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How Much Does a Divorce Cost?

People who are contemplating getting divorced have many questions. One of the most common is how much their divorce will cost. The costs will vary, depending on such factors as whether or not you and your spouse agree on the major issues, and whether you will require the services of an attorney. There are ways to get divorced without spending a fortune. Advance planning for your divorce will give you a better idea about how much it will cost. What Does the Average Divorce Cost? The average divorce cost is a relative term. Different factors determine whether the cost of divorce will be on the high or low end of the spectrum. Things that factor into the cost of a divorce include: Where you're getting divorced Whether you're using a lawyer for your entire divorce or only part of it Whether you have children Whether you're doing it yourself Whether you're doing your divorce online Whether you're using mediation or collaborative divorce Whether you agree with your spouse about major issues Whether you need to go to trial

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Ulysses lawyer 2020-01-02 20:22:51
What Is a Dissolution of Marriage?

If you are seeking to end your marriage, you need a dissolution of marriage for you and your spouse. There are a variety of steps in the process to dissolve a marriage. What Is Dissolution? Dissolution is the formal, legal ending of a marriage by a court, commonly called a divorce. A dissolution of marriage completely ends your legal relationship as spouses and ends your marriage. Unlike an annulment, a dissolution does not “undo" the marriage as if it never existed. Instead, it is a legal close to the marriage. How Do You Get a Dissolution of Marriage? To obtain a dissolution or marriage divorce, one spouse must file a divorce petition, also called a petition for dissolution of marriage. The dissolution of marriage form varies by state, and can be found on your state court website. This form usually asks for basic information about you and your spouse (such as names, addresses, dates of birth, and date of marriage, as well as information about any minor children) and asks you to indicate the reason you are seeking a divorce (called the grounds for divorce—note that all states now have a no-fault grounds available). The dissolution papers also ask if the petitioner (the person filing) is seeking custody, child support, spousal support, or property distribution. The Dissolution Process Once the petition is filed, it must also be legally served on the other spouse (in some states the order is reversed—you serve it, then file it). The other spouse (upon whom the petition is served) then will have the opportunity to answer and state what he or she agrees or disagrees with in the dissolution papers. As the divorce process moves along, the petitioner may need to file a more detailed complaint, explaining exactly what they are asking for and why. The spouses have to provide complete financial disclosures to each other and to the court, detailing all of their assets and debts. Most cases settle without a trial, either through negotiation or through mediation or collaborative law. If the case does not settle, it will move forward to a trial, where each side will present evidence and testimony about all of the issues being decided. If the case goes to trial, the entire process can take many months and possibly more than a year to reach the final resolution. Do You Need a Lawyer? It's generally recommended that you at least talk with an attorney about your divorce case, so that you can understand all of your rights and the specific procedures required in your state. If you and your spouse are in agreement, it then can be fairly simple to move ahead and handle the divorce yourselves or with assistance from an online service.

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Ulysses lawyer 2020-01-02 20:20:09
Can I Form an LLC While Employed or Working at Another Job?

