HG.org Legal Resources

Business and Industry Law Articles

Articles written by lawyers and expert witnesses worldwide
explaining the different aspects of Business and Industry.


Will Your Funeral Be What You Wanted It to Be?

For many of us, how our funeral is handled when we die is important. You may have very specific ideas about what type of service you want and whether you wish to be buried or cremated. Although you may have expressed your desires to family members or loved ones, there is no guarantee that those desires will be taken into account when you actually die.

Legal Professors Examine DIY Last Wills

When you are looking for the facts with regard to products and services a highly respected go-to resource is Consumer Reports. Their website and their hard copy magazine are great sources of information, and their research is conducted in a totally objective and unbiased manner.

Challenge to Actor's Will Demonstrates Probate Pitfall

People sometimes choose to take steps to enable the future transfer of their assets to their loved ones outside of the probate process. When you use a last will your estate must be probated, and there are certain pitfalls that go along with this course of action.

Legal Professors: Do-It Yourself Notions Not a Viable Substitute

Consumer Reports magazine tackled a subject that is near and dear to estate planning attorneys recently and we would like to pass along the results. You may be aware of the fact that there are some websites on the Internet that will provide visitors with do-it yourself estate planning documents.

Money Laundering, Asset Forfeiture and Recovery and Compliance Country Report: Turkey

Turkey, even restructured its banking sector several times, has still not made sufficient progress in money laundering and compliance legislation for improvement of the inspection obligations. In particular due to its location bridging Europe to Asia attracts the foreign criminal organizations of migrant smuggling, terrorism and narcotics. Turkey hosted many brass plate companies in the past set for the purpose of placement, layering and integration of laundering transactions by 1990s.

Honoring Your Last Wishes – Are You Sure Your Family Will Do So?

When it comes to honoring your last wishes regarding your funeral and burial, are you sure that your family will do so? What if you want to be buried in an Elvis costume? Or maybe you want to be cremated and your wife doesn’t believe in cremation. It could be that you have always wanted an Irish wake when you die but your family cannot imagine such a thing.

Trusted Source: Do-It-Yourself Last Wills Are Not a Good Choice

Estate planning attorneys will tell you to take pause before assuming that you can simply and easily execute your own estate plan using downloads that you purchase off the Internet. While the discerning individual may see the obvious logic here, there are those who take a more cynical approach. They suggest that attorneys would guide you away from these do-it-yourself resources because they are in the business of drawing up legally binding documents for their clients.

3 Tips for Vacation Planning and Your Estate Plan

The average American probably spends a lot more time planning for a vacation than they do planning their estate. If you haven't already done so, vacation planning can provide you a good reason to begin your estate planning efforts. All you have to do is think about what might happen to you and your family if an emergency should arise while you are on vacation.

Co-Ownership of Property and Avoiding Probate – 3 Questions

Question 1: Are There Different Types Of Co-Ownership of Property? Yes, and not all types of property co-ownership avoid probate. The different ownership types include tenancy in common, joint tenancy with right of survivorship and tenancy by the entirety.

When You Need to Update Your Will, Use Caution

If you have created a last Will and testament you know that it took some time and effort to create a document that served your individual situation and your desires. Likewise, if you have experienced a significant life change or have changed your mind about your will decisions, you should know that making changes to the will may also require the same attention to detail.

Early Action Leads to Comfortable Retirement

When you are a young adult you have a unique opportunity. You can make the choice to begin saving for retirement early on during your career. If you do you will be very happy about making that decision later on.

Help Relatives Now, Reduce Future Tax Burden

Success is the name of the game, but unfortunately the fruition of your financial goals can present some tax challenges. If your assets exceed a certain amount after you pass away your heirs are potentially subject to the Federal estate tax.

Scratch Below the Surface before Using Joint Accounts

There are times when you may hear someone make the case for a simple solution to a complex problem and find yourself buying into this self-styled notion. When it comes to estate planning, you would do well to scratch below the surface and think long and hard before adopting pseudo-solutions that may be too good to be true.

A Grandfather's Privacy

A client recently shared a story with me. He explained that when he was a young child, he used to spend a lot of time at his grandparents' house. They always treated him kindly and had fresh, homemade food. He loved his grandmother's pickles. As he got a little bit older, he started asking them about various things. They always did their best to answer his questions. Looking back, he said that many of their answers were not exactly accurate, but they were not harmful either.

