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Components of a Comprehensive Estate Plan

Components of a Comprehensive Estate Plan

Estate Planning
An estate plan is not fully effective unless it is comprehensive. Finding out too late that something is missing could cause legal issues for your family. Here is what you need for a comprehensive estate plan. Wills Your will specifies the division of your assets after you die. It is the governing document that expresses your own wishes. Without it, the court would decide who gets what from your estate.  This is perhaps the key piece of estate planning that nobody can be without. The will could also cover things like your funeral plan and your wishes for your children. Power of Attorney Your estate plan does not just take over when you die. It also helps your family as you are no longer able to make decisions. A power…
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Planning a Road Trip? Know the Accident Risks

Planning a Road Trip? Know the Accident Risks

Auto Accidents
Road trips can form the basis of personal memories that last a lifetime. However, there are also risks involved when you are spending long amounts of time on the open road. Here are a few. Distracted Driving When you are on the highways for extended periods, chances are that a distracted driver may put you at risk. Some drivers think that a long car trip gives them an opening to check a text or an email behind the wheel. In the few seconds that they look away from the road, their car can travel the length of a football field. They could either drift from their lane or lose the valuable split second that it takes to stop and avoid an accident. Distracted driving is not just texting. It could…
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What to Know Before Hiring Your First Employee

What to Know Before Hiring Your First Employee

Business Law
Here is what you should know as a business owner before you hire your first employee. Having workers can be beneficial, but it also subjects you to various requirements. Learn About Employment Laws There are a number of laws that apply to the employment context. They include: Discrimination statutes Workplace safety laws The Fair Labor Standards Act (FLSA) The Employee Retirement Income Security Act (ERISA) State employment laws Violating any one of these laws could open you up to a lawsuit or an enforcement action. It is important that you understand what laws apply to you and how to follow them. This is where you should seek the advice of an attorney. Change Your Business Structure When you have employees, you may be subject to employment-based lawsuits. This is when…
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Practicing Distracted Driving Awareness Month in April

Practicing Distracted Driving Awareness Month in April

Auto Accidents
Despite numerous local laws to prevent distracted driving, motorists still need a reminder of the dangers. Lives are at risk when they give anything less than their full focus behind the wheel. April is Distracted Driving Awareness Month aimed at educating drivers of what could happen when they do not pay attention. Distracted driving fatalities are on the rise. In 2019, more than 3,100 were killed in these accidents, which represented a 10% increase from the previous year. Young people especially drive distracted more often. Things like e-mails and social media compete for drivers’ attention. The Types of Distracted Driving Of course, texting while driving is a prime example of distracted driving. However, there are three types of distracted driving: Taking eyes off the road Taking a hand off the…
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How Can You Know the Value of Your Business?

How Can You Know the Value of Your Business?

Business Law
Knowing how much your business is worth is important for a number of reasons, including: You are considering a corporate transaction. You are engaging in estate planning. You are insuring your business. Either way, business valuation can be challenging, especially when much of your company consists of illiquid assets. There are a number of ways to value your business. Here are three ways to know what your company is worth: Earnings Assets Cash flow Earnings Method The value of your business could depend on how much money you make. A prospective buyer would be willing to pay for future earnings. They would use a certain multiple of your earnings or revenues as a guide for how much to pay. Buyers would not just be looking at what you made last…
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What Happens if You Become Ill or Die Without an Estate Plan?

What Happens if You Become Ill or Die Without an Estate Plan?

Estate Planning
Lawyers often tell clients about the risks of not having an estate plan in place. This is more than just a scare tactic to generate business. Attorneys know what your family is facing without estate planning documents to guide them. A will or trust is a way for you to assert your own control over your assets and estate. Without these, the state would assume all control. Your property would end up in probate court, and it would be a judge who makes all decisions about your property. The judge would apply Florida state law to divide your property, and it may not be in accordance with your wishes. The Court Decides Asset Division Usually, it is the spouse and children who have first priority, but the division between them…
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Steps to Starting an Online Business

Steps to Starting an Online Business

Business Law
Many bricks-and-mortar businesses faced serious struggles during the pandemic, and some owners looked toward online business as a solution to protect their futures. If you have an idea for an online business or are making the transition to online transactions, you can have more security should another natural disaster or unexpected situation arise. Online companies are still companies that have many legal concerns and compliance requirements. Even though you don’t have to find the right commercial property to lease, you should not ignore the other steps you should take. Always have the guidance of a Boca Raton business startup attorney. Choosing a Company Name Online companies should put particular thought into selecting the business name. You want to make sure the name is available for registration in your state, as…
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Taking Action for Trade Secret Theft

Taking Action for Trade Secret Theft

Business Law
Trade secrets are critical assets for many businesses, and even with all of the proper protections, employees or competitors can still steal trade secrets and misuse the information for an unfair advantage. If your company had any trade secrets stolen, you should discuss the legal action you should take with a Boca Raton business litigation attorney right away. Relief for Trade Secret Theft In order to have legal rights to protect your trade secrets, you must ensure the information is not easily accessible and is treated as confidential within your organization. This includes having those with access sign non-disclosures agreements, having information password-protected, and more. If you properly protected your trade secrets, you can take action if someone misappropriated the information under state law. You can file a claim with…
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Common Spring Break-Related Injuries

Common Spring Break-Related Injuries

Personal Injury Attorney
Spring break is here in March and April for schools and universities across the United States, and you can expect many people to arrive in Florida for vacation. Whether you are on a family vacation or a trip with your college friends, it is important to stay aware of injury risks on spring break. Car Accidents If you take a road trip, there is always the risk that you can be involved in a crash. Fatigued or distracted driving are common among traveling highway drivers, and these can both lead to collisions. In addition, with alcohol being so prevalent for many spring breakers, you should be aware of the increase in drunk driving in the Boca Raton area. Drunk drivers of all ages can cause serious accidents that result in…
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Does Your Business Have a Buy-Sell Agreement?

Does Your Business Have a Buy-Sell Agreement?

Business Law
Many people have brilliant business ideas, but they are unsure of what agreements and documentation they should have in place to protect the owners’ rights and interests. A common misconception is that a buy-sell agreement is one needed when you are purchasing or selling a business. In reality, it is an agreement that all multi-owner companies should have. A buy-sell agreement is also commonly called a buyout agreement, as it dictates the rights of other owners to buy out one owner’s interests under certain circumstances. For example, one owner’s interests might be vulnerable due to: Divorce Bankruptcy Retirement Incapacitation Death The last thing many owners want is for a spouse or someone else who has never been involved in the business to then have a stake and a vote. Instead,…
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