Retirement Accounts and Divorce Who Gets Custody?

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As with most financial accounts, retirement accounts afford the participant (person contributing to the account/account holder) the opportunity to place beneficiaries on the account in the event the participant becomes deceased prior to extinguishing the funds in the account. A common question often in the mind of the participant is, “What will happen to my retirement account if I get divorced?” In Florida, the income of the husband and wife is considered to be marital property, as well as the benefits received therefrom. Funding a retirement account using funds from your income (paycheck or individual deposit) could designate all, or at least a portion of your retirement account as marital property. The problem with dividing up a retirement account as part of a divorce proceeding is that both the Employee Retirement Income Security Act (ERISA) and the IRS prohibit retirement plan participants from assigning their interests in their plan to anyone absent a Qualified Domestic Relations Order (QDRO).

QDRO is a court order that creates a right in the “alternate payee” (former spouse) to receive a portion of the benefits that would be payable to the participant (other former spouse) in accordance with that specific retirement plan’s rules. In reality the way this works is either by agreement between the parties or by order of the court, the alternate payee will be designated a portion of the other spouse’s retirement plan expressed either as a specific dollar amount or as a percentage of the marital portion of the account balance as of a valuation date. If the participant began contributing to the plan after the parties were married, the valuation date is usually the date of the filing of the petition for dissolution of marriage or any other date as agreed to by the parties or ordered by the court. If the participant was contributing to the plan before the parties were married then the valuation of the account is usually determined as the value of the plan on the valuation date minus the value of the plan on the date of marriage. After the dollar amount or percentage is determined and final judgment has been entered by the court a proposed QDRO will need to be drafted. The first step in drafting a QDRO is for the attorney or draftsperson to contact the Plan Administrator (PA) for a sample QDRO specific to your plan. Depending on the response time from the PA your order could be draft in a little as a day or two or in as much as two to three weeks. After the proposed QDRO has been drafted the attorney will then send the proposed QDRO to the PA for review. This process usually takes about 30 days. Upon receipt from the PA that the proposed QDRO complies with the plan rules it is sent to a Judge for signature to become a valid and binding court order. The attorney will send the signed QDRO back to the PA who will then begin administering the plan according to the order.

QDRO’s are very specific in nature to each retirement plan and may vary greatly depending on the outcome of each individual divorce. If you think you may be involved in a divorce and would like some more in depth information about how your retirement account could be affected please contact one of our outstanding attorneys here at The Orlando Law Group PL at 407-512-4394. Offices Waterford Lakes, Lake Nona and Dr. Phillips.

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Online Businesses offer an outstanding opportunity in today’s market for entrepreneurs and leisure hobbyist and enthusiasts that want to take it one step further.  If you are considering a new online business, there may be federal, state, and local laws that must be met and standards and procedures to follow in order to comply. There is also a structure to follow if you need financial backing.  Here are some great tips to consider:
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Thinking of Starting an Online Business?

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Your Business Plan:  What is a Business Plan and Why Is It Important?

A business plan has two main purposes—to outline your business goals and to define the strategy for achieving them. Business plans are traditionally used when companies seek investors or commercial lenders. The business planning process will help your online business define a strategic blueprint for the operation and success of your company.  A solid business plan will create your own unique identity and it will give you the confidence and documentation needed to get out there and pitch your idea, product or services to anyone.  Basically if you have an idea for a product or service and hope to get potential investors, lenders, donors or business partners on board, a business plan is a requirement.

Declare the Controlling State Law

If you don’t declare the controlling state law, then anyone who sues you can determine the state law that applies.  It is important to include somewhere in your online contracts or your website the controlling state of your business.  If a plaintiff can show good reason for suing you from a particular state undeclared, that state’s laws will apply. This means that you could be ordered to court on the other side of the country. Chances are it could also mean that you will be more likely to lose based on the standards of the other state’s court.  You may need legal help to create Online Terms and Conditions to declare the governing state.

Best Practices Suggest You Set Up a Separate Business Checking Account

In most states, including Florida, all business transactions are required to be made through a separate business account.  This is extremely advisable and a benefit to your company if you want to receive the greatest number of business deduction possibilities, as well as maintain corporate protection. Remember, always keep your business finances and your personal finances separate. You don’t want to face expensive fees and penalties.

