In most states, a limited liability company name must contain a specific designation - “LLC,” “L.L.C.,” “Limited Liability Company,” “Ltd.” etc.

Standard Legal’s Limited Liability Company legal forms software is state-specific and provides direction on what an appropriate designation could or must be

This issue can be quite complex and a several line response here cannot address the questions in full.  As such, the potential member with the tax liability may wish to consult an attorney to discuss this matter more fully, in advance of joining the LLC. To find a local attorney for FREE, visit Standard Legal’s Attorney Find page.

In most states, divorce terminates the right to receive assets under a Will when the former spouse is listed as “Husband” or “Wife.”

So from that perspective, your former spouse (or spouses, under multiple divorces) would not take under your Will.

But preparing a brand new Last Will & Testament eliminates any and all ambiguity or issue with who your beneficiaries really are. Details on quickly and affordably creating a new Last Will and Testament can be found at Standard Legal’s Will legal forms software page.

Most land contracts allow the parents to retain title to the property until such time as the purchase price in the contract has been paid by the buyer/child.

Depending upon how the terms of the land contract are drafted, if your parents die, you would/should still have the right to make payments on the home to continue the terms of the land contract.

But these payments would then be made to the estate of your parents — and thus a Will for that estate would establish distribution of those assets.

As such, it is best that parents who wish to enter into a Land Contract for a property also clearly spell out what should happen to that property when they die, either in a Will or Living Trust.

Details on creating legal forms for Wills, Trusts and Land Contracts can be found at Standard Legal’s software main page.

(Further, it is doubtful that any creditors would pursue the right to take over the Land Contract, as they would have to make payments to the owner before taking control of the asset as well).

Complete details here for Standard Legal’s Land Contract legal forms software.

If there is a tax lien filed by the local government because the property tax payment is delinquent, the debt is probably best listed on Schedule D, Secured Creditors.

If there is no lien filed to date, the Chapter 7 Bankruptcy filer may wish to list the debt on Schedule F for Unsecured Creditors.

Complete instructions can be found within Standard Legal’s Bankruptcy legal forms software.

As is stated in the information provided with our Bankruptcy legal forms software, it is acceptable to list both the original creditor and the collection agency on Schedule F.

Additionally, when listing the collection agency, list whatever account number that they have assigned to the account and then indicate something to the effect of “Collection Agent for Visa” in the box on the schedule concerning Unsecured Creditors (Schedule F).

The standard Quitclaim Deed transfers the property “as is” without the Grantor (the current owner) making any representations or warranties about the condition of the legal title to the real estate. Many inter-family transactions use this type of deed.

A Warranty Deed is also provided within Standard Legal’s Deed package; in it, the Grantor is representing to the purchaser or grantee that the Grantor has good and marketable title and that there are no issues with the title to the property except as stated on the deed.

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

Most states require that such disclaimers be made in writing. The disclaimer can be written and presented prior to the death of the person making the Will, or up to nine months after the death of the maker (then provided to the executor). If the person making the disclaimer is a minor, he or she can make the disclaimer within nine months after reaching age 21.

When the property is properly disclaimed, it is as if the property was never owned by the person who was listed as a beneficiary in the Will.

If a person is seeking to disclaim property for tax or estate planning reasons, he or she may wish to consult legal and tax counsels, so as to make sure that the disclaimer is properly prepared so that the value of such property is not attributed credited to such person.

An in-depth discussion of this topic can be found here.

The validity of a Last Will and Testament that is not dated depends upon the state in which the Last Will & Testament is being probated and what the state or local probate court requirements are to create a valid Last Will & Testament.

But in such a case, the witnesses who signed the Will may have to swear or provide testimony in Probate Court that the Last Will & Testament was executed before the testator died.

The lack of a date on the document could make for a potentially complex process if someone wishes to challenge the validity of the Will document. If the Will is contested, we highly suggest you find a local attorney to help with the probate process; you can find a local attorney for FREE at Standard Legal’s Attorney Find page.