DIY Savings Can Be Costly in Long Run

Sometimes you make a decision that seems like an economical one at the moment, but this attempt to save money can actually have the reverse result. In the end unintended consequences can arise and they can sometimes be extremely costly. This is something to keep firmly in mind when you are thinking about constructing an estate plan on your own using an online download of some sort.

Joint Accounts? It's Not That Easy

There are those who decide that opening a joint account or accounts is a substitute for a properly constructed estate plan. After all they reason, if you have a last will professionally drawn up you will be choosing an executor. This is going to have to be someone that you trust to take care of things in accordance with your wishes.

Do You Have a Spendthrift Heir?

If you have a spendthrift heir you may want to take steps to make sure that this family member does not burn through his or her inheritance too quickly. Once you are gone this inheritance can be the only thing standing between a particular individual and extreme financial hardship, so the stakes are high.

The Hungarian Holding Company Regime: It Offers Everything and a Little More

When the tax planning departments of multinational enterprises look for favorable locations for holding companies they mostly end up in using Dutch, Luxembourg, Cypriot and Maltese companies. Only few of them know that the Hungarian holding company tax regime, introduced in 2006, offers basically all the advantages that the customary holding locations do. It is also not widely known that the Hungarian system has a unique feature which allows even more flexible and broader use.

California Labor Law: Checklist for Determining an Independent Contractor vs. an Employee

According to California labor law, the IRS has developed a checklist to distinguish between an independent contractor vs. full time. Understand this list to avoid any conflict between employee or contractor distinctions.

Venture Capital Law in Switzerland

A Q&A guide to venture capital law in Switzerland which gives a high level overview of the venture capital market; tax incentives; fund structures; fund formation and regulation; investor protection; founder and employee incentivisation and exits. This article was first published in the PLC Multi-jurisdictional guide to Venture Capital Law 2012 and is reproduced with the permission of the publisher, Practical Law Company.

Why Do Estate Planning Attorneys Not Provide Their Pricing Upfront?

When a person calls an estate planning attorney, they will likely ask for the cost of their services. Instead of getting an upfront price you are given a range of prices, but why does an estate planning attorney not offer upfront pricing?At first it may seem like the attorney is hiding something, but there are valid reasons as to why giving an upfront price is not an option for estate planning attorneys.

Wartime Veterans May Face Look-Back Period

There are certain benefit programs that senior citizens often rely on such as Medi-Cal that have upper resource limits. You cannot qualify for the program as a way to pay for long-term care if you have countable assets that exceed a certain amount. As a result, Medi-Cal planning can include giving away resources to your children and/or grandchildren as a way to stay within the limits. After all, they would be inheriting these resources anyway after you pass away.

Kinkade Estate Battle Could Last a Year or More

A lawyer involved in the Thomas Kinkade estate battle has said that the case could drag on for a year, and possibly more, according to a story in the San Jose Mercury News. The attorney ,Douglas Dal Ceilo, says that it could be a year or more before the California probate court hears oral arguments on whether the handwritten notes purported to be Mr. Kinkade's constitute a valid last will and testament under California law.

Don't Sleep as Tax Hikes Near

As they say time flies,and it is kind of hard to believe that we are so far into 2012 already. This is a very interesting year on a number of different levels and coming changes to the tax code are among the points of intrigue. You may remember that the Bush era tax cuts were scheduled to expire at the end of 2010.

How to Set Up a Foreign Invested Consulting Limited Company

Here is described the working process for setting up an advising company in China. I. Company Name - **** Consulting (Shanghai) Co., Ltd - II. Business Scope Trading Information Consultating, Enterprise Management Consultation, Investment Consultation, International Economical Information Consultation, others...

How to Set Up a WOFE in the Free Trade Zone in Shanghai, China

Time estimated to set up a WOFE in the Free Trade Zone in Shanghai: 2 to 3 months. I - Investors - Individual or corporation from foreign countries or China Hong Kong, Macao and Taiwan. No special requirement. II - New Company Name - Chinese Name: ***** International Trading (Shanghai) Co., Ltd English Name: no limit.

