperly. A second person named in the document takes over as an alternate agent.

Article Source: http://EzineArticles.com/?expert=Toby_King

Article Source: http://EzineArticles.com/7489932