Thank you one and all.
Gregg Y. Neal
]]>But what do you look for in a guardian? It’s important to choose the right person. This will be unique in every case, of course, but there are some things you may want to consider.
Start by reminding yourself that someone being willing to be a guardian may not be enough. If that person already has a large family or doesn’t have a high income, you have to ask if they could reasonably afford to raise your child.
You may want to look for someone who is very similar to you, especially when considering religious or cultural connotations. But you also want to think about things like the value they put on education or how involved they will try to be in the child’s life. Try to find someone similar to you so that it won’t be a shock for the children, and so that you know they’ll be raised the way that you intended.
You don’t necessarily have to do what your children would prefer in a case like this. You’re their parent, and you get to make the decisions for your own estate plan. But, if you have older children, it can be beneficial to talk with them and get their input. Is there someone that they would prefer? Is there anyone that they definitely wouldn’t want you to choose? For a teenager, this would have a massive impact on their life, so getting their input can help you make your decision.
Finally, just remind yourself that raising a child can be a difficult task and someone needs to be healthy, both physically and mentally. This is important to mention because many young couples are tempted to choose the children’s grandparents as guardians, but health complications could make this unwise. Grandparents may be thrilled to be part of the child’s life, but can they really raise them for years or even decades?
Once you find the right person to be the guardian for your children, think about the steps needed to set up your estate plan.
]]>If you want to dissolve our partnership or buy out your partner, there are some important steps that you need to take before you sit down to have that conversation.
The documents the two of you drafted when you first started the company could play a significant role during the end of your formal business relationship with one another. You may already have rules in place regarding the division of your business or a buyout.
Going back over your documents will help ensure that you take the right approach while planning this transition and could remind you of special conditions or terms you agreed to when you started the company.
Putting an appropriate value on the company is a key component to a successful partnership dissolution. You need to have a realistic idea of what the company is currently worth and then look at the big picture, including the business’s financial obligations and likely future revenue.
After all, you will not be able to make a reasonable offer based on the fair market value of your company if you don’t perform a thorough business valuation. Keeping the records of how you arrived at the final figure will be important if your partner questions your offer.
If you want to buy your partner out because of an interpersonal dispute, the risk is there for them to immediately turn around and create a competing business, possibly approaching the clients and customers you rely on and diminishing your company’s market share. You may need to consider adding non-solicitation or non-compete clauses to your buyout or dissolution paperwork to protect yourself and the company.
Preparing carefully when considering major business transitions will increase your chances of success.
]]>It’s helpful to know what steps to take before a crash ever occurs.
After an auto accident, there are a few things that you should remember to do. Having the right information can help you take the correct steps to help yourself and get the compensation you need.
After a crash, it’s important for you to put yourself first. That means that if you or those with you are injured, you need to call 911 and ask for medical assistance.
If you’re able to do so, check on the other people involved in the crash, so you can inform the emergency operator and let the paramedics know what to expect.
After calling 911, the police, fire department and paramedics should arrive at the scene shortly. If the police talk to you, make sure you don’t say or do anything that could suggest that you’re at fault, such as apologizing. It’s best to allow the police to take down information at the scene that is factual, such as, “the other driver ran a red light.”
Following this, it’s necessary for you to go to the hospital. Even if you’re concerned about the cost of your care, you should seek medical attention to make sure you know which injuries you have. Your doctors will set up a treatment plan to help you recover.
Finally, remember that the insurance agency for the other driver may try to call or contact you. You do not have to speak with them or negotiate with them directly. It may be helpful to refer them to your attorney’s office, so you don’t say or do something that could hurt your right to make a claim against the at-fault driver.
If you remember to get medical care, keep your documents and avoid negotiating with the insurance company before you’ve had a chance to speak with your attorney, you’ll be in a better position to seek fair compensation moving forward.
]]>Sadly, the reality of estate administration could undermine those hopes. Specifically, your estate may have liabilities that reduce its value and therefore what you leave for others. If you recognize these risks, you can adjust your estate plan to reduce those liabilities and maximize what you pass to the people you love.
Did you know that you still have to try to pay back your credit card balances even after your death or that the hospital can make a claim in probate court for your final medical bills? The law passes responsibility for debts onto the estate of a recently deceased individual.
Creditors can bring claims in probate court, and their right to repayment is stronger than the right of family members to inherit anything from the estate. Much of your personal property could wind up sold to repay creditors because of debt.
There are strict limits on how much property and income you can have if you request Medicaid benefits. However, the home that you live in usually won’t affect your application.
After you die, your personal property, including your home, could be subject to claims by the Kentucky Medicaid estate recovery program. They could seek full repayment for every cent the state spent on your treatment or long-term care.
Estate taxes only apply to multi-million-dollar estates. If you don’t have that kind of personal wealth, then you don’t have to worry about estate taxes necessarily, but there could be income taxes and even capital gains taxes that affect what people inherent. The way that you structure your estate and also how you pass property to your family members will influence what taxes those transfers incur.
The good news is that advanced planning can help you minimize the impact of Medicaid benefits, personal debt and tax obligations on what you believe behind when you die. Learning more about what happens in probate court can help you create an effective estate plan.
]]>Many of these issues deal with water, and the reason why is clear. Water damage in a home can be devastating. It can cause a lot of related damage to other places where there aren’t even any water problems. For instance, a roof leak can cause damage in the ceilings throughout the entire home.
To deal with this, the Kentucky Revised Statutes § 324.360 gives sellers a list of things that they need to disclose. They can either say that it is unknown, they can answer yes, they can answer no or they can say that it is not applicable in that situation.
