Disputes between siblings often arise after a parent passes away, when it’s time to divide the assets within an estate. These disputes between family members can cause costly and prolonged legal proceedings. But with a little forethought and planning, these disputes can be avoided, or at least reduced greatly. Sibling disputes over a parent’s assets can be prevented by taking steps beforehand and developing a legally-binding estate plan. No matter if your estate is modest or exorbitant, every person can benefit from writing down their wishes for how they want their legacy to be distributed to future generations. 

Parents can talk with their children now, express their wishes for their assets, and allow an opportunity for a discussion to be had. Parents can set up a trust, with a non-sibling as the trustee or executor, who distributes gifts as instructed when the time comes to do so. After a parent dies, the siblings can get help from a mediator, divide the proceeds once assets are liquidated, and defer to a fiduciary. By using a mediator, as a Montana elder law lawyer at Silverman Law Office, PLLC can attest, it can help negotiations between siblings go more smoothly while emotions are running high and they are in a state of grief. 

Planning prior to death can address issues that tend to come up once a parent has died. One of the most impactful actions a parent can take is to establish a will that outlines which sibling is to receive which property from the estate. As the parent, you may have to ask yourself questions like, who would you want to inherit the house, compared to the business, or your more highly valuable items? Your answers to these questions will be what you write within your estate plan. Alternatively, a parent can state that the house is to be sold and proceeds evenly divided. If a parent prefers to leave a sibling out of the will entirely, that is legally allowed. There are no laws that dictate rules for disinheriting a child, but to avoid that sibling from contesting the will, consider adding an explanation in your estate plan as to why you chose to leave them out of the inheritance. 

A parent can write a revocable living trust that can be updated at any point in their life prior to death, assuming they remain competent. Another way to prevent conflict is to place property in the joint name of a child and parent so that assets are given automatically to the child when the parent dies. As your lawyer can explain, this can be done for real estate, a bank account, or a brokerage account. To try and make things even more amicable, you can appoint a non-sibling as the trustee or executor, who does not have anything to gain from the choices made regarding asset property distributions.

As a New Haven, CT bankruptcy lawyer from The Law Offices of Ronald I. Chorches understands, financially distressed companies may reach a point where bankruptcy is the best path forward. When most business owners and managers consider filing for bankruptcy protection, they think about making a long, hard choice after carefully evaluating the needs of their company. However, in some cases, aggressive creditors can actually force a business, involuntarily, into filing for bankruptcy. In this post, we will explain what business owners need to know about involuntary bankruptcy.

Involuntary Bankruptcy: Chapter 7 and Chapter 11

When certain conditions are met, the United States bankruptcy code allows creditors to file an involuntary bankruptcy petition on behalf of a business. In these cases, creditors can only push a company into either Chapter 7 bankruptcy or Chapter 11 bankruptcy. For companies that have less than 12 creditors, one creditor can petition to do this alone. On the other hand, when a company has at least 12 total creditors, then a minimum of three of the creditors must agree to join the involuntary bankruptcy petition.

Why Would a Creditor File for Involuntary Bankruptcy? 

Involuntary bankruptcy is a potential debt collection tool. When a bankruptcy petition is successfully filed, it triggers an automatic stay. The automatic stay puts an immediate stop to almost all collection efforts. Certain creditors may want an automatic stay to be put in place to keep a company from transferring away all of its remaining assets, either to another creditor or to a related firm.

What Can a Business Do to Prevent an Involuntary Bankruptcy?

If a creditor or group of creditors files an involuntary bankruptcy petition on behalf of your business, you have two options.

• Accept the filing: This means the bankruptcy case will move forward.
• Object to the filing: This sets up a legal fight over the bankruptcy.

Should your company object to an involuntary bankruptcy filing, you need to get an experienced attorney by your side as soon as possible. At this point, your case will be set to go before a bankruptcy judge, who will hear both sides and determine whether or not your business is legally required to file for bankruptcy protection. Your attorney will be able to review the specific circumstances of your case and determine the best way to protect the rights and interests of your firm.

Contact a Bankruptcy Law Firm Today

If your business is going through a difficult time financially, you may be considering bankruptcy or you may be feeling the stress as creditors attempt to take legal action to force you to file. Whatever the situation you are in, a bankruptcy attorney can evaluate your situation and determine what legal options will be the best for your situation.