Protecting Your Company's Legal Health

Introduction Avoid Problems with Preventive Law Smart business owners and managers reduce costs and avoid legal problems with preventive law practices. With the help of their lawyers, businesses can avoid disputes, injuries, and damage claims and can help strengthen their defenses when lawsuits are unavoidable.

Doing Business as a Limited Liability Company

Introduction Limited liability companies offer investors and business owners a new alternative for doing business. Although limited liability companies have existed in some states for more than ten years, they did not become popular until the Internal Revenue Service began to tax them as partnerships rather than as corporations. Limited liability companies provide the limited liability of corporations without many of the corporate formalities.

Collecting Accounts Receivable and Business Debts

Introduction - The Legal Aspects of Credit and Collections - To succeed, businesses must be paid promptly and in full. With the help of their lawyers, business owners and managers can collect promptly and protect their rights regarding credit and collections. This pamphlet reviews the legal aspects of credit and collections, including credit checking; collection letters, and collection lawsuits.

When Parents Reach Old Age, Bringing Up Finances Can Be Difficult

As life spans continue to increase and more people are living in extended family environments,many are having to deal with financial issues that affect their elderly parents. In many situations these financial topics can be a taboo subject in the family, especially when the elderly parents have a lot of pride and are reluctant to speak about financial difficulties.

Estate Planning Tips for Your Vacation

Whether you took a summer vacation this year,are planning on traveling for Labor Day,or are planning some time away for the holidays you probably didn't give much thought to estate planning when making your vacation plans. This is natural,but it's also a prudent choice to spend a little time thinking about what might go wrong and whether you'll be prepared.

Court Reporting Goes Digital in Florida

Digital court reporters in Miami and Coral Gables are not computers but they sure rely on them. The world has changed substantially in recent years for business owners. In order for a business to be relevant and successful in these competitive times it is necessary to make changes and adapt to your environment.

If You Want a Brooklyn Bagel, Go to Brooklyn, not Palm Beach….

Any Floridian bagel junkie will know that Brooklyn Water Bagel company is for producing the ‘best’ bagels on the east coast, made with New York City's famously pure tap water. Recently, however the Palm Beach County company claimed it had nailed the secret of how to make locally baked bagels taste like those from up coast. The secret; there is no secret.

Minors and Conveyances

Mary Smith contacted me to assist her in the sale of a vacant lot owned by both Mary and her son, Michael. Mary originally went to a local title agency and was advised that she cannot complete the sale because her son is a minor – i.e., under the age of 18 years. Mary owns a 50% interest in the property, and her 17 year old son, Michael, owns the remaining 50% interest. They have a Buyer ready to purchase the lot for $25,000.00.

How Can I leave Money to My Grandchildren without Spoiling Them?

Anyone with a substantial amount of assets eventually asks this question.Wanting to protect and provide for your grandchildren when you die is certainly understandable. However, spoiling them may not be in their best interest. The object then becomes creating an estate plan that provides for your grandchildren without making life too easy for them. With a little bit of thought and the proper estate planning tools you can accomplish your goal.

How to Pass Down a Large Inheritance and Not End Up With a Spoiled Beneficiary

Knowing that you are in a position to leave behind enough money to provide for your loved ones when you die is a wonderful feeling. However,it can also be the source of concern though because handing over a large sum of money to someone can create as many problems as it solves.If you want to provide for a loved one without spoiling him or her, consider utilizing some of the following estate planning steps and tactics:

Is a 55% Death Tax Fair?

Some people within the estate planning community call the estate tax the "death tax" because it is a tax that is levied because you passed away and for no other reason. The assets that comprise your estate are simply your real and personal property you accumulate while you are living.You paid taxes along the way and these assets are what you were able to hold onto after paying them. They are not taxed again while you are alive.

New Study Reveals Deadly Risk of Loneliness

Adding to the increasing mountain of evidence which shows that remaining socially connected and interacting with others is key to maintaining your health as you get older researchers in California have recently revealed the results of a study which showed that seniors who feel lonely are at a significantly higher risk of dying than those who do not.

