Business and Industry Law Articles
Articles written by lawyers and expert witnesses worldwide
explaining the different aspects of Business and Industry.
The judgment from the German Federal Court of Justice (file number: II ZR 197/10) made clear that an associate can be held liable even if he has already retired from the GbR. The ruling shows the liability risks for associates that come into consideration in connection with the withdrawal from a GbR. The associates, as mentioned in the ruling above, are not freed from the risk of liability, even though the law excludes post liability.
Along with the explanation to the co-partner, it requires the adoption of resolutions by the other partners to evoke the exclusion of a co-partner from a limited partnership. The Federal Court of Justice judgment of the 6/21/2011 (File number: II ZR 262/09) decides about the exclusion of a co-partner from a limited partnership.
According to a recent judgment by the Federal Court of Justice (BGH, II ZR 243/11 from the 19.06.2012), it is the responsibility of the manager of a Ltd Company to have a decent enough overview of the financial and economic situation, in order to be able to fulfill his duties properly.
Until May 7, 1997, much to the ongoing dismay of the Western financial world, debt financing was not an option for most Ukrainian companies. The key obstacle was the now-cancelled National Bank’s Provision No. 329, dated December 29, 1995, which strictly required all Ukrainian residents to obtain a special license prior to receiving loans in foreign currency from foreign creditors. Naturally, such licenses were not generally granted to the average Ukrainian company.
Now the world is becoming small, there are many people want to live in foreign countries, especially the developing countries, China, there are many opportunities in here, but the risks are exist at same time. So find a attorney before you go abroad. This is the true fact that I met during my attorney practice, for the secret of the person, I do not use the true name of the person.
When you are engaged in the process of retirement planning, you are going to want to be apprised of all of your options. With this in mind we would like to take a look at home equity conversion mortgages. Just about everyone would like to be able to retain ownership of as much property as possible so that they can leave behind a robust legacy to their loved ones.
There are many different types of power of attorney; in fact, there are so many that someone could be easily overwhelmed when trying to decipher just what exactly, is encompassed by a grant of power of attorney. And don’t worry: if you don’t know what a power of attorney is, you are not alone. To put it simply, the phrase “power of attorney” describes one person’s bestowal of power upon another person to act in their stead.
You can’t take it with you. This is one of the simple, inalienable truths about dying, and, like it or not, your relatives know this. So if you have had the good fortune to become wealthy during your life, be sure to develop an estate plan that will help keep things civil.
Some people want to provide for minors or adults who are incapable of making their own decisions when they are making preparations for the future. If you want to set aside resources for the well-being of such an individual you would place them into a trust of some kind.
levy that is imposed on gifts that you give to others if they exceed a certain amount. Every year you can give as much as $13,000 to any number of gift recipients free of the gift tax. The total sum of these tax-free gifts can equal any amount of money.
Because of the fact that pets live relatively short life spans as compared to humans, you may think that it is not necessary to consider the future of your pet when you are planning your estate. Perhaps this is true for some younger people who essentially co-own their dog, cat, horse or other animal with other immediate family members.
Have you ever purchased a one size fits all T-shirt? I'm not sure why companies make these things. They don't actually fit anyone. They are always too large or too small for any particular person. If you have made the mistake of buying one of these things, it’s a mistake you are not likely to make again.
Most people do just about everything they can legally do to get as much money as they possibly can. This makes it amazing when someone appears to go out of their way to not get virtually free money. For example people have been known to not show up to claim inheritances for no reason. It happened recently.
Forgive me, ladies, but this is a post for the men in the audience. You can read it, but it is not for you. This post is for men who spend any time with other men. It does not take long if you get a group of men together that the conversation turns to what it means to be a real man. It really doesn't.
There is an old Internet meme that shows a picture of a man looking at a computer while a woman stands in a doorway behind him The picture is captioned with some way of stating that the man cannot go to bed because he has to stay on the Internet because someone on the Internet is wrong.
If you were to get yourself a dog or cat as a senior citizen you may be taking a very positive step. It is not uncommon for elders to experience a sense of loneliness and pet ownership can certainly make a big difference. However, when you are planning your estate you must ask yourself what would happen to your dog or cat after you pass away.
Estate planning in the digital age is going to require communicating relevant information to your executor or personal representative. These days a lot of people conduct a significant amount of business online. Indeed, some individuals take care of just about everything over the Internet and it can be quite efficient to handle your affairs digitally.
You must think everything all the way through when you are interested in being totally and comprehensively prepared for the inevitable. With this in mind you would do well to make provisions for your dog when you are planning your estate. No one knows exactly when they will be passing away so you may think that you will live longer than your dog but in reality you have no guarantees.