Call an experienced attorney for help with your case today.

Managing a business. Being your own boss. Really making something with your own hands. It’s rewarding, and every time you hear a friend complain about working for someone else, you’ll probably breathe a little easier knowing you won’t have the same complaints and concerns.

But, every business has its ups and downs. No matter how big or small your company might be, there will always be periods of profitability, and periods full of problems you may not have anticipated. As a business litigation lawyer like our friends at Eric Siegel Law can explain, sometimes those problems are legal issues that won’t go away without professional advice.

Read on to learn more about what makes a business lawyer so important for your company, and see what kinds of legal issues you might encounter when you’re managing your own business.

What Does a Business Lawyer Do?

A business lawyer performs a variety of important tasks to ensure your business is operating within the law, and to ensure your business isn’t constantly caught up in legal conflicts. Importantly, a competent and experienced business lawyer can help you focus on growing your business, instead of getting bogged down in constant disputes that only distract you from what really matters.

Preventing legal conflicts is a major part of a business lawyer’s job, but they’ll also help you through any legal issues that slip through the cracks. As a business owner, you’ll always have to deal with certain legal issues, and it’s up to your lawyer to make sure these issues go as smoothly as possible.

What Kind of Legal Issues Will I Have to Deal With?

Every business is held together with contracts. Your business lawyer will help you draft contracts that ensure your employees know what they’re getting into, and in the event of a contract dispute (more likely than you’d expect), your business lawyer can help you get through the dispute as quickly and satisfactorily as possible. Your business lawyer can also help you stay aware of any laws that pertain to your specific type of business, and can even help you incorporate your company when it’s time to grow.

What is a Contract Dispute?

Contracts are legally binding, and every contract details an exchange of goods or services. For example, if you hire a writer to write content for your website, they provide a service (writing content) and you provide goods in exchange (their pay). This is a very basic example of what a contract might cover, but there are some instances in which one (or both) parties are dissatisfied with the contract, or the work involved with the contract.

If the work isn’t done on time (or at all), it could be grounds for a contract dispute. If pay isn’t delivered, that could be grounds for a contract dispute as well. And if your contracted employee violates his or her contract in any way – whether through violating a non-compete clause or a non-disclosure agreement – it might be time to lawyer up.

You Definitely Need a Business Lawyer. Get in Touch with One Today.

A business lawyer is a valuable friend to have on your side, and the right legal team can make all the difference if you’re trying to keep your business running smoothly. Get in touch with a business lawyer today, and see how their firm can help your business grow.

Will Lawyer

If you have a dog or cat, you probably consider it a member of your family and want to ensure it is taken care of after you die. That is why it is important to include a pet clause in your will. Pets are considered property, so they can be handed down to a family member or friend after you’re gone. Here is some further information about including your pet in your will.

Selecting a Pet Guardian

The guardian for your pet will be responsible for caring for your furry family member after you are gone. As such, you should choose someone you trust. Taking care of a cat or dog is a bigger responsibility than most people think. Pets require shelter, food, veterinary care and attention. The pet guardian you select should have the space in his or her home and heart for your pet. It is a good idea to discuss your wishes with the person you want to appoint as your pet guardian. Find out if the person is actually up for the responsibility of taking care of a pet.

If you can’t think of anyone in your life that you want to take care of your pet, you may want to look into local shelters or rescue groups. You can name one of them as the beneficiary. 

Providing Instructions on Taking Care of Your Pet

Not all pets have the same exact needs. Therefore, it is wise to include instructions on how to properly take care of your dog or cat. For example, if your dog needs to eat a special kind of food for its allergies, include that in your will. Your pet’s guardian will not know how to take proper care of your pet unless you leave specific instructions.

Leaving Money for Your Pet

From food to veterinary bills, it can cost a lot to take care of a pet. That is why you may want to leave a certain amount of money for your pet’s care to its guardian. However, keep in mind that the pet guardian is not legally required to follow your instructions. Therefore, you should choose someone you deeply trust.

If you want to include your pet in your will, schedule a meeting with a will lawyer, like one from W.B. Moore Law, to discuss your wishes. 