To help you understand what they’re supposed to be telling you, here are the six main questions that are asked on the form:
By no means are these all of the things that sellers are obligated to disclose, but they give you a good idea of how this process works and why it’s so important to get these answers before you buy the house. They can also help you to see if anything concerning is going on. If the seller hasn’t disclosed one of these things that they are asked about, what other types of damage may they be keeping from you?
The process of buying a house may become more complicated than you anticipated, and it’s important to understand your legal options.
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While it’s true that many slip-and-fall accidents do not result in serious injuries, it’s also important to know that you should never underestimate them. In many cases, especially if you strike your head, these can be catastrophic accidents. It only takes a split second for life to change forever.
One of the most dangerous types of falls you can suffer is one where you slip backward. You can’t really catch yourself with your hands, and your back tends to hit a split second before your head. This means that your skull is often propelled backward at an excessive speed, and it can strike the ground with an incredible amount of force.
This is why you don’t have to be at any significant height to suffer a serious head injury. Just flipping over backward is often enough to cause skull fractures, bleeding, concussions and many other issues. If you don’t seek medical treatment, these issues could even be fatal. An example of this is a subdural hematoma, which leads to bleeding around the brain.
Plus, a head injury can be serious even if there is no external evidence of that injury. Your brain still goes through a traumatic experience and you could have a closed head injury. People often check for blood or other obvious signs of trauma, find none, and assume they got lucky. But it may still be important to seek out medical attention, especially if you’re experiencing things like nausea, dizziness, light sensitivity or gaps in your memory.
In addition to looking for medical assistance, you may need to know how to seek financial compensation for those medical bills. If someone else was responsible for the slip and fall accident, they may have negligently caused some serious financial and health issues for you, and you need to know what options you have.
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What’s interesting about this list of dogs that are most likely to bite is that they may not be the dogs you expected. Any one of these dogs could cause harm, though, if they become aggressive.
These five dogs are most likely to bite when around people.
At the top of the list are Rottweilers. These large dogs can do significant damage if they choose to bite. These dogs were bred to be cattle dogs, but that means they’re protective and potentially nippy in nature. These dogs aren’t necessarily the most aggressive, but they are more likely to bite.
Small and quick, Chihuahuas are some of the most aggressive dogs that people own. They may not be able to do much damage with their bites, but punctures can still become infected and lead to serious health problems.
Cocker Spaniels look cute but are easily upset. Their temperament means that they are more likely to attack or bite when feeling threatened.
Tosa Inu are not particularly common in the United States, but their likelihood of biting has resulted in them being banned in the U.K., New Zealand and other countries. Since these dogs are large, a bite can do serious physical damage.
German Shepherds are used in policing, so many people think of them as obedient pets. Properly trained, they are powerful and friendly, but they are not afraid to attack when they need to defend themselves or others.
These five dogs are statistically more likely to bite than others. If you are around one, it’s smart to make sure the owner has them leashed or under control. If they do bite, remember that you may be able to hold the owner liable for your injuries.
]]>Few pieces of property will be as valuable or as meaningful to leave to family members than the home where you live. For your children, it may be the space where they grew up. For your grandchildren, it could be a starter home that helps them get established in life.
How can testators arrange for the transfer of real estate as part of their estate plans?
The more valuable your house is, the more complications that can cause for estate administration. It could put you at risk of estate taxes if it is worth millions of dollars, or it could lead to challenges by other family members who wish that they were the ones receiving the home.
By creating a trust and using it to hold ownership of your home, you keep the home out of probate court after your death and make it harder for people to challenge your instructions. You also reduce the risk of the home leading to estate taxes.
You can add your loved one to your deed even before you die without worrying about them assuming full control over the property if you cohabitate. If you hold title as joint tenants with rights of survivorship, the person who will inherit your house will receive your share of ownership interest at the time of your death. The house won’t have to pass through probate, and other people won’t be able to make a claim against it in most cases.
If your family doesn’t live in the state or if they already own homes of their own, inheriting your house itself may not be the best gift. Rather, they may prefer to share the proceeds from the sale of the home.
This approach is excellent if you don’t have many other assets or if you think your beneficiaries would prefer to not live in the house after your death. You can always include a clause extending the first right of refusal offer to anyone in your family who wants to purchase a home for a fair market value from the estate. Thinking about how to pass on your biggest assets can make estate planning an easier process.
]]>Occasionally, it is the transportation company that employs the driver rather than the driver themselves who is ultimately at fault for a commercial vehicle collision. What are some of the scenarios where a trucking company has liability for a crash involving one of the vehicles in their fleet?
Commercial vehicles require constant maintenance and repairs due to the amount of wear and tear they endure on the roads. Failing brakes or tires blowing out could directly contribute to a serious crash.
In approximately 10% of commercial crashes caused by the big vehicle, a vehicle issue is ultimately to blame. When improper maintenance or repair causes a vehicle issue which, in turn, causes a collision, the company may have liability for the losses that result from the wreck.
Those with commercial driver’s licenses CDLs are subject to stricter regulations than other drivers. They have extra education required of them and more limitations on what they can do behind the wheel.
For example, while there is no federal law against texting while driving for most people, there is a federal no-text rule for truck drivers. There are also rules that limit how long a driver should be behind the wheel. Commercial transportation companies may pressure their workers to answer text messages while in the field or stay on the road when they should be done for the night.
It can be hard to locate responsible, reliable commercial drivers. Many transportation companies are always on the lookout for new talent.
Some of them will make major concessions regarding driving history when hiring new workers out of desperation. Others will ignore warning signs or infractions that indicate one of their drivers is at risk of causing a wreck.
If you get hurt in a crash caused by a commercial truck, exploring who is ultimately liable can help you connect with compensation and seek justice.
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