Have a brilliant idea for a new business but personal circumstances won’t permit you to quit your job to start up a full-time business? Or maybe you just need to make some extra income to supplement the money you take home from your day job? If you’ve been thinking about starting up a side business while you’re still employed, and an LLC, or Limited Liability Company, seems like the ideal vehicle for this side business, you may be wondering if you can form an LLC while employed or working at another job. Starting a business on the side while still holding down your day job is an ideal way to dip your toes into entrepreneurial waters. It’s also a good way to earn some much-needed supplementary income. But in most cases, you want to hang onto your regular job, whether it’s because the regular paycheck will help your new start-up business stay afloat until it becomes financially viable or whether you’re just wanting to start a side business to earn some extra money. It’s therefore a good idea to make sure your idea to start an LLC won’t lead to unwanted consequences when it comes to your job. State LLC Formation Rules And Regulations You may think you are barred from starting an LLC while employed at another job because of state regulations for forming an LLC. State laws regulating LLC formation do vary from state to state, but while there are different procedures to follow depending on the state in which you live, states do not look into your employment status when you’re submitting an application to form an LLC. When it comes to complying with the legal rules required to start an LLC, whether or not you’re employed at the time you start a business is irrelevant to your state’s LLC registration regulations. Have a brilliant idea for a new business but personal circumstances won’t permit you to quit your job to start up a full-time business? Or maybe you just need to make some extra income to supplement the money you take home from your day job? If you’ve been thinking about starting up a side business while you’re still employed, and an LLC, or Limited Liability Company, seems like the ideal vehicle for this side business, you may be wondering if you can form an LLC while employed or working at another job. Starting a business on the side while still holding down your day job is an ideal way to dip your toes into entrepreneurial waters. It’s also a good way to earn some much-needed supplementary income. But in most cases, you want to hang onto your regular job, whether it’s because the regular paycheck will help your new start-up business stay afloat until it becomes financially viable or whether you’re just wanting to start a side business to earn some extra money. It’s therefore a good idea to make sure your idea to start an LLC won’t lead to unwanted consequences when it comes to your job. State LLC Formation Rules And Regulations You may think you are barred from starting an LLC while employed at another job because of state regulations for forming an LLC. State laws regulating LLC formation do vary from state to state, but while there are different procedures to follow depending on the state in which you live, states do not look into your employment status when you’re submitting an application to form an LLC. When it comes to complying with the legal rules required to start an LLC, whether or not you’re employed at the time you start a business is irrelevant to your state’s LLC registration regulations.

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Yates Hirschi lawyer 2019-12-27 11:14:58
How to write a declaration letter

A letter of declaration is used to declare something or to verify that the recipient understands a particular issue. A letter of declaration has a format similar to any other formal letter. Sometimes formal letters like a declaration letter may need to be sent via certified mail or the signature must be signed in ink in case it may be used for legal purposes later. List your contact information on the left margin of the page. Your contact information may include your name, address and phone number. Leave one space and type the date you are writing the letter. List the name of the recipient, as well as her address and Postcode. Greet the recipient by her first and last name or last name only. State the reason for the declaration letter. For example, the first paragraph should explain the declaration you are making. It should be approximately one to two sentences. Provide further details of the declaration/intention. For example, if you are declaring a promotion write one to three sentences to list the top reasons why you deserve the promotion. Reiterate your declaration and also provide next steps for the recipient to respond to your declaration. For example, if requesting a promotion mention a time for you all to physically sit down and discuss the promotion, including details regarding your availability.

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Ulysses lawyer 2019-12-27 11:08:51
What is Title Insurance?

Buying a new home involves investigations into the property to ensure that the home's condition, the property, and other significant factors are acceptable. But certain facts about a home or a piece of land may be difficult and even impossible to discern, such as fraud on a property's previous mortgage or title deed. This is where title insurance comes in. Title insurance protects you against claims and errors related to ownership or the title deed, which occurred prior to your purchase, but came to light afterward. When you purchase a home with a mortgage, your lender requires you to purchase a title insurance policy called a lender's policy. This policy protects the lender's financial interest in your home up to the amount of your mortgage, should a title claim arise. Since the mortgage amount is often less than the home's sale price or its value – due to your down payment contribution – a lender's policy doesn't cover the full amount of a home's cost or value. An owner's policy covers more than the loan amount. It protects your interests in the event of an adverse claim by paying the legal fees to establish a clean title. Cash buyers who do not need a mortgage do not purchase a lender's policy, but usually do purchase an owner's policy for their own protection. You pay the cost for title insurance only once, and the coverage continues as long as you hold title, and even after you sell the home. At closing, your share of the title fee – or premium – for the lender and owner's policies are paid through your settlement fees, also known as closing costs. The cost of title insurance typically varies based on the home price and the state you live in, and can range from several hundred dollars to several thousand. The national average premium was $1,000 at the time of publication. The title examination or search, as well as any title defect that is discovered before you close, can affect the cost.

