Business and Industry Law Articles
Articles written by lawyers and expert witnesses worldwide
explaining the different aspects of Business and Industry.
In this article, I talk about compensation plans for group medical practices. In general, a group practice pays its physicians in some combination of three ways: (1) salary, (2) productivity payments, that is, productivity bonuses or shares in profits or collections, (3) corporate dividends. Your balance of the three forms of payment determines in large part the culture of your group practice. Without further ado:
In this article, I briefly outline the legal requirements that apply when a group medical practice pays compensation to its members. My prior article, Compensation structures for a group medical practice, explained compensation plans from a non-legal perspective. This article talks about the law, specifically, medical practice compensation plans under California and federal referral laws (Stark and Anti-Kickback).
Dubai is a well-respected pathway to the East, and since it became a financial hub, companies that engage in all types of business activities are now looking to establish a presence here. Setting up a Local Company is an excellent way to enable you to have a presence in Dubai as well as operate within the local jurisdiction.
In selecting a law firm for an owner-operated small or medium sized business (aka “SMB’s”), we can start with some basic positions: 1. The law firm client is well advised to choose a lawyer, not a firm. Lawyers vary in aptitude, knowledge and experience in various practice areas, just as other businesses do. So, obviously, you need an attorney who actually practices business law.
The Internet is destroying the enforceability of small business contracts. Here are a few examples: Case 1: Painting Company and the BBB. - A house painting company (“PaintCo”) bid on and signed a contract with a home owner to paint his house. The contract had a three day cancelation clause which was not invoked.
Background - The application for transfer of ownership of foreign shares can be submitted either by foreign investment company or by domestic investment company. The transfer of ownership of foreign shares shall be conducted whenever there are changes in the company’s capital that cause some or all the company’s capital into a foreign capital or domestic capital.
Debtors often to not fully understand the rights granted to them by the bankruptcy code upon filing a bankruptcy petition with the court. One of the most important rights is the right to be free from collection attempts by creditors after the bankruptcy petition has been filed. The automatic stay allows to the debtor to carry less of a burden from mounting debt by barring creditors from attempting to collect a debt while the bankruptcy petition is being processed in the court system.
A person’s Last Will and Testament may be the most important legal document that he or she ever creates. As such, it should be created after careful contemplation and consideration, while the person is of sound mind, and with the assistance of an experienced estate planning attorney.
To be comprehensively prepared for the inevitable you must consider all of the basic hand to mouth details. One of these would be funeral arrangements. There are those who assume that this is something that family members should take care of, but in fact there are a lot of choices that must be made and it may be best to make them yourself.
The law has had to adapt and change to meet the needs and demands of businesses and consumers as modern technology has advance. And it will keep on changing as technology continues to develop. If you are considering setting up in business with a measure of reliance on the internet and associated technologies, you will need expert advice from lawyers experienced in e-business law.
The 2011 revision of the China’s Foreign Investment Industry Guidance Catalog (“New Catalog”) was issued jointly by the National Development and Reform Commission and the Ministry of Commerce on 24 December 2011 and it came into effect on 30 January 2012. The Foreign Investment Industry Guidance Catalog is an important reference for foreign investments in China.
The State Administration of Taxation (“SAT”) issued Notice on the Matters regarding Enterprise Income Tax under the Development Strategy for Western Region (hereinafter referred to as “Notice”) which provided certain important clarifications for the implementation of Enterprise Income Tax (“EIT”) preferential policies and set out the relevant applications and approval procedures. The Notice takes retrospective effect from January 1st 2011.
The U.S. Court of Appeals, in its published opinion, Warren v. Sessoms & Rogers, P.A., No. 10-2105, 2012 WL 76053 (4th Cir. Jan. 11, 2012), analyzes the materiality and knowledge requirements under the Fair Debt Collection Practices Act (“FDCPA”), 15 U.S.C. § 1692 et seq. The decision is significant for consumer attorneys, as it involves an interpretation in favor of consumers by a court that has a conservative reputation.
