The taxing authority for the Limited Liability Company (LLC) has the ability to determine who is responsible for making the tax payments or authorizing tax payments for the LLC – these individuals are referred to as the “responsible persons”.

The “responsible persons” indeed may be personally obligated to pay the LLC’s tax obligations. But not always.  [ Read More… → ]

Standard Legal Network is unaware of any restriction on ownership of shares of a Class C Corporation.

In fact, it is fairly common for an L.L.C. to be the owner of stock in a corporation.

Be aware, however, that under the IRS rules, a Limited Liability Company cannot be an owner of stock of a corporation that elects S tax treatment.

Get complete details here on Standard Legal’s Incorporation and LLC legal forms software here.

People change their names for personal reasons, for a return to a maiden name after a divorce, or at the time of a new marriage. Many times, a deed for real estate may show a prior name for a person who holds a stake in a particular property.

When transferring property using a Quitclaim Deed in a situation where a person’s name has changed, for clarity sake use the name as it appears on the currently filed instrument, but add the designation of “now known as”.

For example, the quitclaim deed could read “William Smith and Mary Smith (now known as Mary Jones).”

Get complete details here on Standard Legal’s Quitclaim Deeds legal forms software.

A “will contest” is the process by which someone, usually a family member of the person who died or a beneficiary listed in a Will, challenges the validity of a Will.

Generally, the legal grounds for such a “will contest” include claims that the Will document was improperly signed, the testator (the person making the Will) was incompetent or lacked the proper testamentary capacity (e.g., he or she did not understand what he or she was doing), that the Will document contains a serious mistake, or that the signing of the Will document was the result of fraud, undue influence, or duress.

There is a time limit for filing a “will contest,” and that the time frames vary from state to state.  [ Read More… → ]

Standard Legal’s Last Will and Testament legal forms software provides for a suggestion of guardianship for children.

While Probate or Family Courts make the final decisions regarding guardianship of minor children when the death of a parent occurs, wishes expressed in a Last Will & Testament carry great weight with these courts and are usually granted (except in unusual circumstances).

There is no simple form a person can file to obtain a judgment against a promissory note in which a party has defaulted. Obtaining a judgment is not “automatic”; a judgment is a court proceeding that allows the defaulting party to reply and to defend himself. [ Read More… → ]

Standard Legal recommends that any Power of Attorney be notarized and witnessed.

Many states require notarization of this document, and doing so (even in those states that may not require a notary signature) makes the document “self proving” - meaning that the witnesses would not be required to provide testimony in court to authentic the document.

Get complete details on Standard Legal’s Power of Attorney legal forms software here.

Certainly! So long as the Will is created to follow the laws of a particular state, and so long as the Will will be probated in that state, the current residency of the makers of the Will is not relevant.

See complete details on Standard Legal’s Last Will and Testament legal forms software here.

Yes. Standard Legal’s Quitclaim Deed is a deed that permits a party to transfer real property. It is a “real estate transfer deed” in which no warranties are made as to the condition of the property.

Get complete details on Standard Legal’s Quitclaim Deed legal forms software here.

A premarital agreement (often called a prenuptial agreement) must be created and signed prior to marriage to be effective.

Depending upon the state in which you live, property may become marital property automatically upon marriage if no pre-nuptial agreement is signed prior to the marriage. Creating a premarital agreement after the fact does not void these laws.

Get complete details on Standard Legal’s Premarital Agreement legal forms software here.

Divorce has no bearing on the validity of a lawfully signed promissory note.

If a person’s signature appears on a promissory note, that person is responsible for adhering to the terms outlined within the note.

Get complete details on Standard Legal’s Promissory Note legal forms software here.