Many Ignore Words to the Wise

When it comes to retirement and estate planning a lot of people in America seem to be ignoring the advice that is routinely and constantly given by experts. Statistics are continually being presented that indicate a lack of retirement preparedness among the baby boomer generation. And of course if you are not in a position to retire comfortably you will not be in a position to leave behind significant resources to your loved ones after you pass away.

Some Observers Decry Estate Tax Rate

Where do you draw the line when it comes to a tax rate? This is an ongoing question that is always being debated among lawmakers. However, even the most zealous pro-tax advocates may have to concede that a tax that consumes the majority of the resources in question is a bit excessive. This will be the case with the federal estate tax in 2013, assuming the laws that are in place as of this writing remain in effect.

Arizona Court of Appeals Upholds Damron Agreement and Declares Facts in Stipulated Judgments

The Arizona Court of Appeals recently upheld as valid and enforceable a Damron Agreement in which an insured and its excess insurer assigned their rights against a primary insurer. In so holding, the Court of Appeals made the significant declaration that an insurer who refuses to defend is bound for purposes of coverage by any issues determined in a stipulated judgment that underlies a Damron Agreement.

Understanding Intellectual Property is Critical to Proper Due Diligence

Technology invades almost every aspect of our life and as a result intellectual property rights are valuable and complex. While traditional assets are usually easy to identify, IP assets are not. As an IP litigation attorney, Maria Crimi Speth has seen the problem from all perspectives.

Shareholder Buy-Sell Agreements for Veterinary Corporations

In this article I explain shareholder buy-sell agreements for veterinarians and veterinary corporations. A buy-sell agreement (also called a shareholders agreement) protects the corporation from the veterinarian / shareholders, specifically their death, loss of license, disability and dispute.

Veterinarian Employment and Independent Contractor Agreements

In this article, I first discuss when a veterinarian is a contractor as opposed to an employee. Second, I look at the essential terms of a veterinarian employment contract and a veterinarian independent contractor agreement. Is you is, or is you ain’t, a contractor? From time to time, to generate revenue, the IRS and CA EDD will audit your veterinary practice.

Legal Compliance Checklist for a Veterinary Corporation

In my last article, I ask the threshold question, Should you incorporate your veterinary practice? In this Article #2, I give you a legal compliance checklist for your veterinary corporation. Incorporating a veterinary practice can feel overwhelming. There are so many unknowns to cause you anxiety. I write this checklist to fill in the unknown. This checklist gives you a bird’s eye view of legal compliance for your start-up veterinary corporation.

Should you incorporate your veterinary practice?

In part one of this series, I answer the question, should you incorporate your veterinary practice? What are the costs and benefits of forming a veterinary corporation?

How Can a Non-Turkish Company Open a Bank Account in Turkey?

This article summarizes what should a non-Turkish company should do in order to open a bank account in Turkey. Business has been truly global for years. Nowadays, any company having a computer with an internet connection is theoretically capable of doing business worldwide. In such a world, Turkey, with its strategic geographical position, may instantly become a commercial hub for many companies having no presence in it.

Foundation of JV in Russian Jurisdiction

  By DS Law
Deciding on a joint venture’s location (joint venture vehicle) is one of the most important steps in the planning and structuring of a joint venture. Such a decision generally depends on different factors, including but not limited to preferable tax regime, flexible corporate legislation, commercial benefits, cost of incorporation and management, nationality specifics, accounting requirements and many others.

Company Sale: Limited Opportunities, Unlimited Liability - Hungary

With the amendment of the Bankruptcy Act of Hungary, from 1 March 2012 the legislator has significantly expanded the scope of such circumstances when the unlimited liability of the former shareholder of a company can be established. The present article wishes to highlight those circumstances when the unlimited liability of the former shareholder of a company can be established and the ways how such liability can be avoided.

Keep Bills Low during Retirement

Statistics indicate that a significant percentage of people who are reaching their 60’s are not financially prepared for retirement. Indeed,there are no guarantees, and you have to plan ahead intelligently and pragmatically if you want to be able to retire in relative comfort.

Retirement is Expensive - Are You Getting Prepared?

Retirement should be looked at as an expense that you must prepare for well in advance. As the baby boomer generation reaches retirement age,statistics are indicating that a very significant percentage of these individuals are never going to be able to retire due to a lack of preparation.