Privacy Policy and the Legal Disclaimers You May Need on Your Website

Many online businesses collect information in some way.  If your intent is to grow your business by collecting information from your site’s visitors, you will need to protect yourself legally by establishing a Privacy Policy. This special policy sets forth what you will or will not do with information that you collect.  Once you publish your exclusive Privacy Policy online, the requirement you will need to maintain is to “follow it”.  Also and just as important, if you change your privacy policy you will need to notify the users.  This protects you and will allow the users to accept the changes. Seeking legal advice is highly recommended in drafting your special Privacy Terms.  There are Rules and regulations for conducting e-commerce that apply mainly to online retailers and other businesses who perform consumer transactions by collecting customer data. Important to remember, even if you do not sell anything online, laws covering digital rights and online advertising may still apply to you. The Federal Trade Commission (FTC) is the federal agency regulating e-commerce activities, including use of commercial emails, online advertising and consumer privacy.

Other Protections You May Need

There are many other topics you may need to explore in securing a safe Online Business Experience. At The Orlando Law Group, our diverse team of attorneys have a wide breadth of experience with roots that run deep in the community where we live, work and play.  Our approach to serving clients is twofold.  We believe in preventative action and proactive engagement to provide exceptional legal representation.

  • Identity Theft – And as Business Owner Your Responsibilities
  • Privacy Rules for Financial Companies
  • Children’s Online Privacy
  • Computer and Information Security
  • Selling Internationally/Exporting
  • Using Consumer Credit Reports
  • Digital Rights and Copyright Laws
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ATTENTION EMPLOYERS: IS YOUR SOCIAL MEDIA SENDING THE WRONG MESSAGE AS TO YOUR WORKERS COMPENSATION COVERAGE?

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If an investigator finds that an employer is performing work that is outside the classification codes for which their policy covers, they can report it to the State. The Department of Financial Services has the power at that moment to issue a stop work order. In order to release the stop work order, the employer will have to pay at least $1000.00. At that point, the Department of Financial Services will require the employer to submit payroll records and they generally require records for the preceding two year period.

The Department of Financial Services calculates the premium that should have been paid based upon what they believe were the classifications that were not covered on the policy. The penalty can be two times the premium that should have been paid within the preceding two year period or $1000 whichever is greater.  Once the Department assesses their penalty, you have only 21 days within which to appeal it.

So, the Department could investigate an employer by looking at their website. If the website lists services that are not being covered under the policy, then they can send an investigator to confirm the employer’s activities.  Your website and Facebook page could also show pictures of events or activities performed by employees and may provide evidence of misrepresenting employee duties.  Often times, employers hire marketing companies to manage their website and Facebook page. These companies may use stock photos or captions that could incorrectly indicate the employer is engaged in services or activities that they are not.

If your business is issued a stop order, it is best to contact an attorney immediately. An attorney is able to gather all the required payroll records and make sure only those that truly represent payroll are submitted to the Department. The time deadlines are strict and failure to meet them can cause the business to pay penalties in excess of what they actually owe.  In addition, an attorney has the knowledge of the classifications codes and whether the codes being applied by the Department are accurate. 

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Is It Possible to Collect Workers’ Comp and Unemployment Benefits at the Same Time?

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Unfortunately, most workers are not eligible to receive unemployment benefits while they are getting temporary disability benefits under workers’ compensation. Florida workers’ compensation law doesn’t allow injured workers to collect unemployment compensation while simultaneously collecting temporary disability or permanent total disability benefits.

The exception occurs when workers who have been injured and then released by their doctors to perform light duty work. These types of workers may also receive unemployment in addition to workers’ comp benefits. Although in this situation both types of compensation can be collected, the disability benefits will be subtracted from the amount due under workers’ compensation. As a result, it’s not much of a “win” because one’s benefits will be reduced for any period of time that unemployment is also being collected.

If a work injury has left an employee with a permanent injury or disability, that worker will need to file for Social Security Disability since he or she will not be able to work again. Workers who need time off work to rest and recoup from an injury may be able to collect unemployment and Temporary Partial Disability benefits.

