FREQUENTLY ASKED QUESTIONS
Is it possible to dissolve a partnership without serious financial losses?
Yes. A partnership can be dissolved easily with the consent of the general partners; however, it depending how the partnership agreement was drafted, there may be inexpensive dissolution remedies available. If the parties have to go to court, it will likely be expensive.
What types of business or commercial matters can your firm help with?
Formation of corporations and limited liability companies and partnerships, as well as, the purchase and sale of ownership interests associated with those entities.
Why do I need to incorporate my business or form a limited liability company?
The most common reason is to insulate owners from personal liability. An alternative reason may be to avoid a higher tax rate on earnings
What is LLC formation?
It means filing articles of organization with the Secretary of State to start the new limited liability company (LLC).
What is an EIN number?
Employer Identification Number. It is a federal tax number for business entities; similar to the social security number for individuals.
Why do I need a corporate lawyer?
You need a corporate lawyer to make sure you.
What kind of legal services do you provide?
Legal representation related to real estate transactions and real estate litigation, corporate formation and transactions, and wills, trusts and probate.
What is a will?
A will is the legal document the governs how your assets are divided when you die.
Why should I have a will?
You want to have a will to insure that your assets go to your chosen beneficiaries when you die.
What is a trust?
A trust is an estate planning document that allows you to own assets and have those assets transferred to your chosen beneficiaries after you die without necessarily having to involve the Court through probate.
Why should I have a trust?
It depends on many factors, including, but not limited to, what assets you have, where the assets are located, how the assets can be titled.
What is a living will?
A living will is a legal document that specifically states your end of life desires with regard to your health care. The purpose of this document is to while you’re of sound mind to do so. The purpose of this document is to allow you to direct the withholding of, or withdrawal of any life-prolonging procedures in the event you should have a terminal condition that has been diagnosed as unrecoverable.
What is a power of attorney?
A power of attorney is a document that allows you to appoint a person or organization to manage your property, financial, or medical affairs if you become unable to do so. There are different types of powers of attorney.
What information and documents should I gather before I contact an attorney to prepare a will?
Often the attorney will have a questionnaire of the information needed, which should include: Names, addresses and ages of children and beneficiaries, Inventory and value of assets, and Identification of debts and liabilities..
What is a title defect?
A title defect means that the title to real property is not marketable. This could range from the land being sold is owned by someone else or it could mean there is a lien on the property or a prior deed was incorrectly executed. There are many things that can create a title defect.
What kind of deeds are there in Florida?
The primary deeds in Florida are Warranty Deeds, Special Warranty Deeds and Quit Claim Deeds.
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