An operating agreement is a contract that controls your LLC’s operations as well as member interaction with each other and with the LLC. You may think that an operating agreement is not necessary for your single-member LLC – after all – why make an agreement with yourself? Is the Operating Agreement a Legal Requirement? Most states don’t require an LLC …
The Biggest Threats to Successful Estate Planning
Poor estate planning is a recipe for disaster. Look no further than Dickens’ Bleak House—or a telenovela—to witness the tragedy and melodrama inadequate estate planning can cause. While having your estate planning documents prepared is the first hurdle to overcoming these types of disasters, there are several threats that lurk around the corner that might derail your wishes. Family Conflict …
Ask Cari: Is a Bonded Truck Needed for Delivery of Wine in New York?
When the entry port into the United States is not the intended, final location of the goods, merchandise must travel in a bonded status from the port of arrival to the intended port of entry. This process is referred to as “traveling under Immediate Transportation procedures,” and is accomplished by the execution of United States Customer and Border Patrol Form …
Follow This 8 Point Plan When Starting Your New Business
Starting a new business can seem overwhelming – especially when you’re doing it alone. Creating a business plan will allow you to refine incomplete ideas, address areas you may have not yet considered, create a map so you know what to do next, and increase credibility for bank loans or investor funding. While you may think you’ve got your business …
New York Family Law: What is the Cost of Living Adjustment?
Cost of Living Adjustment (“COLA”) refers to when child support is increased based on the annual cost of living. If the cost of living, pursuant to the Consumers Price Index for all urban consumers (CPI-U), as published annually by the United States Department of Labor Statistics, increases by at least 10% then an adjustment may be made. It is important …
Newly Appointed Mediator and Child Representative for the Fourth Circuit
I am very excited to announce that I have recently been appointed on the roster of mediators and child representatives/Guardian ad Litems for the Fourth Circuit in Illinois, which includes my hometown county of Shelbyville. I’m thrilled to be part of the team of professionals helping families navigate conflict. I’m pretty passionate that the courthouse is not the answer to …
Independent Contractor or Employee: It’s Very Easy to Cross the Line
Many businesses prefer to hire independent contractors because there’s often less overhead and fewer expenses (i.e. taxes). However, classify an employee as an independent contractor and you’re in big trouble. Here’s how to legally differentiate between the two. Who Controls the Worker? This question is not always easy to answer. According to the U.S. Internal Revenue Service (IRS), evidence of …
Our First Law Clerk: Behwal Rasul
Behwal A. Rasul is a young attorney licensed to practice law in Pakistan. He did his L.L.B from University of London. After practicing law for a few years, he decided to pursue his studies. In May 2018, he graduated with an LL.M. from the University of Illinois Urbana-Champaign. His major interests are corporate law, investment promotion, intellectual property, trade, constitutional …
3 Tips For Every New Homeowner
Congratulations on the purchase of your new home. Whether this is your first home or an upgrade/downsize, the purchasing of a home is a big event in your life. When these major life changes occur, it is important that you are properly prepared. Below are a few things for you to consider now that you finally have the keys to …
Ask Cari: Can a wine store owner give samples of wine for tasting at his own store?
In New York, if you have a wine store license, you can conduct wine tasting on wine, only, on the premises. Manufacturers, importers, and wholesalers can also conduct wine tastings, if they have a permit for conducting tastings. Cari is excited about her growing practice in wine and vineyard law. Share this Article
New York Divorce Law: When the Marital Residence May Not Be Marital Property
The law outlines what is marital property and what is separate property. However, the issue becomes murky when separate property was the marital residence, since often the marital residence is marital property. Real property purchased prior to the marriage does not become marital property merely because it is the marital residence (meaning that the couple lives there as husband and …
3 Things You Must Do Once Your Divorce Is Final
The divorce process can be long and expensive. However, the work does not end once the divorce decree is signed. In order to ensure that your assets and estate planning wishes are carried out in light of this major life change, there are three things you must do as soon as possible. Change Beneficiary Designation On Life Insurance A life …