Finances are Key

Estate planning extends into areas beyond arranging for the eventual transfer of your monetary and physical assets to your heirs. All of the eventualities of aging should also be taken into account because people usually don't pass away suddenly without experiencing any health difficulties beforehand.

Extend a Hand, Reduce Tax Exposure

If the value of your estate is such that you will be exposed to the estate tax, you may want to consider transferring resources to family members who are in line for inheritances while you are still alive. There is a gift tax in place to stand in the way of this practice for the most part, but there are certain exemptions. Among them is the $13,000 per year, per person exemption.

Turkish Tobacco and Tobacco Products Markets from a Legal Standpoint

This article provides an overview of the Turkish tobacco legislation. Law No. 4733 Regarding the Organization and Duties of the Tobacco and Alcohol Market Regulatory Authority (the “Law”) sets forth the general principles applicable in four markets in Turkey, which are (i) tobacco market, (ii) tobacco products market, (iii) alcohol market and (iv) alcoholic beverages market.

Liaison Office Regulation Amended in Turkey

The Regulation governing the liaison office opening procedures in Turkey was recently amended. This article discusses the main changes brought about by the amended Regulation. In accordance with Turkish law, establishment by a foreign company of a liaison office in Turkey is governed by the Law No. 4875 on Foreign Direct Investments (the Law).

Keeping Active After Retirement With a Part-Time Job

As thousands of baby boomers enter retirement every day, many of them are finding their ideas of what retirement would be like are very different than the reality. It comes as a shock to many people to find that they actually enjoy working and their lives are more fulfilling if they find a part-time job once they retire. Here are several possible choices you may want to consider if you're itching to get out of the house and take on a part-time job.

Planning is Key for GLBT Community

People who are involved in long-term, committed, same-sex relationships may not get legally married in the state of Ohio. However, you do have the legal right to assert your wishes, and you must take advantage of this right if you want to make sure that your partner is provided for after your death.

Elder Financial Abuse

While much effort has gone into bringing public awareness to the prevalence of child abuse over the last few decades, the frequency with which the elderly are also abused is just beginning to come to light. In many ways the elderly can be considered as vulnerable as a child, making them an easy target. The elderly are often victims of physical or emotional abuse; however, unlike children, the elderly are also prime targets for another type of abuse – financial abuse.

Are You Responsible for Your Parent’s Care?

In some sense, most of us feel emotionally or culturally responsible for taking care of our aging parents in both a physical and financial sense however, did you know that you may be legally responsible for their care as well? If you did not know that then you are not alone—most people are not aware that they may have a legal responsibility to provide financial care to a parent. This legal obligation stems from state filial responsibility laws.

Super PACs vs Other Types of Non-Profits

Super PACs are starting up everywhere, but many of them would have been better off as a 501(c)(4). Do you know the difference? Do you know the burdensome federal reporting requirements for Super PACs? This article will give you some insight into the best way to structure the formation of your non-profit organization, given your objectives.

Think Before Challenging an Estate Plan

The first reaction that most people have when they learn that they have been cut out of a deceased relative's estate plan is to want to fight. It's an understandable reaction and it is natural to be angry about not receiving an inheritance that you feel entitled to receive. However, it is best to take some time to think about what you stand to gain from a challenge to the estate plan before you start the fight.

What About Your Email?

How often do you use your email account? I bet a lot more than you did 5 years ago. You probably have some important business that is conducted almost exclusively by email. That is just the way the world has developed. What happens to those emails when you pass away? The answer to that question is unclear.

Don't Procrastinate When Updates Become Necessary

Procrastination is a big problem when it comes to estate planning, and truth be told making final arrangements is indeed a unique endeavor. Passing away is without question the last thing on your list of things to do. It's easy to put estate planning on the back burner because it can seem like you will always have time to take care of it later.

Retirement May Not Come Easy

If you sit around waiting for retirement to arrive you may be waiting for a very long time. As the baby boomers reach the typical retirement age far too many of them are finding out the hard way that retirement does not come easy. While it is true that we have safety net programs in place such as Medicare and Social Security you are probably not going to get very far on your Social Security check alone.