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Silvln Crowley lawyer 2019-12-26 21:08:41
Selling Your Patent: What You Need To Know

A patent is an important document which grants ownership to an invention. However, simply owning a patent won't generate a dime for the inventor. To profit from your idea, you must sell the patent, license usage rights, or market the product yourself. Months—or years—of tinkering and experimenting have turned your idea into a viable product. A successful patent search and patent application fees have resulted in you getting a patent for your invention. Now what? A patent is an important document which grants ownership to an invention. However, simply owning a patent won't generate a dime for the inventor. To profit from your idea, you must sell the patent, license usage rights, or market the product yourself. Take the Money and Run When you sell a patent, you are guaranteed a quick payoff for your idea. Thousands of inventions are patented each year but only a minuscule amount actually generate substantial, if any, profits. Some languish so long that their patent expires. By selling a patent outright, you at least gain some financial reward for your invention. Selling a patent allows the inventor to generate income that will help pay the bills or finance other promising ideas. Selling a patent outright also eliminates the huge financial outlay required to start up a business based on a new product. Although a quick, hassle-free payoff sounds enticing, by selling the patent the inventor gives up the right to future profits from his or her creation. In addition, the money earned from selling a patent may not be substantial unless the product has been on the market for a long time. The patent buyer usually won't want to spend a lot for an unproven product that might not generate a big profits. But what if the product does becomes a hit? You sold the patent for $500 but new patent owner rakes in $500,000 in profits! Deciding on an outright sale of your patent depends on the invention. Is it an innovative idea that will revolutionize an industry? Or are there similar products already on the market? Licensing Rights Licensing the right to make, use, or sell your product is usually the most profitable route for inventors. As patent holder, you retain ownership of the invention and earn royalty payments on future sales of the product. You can grant an exclusive license to one company or several companies. Your invention stands a better chance of generating big bucks if licensed through a well-known company that already has the consumers' confidence. In addition, the licensee assumes liability for any product mishaps. Like selling a patent, licensing usage rights is no guarantee of financial riches. If the product fizzles in the marketplace, so will your royalty checks. Royalty rates run from 5% to 20%, so the product would have to sell quite a bit for the patent holder to earn big money. Relationships with a licensee can go bad, thus costing you more legal fees and headaches. Before signing over licensing rights, research the potential licensee and contact inventors' organizations such as United Inventors Association. Self Help If you make and market your invention yourself, all the profits will go to your bank account. However, those profits may be eaten up by legal and accounting fees, business start up costs, and headache medicine. Most inventors make lousy business folk. Unless your invention requires scant start up capital and you are well-versed in business bureaucracy, it is probably wiser to sell your patent or license usage rights. Selling or Licensing Options Be professional with your marketing efforts. Prepare formal letters and nice looking brochures to showcase your invention. It also helps to have a prototype or at least a good drawing of the product. 1. Direct Contact: Make a list of manufacturers and potential users of your invention. The Thomas Register, available in libraries and online, has contact information for thousands of companies. The Yellow Pages and Internet are also good research tools. When making contact with a firm, present yourself as a Product Developer, not an inventor. Request a face-to-face meeting with a Sales or Product Manager in the company. This option is only advisable once you have actually secured a patent. Otherwise, you must ask the company to sign a non-disclosure agreement before discussing your idea. However, most companies will not sign this agreement as their R&D team may already be at work on a similar idea. 2. Trade Shows: Attend trade or invention shows where you will encounter companies or individuals interested in your product. 3. Advertise: Buy space for new product announcements in trade publications and inventors' magazines to generate potential patent buyers. The Patent Trade Office publishes a gazette where inventors can advertise their products for around $25 4. Venture Capital: Finance your invention by soliciting partners to provide capital required to launch the product. 5. Patent Website: Several companies have sites on the Internet where inventors can advertise their patents for sale. Some sites are free while others charge a fee if the patent is sold. Before posting your invention anywhere, check out the United Inventors Association website which has news on unscrupulous invention schemes. 6. Brokers and Submission Companies: A contingent fee broker will market your invention to manufacturers and receive payment for services if the product is sold, typically in the form of a percentage of royalties or cut of the sale. Never pay a broker in advance for his services. Reputable agents will only charge you if they sell your invention. Beware of invention submission companies. There are lists of inventors who have paid thousands of dollars to these companies and have nothing to show for it but an empty wallet and broken dreams. Many of these companies have been charged with fraud by Attorney General offices in various states and by the federal government. Before using the services of any broker or company that offers to market your invention, check them out through the Better Business Bureau and United Inventors Association. With good research and a viable product, you just may be able to turn that patent into a moneymaker.