The State Administration of Taxation has issued the Provisional Measures of Applying the Exempt, Credit and Refund Method to Zero-rated Value-added Tax Services in Their Transformation from Business Tax to Value-added Tax under the Pilot Program (the “Provisional Measures”) on April 5th, 2012, which has retrospectively become into effective since January 1st, 2012.
India and Vance had been married for 27 years at his death. When she turned 62 she applied for widows benefits. Social Security requires as part of the application for Widows benefits that she show proof of marriage. India could not find her marriage certificate. She requested a copy from the Bureau of Vital Statistics in the state where she and Vance were married and was told they had no record of her marriage. What does she do now?
Most people when they think of long-term care think of care in a nursing home. The majority of people only enter a nursing home when their needs can no longer be met outside of a treatment facility. Home based and community services are a range of services that allow people to remain in their homes and retain their independence for as long as possible.
The chance that a person will develop Alzheimer's disease increases significantly after the age of 65. Almost one out of every eight people will develop Alzheimer's disease. Though there is currently no treatment for this condition, you can look out for the common warning signs associated with Alzheimer’s. The following are a few examples:
Stieg Larsson, for those of you who can’t place the name offhand, was a Swedish journalist and right wing political activist for most of his life. He will be remembered though as the author of the novel turned blockbuster movie, The Girl with the Dragon Tattoo. As is the case with many writers, Larsson lived a modest life without acquiring a significant estate up to the time of his death.
In litigation that already has lasted nearly twice as long as the war itself, volleys are still being fired over the copyright for a portion of the memorial to a war that ended in armistice and not peace. On May 14, 2012, Gaylord v. United States was remanded by the U. S. Court of Appeals for the Federal Circuit to the U. S. Court of Federal Claims for another shot at determining the amount of damages, the fifth courthouse battle in this protracted campaign.
By Asia Law
Can a company that does business only in Asia, with all of its manufacturing, sales and deliveries taking place there pursuant to contracts signed in Asia, be held liable for infringement under the U.S. Patent Act? Yes, quite possibly, as explained in this article by an international technology attorney based in Taipei, Taiwan.
We have all heard how important it is to create an estate plan. Despite this, many people put off creating one. We all also know how important it is to discuss funeral plans or burial wishes without loved ones, yet many people also fail to do so. The best way for people to understand the consequences of not preparing properly is often to provide an example of what happens absent preparation. Imagine the following scenario.
As people continue to live longer and medical science continues to make improvements, elderly people often face a range of legal topics that younger people typically do not have to deal with. Elder law attorneys are lawyers who specialize in knowing how specific areas of the law impact their clients and what people can do to protect themselves as they get older. Let’s take a look at some of the most common areas that elder law attorneys deal with.
The Catalog for the Guidance of Foreign Investment Industries (Amended in 2011) (the “Catalog”), which shall come into force as of January 30th, 2012 and replace the old version of the Catalog promulgated on October 31, 2007. The new Catalog includes 473 items in total - 354 encouraged items, 80 restricted items and 39 prohibited items.
Pursuant to California law, medical marijuana businesses legally are allowed to operate in the state. However, there are conflicts in the laws and confusion about what is and is not permitted. This article provides some general information on this unique area of business law and summarizes some of the major differences and similarities between these organizations and those in other industries.
Creating a Family Tree is a helpful method to guarantee your estate plan encompasses all your wishes for distribution of your property. A comprehensive estate plan includes a Last Will and Testament, Living Trust, Living Will and insurance policies. Depending on your personal circumstances, you may or may not need all of these documents. Each of these documents involves making specific bequests to family, friends or charitable organizations.
If you have an employer sponsored 401k and you happen to leave your current job, you’ll probably have some decisions to make about how to handle that money going forward. In most cases if you have $1,000 or less in your 401k, you will probably get that money in the mail within a month or two after you stop working for the company.
