The laws that govern probate proceedings and estate planning are slightly different in every state. Some states recognize specific documents that others do not, while most states impose specific requirements on documents if someone wants them to stand up under scrutiny in probate court. Many adults thinking about the future needs of their loved ones and property after they die will choose to put together a will as the primary instrument in their estate plans. Sometimes, those who are unfamiliar with state law might think they have created a valid will when all they have is a document that the ..read more

A health care directive should be part of everyone’s estate plan. Even if you’re young and healthy and have more student debt than assets, if you’re at least 18, you should have a health care directive and name someone as your health care agent. This agent will have the authority to talk with your medical providers if you’re unable to do so. Once you’re legally an adult, your parents can’t automatically make health care decisions for you unless you authorize them to. The same goes for spouses. One all-too-common scenario that can make an already tragic situation worse is when a person is serio ..read more

You have a contract with another business or an individual because you made an agreement with that party. That contract includes information about what you promised one another and creates a record of your agreement. Unfortunately, people sometimes sign contracts with no intention so following through with their promises to others. If you find yourself in a situation where you believe that the other party has violated your contract, you may have grounds to take them to court. Judges can uphold contracts, invalidate agreements and even award damages after a material breach of contract. How can ..read more

Every adult should have estate plans in place, but not everybody has to take the same approach. Wills and trusts are two different paths you can use to achieve your goals, but they have vastly different implications for your estate. What’s the difference between a trust and a will? Which one is right for you? Here’s what you should know: Wills and trusts aren’t mutually exclusive A will is a document that leaves instructions for the distribution of your assets after you die – and it can be used to do other things, like appoint a guardian for your minor children and outline your wishes for your ..read more

Real estate developers are often interested in looking at anything possible that can protect their financial position. One such option is considering adding a lien waiver during a project. In some ways, you can think of a lien waiver as a receipt. It is tied to the payments that have been made, and it asks the other party to waive their right to file a mechanic’s lien. This can be done at multiple points in the project, but a waiver signed at one point can impact other phases of the same project. How it works These are very common documents in the construction industry. They’re often used with ..read more

A surprising number of new parents don’t think of estate planning as a crucial step when preparing to welcome a baby to the family. However, the typical family does benefit from having written protections in place for minor children still dependent on their parents. If anything were to happen to you and the other parent at the same time, like a car crash, your children could be left without protection. It is only through careful advance planning that parents can protect their children from poverty and unfortunate experiences if something unexpected happens while the children are still young. H ..read more

One thing you don’t want to have to deal with in a real estate transaction is a breach of your contract. In any real estate transaction, the contract binds both parties to a series of terms and conditions. If those are not followed, then the contract is breached and may no longer be valid. There are several common issues that lead to breached contracts. Some of the most typical include: Missing a date when a payment was meant to be paid to a contractor Failing to deliver the deed at a predetermined date Failing to finish the property by the end of the contracted period If you run into issues w ..read more

You certainly hope that your parent has an estate plan ready and waiting. You don’t want to have a string of estate disputes with your siblings and other beneficiaries. You don’t want there to be any confusion over what is supposed to happen to the assets. At the same time, though, this is a bit of a sensitive subject to bring up. Maybe you don’t know if they’ve done any estate planning and you’re curious. How can you talk to them about it? Learn as much as you can in advance The more you know about estate planning going into it, the more beneficial this conversation is going to be. For instan ..read more

As a business owner, you are going to have needs that change over time. Legally speaking, you may want to work with a firm that you trust and can build a relationship with because your legal needs will change as your business expands and grows. Your business may start with the basics, such as creating your business plan and setting up your tax and business structure. Then, as you grow, you may decide to hire employees. You may have vendors you want to contract in to work with you or need to look into getting workers’ compensation insurance. These and other legal needs are a normal part of runn ..read more

You’ve worked hard to make your business as successful as it is. You poured your time and energy into it, not to mention your money. You’re passionate about this company and you want it to succeed. However, you know that that success could be hampered by a number of legal threats. What are some of these potential issues and what can you do about them? A dispute with your partner One of the most common legal threats is when you enter into a dispute with your business partner and the two of you cannot resolve it. In larger companies, things like this often get put to a vote, but two business par ..read more