The use of ‘Inc.’ or ‘Incorporated’ within the business name for a limited liability company would be inappropriate in almost all states, and in most cases would prevent the filing of the LLC documents from being accepted by the secretary of state. [ Read More… → ]

Personal income tax issues will not be imputed to the LLC itself in most instances. But any collection activity against a member of an LLC for tax matters could affect that member’s ownership rights. [ Read More… → ]

Yes, an original Will document that is properly signed and notarized would still be legal and valid — but would probably not properly provide for the gifts that you would list to pass upon your death. [ Read More… → ]

Many people purchase a home through a Land Contract from their parents. But the sale of a home to one child via land contract should also include some good estate planning via a Will or Trust — especially if there are other siblings involved. [ Read More… → ]

Most land contracts allow the current owner to retain title to the property until such time as the purchase price in the contract has been fully paid. As such, creditors most likely will not have a right to pursue a home purchased under a Land Contract, as the “buyer” in a land contract is not the titled owner until all payments are made. [ Read More… → ]

The schedule used for delinquent real estate property taxes due to a city or county depends upon the status of the property. [ Read More… → ]

Standard Legal suggest that it is best to provide “more information” vs. “not enough information” on the Chapter 7 Bankruptcy schedules. [ Read More… → ]

Any of Standard Legal’s Quitclaim Deeds will accomplish the transfer of real estate property from a Trust to an individual. [ Read More… → ]

Under most state’s laws, a party is permitted to “disclaim” any interest or assets that are attempted to be passed through a Last Will & Testament. When one disclaims property that is being passed through a Will, he or she is renouncing his or her interest in that property in total. [ Read More… → ]

For the most part, a Last Will & Testament would not necessarily be rendered invalid if there was no date on the document. [ Read More… → ]

If the heirs of a Trust believe that the Trustee is not fulfilling his or her duty as trustee, they can initiate a lawsuit in the appropriate court to compel or require that the trustee fulfill that fiduciary duty. [ Read More… → ]

Within Form B8 of the Bankruptcy filing, in the ‘describe property securing debt’ field, list one creditor under property #1 and the second creditor under property #2. [ Read More… → ]