In order to understand these benefits, it is important to define what these different types of benefits really are.. Workers’ Comp benefits are available to injured workers when their employer carries workers’ compensation coverage. Unemployment benefits provide workers with some money once they lose their job. Additionally, unemployment benefits can be collected if an injured worker tries to return to his job but his employer no longer has work available. In order to receive unemployment benefits in this situation, the worker needs to be physically able and available to work.

Because trying to collect both types of benefits can be complex and each of them has their own rules and guidelines, you might want to speak with an attorney to help you navigate the complexities of benefits’ laws.

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Is It Possible to Collect Workers’ Comp and Unemployment?

Unfortunately, most workers are not eligible to receive unemployment benefits while they are getting temporary disability benefits under workers’ compensation. Florida workers’ compensation law doesn’t allow injured workers to collect unemployment compensation while simultaneously collecting temporary disability or permanent total disability benefits.

The exception occurs when workers who have been injured and then released by their doctors to perform light duty work. These types of workers may also receive unemployment in addition to workers’ comp benefits. Although in this situation both types of compensation can be collected, the disability benefits will be subtracted from the amount due under workers’ compensation. As a result, it’s not much of a “win” because one’s benefits will be reduced for any period of time that unemployment is also being collected.

If a work injury has left an employee with a permanent injury or disability, that worker will need to file for Social Security Disability since he or she will not be able to work again. Workers who need time off work to rest and recoup from an injury may be able to collect unemployment and Temporary Partial Disability benefits.

In order to understand these benefits, it is important to define what these different types of benefits really are.. Workers’ Comp benefits are available to injured workers when their employer carries workers’ compensation coverage. Unemployment benefits provide workers with some money once they lose their job. Additionally, unemployment benefits can be collected if an injured worker tries to return to his job but his employer no longer has work available. In order to receive unemployment benefits in this situation, the worker needs to be physically able and available to work.

Because trying to collect both types of benefits can be complex and each of them has their own rules and guidelines, you might want to speak with an attorney to help you navigate the complexities of benefits’ laws.

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In April 28, 2016, the Florida Supreme Court rendered its decision in Castellanos v. Next Door Company. Shortly thereafter the Florida Supreme Court rendered its decision in Westphal v. City of St. Petersburg on June 9, 2016. The Castellanos case had been tried on July 3, 2012 and then oral argument took place on November 5, 2014. Westphal was tried on June 22, 2012 with oral argument occurring on June 5, 2014. 

The Florida Supreme Court makes long awaited impactful decisions in Workers Compensation

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So, these cases sat pending for 540 days and 735 days respectively since oral argument.  These two decisions have now turned back the clock on major provisions of the workers compensation law. In Castellanos, the Supreme Court declared the attorney provision of the statute unconstitutional. The statute had been changed in in 2003 such that an attorney representing an injured employee was strictly restrained to a formula fee based upon the value of the benefits secured. Prior to 2003, the statute allowed for a reasonable fee which would further allow for an attorney to receive their fee based upon the reasonable hours to secure the benefits. In coming to this ruling, the Court explained that the attorney’s fees in Florida Workers’ Compensation serve a dual purpose. First, the fees enable the injured worker who has not received benefits to obtain competent legal assistance. Secondly, the fees serve as a penalty to employers that are wrongfully denying benefits. As a result of the Castellanos decision, the attorney for the injured worker has the ability to show that a statutory or formula fee will result in an unreasonable fee and thereby assert a fee based upon the hourly basis.

The Court in Westphal declared the provision of the statute, 440.15 (2), as unconstitutional. This section limited the injured worker to 104 weeks of temporary total disability. The Court stated that this limitation deprived the injured worker of disability benefits under these circumstances for an indefinite amount of time which created a system of redress that no longer functioned as a reasonable alternative to tort litigation. Workers Compensation Insurance provides the Employer with immunity against a civil action. As such, the injured worker gives up the right to sue them in tort for exchange of workers compensation benefits. The Court found that the limitation to 104 weeks was no longer a reasonable exchange for giving up the rights.