The LLC, Not Just Another Corporation

When it comes to pleading the citizenship of an LLC, Fifth Circuit law regarding diversity jurisdiction is both well settled and rarely followed. In theory, it seems simple: for diversity purposes the citizenship of a LLC is determined by the citizenship of all of its members. In practice, however, many attorneys treat LLCs like corporations by alleging the entity’s state of incorporation and principal place of business.

Trust Administration: An Overview

There is no reason to automatically assume that you should use a Will when you are considering estate planning. A Will can seem like a simple document but it can yield some not-so-simple results. If you utilize a Will your estate will be probated at your death. This process takes place under the supervision of the probate court and it can be quite time consuming, expensive, proceedings are public. Your estate may have multiple probates if you have interests in real property in multiple states.

Kinkade Estate: Handwriting Analysis Suggests Intoxication

You have to be aware of the possibility of challenges to your estate planning documents when you are making preparations for the future. This is especially true if there are more than one set of documents circulating. As a layperson, do you know how to go about updating an existing estate plan on your own? It is likely that your answer will be no, but this is what the painter Thomas Kinkade apparently attempted to do before he passed away.

On the Way to the New Height: Walmart’s Acquisition of Yihaodian Cleared on Conditions in China

The global retailing giant Walmart announced in February that it would further acquire 33.6% interest in Yihaodian, a leading B2C e-commerce company in China. Before the investment, Walmart already held 17.7% interest in Yihaodian. The new deal is subject to government regulatory approvals, including antitrust approval from the Chinese anti-monopoly regulator, the Ministry of Commerce (“MOFCOM”). On 13 August 2012, Walmart announced that it has received conditional approval from MOFCOM.

Conducting Depositions in Japan per Letters Rogatory

Today’s business world has become very global. So it makes sense that more and more litigation involving business would be global as well. Lawyers try to find critical evidence, which can reside outside the boundaries of the U.S. The question often becomes…What do I do next?

State Aid Schemes to Support Investment Promoting Regional Development - Romania

Despite the current political turmoil the new Romanian Government has already passed legislation aimed at improving the investment climate. In the Official Gazette no. 563 of August 9, 2012 was published Government Resolution no. 797/2012 (“Resolution”) setting up a State aid scheme to support investments promoting regional development using new technologies and which created new jobs.

Implications of Ohada Law on the Business Incorporation System of the Democratic Republic of Congo

The Democratic Republic of Congo (DRC) has recently acceded to OHADA (“Organisation pour l'Harmonisation en Afrique du Droit des Affaires”), which will render OHADA legislation applicable in the DRC in September 2012. This article discusses some implications matters of the Ohada law on the doing business in the DRC. It also discusses the issues investors in the DRC should consider with regard to the compliance of existing commercial companies with OHADA law.

Will Everyone See Eye to Eye After Your Passing?

Sitting down to express your wishes in writing may seem like the only thing to take into account when you are planning your estate. However, your decisions are not going to exist in a vacuum they are going to impact the people that you will be leaving behind.

Form PF: Essential Guide - August 2012

  By Murray LLP
Some of the largest hedge fund managers will shortly make their initial filing for the Form PF, on August 29, 2012. This guide will recap on the previously announced and finalized Form PF obligations and provide an update on the most recent developments.

Alzheimer's Looms -- Action Required

We have all heard of Alzheimer's disease, but it can be surprising to learn about just how widespread it has become. The Alzheimer's Association does a lot of work drawing attention to this plague on our nation's elderly, and they offer some rather eye-catching statistics. They have found that one out of every eight people who have reached the age of 65 has Alzheimer's disease.

Easily Misused Estate Planning Terms

Wills and Living Wills are key parts of any good estate plan. However, though the two sound similar they serve very different purposes. A Living Will states your choices for the kind of medical care you want to receive if you become sick or injured and are unable to talk.

Things Get Old

Sometimes you can get a little bit of extra life out of something old. Have an old computer? Put Linux or an earlier version of Windows on it and you can keep using it for awhile before it dies. Have an old car? Keep it tuned up, and it will drive for a long time. Have an old TV? It will still work fine for standard definition television.