If you want to leave money to a friend or family member when you die, but are worried about their financial acumen, you might want to consider establishing a spendthrift trust. A spendthrift trust protects people who may be mentally incapacitated or who may waste money by establishing a trust overseen by someone (a trustee) who controls the funds. The beneficiary cannot spend the money before getting a distribution.
Prenuptial agreements still get a bad rap. People often crack jokes when talking about them, saying they are for the paranoid, the pessimistic, and the greedy and how unromantic they are. But wanting or signing a prenup doesn't mean you are planning for divorce. In reality, they serve a very important estate planning function, particularly in second marriages. Such agreements can also be made after marriage and are called post-nuptial agreements.
Adult guardianship is a legal proceeding in which a ‘ward’ is found lacking in the capacity to care for themselves and legally authorizes a guardian to make their decisions. Adult guardianship is often required when an elderly person can no longer care for themselves because of declining health, dementia, a stroke or another medical condition. Adult guardianship is a court procedure during which the ‘ward’ is found to be mentally incompetent and lacking the capacity to care for themselves.
This question comes from a lawsuit filed against Yves Saint Laurent America, Inc. by Christian Louboutin. Louboutin is a French shoe designer who is very well known for his collections of women’s high heel shoes with bright red out soles. Most women are familiar with the red soled shoes, and associate the color with the designer. The red soles have become a status symbol, a sign of luxury and wealth.
Business is booming in the Asheville food truck industry. It took a little while (about a year) for Asheville City Council to approve the downtown vending. But as of Friday, March 2 food truck owners have their own space in downtown Asheville. “The Lot” is what food truck owners are calling the parking lot located next to the bus station at 51 Coxe Ave.
For example, what if your incapacity planning documents are old and don’t include the appropriate HIPAA language. In the event that you become disabled, your loved ones might have to end up going to court to get the right to make decisions on your behalf. And this is the very thing that an incapacity plan is meant to avoid.
The revocable living trust has become an indispensible estate planning tool in recent years. It gives you the ability to avoid probate. Plan for disability, and keep your personal affairs private, while at the same time offering you the flexibility to remain in full control of your assets. And, for basic estate planning purposes, a revocable living trust is an effective tool.
Leaving an inheritance to a child is a little trickier than leaving an inheritance to an adult. After all, if you want to leave money or property to an adult, it can be as simple as saying as much in your will or revocable living trust. Children, however, can’t take control of money or property they’ve inherited – at least not until they reach adulthood. Until that time, they need someone to manage it for them.
As you go through the process of planning your estate, one of the things you’ll be asked to do is to name an Executor of your Will. Many people name their spouse or child without giving much thought to what an Executor actually does – and this could be a mistake. The role of Executor is an important one, and it can involve unfamiliar and stressful duties.
Everyone knows that long-term care is expensive, and it’s not likely to get more affordable in the near future. Figuring out how to pay for a nursing home or another form of long-term care has become a nagging concern for countless families. What happens if you have too much income or too many assets to qualify for Medicaid, but not enough savings to foot the entire bill for long-term care?
If you’re covered by life insurance, you’re the “insured», and you’re most likely the owner of the policy, too – but not necessarily. In some situations, you might choose to have your spouse, your children, or a trust own the policy. If you’re a business owner, your company might own a life insurance policy on you and your partners to cover the value of your ownership interest in the company.
By Asia Law
One encounters indemnification provisions so often in so many diverse agreements that it’s almost tempting to regard them as routine boilerplate. To do so would be a big mistake. This article provides valuable tips for negotiating and drafting appropriate contract language. The article was produced by the International Technology Law Blog, a publication of Asia Law, a firm of international attorneys based in Taipei, Taiwan that provides legal services for companies doing business in Asia.
Reason 1: Your children will need a guardian if you should die. Becoming a parent changes you, especially when you realize that your children are entirely dependent on you. With this realization also comes the knowledge that if you and the other parent should die, your children will have to be cared for by someone else. But who will take on this role?
