Business Planning Is Key
Along with helping our clients negotiate and close a business acquisition, The Law
Offices of Richard Sepler understand how important it is to make sure the business will be
run smoothly and ultimately, be profitable. In order to accomplish this, especially when
there are partners or multiple owners, there needs to be a clear operating agreement. An
operating agreement protects the business by clearly defining each partner’s
responsibilities, the decision-making process, how profits will be split and how any
potential conflicts can be resolved.
When negotiating a business deal, the responsibilities of each party after the deal is
complete may often be overlooked. It is not until after the deal is completed that the new
roles must be defined. These initial conversations seem awkward, as each party wants to
have a role in their new business and earn the most money they can. An attorney can help
ease this tension by taking the emotion out of the process. This is a good idea as it is crucial
to determine a clear path forward for the new business. Often, too many differing opinions
on how to manage the company’s growth can lead to more problems and uncomfortable
situations. Ultimately, this can be detrimental to the business, which is why a clearly
defined operating agreement is critical to the success of the future business. The hiring of
an attorney is crucial to helping ensure there is a clearly defined operating agreement.
During the beginning stages of the new business, all parties should have their own
attorneys. Even the actual business itself, should have its own attorney, separately from the
partners or owners of the company itself. This will ensure that the business is also
represented, as what’s best for the business may be different than what’s best for the new
owners. Eventually, the decisions should be made based on what’s best for the business. Of
course, as the business profits and flourishes, the partners will reap the benefits. The Law
Offices of Richard M. Sepler can be either your business attorney or your personal attorney
and should not be the same as that represents a conflict of interest. Our many years of
experience handling complex business transactions have enabled us to separate the
emotion from the business and ensure all parties end up satisfied.
Passing Away Without a Will
As you or a loved one ages, it is often a scary time and you are forced to deal with
many unpleasant issues. The Law Offices of Richard M. Sepler strongly suggest you
encourage your loved ones to create a will or create one yourself to plan what will happen
to your property upon your death or the death of a loved one. There are, however,
protections in place in the state of Florida in case a person passes away without a will. This
is called dying intestate.
When someone dies intestate, their assets and property will be distributed
according to the Florida Statutes the legislature has enacted. The process of distributing the
assets is called probate. Every person who passes without a valid will must go through
probate. This statutes mandate that the surviving spouse will receive the entire estate of
the decedent. If there is no surviving spouse, or surviving descendants, the estate will be
distributed to the decedent’s parents. There are many other variations of the statutes
depending on who dies and who is left in the family tree.
Florida has also a homestead exemption that enables the surviving spouse to stay in
the home with or without a will. The homestead exemption means that when one owner of
the home passes, the surviving spouse is then the titleholder of the home automatically.
This is a very helpful provision of the Florida law and provides other benefits such as a tax
exemption. Homestead protection, however, can become tricky, if the home is not the
decedent’s primary residence.
Additionally, the intestacy laws apply to all sorts of assets. They will help guide the
distribution of insurance proceeds, bank accounts, real property and personal property. A
person can die with a will that is found to be invalid, and there estate would also then be
subject to intestacy laws. In order to dictate how the estate is distributed, it is highly
recommended to create a valid will. This will eliminate the uncertainty an intestate
distribution can create and ensure that your loved ones receive what you want them to.
The Law Offices of Richard M. Sepler and its attorneys have years of experience in creating
wills that provide the peace and comfort for its clients at a time of sorrow.
Choosing A Transactional Lawyer
Often times, finding the right lawyer to help you with your transactional needs can
be a difficult endeavor. While many law firms offer transactional services, there are few
firms that specialize in transactional practice. This makes selecting a transactional attorney
one of the tougher decisions in the legal industry. The attorneys at the Law Offices of
Richard M. Sepler has specialized in complex transactional law for many years.
Accordingly, we have a few helpful tips to ease the decision-making process.
First, make sure you know what you want to accomplish with your transaction.