Chapter 7 Bankruptcy Lawyer

Chapter 7 bankruptcy, also known as liquidation bankruptcy, can wipe out most of your unsecured debt and help you get a financial fresh start. If you are drowning in debt, you may be thinking about declaring Chapter 7 bankruptcy, but don’t know everything about it. Although this type of bankruptcy does have its positives, you may have to give up some of your property, and your credit score may take a hit.

Differences Between Chapter 7 and Chapter 13 Bankruptcy

Individuals who are struggling to pay down debt can either file for Chapter 7 or Chapter 13 bankruptcy. Chapter 7 allows you to clear most of your unsecured debts within a few months while Chapter 13 requires you to repay your creditors within three to five years. For Chapter 13 bankruptcy, you must earn enough income to afford the payments and be below the maximum debt limits.

How to Qualify for Chapter 7 Bankruptcy

If you want to file for Chapter 7 bankruptcy, you will have to meet several requirements first, including:

• Your income has to be less than the median income for the same-sized household in your state
• You can’t have filed Chapter 7 bankruptcy in the past eight years
• You must complete a credit counseling course within 180 days before filing
• You can’t have filed Chapter 7 bankruptcy in the past six years

What Can and Can’t Be Discharged During Chapter 7 Bankruptcy

Chapter 7 bankruptcy can typically clear your unsecured debts, such as medical bills, credit card debt and personal loans. This type of bankruptcy can’t, on the other hand, discharge other debts, like child support, student loans, alimony, tax debt and court fees.

Additionally, your creditors may object to debts from getting discharged if they were made too close to your filing date. Generally, you want to stop using your credit cards at least 90 days before declaring bankruptcy.

Why You May Consider Hiring a Chapter 7 Bankruptcy Lawyer

Chapter 7 bankruptcy can involve many complexities, so it’s wise to have a knowledgeable and experienced lawyer on your side. A Chapter 7 bankruptcy lawyer can make sure that you file all your paperwork by deadline and prevent you from making costly mistakes. If you work with a skilled lawyer, you have a higher chance of your bankruptcy getting approved.

Schedule a consultation with a chapter 7 bankruptcy lawyer Tampa, FL residents prefer, like Carolyn Secor, P.A.

Business Contract Lawyer

If you run a business, you will likely enter into multiple contracts throughout the years. Whether you enter into a contract with a vendor or employee, it’s important to have a lawyer review it. Here are some common myths about business contracts that you shouldn’t believe.

Contracts Must Include Complex Legal Jargon

When many people think about business contracts, they imagine documents with legal jargon that the average person doesn’t understand. The truth is that business contracts don’t have to have such complicated language. In fact, it’s better when contracts are clear and have simple language.

Standard Contracts Exist

Unlike popular belief, there are no one-size-fits-all contracts. Every contract is unique and shouldn’t use boilerplate language. Standard contracts may also include terms and conditions that don’t apply to your type of business. Business contracts that are too vague might not be able to address certain issues that arise between the two parties.

All Contracts Are Fair

While it would be nice if this were true, it doesn’t always work out that way. Not all contracts are necessarily fair. Some contracts may favor one party over the other. That’s why it’s crucial to have an experienced business contract lawyer on your side. A lawyer can review your contract before you sign it to make sure that it reflects your best interests.

A Written Contract Isn’t Necessary

Some businesses opt out on written contracts and just rely on hand shakes. Although this can sometimes work, you never know if something will go wrong. For instance, if the other party doesn’t pay you or is performing poorly, it may be difficult to prove that they are breaking the terms of the contract. That’s why it’s always worth the extra money to draft a written contract.

Parties Are Bound to the Terms of a Contract

In most cases, this is true, but there are exceptions. For example, if the terms are impossible to perform or would cause the party extreme hardship, they may not be bound to these terms anymore.

You Don’t Need a Lawyer

Although you can draft a business contract on your own, it’s in your best interest to work with an experienced business lawyer. A lawyer can make sure that you understand everything in the contract and that the terms reflect your best interests.

If you need help with a contract, contact a business contract lawyer, like one from Carpenter & Lewis PLLC.

How to Choose the Right Probate Lawyer

The probate process can be a long and complicated process filled with many headaches. Even a small mistake or oversight when submitting documents can result in huge delays. To ensure the best outcomes, enlisting the help of a probate lawyer should be a top priority. 