Not even the extremely wealthy are immune from basic estate planning mistakes. Time and time again, people name one child as a Trustee. That is a great way to make sure that your other children and heirs will dispute the administration of the Trust. A recent example concerns the estate of Lee Byung-chull who passed away in 1987. In his life, he founded Samsung.
Last month, President Obama signed historic and far reaching legislation into law – the Jumpstart Our Business Start-ups Act (the “JOBS Act”). The broad impact of the JOBS Act effects companies – whether private or public, domestic or foreign – as well as capital raises, the IPO market, and more.
On the 17th April 2012, the Companies Act (Recognized Incorporated Cell Companies) 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.
Not just anyone may challenge the validity of a Will. Though state laws differ slightly, all require that you be related to the Will in some manner. Typically, you must be able to show that you would have received more from the decedent, if he or she had died without a Will; or if he or she wrote an earlier Will that left you more than the current Will.
If you have a Revocable Living Trust, you know that it can serve as an essential incapacity planning tool. If you’re ever disabled – through illness or injury – to the point that you can no longer manage your own financial affairs, your Disability Trustee can step in and take over your trust property. However, if a Revocable Living Trust is the only estate planning tool in your incapacity plan, then there are probably gaps that need to be filled.
One of the great things about a Roth IRA is that since you fund the account with after-tax dollars, amounts you withdraw from the account are usually tax-free. But not always. Here are the basic rules (keep in mind that there are separate rules for funds converted from a traditional IRA):
Everyone has heard of Alzheimer's disease, a debilitating condition that causes dementia among our nation's senior citizens. People who suffer from dementia can find it difficult to understand certain concepts, and as a result they can find it impossible to make sound decisions for themselves.
According to a news piece that is appearing on the Forbes website the late multi-Grammy award-winning pop singer Amy Winehouse died intestate. The article cites probate records as the source of this information. This is indeed news because it flies in the face of earlier reports. The tabloids from across the drink published stories shortly after the death of the mercurial diva praising her stalwart estate planning efforts.
Procrastination is common as we all live busy lives, and time can get past you in a hurry. If you have been planning on discussing your situation with a good Central New Jersey financial planning lawyer this year you may want to take action because we are already well into 2012.
Every family dynamic is unique and the level of communication that exists among family members is going to vary on a case-by-case basis. Some families have very frank and open lines of communication and this can be helpful when you are considering the implications of the aging of a family member.
There are a number of things about the Federal estate tax that do not seem fair to many observers. One of them is the fact that it is a tax that is imposed on resources that are still in your possession after you paid taxes. They are not subject to more taxes by virtue of their very existence while you are alive. But the event of your death is somehow viewed as a taxable one by the powers that be.
It would be logical to assume that you can leave behind financial resources to your loved ones without losing money in the process. However if you do not plan your estate carefully your legacy may well be eroded as it is being passed on to your heirs. One source of asset erosion is probate.
You may hear about payable on death accounts and walk away thinking that these accounts are an ideal estate planning solution. After all, simply adding a beneficiary who would assume ownership of resources left in the account after you die is a pretty efficient solution.
The probate process governs what happens to all the property a person owned after that person dies. Each county usually has a probate court that is set up to deal with these property questions. Though each state and even each county, has a slightly different procedure for probate cases, all of them require the same basic process. To begin, someone has to go before the court and file a petition.
Far too many people go through life without executing the appropriate estate planning documents. The reasons why they procrastinate vary but one reason is the misconception that it is a very simple matter that can be handled at any given time. You simply jot down your final wishes, call it a last will, and the matter is closed.
Mark Zuckerberg and Dustin Moskovitz are two young men who are in possession of some extraordinary wealth. The Facebook founders are in a position where they have to look for ways to preserve considerable financial resources beyond their own lives. There can be significant tax consequences that go along with gift giving and asset transfers after death, so careful planning is key.