Whether you are selling your business or purchasing a new one, it is important that your
attorney is able to help procure the best deal possible. Of course, there are different needs
for each side of the transaction. Many transactional attorneys are well experienced at
helping both purchasers and sellers of business. The first thing you should do with your
attorney is outline the goals you hope to achieve by purchasing or selling the business you
are going after.
Second, make sure you choose an attorney that has experience in the industry you
are dealing with. Many transactional attorneys specialize in one area – finance, real estate,
mergers, and acquisitions, just to name a few. Hiring an attorney that specializes in the right
arena will ensure you have the best representation possible for your complex transaction.
Third, make sure you’re comfortable with the attorney you select. More than
anything, you need to trust the attorney will represent your interests to the best of his or
her ability. Nothing is more important than trusting your attorney. It is the attorney’s job to
protect your assets and help you obtain the most money possible for the same.
The Law Offices of Richard M. Sepler can help you with your complex transaction in
all sorts of business arenas. But most importantly, our tremendous wealth of knowledge
and years of experience have helped us earn the trust of our clients throughout the United
States. As mentioned above, trusting your attorney is the most important factor in hiring
legal representation. After all, you’re hiring an attorney to represent you and your
The ins and outs of real estate law
Are you looking for more information on real estate law? If so, you have come to the right place. Throughout this article we will speak about what real estate law is, as well as what a real estate lawyer can do for you.
Let’s begin the discussion by defining real estate law. This is a very broad legal area that covers both federal and state statutes, as well as common law, and deals with any legal issues surrounding real estate and property. Some areas that this law cover are the rights of homeowners, renters, and tenants, property rights and interests, buying and selling property, and landlord and rental properties. Many laws differ from state to state, making real estate law quite complex.
Whether you are buying or selling a home, a lawyer is important to your quest. While a realtor will be the one to help you find the right house or the right buyer of your house, a lawyer will review any offers and contracts to make sure that your rights are being protected and that all of your duties are clearly outlined and defined.
How can a lawyer help if you are buying a new home? If you are buying a new home a lawyer can help you to understand your contract to ensure that you are comfortable with everything outlined within it. They will also help to prepare and register all legal documents, a task that can be very time consuming if one tries to do it on their own. A lawyer will also clarify the terms of your mortgage and help assist with your banking mortgage. They will also read over all closing papers, arrange for insurance protection, and ensure that you receive a valid registered ownership.
Not only can a lawyer help you in purchasing a new home, they can also help you to sell your home. When selling your home, a real estate lawyer will help you to prepare the sale agreement, as well as the deed and power of attorney. They will also attend to the closing papers, arrange for transfers of security deposits, and arrange for insurance certificates. Most importantly, a real estate law miami will help you during each process of selling your home and deal with any issues as they arise.
How to obtain a probate in five easy steps?
If you need to obtain probate and are wondering how to go about it then the information that is about to follow will help you get off to a “fast start”.
But before you get into that it may help if you recap on what “probate” is and why it is required. The term “probate” is commonly used to describe the process of dealing with a deceased person’s estate (their money, possessions and property). The executor of the Will needs to apply to the Probate Registry for a “Grant of Probate” so that they can legally collect money from banks, building societies and other organizations which hold assets belonging to the deceased person, as well as sell or transfer ownership of a property. Without a Grant of Probate these assets will remain “frozen” and inaccessible.
If the estate is straightforward, it is perfectly possible for the executor of the Will to obtain probate without the need for a solicitor.
7 Steps to Obtain Probate:
- Locate the original Will. Probate miami is rarely granted if there is only a copy of the Will available. The Will should be checked to establish who has been appointed as the “Executor”. It is the responsibility of the Executor to apply for Probate and carry out the terms of the Will.
- Notify all interested parties of the death. This need to be done in writing and the death certificate should be enclosed. Interested parties include banks, building societies, insurance companies, share registrars, investment and ISA providers, pension providers, tax and benefits authorities, creditors and so on.
