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- Are You Ready to Exit Your Business? But Is Your Business Ready?
by NM Law, APC
Let’s say that a buyer came to you and offered you plenty of cash for your business that would give you total financial security…would you sell?
- What Happens if I Need a Guardian?
A guardian is a person who is given legal authority over another person because of reason of incapacity. If a court determines that a person is unable to make decisions for himself or herself, it may appoint a guardian. A guardian can be given authority over the person, his or her assets or both. The process involved in appointing a guardian is dependent on state law and the circumstances.
- Saving Private Practice: Preserving Income after Departure
by NM Law, APC
A professional practice (dental, medical, legal, etc.) is unlike any other type of business in that it is not freely transferable and it cannot be owned or operated by someone who is not a licensed member of the profession.
- Estate Planning for Young Families
Individuals who have young families have special considerations. They often need to take specific and direct steps to protect their spouse and children. While many individuals postpone estate planning until they are older, doing so can lead to disastrous consequences.
- What Is the Application of Dower and Curtesy?
Dower and curtesy are antiquated terms that refer to married spouses’ property rights. These rights most often arise in situations involving death and inheritance. However, they may also arise in other contexts and may prevent one spouse from selling or transferring property without the consent of the affected spouse.
- Problems with Using Fill in the Blank Wills
Some office supply stores and websites offer inexpensive fill-in-the-blank wills that seem like an affordable alternative to having to pay an estate planning lawyer. However, these generic documents are often not a suitable do-it-yourself alternative. Failing to hire an estate planning lawyer can result in disastrous consequences.
- Treating Children Fairly in Wills
Many individuals leave an inheritance to their children. They may be concerned about how to treat their children fairly in their wills in order to avoid hard feelings or bitter battles between siblings. Some considerations to this topic include:
- How to Account for Property in Another State
In today’s mobile world, many people own property that is located in other states. They may own a vacation home or may keep certain personal property in another state than the state where they currently reside. This property must be carefully accounted for in a person’s estate plan.
- Contract with a Funeral Home went Against My Wishes, Employer gave Decision, I Don’t Understand Why
When someone dies, it is important to understand what wishes must be adhered to, and who is responsible for final rights and preparations. This may depend on the state, if an estate plan was in existence at the time of death or if the parents are given the choice.
- What is a Small Estate Administration Process?
When a person dies, his or her will is submitted to the probate court. The process that follows includes having the will probated, notifying heirs and creditors of the decedent’s passing, paying off debts and distributing the property to the heirs or beneficiaries. This process can often be long, exhaustive and expensive. This is why many people use the small estate administration process.