Statistics indicate that a high percentage of people who are approaching retirement age are simply not ready, and many seniors will never be able to retire. If you ask each individual who is unprepared how he or she got into this predicament, you will get a variety of different answers. But without question, a lot of people find themselves lacking because they expected too much from Social Security and Medicare.
Whether you are a newly married couple, a couple with young children, or a blended family with children from a previous relationship it's important for you to begin your estate planning efforts immediately. While many people believe that estate plans are only for the elderly, parents with young children are in a much greater need to develop a plan because the children rely on you so much. Here are two key parts to your estate plan you need to address soon.
Probate law is often one of the more misunderstood, and even feared, areas of the legal system. Not to worry. The probate process itself is based on some very simple ideas. Let’s take a look at how a case begins.
In line with the trend towards higher level of corporate governance and more accountability of listed issuers and their directors in many other countries, the Hong Kong Stock Exchange (the “Exchange”) released its Consultation Conclusions on Review of the Corporate Governance Code (“Code”) and Associated Listing Rules (the “Conclusions”) on 28 October 2011.
Millions of Americans have not taken the time to sit down and create a comprehensive estate plan. In addition, a shocking number of Americans have also not sat down and discussed their funeral and/or burial wishes with loved ones. If you are one of those people, stop and consider the consequences of not doing these things now, before it’s too late.
As part of your legacy planning efforts, you may wish to consider digital tombstones. What are digital tombstones? Essentially they are websites that allow you to assemble your personal information in one place, so your family and friends can visit it when they wish. If you're considering using such a service, there are several issues you will want to consider.
Creating a comprehensive estate plan is a complicated undertaking and requires a thorough understanding of all the myriad tax laws that will impact your plan. This can be difficult under normal circumstances. In an election year, it becomes increasingly difficult as the fate of many tax laws is uncertain. This is not, however, the time to become complacent. Doing nothing could cost you a substantial amount in taxes.
For any adult child who is facing the decision whether or not to petition to become his parent’s legal guardian, feelings of conflict are normal. Being appointed as your parent’s guardian is the ultimate in role reversal. Many adult children feel as though seeking guardianship means taking away your parent’s independence. Concerns that you may be over-reacting are also common.
Answer: Maybe. In order to challenge a Will you must have “standing,” the legal right to challenge a will in court. In order to have standing you must typically have stood to receive more from the deceased person either through a previous Will or if that person had died without leaving any Will at all. Essentially, in order to have standing you must stand to receive more if you win the Will challenge and a court declares the Will invalid.
People like to do things for themselves. We all think that we know what we need to do and what is in our best interests. However, if you try to make your own estate plan instead of seeking the advice of an experienced attorney, you are likely to make some serious mistakes.
If you've experienced the death of a close family member, you may have to soon confront the prospect of beginning the probate process. Though the process is slightly different depending on where you live, beginning a probate case involves several key steps and requirements.
According to recent survey data, less than half of Americans 18 and older are married. For unmarried or cohabiting couples, estate planning is significantly different than it is for married couples. Whether you've been living together for years and have no intention of getting married, or simply want to take precautions in case the unthinkable should happen, here are three tips you can use if you are a cohabitating couple with concerns about estate planning.
Most people have watched an episode of 60 Minutes at some point in their lives and are familiar with Mike Wallace who recently passed away at the age of 93. Wallace's son recently stated that his father suffered from dementia before he passed away. It’s never easy watching a family member who has dementia. It’s particularly hard when the proper planning has not been done before the family member gets dementia.
It may be human nature to avoid subjects that are not especially pleasant, and this is one of the reasons why people often procrastinate when it comes to incapacity planning. Though it is not hard to understand why someone may prefer to avoid the topic, if you do you are putting yourself and your family members in a vulnerable position.
When most people make an appointment to sit down with their estate planning attorney, they have given some very serious thought to how they want their assets to be distributed upon their death. If you are like most, you have done this as well as thought about the need to provide for your family in the event you die an untimely death. These are the things that most people think about when it comes to estate planning.