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Felix Mitzner lawyer 2019-12-25 21:11:48
How to Find a Company's EIN Number

A party can find a company’s Employer Identification Number (EIN) by requesting it from the company. When a company is publicly traded and registered with the U.S. Securities and Exchange Commission, the party can use the SEC's Electronic Data Gathering, Analysis and Retrieval (EDGAR) system to turn up documents that contain the EIN. A party can find the EIN of a tax-exempt nonprofit organization by using a search tool on the IRS website. What Is an EIN? An Employer Identification Number is a nine-digit number that the IRS gives a business to identify it for tax purposes. The IRS assigns EINs to for-profit businesses, as well as to trusts, estates, nonprofits, farmers cooperatives and real estate mortgage investment conduits, which are corporations, partnerships, trusts and associations that are exempt from federal taxes. An entity is eligible to get an EIN if it has employees; operates as a corporation or partnership; withholds taxes on income other than wages paid to nonresident aliens; has set up a Keogh or solo 401(k) retirement plan for self-employed persons; or files employment, excise or alcohol, tobacco and firearms tax returns. An excise tax is a tax paid when a purchase is made on a specific good, like gasoline. Looking for the EIN A business’ EIN can be found on documents that the SEC requires publicly traded companies to file. One example is a Form 10-K, a company’s annual report to its shareholders. A business’ EIN may be located on a Form W-2 in box “b” and on Form 1099 under the company’s name and address. A party can use a service like EIN Finder to look up an EIN. He can also use a search engine such as ReferenceUSA to find an EIN. Other Ways to Find an EIN If the person is authorized to receive an EIN from the IRS, she can call the IRS’s Business & Specialty Tax Line to get the EIN. Authorized persons include sole proprietors, partners in a partnership, a corporate officer, a trustee of a trust and an executor of an estate. A party can also hire a business to look up a company’s EIN. He can search for local or federal registration forms that a business has filed that may contain an EIN. In addition, he can purchase the company’s business credit report, which may contain its EIN.

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Ulysses lawyer 2019-12-24 13:29:39
Is it Time to Convert Your Sole Proprietorship to a Corporation or LLC?

One of the biggest issues a small business owner must face is whether to incorporate, and if so, when. The question is: Why it so important to form a corporation or LLC? And how do you know which legal entity is the right type for your business? Many people start their businesses as sole proprietors. Often, it is because they aren't really planning their business and just started selling a product or service. Sometimes, they don't want to go to the effort or cost of incorporating until they know if the business is viable. Other times, they don't feel their business is risky enough to need protection. In a sole proprietorship, the owner of the business and the business are a single entity. Only one person owns the company and instead of paying corporate taxes, the owner pays personal income tax on any profit. This type of business has some advantages because there is less paperwork—for example simpler tax returns—and there are fewer regulations. Make a profit? It is all yours. On the other hand, if there are problems such as lawsuits? Those are all yours, too. A corporation makes your business a distinct entity. In other words, it separates your business assets from your personal assets. Worried because you are the only person in your company? That is just fine; one person or multiple people can own a corporation. In most cases, if you are considering incorporating your small business, you will want to investigate S corporations. These are corporations especially designed for small businesses. S corporations are not usually required to pay corporate taxes; instead they only pay taxes on dividend earnings. Growing fast? Want to issue stock? A C corporation will allow you to issue stock and set up a board of directors, but you will have to pay corporate taxes. An LLC, a Limited Liability Company, is a different type of business entity. Like a corporation, an LLC offers protection for the owners' personal assets in the event of lawsuit or debt. The owners—called members when the firm is an LLC—can collect their profits through the company without paying corporate taxes in many states. There is also greater flexibility in how profits can be distributed amongst the owners than in corporate structures.