Guide to Doing Business in New York

  By Murray LLP
Doing business in New York can be performed through a number of legal structures ranging from sole proprietorships to corporations. This advisory provides basic information on the different legal forms and the services that can be offered by Murray LLP for your business.

Forming a Limited Liability Company (LLC) in New York

  By Murray LLP
One of the most common forms of conducting business in New York is through a Limited Liability Company (LLC). This short article will cover some of the basic features of setting up a New York LLC. In New York one of the most common forms of entity for operating a business is a Limited Liability Company (commonly known as an LLC). Depending on the circumstances it may be an appropriate entity to choose when establishing a business or other undertaking in New York State.

Estate Planning Questions That May Make You Uncomfortable

Your estate plan is intended to be an individual, and highly personal, set of documents. Your estate plan decides some of the most important issues and makes some of the most important determinations that you will make in your lifetime. When you sit down with your estate planning attorney to work on your estate plan,be prepared for some questions that may make you rather uncomfortable.

Proposed Changes to the Trustee Ordinance and Related Matters in Hong Kong

To promote Hong Kong as Asia’s major asset management center and to attract more local and overseas settlors to choose Hong Kong law as the law of their trusts and to administer their trusts in Hong Kong, the Financial Services and the Treasury Bureau released its Consultation Conclusions on Review of the Trustee Ordinance and related matters (“Conclusions”) in February 2010 and its Consultation Paper on Detailed Legislative Proposals on Trusts Law Reform (“Legislative Consultation”) March 2012.

Law No. 148/2012 on the Legal Framework of Electronic Documents - Romania

Romania has recently passed into law, Law no. 148/2012 which establishes the legal framework for the issuing of electronic documents (invoices, tax bills, receipts) which will contain data regarding economic operations such as exchange or sale of goods or services. This is a further step to modernise the financial and banking system in Romania. As electronic commerce continues to expand Romania will continue to be at the fore front of this industry.

Pending Loss of Estate Tax Portability A Concern

When this year comes to a close we are going to be looking at an entirely different lay of the land when it comes to the estate tax parameters. With this in mind we would like to examine the subject of estate tax exclusion portability. What does portability mean in this context?

Two People, One Exemption?

The federal estate tax is applicable to everyone as an individual, so each person is afforded an individual exemption. The current amount of the estate tax exclusion is $5.12 million. So, a husband and wife would each have $5.12 million for a total of $10.24 million that could be passed along to their heirs before the estate tax becomes applicable.

CFTC - Temporary Relief No Action Letter

  By Murray LLP
The CFTC has issued a no action letter providing temporary relief for Commodity Pool Operators (CPOs) and Commodity Trading Advisors (CTAs) who are affected by the recent changes to the CFTC registration exemptions. The no action letter extends the deadline for registration for those affected by the recission of CFTC Rule 4.13(a)(4) and the amended Rule 4.5.

Starting Your Own Law Practice

I. Getting Started - As a lawyer, or sometime in your life, you have probably heard the saying by Abraham Lincoln: “He who would be his own lawyer has a fool for a client.” (Mr. Lincoln also said “A lawyer’s time is his stock in trade.” a useful motto in our profession. My hometown lawyer had that sign above his receptionist’s desk.) I mention this slogan (the first one) because a common problem that I have with my business-owner clients is that they work beyond their skill set.....

Entrepreneurs and Business Development around the World

Introduction, Small Business and Southern Europe’s Economic problems. Because my Arizona business law firm represents businesses and start ups, both locally and from around the world, I was curious about the role entrepreneurs, start ups, and small and medium size businesses play in their national economies around the world. Surprisingly, one of the first articles that I found attributed the financial problems of Greece, Italy and Spain,.....

Immigrant Business; Immigrant Entrepreneurs

We hear so much about immigration in the context of border controversies that we may forget the vital role that immigrant owned businesses play in our economy. By “immigrant” we do not mean just Mexicans or persons from South American countries, which play a prominent role in states like Arizona, but also Indians, Koreans, Cubans, Chinese and the Vietnamese. A recent program on National Public Radio (aka “NPR”) documented....

Arizona Business and International Law

A decade or more ago a client of our business law firm needed some advice on an international transaction. We called several local firms that we thought might do that kind of work, but they didn’t. So, I concluded, “What the heck. If they are not going to develop a practice in that area, I will.” Thus, we invested in multiple volume sets on the international law of contracts and the law of various foreign nations. Since that time we have done a number of transactions all over the world......