In recent years, the rate at which technology has developed is mind boggling. Just a generation ago, the internet was virtually non-existent. Today almost anything can be located and viewed on the internet, giving rise to privacy concerns for many people. Are your estate documents public information?
The vast majority of us will need to entrust an elderly family member’s care to a stranger at some point in time. This may be for anything from a monthly home visit by a caregiver, to full-time, around the clock nursing home care. Unfortunately, statistics tell us that elderly Americans are also being abused, neglected and generally taken advantage of at an alarming rate.
We all hope never to need to know the answer to that question; however, if you do find yourself in the position of trying to figure out what practical steps need to be taken after the death of a loved one. It is good to know where to start. Often, the emotional impact of a death prevents us from thinking clearly. While each death may require unique steps, there are some universal steps that most people find must be taken.
If you recently received a letter or a telephone call telling you that you just inherited a small fortune from a long lost relative you probably feel as though you just hit the lottery. The next thought is likely “What do I do with the money? If you are already financially secure, then you can probably answer that question yourself.
How many people not named Britney does it take to manage Britney Spears' affairs? It turns out that the answer might be two. Recently, a court approved her fiancé as a co-conservator in charge of her day-to-day affairs. Her father has been her conservator since 2008 and will also continue in that capacity.
It is generally true that you might be able to use the services of a non-attorney for your important estate planning documents and end-of-life plans. But is it wise to do so? Absolutely not. Not only are people and companies who offer these services often breaking the law, they are also often not serving your best interests.
Receiving an unexpected inheritance can sometimes feel a lot like winning the lottery. Suddenly, you have assets that you did not plan on having. Before making plans to spend any of the inheritance, there are several reasons that you should visit with a probate attorney.
If you are afraid of your family fighting over your estate in Probate Court, an estate planning attorney has ways to help alleviate that concern. The most important way for many people is to use a Revocable Living Trust, because the assets in the Trust do not have to go through the Probate process. However, you should be aware that a Revocable Living Trust does not stop all interfamily legal fights.
In this article I answer the question, should you incorporate your medical practice? What are the costs and benefits of forming a medical corporation? It’s a tough question. The answer depends on a balancing of different factors. Most of us suffer information overload not long after starting this analysis. All of the factors start swimming around in our minds and we don’t know what to think.
In this article, I give you a quick overview of the major regulatory compliance areas for physicians and medical practices, namely: 1. Referral Laws -- Anti-Kickback and Stark Self-Referrals 2. Billing Medicare and Other Payers 3. HIPAA 4. Supervision of Staff 5. Test Case -- Sharing Offices with other Health Care Providers
Termination is the most important provision in a Physician Employment Contract and a Physician Contractor Agreement. Your exit from the relationship is crucial -- everything must end, and most things will end bad, so be prepared. This article explains termination provisions and the consequences of termination of the contract.
Most people are aware that they should have some legal documents that state what happens to their property when they pass away. You probably know that you can state who gets your property in a Will. However, you may not know that a Will might not be the best tool to use to dispose of all of your property and that it is just one document out of many that you might want to use.
Estate plans can have many different goals. At a minimum, an estate plan sets out what will happen to your assets after you pass away. One thing you should consider when creating your estate plan is the potential for conflicts between your family members over your estate and how you can minimize that potential. Hiring an estate planning attorney can lessen the potential for conflict.
Broward County, Florida – The Florida legislature, with the full support of Florida governor Rick Scott, recently amended the laws governing Personal Injury Protection (PIP) benefits under Florida’s motor vehicle No-Fault law. The changes will become effective January 13, 2013.
A foreigner and the potential employer should get proper permit before the foreigner starts his work in China. This article also give some basic guidance for the legal issues about the employment contract.
When you lose a loved one, the grief is immeasurable. If you lost a loved one and you believe that someone else was at fault, it can add anger to the flood of emotions you are likely already feeling. It can also require you to do a number of legal things at the same time following the death.