To provide some history, Westphal involved a firefighter who had exhausted his 104 weeks of temporary benefits and sought Permanent Total Disability benefits. However, he still required additional surgeries and did not meet the pre-requisite for Permanent Disability Benefits because he had not reached Maximum Medical Improvement.  Thus, he fell into a gap period between exhausting the temporary benefits and being able to pursue permanent benefits.  The Supreme Court found this gap period violated access to courts and cut off their benefits at a critical time with no redress. In declaring it unconstitutional, the Court revived the 260 week limit on temporary total benefits that existed in the pre-1994 version of the statute.  

WHAT EFFECT WILL THESE DECISIONS HAVE ON EMPLOYERS

As a result of the Castellanos decision, we have seen an immediate spike in attorney representation for injured worker’s claims and the filing of claims. Moreover, there were awards of attorney’s fee to claimant’s attorneys going back several years which had just been sitting out there. There was no way to push the fee issue and the claimant’s attorneys were waiting until this decision in order to pursue an hourly based fee. We are seeing the filing of Verified Petitions for Fees to resolve those old fee awards on an hourly basis. While the starting point still remains the formula fee, there is no doubt that we will see more litigation as claimant’s attorneys will have an incentive to take more depositions and engage in more litigation in order to provide evidence that the statutory fee would produce an unreasonable result. We will see their willingness to litigate smaller issues as there is an incentive to do so.  

With Westphal, there is still some ambiguity as to the extent the limitation of 104 weeks applies. The Court’s decision rendered the statute unconstitutional only “as applied to Westphal and others similarly situated”.  Thus, the ability to secure the additional weeks may be dependent upon how similar the injured worker is to Wesphal.  In the pre-1994 statute, it provided 260 weeks for temporary total benefits and a separate 260 weeks for temporary partial benefits. As such, this decision could mean the injured worker is entitled to up to 260 weeks of temporary total and that includes the 104 weeks of temporary partial. Alternatively, the decision could mean the injured worker is entitled to up to 520 weeks of combined temporary total and temporary partial. Nonetheless, we can expect that there will be a push for injured workers to remain on a no work status for as long as a period of time as possible.

Because of Castellanos and Westphal, the exposure for claims has increased which means an increase in attorney representation and filing of claims. NCCI originally filed for a rate increase of 17.1% for workers compensation policies. However, they just filed on July 1, 2016 an amended rate and proposed 19.6% with an effective date of October 1, 2016. So it will now cost the employer more for policies and they will be faced with increased claim exposure.

WHAT CAN BE DONE TO MINIMIZE THE IMPACT

It is critical for Employers and their Insurance Carriers to thoroughly and accurately evaluate their claims at every stage in order to provide the appropriate benefits and negate those areas for potential fee entitlement.  The medical experts selected to provide treatment will be critical to reigning in the claimant’s desire to remain out of work as long as possible. It will be necessary to make sure that the medical provider is applying objective criteria in determining work status and the placing of the worker at MMI. A knowledgeable attorney will be able to address issues and design an appropriate strategy to help Employers and their Insurance carriers through the process.

By Attorney Heather McLeod

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What is Workers’ Compensation?

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If you are hurt on the job, it’s important that you know what options are available to you to alleviate the anxiety of unpaid medical bills. While Workers’ Compensation won’t solve all of your problems, it should at least help with the financial burden the injury has created.

Workers’ Compensation in a Nutshell

Often called “Workers’ Comp,” Workers’ compensation insurance is a type of insurance purchased by employers for the coverage of employment-related injuries and illnesses. It is a state-mandated program consisting of payments that are made to an employee who is injured or disabled in connection with work. It is required and varies slightly by state, as every individual state has its own workers’ compensation insurance program. In Florida, the Division of Workers’ Compensation site attempts to ensure that anyone interested or involved in the Florida workers’ compensation system has the tools and resources they need to participate. The site assists injured workers, employers, health care providers, and insurers in following the Florida Workers’ Compensation Rules and Laws.

In most situations, injured employees receive workers’ compensation insurance, no matter who was at fault for the injury. Because these workers’ comp benefits act as a type of insurance, they keep the employee from suing his or her employer for the injuries covered. It is designed to cover injuries that result from employees or employers carelessness.

Situations That Are Covered

It should be noted that workers’ compensation benefits DO NOT cover pain and suffering. Rather they cover tangible expenses including: medical care from the injury or illness, replacement income, costs for retraining, compensation for any permanent injuries, and benefits to survivors of workers who are killed on the job.