Many people within the elder law community are concerned about the future solvency of the Social Security program. Indeed, given the rapid aging of the population there will be an added strain on the system. Exactly how to go about cutting costs is a matter of ongoing debate, but the Social Security Administration has been taking some steps that would seem to be quite logical to most people.
Australia is a member of the Madrid Protocol – an Australian trade mark owner can apply to register its trade mark in other countries that are also members of the Madrid Protocol in one international trade mark application. A Madrid System application is simpler and cheaper than applying directly to each country for a registered trade mark. However, some countries are not members of the Madrid Protocol so it is necessary to apply directly to their trade mark registries.
There are numerous myths and misconceptions about trade marks. Here are some that relate to Australia. Your Australian registered trademark automatically protects your rights overseas: Untrue. Your Australian registration only gives exclusive trademark rights in Australia. If you wish to use your trade mark overseas you must be sure that it does not conflict with an overseas owner's trademark rights.
Perhaps some of your family members are not as motivated to make something out of their lives as you are. It is frustrating when that family member is a child or grandchild who just cannot seem to do anything with his or her life, who shows no desire to go to college and get a degree that can land them a good job.
I have an old friend that I only know through the Internet. I'm not sure how we met. It was a long time ago. It was probably through a mailing list or some early Internet message board. We have a lot of similar interests so over the years we have kept in touch. We do not talk often, but every once in a while we send each other emails to see what is going on or to discuss something of mutual interest.
Pregnancy is one of those significant life events that cause us to make a great many changes in our lives. One thing to which being pregnant should give rise, is considerations about your estate plan. Perhaps you do not yet have an estate plan in place. Perhaps you need to make some adjustments to your existing plan, in light of the pregnancy.
World’s economies are closely woven and interrelated with each other, individual states are thus required to be more efficient in application of conventions and agreements signed under WTO, in order to increase the trade volumes of goods and services. States are also required to be prudent in implementing laws meant for the growth of international trade, more particularly when such conventions or agreements have become part of the municipal legislation.
A living Will registry is a good idea. It’s like an insurance plan that covers your wishes instead of your property. Although the subject matter underlying a living Will registry may be difficult to discuss, registration and use of the registry is simple.
It can be very difficult for adult children with aging parents to accept that the people who raised them are now coming to the age where they are not able to perform the same tasks that they used to be. If you have aging parents there may come a time when you will need to step in and begin managing some of their responsibilities for them.
As documented in the latest judgment by means of the Federal Court of Justice (BGH, II ZR 243/11 from the 19.06.2012), it's the obligation of the manager of a particular Limited Company to possess a good enough comprehension regarding the fiscal and economic condition of their company, in order to be qualified to meet his/her assignments in the proper way.
Contractual commission regulations of trade agents can be void if they are contradictory. According to a ruling of the higher regional court of Munich (Az. 23 U 4793/11) from March 22nd 2012 it was determined, that commission determining clauses can be inoperable if there are an coexisting and simultaneously completed cooperation agreement and trade - agent contract. Following § 307 para. 1 sentence 2 BGB (German civil code) these agreements can be found void if they are inconsistent.
The adoption of resolutions by the other partners is necessary to evoke the exclusion of a co-partner from a limited partnership, along with the explanation to the co-partner. If the partnership contract of a limited partnership determines that a co-partner needs to leave the partnership, or should the remaining partners want his withdrawal for important reasons by declaring this to him, then this clause needs interpretation.
Where the priority of the community trademark over a national trademark is in debate, then the day of registration is pertinent and not the exact time. The precise time of the brand registration mustn't be considered. With the help of a Spanish court, the European Court of Justice (ECJ) built a specific ruling on the 22.03.2012 (C - 190/10) that the term "registration day", consistent with article 27 of the Community trademark rules (GMV)...
It is the responsibility of the manager of a Ltd Company to have a decent enough overview of the financial and economic situation of the company, according to a recent judgment by the Federal Court of Justice (BGH, II ZR 243/11 from the 19.06.2012). The manager needs to be able to fulfill his duties properly.
Introduction - The concerns of our clients are always paramount and it is for this reason we have embarked upon the “Doing Business in the Republic of Trinidad and Tobago” Series of Legal Article - During this series our Attorneys will be giving you a brief insight into the areas of law which from our professional experience, touches and concerns businesses and individuals wishing to establish themselves within our borders.