A pet owner who creates a pet trust ensures that his or her pet will be cared for after the owner dies. A pet trust is a legal entity that owns property for the benefit of your pet. You create this trust by detailing what you want to trust to do after you die and include those terms in your last will and testament or living trust, or by creating the trust to take effect while you are still alive.
Anyone who welcomes a new child should always update his or her estate plan as soon as possible. Not only will you want to make provisions in your plan to care for your child financially if you should die prematurely, but you should also name a guardian. Also, if you created an estate plan when your child was first born and the child has since grown older, you will probably want to review the plan to make sure your choice of guardian is still appropriate.
With the recent changes to the estate tax, many people have become confused about estate planning. Unfortunately, a lot of the confusion is because people have misinterpreted the changes to the tax. It has some people thinking that the increase in the estate tax exclusion limit means that they do not need to plan for their estate at all. Nothing could be further than truth.
With the current Federal estate tax limit being at a higher than normal level, some people think that a Revocable Living Trust is no longer a necessary part of a good estate plan. They argue that a Will is all you need. Unfortunately, those people are also often interested in selling you a simple Will form and they are not looking after your interests.
Have you ever considered what might happen to your assets if you have to go into a nursing home for a long term stay? Nursing home care is extremely expensive.The time to plan for it is long before you will ever possibly need it. Waiting until you are sick is too late. Medicaid will pay for long term care in a nursing home.
As you get older, different laws have a greater or lesser effect on your life. Elder law is simply a phrase used to describe all the legal issues that affect people as they age, retire, and die. Let's take a look at some of the more common issues that elder law attorneys deal with.
For many people, how you are remembered after you die it as an important part of your estate plan as ensuring your property will pass to your heirs with as few problems and costs as possible. Today, there are several companies that offer the ability to create a “digital tombstone” or other form of digital remembrance. Here are several questions about Internet legacy planning.
If you have more money than you're going to be able to spend during your lifetime you have to consider tax efficient asset transfers. Clearly Facebook founders Mark Zuckerberg and Dustin Moskovitz are in this situation. And, they are also in possession of shares that are going to increase in value dramatically when the company goes public.
You have to be extremely careful about giving gifts of significant value in light of the looming threat of the federal gift tax. Right now this tax carries a 35% rate, and if this was not high enough it is scheduled to rise to 55% at the beginning of 2013.
Government Regulation No. 47 of 2012 on Social and Environmental Responsibility of Limited Liability Company - Indonesia
Background - The purpose of the issuance of Government Regulation Number 47 of 2012 on Social and Environmental Responsibility of Limited Liability Company (“GR No. 47/2012") is to implement the provisions of Article 74 of Law Number 40 of 2007 on Limited Liability Company (“Company Law”) and Article 15 letter (b) of Law Number 25 of 2007 on Capital Investment (“Capital Investment Law”) on Corporate Social Responsibility (“CSR”).
With all the tools that online life allows us, more companies are offering “Digital Tombstones” that offer the promise to keep your legacy online. Here are some tips you should consider if you want to use one of these services.
If you have spent your life providing for your family and making sure they are well cared for, the thought of having to ask your family for a loan can be incredibly difficult to bear. Surveys have shown that people fear becoming a financial burden far more than they do dying, at a rate of more than 5 to 1.
A pet trust is a legal entity you create by creating a document that includes specific and legally required terms. If you use your Will to establish the trust, it will be created after you die, though you can also create a trust outside of a Will that becomes effective immediately. Once created, the trust owns property and uses it for the benefit of your pets.
When you are making your estate plan you may hear the phrase “elder law” but not really know what it means. Elder law is simply the collection of legal issues and topics that most often impacts the elderly. Creating an estate plan, for example, is one aspect of elder law, though the topic includes numerous other legal issues. Let’s take a look at some of the most common elder law issues.