Tuesday, July 29, 2014

Estate Planning : Have You Been Named in the Will?



If you are a beneficiary in a will, you will most likely receive notice after the will is entered in probate court. Learn what to do if you have been named in a will from an estate planning and probate lawyer in this free video on estate law.

Sunday, July 27, 2014

What Is a Living Will? | Financial Terms



Learn about Living Wills in this Howcast finance video with expert Gregory McGraime.

Saturday, July 26, 2014

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.

Hence, it is always advisable to consult an attorney or other legal authorities related to divorce, even while going on with the uncontested divorce, where you and your partner mutually agree to all the terms.
Uncontested Divorce.
Article Source: http://EzineArticles.com/?expert=Camy_Divine

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

Friday, July 25, 2014

An Overview of a Quit Claim Deed

The deed to a property is a legal document that establishes ownership. There are different types of deeds. Here is an overview of a quit claim deed.

An Overview of a Quit Claim Deed

Quit claim deeds are a form of deed used in the transfer or sale of property when a grantor, a person who owns an interest in the property, is essentially allowing the transfer of that property to another person. The grantors do not actually own the property but rather simply have responsibility over it. For this reason, grantors have the legal right to sell the property but there is a catch.

The quit claim deed offers little protection for buyers down the road. Although the property will be transferred to the grantee from the grantor, the quit claim deed does not legally protect the grantee from future claims to the property. The grantor does not legally own the property and so that leaves a back door open for potential future problems regarding the property.

Quit claim deeds are often used in a couple situations due to their relative simplicity compared to many of the other forms that have to be filed during property transfer and/or sales. One, the quit claim deed is used to clear up a title. And two, quit claim deeds are effective for those who want to use a simplistic method for giving up their interests in a certain property.

When used in a sale of a property, quit claim deeds can result in significant risk to the buyers of the property. However, quit claim deeds still have other uses that are very beneficial. For instance, in the case where there are multiple people who have claims to a home, such as when a relative passes away, a quit claim deed is an effective way of one of these people to legally transfer their interests in the home to another person. A divorce can create a similar situation, making the quit claim deed very useful.

It is important to be smart about which form of deed you will be using and signing whether you are a seller or a buyer. Know what the potential risks are and the protections that are being offered by the deed so as to better be prepared.

Raynor James is with the site - FSBOAmerica.org - FSBO homes for sale by owner.
Article Source: http://EzineArticles.com/?expert=Raynor_James

Article Source: http://EzineArticles.com/228866

Thursday, July 24, 2014

Limited Liability Company LLC

A relatively recent form of business allowed by state statute, Limited Liability Companies (LLCs) are popular because, as in a corporation, owners have limited personal liability for LLC debts and actions. In addition, LLCs offer the benefits of partnerships, namely management flexibility and pass-through taxation.

In most states, LLC business owners - called members - may include individuals, corporations, other LLCs and foreign entities, with no maximum number of members. Most states also permit "single member" LLCs. An LLC can be managed by either by the members or by managers. Members can be compensated using distributions of profit or guaranteed payments. In addition, because LLC profits are considered earned income, managing members can deduct 100 percent of the health insurance premiums paid--up to their pro-rata share of LLC' net profit.

Tax Treatment

Referred to by the IRS as "pass-through entities," unlike corporations, LLCs are not separate tax entities and do not pay federal income taxes. Some states impose an annual tax on LLCs, but the number of members in an LLC makes a difference at tax time:

* Single-Owner LLCs - One-member LLCs are treated as sole proprietorships for tax purposes, which means the LLC itself does not pay taxes and does not have to file a return with the IRS Single-owner LLCs report profits or losses on Schedule C and submit it with their 1040 tax returns.

* Multi-Owner LLC - Multi-owner LLCs are treated as partnerships for tax purposes, which means co-owned LLCs do not pay taxes on business income; the owners each pay taxes on their respective shares of profits on their personal income tax returns (Schedule E).

Advantages of LLCs:

* Pass-through taxation.

* Avoids drawbacks of forming a corporation, such as double taxation.

* Limited personally responsibility for LLC debts and liabilities.

* Few ownership restrictions.

* Management flexibility.

 * Minimal annual paperwork and fewer formalities than corporations.

* Members must agree in writing to authorize increased ownership in an LLC.

* Customers may view LLCs as a more professional business entity than sole proprietorships or partnerships
Interested?

Though some types of businesses (banks, insurance companies, and nonprofits, for example) usually cannot be LLCs, and special rules apply to foreign LLCs, most other businesses can become LLCs.

If you're interested, check your state's requirements and the federal tax regulations for further information. For information on filing LLC tax returns, dealing with employment taxes and possible pitfalls, refer to IRS Publication 3402, Tax Issues for Limited Liability Companies. Forming an LLC requires filing proper documentation (or "articles of incorporation" or "certificate of incorporation") with the appropriate state agency, and payment of state filing fees.

Bill Willard has been cranking out high-impact writing for over 30 years. In addition to his byline pieces, Bill’s beat includes freelance copyrighting, ghostwriting and editing jobs that allow him to use his experience and skills as a writer and editor. thefreestyleentrepreneur.com Sources: Internal Revenue Service, Bizfilings.comNolo.com
Article Source: http://EzineArticles.com/?expert=William_Willard

Article Source: http://EzineArticles.com/591132

Wednesday, July 23, 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.

Monday, July 21, 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.

If you are looking for information on LLC business in Tennessee, click on the link. Or you can visit http://www.ezonlinefiling.com/.
Article Source: http://EzineArticles.com/?expert=Pete_Morgan

Article Source: http://EzineArticles.com/7880320

Sunday, July 20, 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.

Saturday, July 19, 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:

  • 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.
Article Source: http://EzineArticles.com/?expert=Roger_Brent_Hatcher

Article Source: http://EzineArticles.com/6892614