This is an article regarding the reasons to cancel a delivery contract. The magistrate’s court of Haifa has recently decided to accept the lawsuit of a ground carrier vs. a company of Customs agents, for failure to pay shipment expenses. The defendants did not deny having ordered the shipment but they claimed the shipment had arrived a few hours in delay, which justifies withholding payment for it. The court overruled this claim and accepted the entire lawsuit.
This article is dealing with the responsibility of a warehouse to the goods that are storage in it. Many importers enlist the services of the warehouses under Customs supervision for storing their cargo without having to pay import taxes. In this way, they can choose to pay the import taxes only after they have found buyers for their wares and then pay the taxes upon their release.
This is an article regarding the responsibility of a port to the containers that are storage in it. The magistrate’s court of Haifa recently ruled that the Haifa Port Company will recompense the Golmat Company at a sum of NIS 25,000 for the loss of a shipping container that took a long time to find. The case and the claims made by the parties:
Israel - In Which Cases is the Insurer Permitted to Refuse Providing Compensation for Damage to a Shipment?
This is an article regarding insurance law. Many times, the court will be presented with a subrogation in which an insurance company that has given compensation to a policy holder for cargo damages takes his place and sues the related parties in the transportation network whom they hold responsible for the damage, for instance: the port, the marine carrier, the air forwarder, the warehouse, the international delivery company etc.
This is an article regarding advertising discount and distribution fees. The Customs Authority has recently published a draft of a position paper regarding the evaluation of goods for Customs purposes, covering three issues: advertising expenses, distribution fees and warranty fees.
This is an article regarding the trademark law in Israel. The Central District Court rejected the lawsuit submitted by the home design center located in Bnei Brak called the "Dan Design Center", against their competitor in Rishon Le'Zion, the "One Design Center".
The communiqué on principles of registered capital system in non-public companies has been declared by the Ministry of Customs and Trade (hereafter the “Ministry”) and published on the Official Gazette dated 19 October 2012. The revolutionary communiqué brings out new corporate responsibilities for non public companies having registered capital system.
The estate tax and the gift tax are unified under the tax code. We would like to provide a basic explanation with regard to what exactly this means to you. You cannot simply give gifts while you are alive in an effort to circumvent the estate tax. There is a federal gift tax in place as well and it carries the same rate as the estate tax.
There is no doubt that you have heard a great deal of information bandied about regarding the Patient Protection and Affordable Care Act (PPACA) in the days since the U.S. Supreme Court upheld the law, in a 5-4 decision. All of the facts and figures can be confusing, especially since they all seem to conflict from day-to-day. So what kind of effect, if any, will the PPACA’s expansion of Medicaid have on private health insurance rates?
The registration/ formation and management of companies are governed by the companies Act 2012 and several other laws such as the Investment Code Act, The income tax Act, Value Added Tax Act, Uganda Citizenship and Immigration Control Act, National Social Security Fund Act among others.
This article summarises the legal remedies available to both Turkish and foreign players for the collection of their receivables in Turkey.
Business owners generally assume that a Letter of Intent made precursory to a contract would be legally binding and entitle you to legal remedies if the other party reneges on the deal. This article explains why this is often not the case. Hey What Happened? Didn’t We Sign the Memorandum of Understanding?
Have you ever considered whether or not your business could continue without you or your key employees? “Keyman Insurance” is an insurance policy designed to financially protect a business from the effects of prolonged illness or death of important employees of a business. Read this article to find out how your business can benefit from keyman insurance.
Why do you need a Shareholders' Agreement? Reducing uncertainty, providing investors with evidence of stability in the business; minimizing the cost of a business break up; planning for retirement and business succession are some of the many reasons why you might want a shareholders' agreement. This articles examines the legal issues that a Shareholders Agreement should address.
The recent economic downturn have resulted in many of us tightening our belts. For most of us, this means having to forgo our annual overseas holidays, having to downgrade from going to restaurants to having our family meals at food court. Everyone is looking for ways to reduce their spending. We often overlook the very obvious method (and also substantial) savings through refinancing.
In recent years, the Singapore Law Courts have come down hard on companies who hire “temps” or freelance contractors as a means to avoid paying employee benefits. The Courts’ may not agree that your hired hand is not an “employee” but a “freelance contractor”. Read this article to find out the difference between an employee and a freelance contractor.
Business expansion comes in many different forms. One of the most common methods of used by the small businesses in Singapore to expand their business is to expand their distribution channels by the appointment of distributors. This Distributorship Agreement Checklist will ensure that you address all of the major issues in agreements with your appointed distributor.
