Below are the 3 most recent journal entries recorded in raymarsh11's InsaneJournal:

Tuesday, February 14th, 2012
12:40 am	Why You Should Hire a Personal Injury Attorney Many jurisdictions have their own set of laws that apply to exemptions as well as median income. For this reason this article should only be considered a rough guide, and by no means a definitive answer. If you need a certain answer you should contact a bankruptcy attorney who is knowledgeable and practices in your jurisdiction. ---------------------------------------------------------------------------------------------------------------------------- As a Bankruptcy Attorney I receive calls everyday from people that want to know if bankruptcy is right for them. This is a question that is much more complex than it may seem. Bankruptcy has many variables, as do the clients. Certain clients might benefit from filing for bankruptcy under Chapter 7 of title 11 of the Bankruptcy code, while others might find Chapter 13 to be more beneficial. Unfortunately I won't be able to provide you with all the answers in a simple article right now. But I will provide a little bit of direction that will help get you started. Before we get started you should understand the different Chapters of bankruptcy. For most individuals you will only need to know about two - Chapter 7 and Chapter 13. Chapter 7 is the liquidation of one's debts. In other words it will usually allow a debtor to wipe out his/her debts without having to make any additional payments. It does get more complicated than that, specifically when you have equity in some of your properties. We will go into that a bit more later. Chapter 13 bankruptcy requires a debtor to propose a payment plan to the United States Trustee. This payment plan will be used to pay a percentage of your debts, sometimes all of them, over the next 3-5 years. There are many other differences between the various chapters of bankruptcy but that should be good enough to keep us moving right along! After explaining the difference in the chapters to clients they usually want to do a Chapter 7 since it does not require a payment plan. The concern at that point is whether or not you actually qualify for a Chapter 7 bankruptcy. It's Saturday morning at the beginning of spring, so the water park is busy, but not the zoo it will be in a few hours. A ski boat is slowly towing a young girl and is going in the proper counter-clockwise rotation flow of traffic. As is usually the case in recreational boat accidents, a day of pleasure quickly turns to danger and danger in turn quickly turns to disaster. A small inflatable power boat pops up from behind an anchored luxury yacht. The inflatable boat is going the wrong way. That is, clockwise, against the flow of traffic. Further, the inflatable boat is going way too fast. The ski boat driver takes the proper evasive maneuver to starboard and turns the ski boat in order to pass the inflatable boat port to port. After passing the ski boat the inflatable boat driver takes a radical turn to port - - apparently in an effort to try and "catch air" over the ski boat's wake. The young girl's skis go under the inflatable boat, launching her and slamming her into the inflatable boat's engine, seriously injuring both of her legs and right arm. Bankruptcy Attorney, San Diego Bankruptcy Attorney (Comment on this)
12:33 am	Corporate Records - Shareholder Inspections They have tried to hire new lawyers and train them. What they found was that they then had a third job as trainer, in addition to marketer and worker. As a result, they have not developed other attorneys who might become the purchasers of their practice as an exit strategy. There is another problem with that scenario in that the income of the practice is dependent upon their being at their desks or in court every day. The only thing they really have to sell is the income stream from their billable hours. Unless another lawyer buys the practice to gain access to their clients and billings (and takes over their desks and court appearances), there really is nothing to sell except their jobs. Their law firm, structured as it is, is not a business, it is really just two jobs. The market for selling jobs is very limited and not very lucrative. They both know Diego who used to practice family law. He now works from his home, having closed his practice. Over lunch the other day, Diego told them that he had started a non-law business as his exit strategy part-time several years ago. He wanted an income stream that was not dependent on the number of hours that he worked and did not require him to fight with people every day. Curious about how that would work, they have scheduled another lunch with Diego to find out how an Hispanic attorney can start their own business and make more than they were making as a lawyer. You're conducting business as a corporation and various shareholders have kicked in investment money. Can shareholder inspections of corporate records occur? Emotional Attachment With small businesses, emotions can run high. Typically, a person has a great business idea, but need investors to create a pool of cash to get the business going. In such situations, the person has an emotional attachment to the business and thinks it is "theirs." After all, if it is my great idea, I should control it. This understandable attitude can lead to problems. When you form a corporation and take on investors, you must be ready to let your baby go. The corporate entity is now the owner of the idea, which means all shareholders have a say in how things are run. The fact that you were the one that came up with the idea is absolutely irrelevant. If this sounds unfair, you may want to consider other ways to raise money instead of selling shares in the entity. Corporate Records A corporate entity, including a limited liability company, is a separate "person" for legal purposes. This legal fiction creates a liability shield between the business and your personal assets. However, this also requires the corporation to keep records such as board resolutions, bylaws, articles of incorporation, balance sheets and so on. These corporate records should create a time line and snapshot of the corporate business for each fiscal year. Shareholder Inspections In every state, shareholders have a right to inspect the records of a corporation. The scope of the inspection depends upon the particular laws of each state, but typically covers all records in the corporate books, balance sheets and even tax returns. Bankruptcy Attorney, Bankruptcy Attorney (1 Comment |Comment on this)
Saturday, February 11th, 2012
6:11 am	Sharing Information With Your Estate Planning Attorney This means that it is important to have it written in such a way that it is valid in all 50 states. It should have the proper provisions, so that it is valid whether you need a medical treatment here at a clinic in Minnesota, or other states like California or Florida. It is also helpful to the estate planning attorney to have access to the Living Will provisions of all 50 states. This way, the client can get the best possible Living Will to meet the family's needs. When it comes to a Living Will, "one size" does not fit every circumstance. They are not created equal. They serve a vital part in a person's estate plan, and should be crafted carefully to protect you when you become disabled. It is important that these vital decisions are made when you are fully alert and aware of your choices. For some individuals, the subject of estate planning can be a touchy one. If you cringe at the mention of wills, trusts, and powers of attorney, you are not alone! However, these are important issues that should be addressed at some point in everyone's life. Certainly, the idea of lacking the mental or physical capacity to make decisions regarding your financial and medical affairs is an unpleasant one, regardless of your age or state of health. Fortunately, there are countless experienced estate planning attorneys who specialize in all aspects of elder law. By seeking the guidance of such professionals, you can ease the stress and confusion that comes along with making these preparations. What Is A Power Of Attorney? How Can Estate Planning Attorneys Assist? A power of attorney is a written authorization empowering a trusted person to make decisions regarding finances and health care on your behalf, should you lose the capacity to make such decisions on your own. While you may be reluctant to designate such, there are many crucial reasons to do so. A lawyer specializing in elder law can help you build a solid plan for the future of your financial and physical well-being, so you can relieve the anxiety of the unknown and protect yourself from family members who may be inclined to take advantage of your frailty. Most importantly, this is the best way to maintain control of your life, as the person you designate will be required to respect your wishes in every way possible. Protect Your Assets And Financial Matters A financial power of attorney authorizes someone else to handle your financial matters. This can include simple tasks, such as opening your mail and paying bills; or more complicated responsibilities like filing tax returns. Either way, consulting an estate planning attorney with experience in elder law is the first step to safeguarding your financial assets. The person you choose to handle your finances need not be a financial expert, but merely a competent individual that you trust to handle your sensitive matters with common sense. Ensure That Your Health Care Wishes Are Honored For many individuals, the most important aspect of estate planning is designating a medical power of attorney. It can be scary to think about losing the ability to speak for oneself when it comes to health-related issues, including critical life support situations. Bankruptcy Attorney, Bankruptcy Attorney (Comment on this)