However, you’ll want to choose the right lawyer that makes the most sense for you and your case. With the right lawyer on your side, you can prevent the probate process from tying up any assets for months on end as well as avoiding hefty taxes. We’ll break down some qualities to look for when choosing your probate lawyer. 

A Lawyer with Up-to-date Knowledge 

The first quality you’ll want to look for in a probate lawyer is one that’s armed with knowledge regarding probate, trusts/wills, and estate planning. You’ll also want a lawyer with current knowledge regarding the probate process and adjacent fields. 

Although we don’t tend to think of the law as dramatically changing throughout the years, the truth is that every field undergoes changes and law is no exception. A lawyer who keeps up with their practice and who will know the current probate process is crucial. 

A Lawyer with the Right Experience 

Maybe you’ve found an attorney well-versed in the probate process and who even has a track record of winning cases. However, you’ll also want a probate lawyer who has handled similar cases as yours. Some probate cases might be more straightforward while others might require a fine bit more finesse. To establish if your lawyer has the right experience, you can ask for referrals from them, ask them questions, study other cases they’ve worked on, etc. 

How You Get Along with a Lawyer

While you’re probably not looking to become best friends with your attorney, chances are the two of you will be spending a lot of time together as you settle the probate process. As such, you’ll want to make sure you’re able to get along with your lawyer. For example, are you comfortable around your lawyer? How’s communication–is your lawyer able to expertly break down the probate process in a way you can understand? Does the lawyer understand what your desired outcome is? These are all important questions to ask. 

Does Your Potential Lawyer Have Enough Time? 

Lawyers can be extremely busy and unfortunately, settling the probate process can require a considerable amount of time. You’ll want to ensure your lawyer has enough time to devote to your case and can help you resolve the case in a timely manner. While the timeframe for each probate case can vary and outside circumstances can prolong a case, your potential lawyer should be able to provide you with an estimated timeframe. Along with this, you’ll also want to determine the lawyer’s fees and expenses, and if those fees match the budget you’re looking for. 

The probate process isn’t without its headaches, but one way to alleviate stress is by having the right probate lawyer on your side. Our friends at Carpenter & Lewis PLLC have a team of attorneys ready to assist! 

Why Should I Consider Planning My Estate? 

Estate planning isn’t just for the rich and famous. It is a really useful tool that most people can use to ensure that when they eventually pass away, their wishes are fulfilled and their family members are taken care of. All too often, when someone passes away, their loved ones are left trying to sort out how to divide up the assets and property left behind. This can lead to family tension, and arguments and even divide families into different camps. By planning ahead and writing how you want your assets divided in a legally binding document, you can avoid unintentionally creating a family feud. Perhaps even more importantly, you can identify who will handle your affairs should you become incapacitated and instruct your loved ones on what you would like the funeral arrangements to be. 

What Are The Benefits of Estate Planning?

Estate planning can help you in a number of ways regardless of how much money you have. First and foremost, it will tell your loved ones what to do in the event that you become indisposed and can no longer make decisions on your own behalf. Predetermining whether you want to be on life support and what kind of care you would like to receive can take pressure off family, who might otherwise have to guess what you would want. You can also identify who among your family or friends you want to make decisions on your behalf. Furthermore, if you have dependents such as children or a disabled family member that is in your car, your estate plan can direct who will be legally responsible if/when you pass away. 

Regardless of how much money you have, your personal assets will need to go somewhere following your death. If you own anything of value, estate planning can help you pre-determine how to divide your valuables among loved ones. Finally, estate planning can also help you plan for the funeral costs and allow you to dictate how you would like your body to be cared for following your death. You can direct where the funds will come from and how they should be spent. Funerals can be very expensive and having these details figured out beforehand can save a lot of time and stress for your loved ones. 

How Do I Get Started? 

The best way to begin is by speaking with an estate lawyer residents trust like W.B. Moore Law. A lawyer can help answer your questions and guide you through how best to settle your affairs so your family doesn’t have to later. 

Running a business successfully is a difficult task, especially if it is only in the hands of one or a few individuals. Obstacles can present themselves in the most unexpected places such as your taxes raising for firing an employee or not having the proper compliance filings with the right local or federal agency. For all of the complexities of running a business, your best chance at short term and long-term success is having a Business Consulting Attorney to evaluate your business and be there for consulting on major decisions or notices your business may face.