The range of injuries and situations covered is broad, but there are limits. Not ALL problems that occur in the workplace are covered. Coverage may be denied in situations involving: injuries caused by intoxication or drugs, self-inflicted injuries, injuries from a fight started by the employee, injuries resulting from horseplay or violation of company policy, felony-related injuries, injuries an employee suffers off the job, or injuries claimed after an employee is terminated or laid off.

Who Receives Worker’s Comp

Most types of employees are covered by workers’ compensation insurance. However, there are some exceptions. States commonly exclude some workers from coverage, such as: independent contractors, business owners, volunteers, employees of private homes, farmers and farmhands, maritime employees, railroad employees, and casual workers.

Dollars and Cents

As a general rule, an employee who is temporarily unable to work will usually receive temporary disability payments of two-thirds of the employee’s average wage, up to a fixed amount set by law. An employee who becomes permanently unable to do the work he or she was doing prior to the injury, or unable to work at all, may be eligible for long-term or lump-sum benefits for permanent disability. The workers’ compensation system also pays death benefits to surviving dependents of workers who pass away from work-related injuries. The eligibility for wage replacement begins immediately after a few days of work are missed because of a particular injury or illness.

If it is the best fit for your situation, Workers’ Comp can be a huge help during a very difficult circumstance.  You might need help navigating the legal end of it if you don’t understand the insurance company’s approval of the workers’ compensation claim or if you disagree with the doctor’s perception of your injury – for example, if you feel more ill or injured than the doctor thinks you are.

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Kimberly E. Hosley from The Orlando Law Group, PL recognized by Super Lawyers

Florida Rising Stars are lawyers who demonstrate exemplary performance as Florida attorneys, and no more than 2.5 percent of lawyers in the state of Florida are named to the Rising Stars list each year. To be eligible for inclusion in Rising Stars, a candidate must be either 40 years old or younger or in practice for 10 years or less.

“It is an honor to be included in the Super Lawyers Rising Star list for the second year in a row,” said Kimberly E. Hosley from her office in Orlando, FL. “At The Orlando Law Group, we work hard every day to help our clients any way we can. Being recognized for that hard work and client service is gratifying.”

For the full list of 2016 Super Lawyers for the state of Florida, please visit their official website.

About The Orlando Law Group:
The Orlando Law Group (OLG) was founded by Attorney Jennifer Englert in 2009. Its diverse team of attorneys have a wide breadth of experience which allows them to protect their client’s rights through the evolution of their business, as well as personally while they progress through all stages of life. Over the years, they have created a stellar reputation in the community as professional legal experts who believe foremost that planning ahead is the best option for their clients, as their aim is to minimize the number of potential disputes and costs of litigation. The Orlando Law Group is more than a legal team, they’re your life-long partner who will work with you to build a relationship while creating solutions that work.

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When should an estate plan be reviewed?

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An estate plan is an important asset that should be updated as time goes on. Ideally, your estate plan should be reviewed annually or even quarterly, although it’s acceptable to update it at least every three to five years or when there is a life event, according to Fidelity.

What qualifies as a “life event?” Things like:

  • Marriage or divorce
  • The birth of a child or grandchild
  • A purchase of a home
  • Moving out-of-state
  • A death in the family
  • Career changes
  • When you receive an inheritance or significant asset
  • And more

There are all examples of life events that should make you pause and review your current estate plan.

Any large life changes will have a direct impact on your estate plan, and sometimes for reasons you may not even be aware of. When you have an important life event, it is best to consult with your estate planning attorney for the best plan of action.

Remember, life is dynamic. Things are constantly changing. If you haven’t reviewed your estate plan in a while, it might be time to seek counsel from your attorney to make it is up to date.

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How to Properly Beat Gift Taxation & the $5.45 Million Tax Break

We currently have in effect something called a “Unified” estate and gift taxation system. What this means for the average American is that the lifetime limits for gifting of personal property is tied in directly with your estate exemption limits. In plain English: You can leave behind personal property when you pass, and it won’t be taxed if it’s under a certain amount…but the IRS will subtract the value of gifting that you’ve done DURING your life from that exemption number. But don’t worry, there are ways around this if you know the rules and effectively plan out your gifting to heirs during your lifetime.