As an international trade attorney in China, I have tackled many case of international trade dispute. I think if buyer has advice before buying goods in China, then they can have successful business, if not, they will lose thoroughly.
This article deals with the ruling of the Israeli court regarding a contract about imported iron. The Haifa District Court has recently deferred the prosecution of an iron importer, filed against an Israeli company who had given their assurance to purchase that same iron but went back on their word.
You may have heard the term "unified exclusion" if you have started to do any research into the field of estate planning as you look ahead toward your own future. What this is referring to is the amount of resources you can pass along to your loved ones without facing the prospect of paying a hefty tax.
Nursing home costs are rising, which could be detrimental to your financial health should you find yourself in need of nursing home care, or even that of an assisted living community. In fact, the average annual cost for a nursing home is running around $75,000 per person. Having insurance won’t be much of a help since most insurance plans do not cover the costs associated with a nursing home.
The taxes that are imposed on transfers of assets are something to take very seriously when you are interested in wealth preservation. These taxes extend beyond the estate tax alone. There is also a gift tax, and it is unified with the estate tax under Internal Revenue Service regulations.
Seniors who don't have a lot of strong social connections may be putting their health at a significant risk. Researchers have long known that social isolation and feelings of loneliness can contribute to a decline in health in almost anyone, but elderly people are especially susceptible. Now, researchers at the University of California at San Francisco have released the results of a new study, which further demonstrates just how dangerous being alone as a senior can be.
In the 17th April 2012, the Companies Act (Recognized Incorporated Cell Companies) Regulations (the “Regulations”) were incorporated into Maltese law by virtue of L.N. 119 of 2012. The said Regulations are supplemented by the MFSA Investment Services Rules for Recognized Incorporated Cell Companies (“RICC”) and Incorporated Cells which have been integrated into the existing MFSA investment services regulatory framework...
In October 2012, the Maltese Government has issued a special tax status for retirees from EU, EEA countries and Switzerland when remitting their pension into Malta. A fixed tax rate of 15% will be due on the pension remitted, and the minimum tax payable shall be of €7,500 for the beneficiary and €500 for every dependant (if any).
Peruvian corporations can be incorporated by a 100% of foreign shareholders. The most common corporations are the publicly-held corporation ("sociedad anónima abierta") and the closely held corporation ("sociedad anónima cerrada"). First at all, it is advisable to carry out a previous search before the Public Register of Companies.
It isn't uncommon for a new client to walk into an estate planning attorney's office and ask if the attorney can make a quick update to a Will. While updating a Will is possible and is generally not difficult, there are often complicating factors which will require you to take more time and to think carefully about how your updates will affect your estate plan. Here are a pair of issues you want to think about if you are intent on updating or changing your Will.
Estate planning involves making provisions for those that you care about, and with this in mind you must remember to include your pet. Yes, pet planning is an important part of any holistic estate plan and you must make sure that your pet will be properly cared for if you pass away first.
In order to maintain the integrity of Hong Kong stock market and to ensure a fair and informed market, a new Part XIVA of the Securities and Futures Ordinance (“SFO”) which imposes new statutory obligations on listed corporations and their officers to disclose price sensitive information (“PSI”) to the public will come into effect on 1 January 2013.
It is a good idea to think things all the way through when you are engaged in the process of inheritance planning. Getting resources into the hands of your loved ones is of course the goal, but you would do well to consider the personality traits and financial capabilities of the people who will be receiving inheritances.
Is your business trading in the most cost effective way and is your legal status adequately protected? Choosing the best legal ‘vehicle’ through which to operate your business is perhaps the most important decision you can make as a business owner – particularly with the advice of an expert companies lawyer.
It is important to be aggressive about tax planning in light of the heavy toll that the federal estate tax can take on your legacy. To be able to act intelligently you must gain an understanding of the taxation that is imposed on significant asset transfers and we will shed some light here.
There are certain pitfalls that go along with this and you should be aware of them before making any final decisions. During probate anyone who wanted to contest the will could step forward and present his or her case and the probate court would hear these arguments.
To be able to proceed intelligently when you are planning your estate you must have an understanding of the relevant tax laws. There are those who think that it is not fair, but acts of giving while you are alive or after you pass away are taxable.
Oklahoma City estate planning attorneys are licensed to provide legal services to their clients. They are bound by professional guidelines. That means you have a high degree of certainty that the documents that are prepared by a member of the Oklahoma Bar Association will stand up under the scrutiny of the probate court.