What is a Business Consulting Attorney?

A business consulting attorney is like a business lawyer at the Mughal Law Firm is an attorney who represents a variety of businesses in their day-to-day operations. Larger companies often can afford to hire an attorney full time to advise leadership on all aspects of the company, however, for smaller businesses, the price tag on an in-house attorney can be too high. That is why some attorneys offer this service on an as needed basis, to ensure smaller companies can reach out for their legal needs. Many newer and smaller businesses can’t afford to hire their own in-house attorney but still need legal counsel and representation and a business consulting attorney can typically help them.

What does a Business Consulting Attorney Do?

Typically, the first thing a business consulting attorney will do is evaluate your company for any potential risks. This requires the attorney to do a full audit of your market, products, staff, finances, etc. While this process may be lengthy, it is absolutely necessary to determine what risks your company may have and what potential issues could come up in the future. This is necessary for any business to be aware of and most owners are only vaguely familiar with the issues preventing their company’s growth, however, once an audit is complete, your business will have a much better grasp on what is needed to grow into its full potential.

The second thing a business consulting attorney is likely to do is provide you with on demand services. This means that there will be a set hourly price for a certain duration of time wherein you can call your business consulting attorney with any question or tasks you may need. If you are terminating an employee, need a contract drafted or reviewed, if you need to register a trademark or copyright, or for any number of business transactions your company engages in on any given day, it’s probably a good idea to talk to a business consulting attorney to make sure that your legal bases are covered. Ask your business consulting attorney. Any legal need you may have, your business consulting attorney can help or advise you. This will ensure your company is protected for the future and has the legal ground to grow unimpeded.

No one wants to be the one to have to file for bankruptcy. The truth is filings are fairly common as over 800,000 American households file for bankruptcy each year. Just like other unpleasant and scary procedures, the reputation of a bankruptcy is based on a few tidbits of truth combined with a lot of embellishment.

These misconceptions about filing often make it so people who wish to file were thinking about it simply don’t. The truth is bankruptcy is not nearly as frightening once you understand it and know that many of the misconceptions are simply not true. Here are some of the most common bankruptcy misconceptions that people still believe according to our friends at The Law Offices of Neil Crane.

1. Married Couples Will Both Have to File 

 The only reason that married couples would have to file together is if both of them are sharing the liability for the debt. It isn’t unusual for one spouse to have a significant amount of debt solely to their name and that is why, in those cases, it is best to file alone. However, if the debt is shared, then both spouses have to file. If only one spouse files the creditors can still demand payment in full from the spouse that didn’t.

2. Bankruptcy Permanently Kills Your Credit 

This misconception simply isn’t true. Yes, you can expect limited access to credit and for 7 to 10 years bankruptcy will remain in your credit report. However, the effects are not permanent. Your credit score can recover fairly quickly from bankruptcy as long as you make your payments on time and stay away from credit cards. It has been seen that those who file for bankruptcy get their credit score out fairly quickly in as little as 6 to 8 months.

3. If You Spend Recklessly Right Before Bankruptcy You Won’t Have to Pay That Money Back 

Once again, we have a misconception that isn’t true. Credit card debt is dissolved in chapter 7 bankruptcy, but that doesn’t mean you correctly spend right before you’re about to file. Courts have ruled that racking up charges ahead of the bankruptcy filing is actually considered fraud. That those incurred as a result of fraud are not discharged. This means that filing for bankruptcy will not afford you a debt free shopping spree.

4. Bankruptcy Files Are Financially Irresponsible

Out of all the misconceptions out there, this one tends to hurt the most. It is easy to wave off bankruptcy filers as reckless spenders who don’t know how to manage certain finances. More often than not, bankruptcy is not the result of personal failure. The top cause of bankruptcy is divorce, severe illness, and job loss. Many people avoid filing for bankruptcy as they fear it is the mission of failure, but the truth is it isn’t.

If you or a loved one are facing bankruptcy, we want you to know you aren’t alone. Facing bankruptcy can be scary, but with a trusted bankruptcy attorney on your side, the process can go as smoothly as possible.