Attorney-Client Privelege for Transactional Attorneys

Attorney-Client privilege is a particularly tricky issue for attorneys who handle business transactions in Phoenix, as they so often have clients for both legal and non-legal services. A client who requires legal services is protected by quite strict attorney-client privilege ethics rules. However, a client who is provided strictly non-legal services cannot be protected by attorney-client privilege.

Using Tech Gadgets dor Senior Independence and Caregivers

As the American population continues to age and lifespans continue to lengthen, more and more seniors and their families are using new technology to help keep themselves independent and healthy. While new technology is always being introduced,here are some helpful recent gadgets that seniors and their families can use today.

Girlfriend of Painter Kinkade Presents Holographic Wills

There are a few ways to create a Last Will, one of which is a holographic Will. This sounds rather high-tech, but in fact the reverse is true. A holographic Will is simply a Will that is written entirely in the handwriting of the person creating the will and signed by them, as well. The popular painter Thomas Kinkade died recently at the age of 54 due to acute intoxication. He was living with his girlfriend Amy Pinto-Walsh at the time.

Actor Mickey Rooney Testified about Elder Abuse

Beloved actor Mickey Rooney testified in front of a Congressional committee recently about his personal experience with elder abuse. Rooney, whose acting career spans nine decades, petitioned for court intervention this year to stop his step-son and his step-son’s wife from abusing him and draining him financially according to court records. According to Rooney, he was “stripped of the ability to make even the most basic decisions about my life.”

7 Things to Consider in International Business Structuring in the Ukraine

It is common on the market that any business structuring for a Ukrainian business is conducted mostly by financial advisers and business consultants looking primarilyat the cost reduction and direct tax economy. However, current tax legislation in most countries around the world is eager to fight with structures erected only for tax economy purposes. Ukrainian tax authorities are not exception in this case.

“Free” Estate Planning Legal Documents

Being part of a family means that one day you will likely experience the passing of someone you love. Many Baby Boomers and their parents have experienced loss more than once in their adult lives. If this describes you, take a few moments to remember what happened.

The (Almost) Secret Veteran's Pension: Aid and Assistance

The Veterans Administration estimates that about 2 million eligible veterans likely qualify for the Aid and Attendance pension benefit, yet few of them take advantage of it. The VA also estimates that about $22 billion per year in AA benefits remain unspent because so few people take advantage of the program. Let's take a look at what the Aid and Attendance pension is and who qualifies.

Leaving a Medical Practice / Closing a Medical Practice

This article gives a very brief overview of how a physician leaves or closes a medical practice. The physician can’t just walk away – leaving or closing a medical practice is more complex than you think. In this article I try to give both sides of the story, that is, the perspectives of both the individual physician and the group practice.

How a Non Licensed Person Can Work With a Medical Practice

In this article I discuss how a non-licensed person can work with a medical practice, including the use of an administrative / management service company. Here is my conclusion up-front: A non-licensed person can work with a medical practice so long as there is NO ownership in the practice, where ownership includes not only stock in a medical corporation but also a share in revenues.

Leases for Medical Offices

Medical offices need special lease provisions. All leases need negotiation and revision, but leases for physicians need a little more. In this article, I discuss some advanced lease provisions that medical practices frequently need. For a basic explanation of commercial leases, refer to my article Understanding Commercial Leases.

How to Dissolve a Company in Indonesia

The general principle on dissolution of Limited Liability Company is stipulated under Article 143 paragraph (1) of Law No. 40 of 2007 regarding Limited Liability Company, which provides that the dissolution of company does not automatically erase the legal status of the company. The legal status would be lost at the end of the liquidation process and accountability of liquidator has been accepted by the General Meeting of Shareholder or District Court.

Buying and Selling a Medical Practice

This article gives a quick overview of buying and selling a medical practice. I discuss the deal from due diligence, through deal terms, to the definitive deal documents. Finding the Deal - The first step is to find a deal. Talk to people in the industry. Find out if a physician is looking to sell and retire, or if an up-and-coming associate is looking to buy.


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