For many elderly Americans, the golden years are fraught with concerns over money instead of spent sitting on the front porch sipping iced tea. Social Security does not provide the average retiree enough income to live on comfortably. Employer sponsored pensions and retirement accounts are virtually unheard of anymore.
The Jefferson’s was always one of the funniest television shows around. It's still funnier than most of the shows that have come afterwards. What is not funny is what has happened to the star of the show, Sherman Helmsley, after he passed away. I mean literally what has happened to him. He died two months ago and his body has still not been laid to rest.
The process of divorce is extremely emotional and stressful for people, so, as a result, it is quite easy to overlook important details. One such important detail to remember after receiving a divorce is to check the beneficiaries listed on any life insurance policies, wills, trusts, IRAs, 401(k)’s and other employer-provided plans or similar documents.
This is Article #5 in my 8-part series on the basic corporate, business and contract law issues for veterinary corporations and veterinary practices in California. If you are in a group veterinary practice, you might wonder, “Can I or another veterinarian in this practice set up a competing practice?” “Will a non-competition agreement prevent it?” These questions are crucial both to the existing group and the veterinarian who would set up the competing practice.
This is Article #6 in my 8-part series on the basic corporate, business and contract law issues for veterinary corporations and veterinary practices in California. This article gives an outline of how to bring a new veterinarian into a veterinary practice. I go from common sense to legal advice, from the veterinarian’s purchase of ownership to the parties’ exit strategy and unwinding of the relationship.
This is Article #7 in my 8-part series on the basic corporate, business and contract law issues for veterinary corporations and veterinary practices in California. This article gives a quick overview of buying and selling a veterinary practice. I discuss the deal from due diligence, through deal terms, to the definitive deal documents.
This is the last article in my 8-part series on the basic corporate, business and contract law issues for veterinary corporations and veterinary practices in California. This article gives a very brief overview of how a veterinarian leaves or closes a veterinary practice. The veterinarian can’t just walk away – leaving or closing a veterinary practice is more complex than you think.
On our blog, we have recently been posting about the Presidential candidates proposals for changing the estate tax and investment taxes. The two candidates' proposals couldn't be more different, especially on the estate tax, which Romney would seek to eliminate. Because of the uncertainty about who will win the election, some people might be tempted to put off getting an estate plan until after the election. That would be a mistake.
Many people have a very similar problem. They want to know how to save enough for their own retirement and still have money left over to leave an inheritance to their children. It is a problem that does not have any easy answers.
There is nothing unusual about making an inheritance conditional on something else. Conditional gifts are as old as estate planning itself. For example, inheritances are often conditioned on the heir or beneficiary reaching a particular age or graduating from college. Most people do not see any controversy in these conditions.
In today’s digital age, identity theft is a serious concern for everyone. Not only is stealing an identity potentially easier in the electronic age, but once an identity has been stolen, a considerable amount of damage can be done in a relatively short period of time. Sometimes, the damage cannot be repaired, leaving victims without their life savings in their golden years.
For many people, a comprehensive estate plan includes one or more trusts. Trusts offer numerous advantages such as flexibility, control and both tax and probate avoidance in some cases. Although there are a wide variety of trusts that you can choose from when you decide to create a trust, all trusts require the same basic elements to start—a beneficiary, a trustee and funds.
One of the most common reasons people give for not creating a comprehensive estate plan is that they do not believe they have enough assets to warrant creating one. While there are reasons apart from assets why creating an estate plan is important, you might also be surprised at the hidden assets you have that do warrant creating an estate plan.
What does it mean when an attorney tells you that something is probate property? What about non-probate property? If you don’t know, then you should keep reading. When someone dies, he or she is called a decedent, and the property that they owned will be classified as being either probate property or non-probate property.
Sometimes you can be motivated by the difficulties that others have experienced and avoid the pitfalls that led them into unenviable positions. With this in mind we would like to highlight the findings of a study of interest to the elder law community that was recently conducted by experts associated with the National Bureau of Economic Research.
It is nice to be able to achieve multiple objectives through a single action and in many cases this can be done in the financial planning field. For those who are seeking asset protection, income, and estate tax benefits, Alaska trusts may be just one of these very efficient multipurpose tools.
When websites that offer do-it-yourself estate planning documents started to appear and advertise aggressively licensed attorneys began cautioning people about utilizing these downloads and worksheets. There is really no substitute for legally binding documents constructed by a licensed professional who is a member of the Bar Association right here in the state of Nevada.
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.
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.
We like to pass along news about the estate planning successes and failures of celebrities from time to time and there is an interesting situation unfolding around the estate of the recently deceased comedic actor Sherman Hemsley.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.