Articles Archive for October 2008
Name Change »
The process of changing your name from what it was at birth, marriage or adoption requires a legal act by way of court approval, if you want to do it right.
Other than for fraudulent purposes you can change your name at any point in your life, the Fourteenth Amendment of the US Constitution allows you to change your name. You may choose one of several forms to deal with the name change, the most common is “at will”. State laws can still regulate name changes at will but are unable …
Living Wills »
What are Living Wills?
A living will is a legal document expressing the wishes of that person on how they wish to live their end of life if they are not able to make decisions or communicate at the time, due to illness, injury or old age. Through medical advances life can be sustained artificially, prolonging life over and above what would have naturally occurred. They are sometimes called advance directive, health care directive or physician’s directive depending on the content of the living will.
What’s the point of have a Living …
Limted Liability Partnerships »
What are the Advantages of LLP?
Limiited Libility Partnership is not considered to be a separate entity for the purposes of income tax — any profits and losses of an LLP are passed through to the partners this avoids double taxation.
A partner in a Limited Liability Partnership is only personally liable for his or her own negligence or that of an employee working under the partner’s direct supervision.
A partner isn’t personally liable for the negligence of anyone else in the firm. However, the partner can not negate liability for a large …
Incorporation »
When we think about an incorporated company we normally think about the advantage of incorporating our business to have the protection of not being personally liable for the business’s debts and liabilities. This means that the creditors are only able to look at the company’s assets to recover the money owed by the company. If there are insufficient assets in the company to satisfy the amount the creditors are owed then unfortunately it is there loss. As they are unable to get anything further from the personal possessions of the …
Business Formations »
Partnerships as a legal form of business have been around for a very long time, and has been a formation that has been recognised in common law and also under the Uniform Partnership Act, or sometimes called the (UPA.) The Uniform Partnership Act has been adopted in almost all states of America.
The process of forming a partnership is quite simple. It is the agreements between the partners that are often complex and time consuming. A partnership is defined as two or more people who must associate together to: carry on …