- Value the deceased person’s estate. A date of death valuation of the deceased’s assets needs be obtained as this information has to be declared on the probate and inheritance tax forms.
- Work out whether any inheritance tax is payable. For the tax year 2011/12 inheritance tax is not payable if the deceased person’s estate is valued below the inheritance tax threshold of £325,000. No inheritance tax is payable if the spouse is the sole beneficiary of the estate. If the deceased was a widow or a widower the inheritance tax threshold is increased to £650,000.
- Complete the inheritance tax form. For estates valued below £325,000 form IHT205 should be used. If inheritance tax is payable form IHT400 should be used.
Keep away from estate planning faults
Estate planning is important; without one, your loved ones may have to wade through tedious legal procedures after you die and your final wishes may not be recognized by state probate and intestate laws. In fact, the most common mistake people make when planning their estates is not actually taking the time to plan. To ensure that your last wishes are acknowledge, talk to an attorney and begin planning for the security of you loved ones today.
It is important to name a legal guardian for your minor children in your estate planning miami. Until now, you may have assumed that estate planning only involved your personal possessions and economic property. This is false. Without an assigned, legal guardian, the state will decide who raises your children if you die before they reach legal adulthood. You can only assigned guardianship in a will. Avoid this mistake by making sure that your children’s future is protected in your estate plan.
Joint ownership is another mistake that people make when planning your estate. It is not unusually for elderly people to add an adult child to the title of their belongings and assets to avoid complicated legal procedures after they pass away. This may be problematic for several reasons. First, joint ownership decreases the amount of control you have over you estate – you might even lose some of your assets to your joint owner’s creditors or ex-spouse.
After you die, your assets will probably be distributed via the probate process. If you have a will, your loved ones cannot receive their inheritances until probate is complete. One general error make by individuals planning their estates is worsening to keep away from probate. Probate is boring, but you may be able to avoid it by establishing co-ownership, beneficiary designations or a revocable living trust. Because co-ownership is not preferred, the best way to avoid probate is through a living trust.
The dissimilarity among wills and trusts
The dissimilarity among wills and trusts are theatrical in conditions of probate evasion. Probate is where a court supervises the distribution of your estate once you pass away. Unfortunately, due to budget cutbacks related to recent economic woes, the probate process can easily take two years on average and can cost between 6-8% of your estate’s value. For these reasons, many people seek to avoid it.
A majority of people come without any idea of how a will actually works. They think that in Miami, having a will prevent your estate from going into probate, when actually, the opposite is true! By definition, having a will guarantees that your estate will enter probate. The purpose of a will is to allow a Miami judge to supervise the administration of your estate. It tells the probate judge, “upon passing you are to make sure that your executor, X, distributes your estate to your beneficiary, Y.” X must now distribute your estate to Y with judicial oversight.
Now compare this to a living trust. A wills and trusts miami is a legal creation that will avoid probate. People die, but legal entities can live forever- just look at the Miami Constitution! You create a trust during your lifetime and assign all of your valuable assets through its various legal documentation capabilities. The idea is that because Trusts continue indefinitely, if your assets are held in a trust, they will continue being owned by it even after you pass away, and hence avoid probate. During your life you are the manager of the trust (the initial trustee), meaning that if this is a revocable trust, you can go about adding, subtracting, and changing the trust and its property however you wish. Once you go by, your named heir trustee takes control, and must distribute the trust property according to your trust’s terms, and this bypasses probate.
Six Contract Negotiation instructions
Contract negotiation is definitely not for everyone. You know far too many people who are far too timid to be rough, hard, and determined to get the best contract possible, particularly when it is B2B contract negotiation. You have congregated a few of your top contract negotiation plans and built-in them here. You negotiated local and national contracts for a few years, and you can say that each negotiation is very different, but there are several similar undertones, just like in the sales process.
