Deciding how to handle a family business in a divorce can be a difficult issue. Many factors go into valuing a business and deciding how it should be equitably distributed....
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The choices for business entities are expanding, often making it confusing to decide what kind of business entity is right for you. The choices include: Sole Proprietorship, Corporation, General Partnership, Limited Partnership, Limited Liability Company, along with numerous choices for structuring these entities. An informed decision of which entity is best for your business involves an evaluation of numerous legal as well as other factors. You may know, for instance, that a corporation affords your business certain protections from liability which you would not have as a sole proprietorship. To take advantage of this protection, it is necessary to maintain...
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How to Anticipate and Avoid Life's Legal Problems By: Sherri K. DeWitt, Esquire DeWitt Law Firm, P.A. Before I went to Law School I had a career teaching at the University level. It was relatively calm, secure, and structured. You would think that would be comforting. However, it was not. I always wondered what would happen if I had to deal with some real life problems, outside of the Ivory Tower. In my bones I knew that someday I would have to face the practicalities and legalities of life's problems to come. The certainty that one day I would have to face these problems...
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FORECLOSURE: WHAT TO DO WHEN YOU CAN’T PAY YOUR MORTGAGE Before Foreclosure It is important to be proactive when faced with financial hardship. A little advanced planning often can avoid a more difficult situation later. The options available for avoiding foreclosure are more likely to be successful the earlier you decide on a course of action and put it into place. Some recommendations include: 1. applying for a loan modification 2. Putting your house on the market. 3. talking to your lender about a deed in lieu of foreclosure 4. requesting pre-suit mediation. A. Loan Modification When you apply for a loan modification can...
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INVESTORS BEWARE: HOW TO AVOID LOSING YOUR PROPERTY IN A TAX DEED SALE Many landowners who purchased real property during the years when real estate was the investment of choice are failing to pay the real estate taxes on those properties and are losing them at tax deed sales. Investors may forget about the payment of taxes on these properties and may not receive notice of tax deed sales. This is because notices of past due taxes are often sent to the property address. The property may be vacant land or may be occupied by tenants who do not forward these...
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Don't Sweat the Small Stuff: Let Someone Else Do It for You By: Sherri K. DeWitt, Esquire DeWitt Law Firm, P.A. The world is the same size as it was two hundred years ago, but it seems a lot smaller. Individuals are more mobile and business is more global. Communication is now almost immediate. No longer do we have to wait for a ship to cross the ocean to receive correspondence. It can be emailed or faxed in a matter of seconds. The result is that we are all under much more stress. Others expect us to respond immediately to almost all of the...
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