What are the indicators of improper estate administration?
Watt law Firm Blog
by titas.sarkar@thomsonreuters.com
1w ago
Losing a loved one brings emotional turmoil, and the last thing you need is to worry about the handling of their estate. However, for many beneficiaries, nagging doubts can arise during the probate process. This blog will shed light on critical warning signs that indicate the mishandling of an estate. Whether you are a beneficiary or simply curious about the process, understanding these red flags may help protect your interests and honor your loved one’s wishes. Signs of executor mismanagement Unreasonable delays in distributing assets can indicate that the executor may be mishandling the dece ..read more
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Watch out for these 3 business contract red flags
Watt law Firm Blog
by seth.cabanban@thomsonreuters.com
2w ago
A Mississippi business can take a lot of commitment and dedication to maintain. However, a dodgy deal can suddenly jeopardize a business owner’s hard work. When entering a contract with a new party, it is important to be thorough and review all the terms to protect your business. Look out for these red flags the next time you are trying to close a deal. Contracts and deals require a keen eye Contracts are essential to business operations, but they can also be detrimental without careful examination. It may be a sign to carefully reconsider a deal if you notice these things regarding the contra ..read more
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What are risk items to watch out for in a commercial lease?
Watt law Firm Blog
by riosteven.rodrigues@thomsonreuters.com
1M ago
Lease management is crucial to prevent issues, such as unexpected terminations and overcharging for rent. These problems may lead to serious financial issues and interruptions in operations. It is wise to keep track of the risk items in your commercial lease to avoid expensive fees and protect your credibility. Commercial lease risk items Payment terms are crucial elements of a commercial lease. When signing the document, note the details of your payment terms and rent obligations. Keeping track of this relevant information can be tricky since they appear in multiple places in a lease. The key ..read more
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Can creditors sue to claim assets in a trust?
Watt law Firm Blog
by bkabritsor
1M ago
A major appeal of a trust is that it allows you greater control over how you distribute funds and property to heirs. You may also have heard that a trust offers greater protection from creditors who might contest your estate to claim its assets to repay debts. While a trust can ward off attempts by parties to claim your money for debt compensation, it is not always an infallible method of protection. There are reasons why a creditor could be successful in securing trust money to fulfill a debt. Revocable trusts and creditor access Revocable trusts do not protect assets from creditors. You main ..read more
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Legal remedies for fiduciary duty breaches in business ownership
Watt law Firm Blog
by bkabritsor
2M ago
Breaches of fiduciary duty can cause serious harm to business ownership. The damages can include financial loss and broken relationships. Knowing the legal remedies available can help protect your rights and interests. Understanding fiduciary duty Fiduciary duty means that certain individuals must act in the best interest of the business and its stakeholders. This includes duties of loyalty, care, and good faith. Breaching these duties might involve fraud, self-dealing, or neglecting responsibilities. Legal remedies Breaches of fiduciary duty often result in litigation. Several legal remedies ..read more
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Selling commercial property in Mississippi
Watt law Firm Blog
by bkabritsor
2M ago
Selling commercial property involves more than finding a buyer. In Mississippi, you need to know specific legal steps to ensure a smooth process. Understanding property zoning laws Zoning laws are crucial when you sell property because they dictate how you can use the property. Make sure the property’s use aligns with zoning requirements. If it doesn’t, you might need to apply for a zoning change, which can take time. Title and ownership issues Check the property’s title before selling to ensure there are no liens or legal claims that could disrupt the sale. Also, verify that all property reco ..read more
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How to handle business disputes in your Mississippi business
Watt law Firm Blog
by bkabritsor
3M ago
Running a business in Mississippi comes with many challenges, and among these are the inevitable business disputes that can arise. Whether these disputes involve partners, employees, customers, or other businesses, handling them effectively is important to maintaining a stable and profitable business environment. Disputes can range from minor disagreements to major conflicts that could threaten the viability of the business if not managed properly. Communicate openly and effectively Open communication is the first step in resolving any business dispute. Engage in a direct conversation with the ..read more
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How to navigate probate without a will in Mississippi
Watt law Firm Blog
by bkabritsor
3M ago
Probate is the legal process of administering a deceased person’s estate to distribute assets and settle debts. In Mississippi, when a loved one passes away without leaving a will, the probate process can become more challenging. Identify the administrator The first step in navigating probate without a will is to identify the administrator of the estate. The administrator, also known as the personal representative, is typically a family member or close relative of the deceased. In Mississippi, the court will appoint an administrator to oversee the probate process and manage the distribution of ..read more
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Why businesses should consider an environmental audit
Watt law Firm Blog
by bkabritsor
4M ago
In today’s eco-conscious world, many people prioritize caring for the environment. Besides private citizens, business leaders also want to take action. An environmental audit is a tool that companies use to measure their impact on the planet. There are many reasons for corporations large and small to hire someone capable of performing one of these assessments. Compliance with regulations Environmental laws vary by location. That said, they usually aim to control pollution and increase the use of renewable resources. An environmental audit helps organizations verify they are sticking to these m ..read more
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What are the obligations of an estate executor?
Watt law Firm Blog
by bkabritsor
4M ago
An estate executor is an important part of the administration of a deceased person’s estate. The executor is responsible for carrying out the wishes of the deceased person and ensuring that the distribution of the estate is according to the law. Creating an inventory An estate executor must locate and manage the deceased person’s assets. This includes gathering information about the assets, such as bank accounts, investments, real estate and personal property, to create an inventory. The executor must also determine the value of the assets, which may require appraisals or other professional as ..read more
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