No matter how well you know the individuals you are negotiating the contract with, you should always take the emotion out of the negotiations. If you don’t, then things can get personal and that is never good for business.
Negotiate in parts
Some contract negotiation miami can be broken into parts, depending on how complex the contract is. If there are multiple parts that you can break the contract into, do so. This will help everyone keep a clear picture of the negotiations and keep score, so to speak, of who is getting what.
Make it a win-win
Don’t go in expecting to get everything for free; as that frequently doesn’t occur .Make sure everyone is getting what they want out of the contract.
Ask for what you want
There’s no harm in asking for what you want. There’s no impairment in inquire. They just may award your appeal, or ask for something in return.
If there are any points that you are unsure about, or think might have a different meaning than what you are interpreting it, ask. Ensuring full clarity on what is written is important to know what you should and should not ask for.
Contraction contract drafting consideration
When a construction project is planned, whether it is a large commercial construction project, a new residence, or even a renovation to an existing property, to decrease future problems, care must be taken to include essential terms in the contract drafting. The failure to properly address essential terns will lead to project confusion, extended completion time and expenses, as well as raise the likelihood of legal disputes arising.
Identify Parties and their responsibilities
With the number of parties involved in a typical construction project, a clear understanding of who is involved is essential.
Scope of Work
In addition to knowing the parties involved in the work, it is also necessary to determine what each person will be performing on the project, also known as their Scope of Work. To avoid confusion between contractors, subcontractors, and suppliers the Scope of Work should clearly state what each party is responsible for.
Nothing causes misunderstandings faster on a construction project then having work performed before a clear understanding and approval of the corresponding price to be charged is reached. By clearly defining the payment terms these potential misunderstandings can be avoided.
Scheduling and Delays
The orderly, efficient, and timely completion of a construction project rests with the proper advance scheduling of the trades, and anticipating potential delays. Proper contract drafting miami language may be used to assign financial liability for any delays caused by parties’ failure to perform in their agreed time frame.
There are times that parties to a construction project must proceed on certain assumptions as to existing conditions. Often conditions needing to be examined are either hidden or otherwise concealed. After work has commenced however it may be discovered that those basic assumptions as to conditions may be quite wrong. Who should bear the risk of any unseen conditions?
Changes to the Work
It would be nice once ‘final plans’ are issued to think that no subsequent changes were to be made, but that is not realistic. Typically there may be multiple changes introduced after the approval of ‘finished designs’. Sometimes the Owner has made a change, or perhaps approved materials are not available and substitutions must be used, or there may be changes to accommodate an incomplete design. An effective contract construction will include provisions to allow for these later changes.
At the Law Offices of Richard Sepler, one of our areas of expertise is probate in Miami. Probate estate is all real and personal property owned by a person that can be transferred at death by a will. Probate in Miami is the process by which a will or trust is administered upon death. A probate can often become contentious and expensive for the family but can be avoided if the benefactor’s death is planned for accordingly. Generally during a probate in Miami, a local court supervises the probate process through a personal representative of the descendent. This personal representative can either be an executor appointed in the decedent’s will or through a court appointed administrator if the descendent dies without a valid will. The executor or administrator then becomes the descendant’s legal representative who will take care of matters such as collecting bank accounts and money owed, paying off debts, creating a clear title to make real estate marketable, and distributing what’s left to those mentioned in the legal will.
This is where the Law Offices of Richard Sepler can help. We understand how difficult it is to lose a loved one and we aim to help lessen the stress beforehand by providing a plan to create the necessary tools to avoid a contentious battle over the assets left behind. The Law Offices of Richard Sepler has experience with probate for over 60 years and has provided valuable legal assistance throughout South Florida for many years. Here at our office, we specialize in probate avoidance by helping families create trusts and other legal mechanisms that aim to remove pressure and stress on the family during a difficult time. Provided that all documents are accurate, The Law Offices of Richard Sepler will make sure that the probate proceeding runs smoothly and easy. Probate in Miami.