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Kongove Mathis lawyer 2019-12-20 17:38:55
Do You Need a Physical Address For Your Business?

When it comes to a physical address for their businesses, home-based business owners often face a dilemma: because they run their business from their home, there are both privacy and safety issues for using their home address as their physical business address. If you run a home-based business or are considering starting one up, you're likely pondering this question yourself. You may even be contemplating not using a physical address at all, especially if you run a service-oriented business where clients contact you online or over the phone and never have to come to your place of business. Some home-based business owners use a PO box number as their home address for business. They use the PO box on their websites and business cards—a PO box allows you to give out a business mailing address without sacrificing either your privacy or safety. But there are also a number of reasons why you may want—or need—to have an actual physical address for your business.

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Patrick Kowalskl lawyer 2019-12-19 20:59:20
5 Ways to Avoid Probate

Without proper estate planning, probate can end up being one long, expensive stress for your heirs. So as you prepare end-of-life documents such as your will, advance directive, and living will, something else you should keep in mind is doing your best to avoid probate. Before we get into how to avoid probate, let’s talk about what probate is and why you would want to bypass dealing with probate law at all. What Does Probate Mean? Probate is the court-supervised process of settling a decedent’s estate and distributing his or her property to heirs. Simply having a last will does not avoid probate; in fact, a will must go through probate. To probate a will, the document is filed with the court and a personal representative is appointed to gather the decedent’s assets and take care of any outstanding debts or taxes. The personal representative can then distribute the decedent’s assets to the heirs. Why Avoid Probate? Because gathering assets and paying off debts can take time and be costly, it can end up delaying distributions of your property to your loved ones. In the worst case scenario, a drawn-out probate process can last several months or even years and seriously dip into the assets meant to go to your heirs. Moreover, if a probate attorney has to get involved, you are looking at even more expenses and delays. Accordingly, if you can avoid probate and have your assets pass directly to your heirs without the involvement of the probate court, you want to do so. How to Avoid Probate Now that you know what probate is and why you probably want to avoid it, let’s move on to the most common ways available of avoiding probate. 1. Joint Ownership of Property Jointly held property with the right of survivorship passes directly to the joint owner who is still living. Generally, there are three main ways to hold property jointly with another person: Joint tenancy with a right of survivorship. The owners are “joint tenants” of the property and the survivor takes full ownership upon the death of the other owner. Tenancy by the entirety. Similar to joint tenancy, only this type of ownership is available only to married couples (including same-sex couples in some jurisdictions). Community property. In states with community property laws, spouses hold property jointly with the right to survivorship. 2. Beneficiary Designations Life insurance and retirement accounts including 401(k)s, annuities, and IRAs all have designated beneficiaries within the documents; those funds pass directly to the beneficiaries without having to go through probate. 3. Pay-on-Death and Transfer-on-Death Accounts Some states allow you to designate a beneficiary for your bank account, which is called a “pay-on-death” or POD account. You may also be able to designate a beneficiary for your investment account through a “transfer-on-death” or TOD account. 4. Revocable Living Trust One of the most common ways to avoid probate is to create a living trust. Through a living trust, the person writing the trust (grantor) must "fund the trust" by putting the assets he or she chooses into it. The grantor retains control over the trust’s property until her death or incapacitation. At that point, the trust is turned over to the successor trustee, who had been chosen by the grantor and who will distribute trust property according to the grantor’s wishes. All of this happens outside the purview of the probate process. 5. Giving Away Property If you pass ownership of an asset to someone else within your lifetime, that property can’t and won’t be part of your estate when you die. Obviously, then, it also wouldn’t be part of the probate process as your chosen heir would already have ownership of the asset. Depending on the situation, however, you may have to pay a gift tax, that can be expensive. As you can see, avoiding probate doesn’t have to be complicated and in many instances involves simple transfers of assets so they are not within the reach of probate law. Taking a few steps now could mean saving your estate—and your loved ones—valuable time and expenses later.

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Terrance Gwiriri lawyer 2019-12-18 20:33:00

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