Let’s talk about the numbers.

Back in 1997, an individual could leave behind $600,000 in personal property to their loved ones without any tax concerns whatsoever. Now fast forward to 2016 and that number is now $5.45 million dollars! If you’re married, that means you and your spouse have a lifetime estate and gifting limit of 10.9 million dollars. That’s a lot of money. However, you have to remember that since gifting and estate are “unified”, those numbers are all-inclusive of lifetime gifts and your estate when you pass. Are there ways to work around this? The answer is yes!

Gifting and You: How to Make the IRS Happy

Want to leave behind the maximum to heirs and loved ones? Then start a gifting program during life. There is currently a $14,000 annual gift exclusion per person, but here’s the catch:you can give up to $14,000 per year to an unlimited number of recipients, and if you’re married, you and your spouse can make a joint gift of $28,000 to an unlimited number of recipients. I’m not a CPA or attorney, but I’d HIGHLY recommend that you document such gifts and include the documentation in your taxes when you file for the year.
Let’s do a couple of examples:

Example #1: Mr. & Mrs. Thomas own a mid-sized manufacturing company. They both turn 60 and decide they are ready to retire.They sell their company, taking home $15 million dollars after taxes. They decide to live off of the interest for the rest of their lives, so their estate does not grow. Assuming they did no gifting during life, the first $10.9 million would be exempt from estate tax, and the remaining $4.1 million would be taxable under current tax law. At a 40% bracket, that means they are looking at estate taxes of $1,640,000 owed to the IRS!

Example #2: As above, Mr. & Mrs. Thomas sell their company, but instead of distributing dollars upon death, they decide to take advantage of the annual gift exclusion for their two adult children Heath and Jennifer. They make annual gifts of $28,000 to each child for the next 25 years, transferring a total of $1.4 million during their lifetime. Upon their passing, the first $10.9 million would still be excluded from estate taxation because the couple did not exceed the annual gifting limits of $28,000 jointly per recipient. In this example, only $2.7 million would be subject to estate tax. At a 40% bracket, the means they are looking at estate taxes of $1,080,000 owed.

In the above examples, a lifetime gifting program saved the Thomas family almost $500,000 in extra estate taxes, just because they took advantage of their annual gifting allowances! I say this a lot, but when it comes to money and taxes, you have to know the rules before you play or you’re going to pay for it big time. Consult your attorney and tax professional, as each case is unique.

Key Take Away: The best time to start leaving behind property for heirs is during life. All of the estate planning in the world will not excuse you from all estate taxation.

Written by: Kyle A. Davis, ChFC®

Kyle A. Davis is a Chartered Financial Consultant® and president of Integrity American Group, LLC. He is a Florida native and an advocate for financial literacy and practical money education. When not assisting clients with their retirement planning, he creates educational videos on financial wellness and offers free resources on his personal finance YouTube channel HERE

 

 

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Guardian Advocacy: What Can It Do For You?

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Developmental disabilities include cerebral palsy, autism, spina bifida, Prader-Willi Syndrome, or other conditions that that manifest before the age of 18 and that constitute a substantial handicap that can reasonably be expected to continue indefinitely. The focus is on the decision-making ability of the person needing the Guardian.

How do YOU become a Guardian Advocate? First, you must be over the age of 18 and be a resident of the state of Florida. You must also submit to a level 2 background check under and provide a live fingerprint scan, and lastly, you MUST have an attorney if you are seeking to be the guardian of the property other than Social Security or other governmental benefits.

If you meet all the qualifications to become a Guardian Advocate, you can begin the process of becoming appointed as one. This process begins with a Petition that is filed with the Court along with the Oath of Guardian Advocate and a Designation and Acceptance of Resident Agent.

The next step will be to schedule a hearing with the Court. Upon successful completion of the documentation process, you should receive a letter or call from the Clerk of Court providing you with your case number, the name of your Judge, and the name of the attorney appointed to represent the person with the disability. (Tip: You will have to coordinate this hearing with the attorney appointed to represent the disabled person.) Prior to the hearing, you should draft a proposed order and Letters of Guardian Advocacy and bring them with you to the hearing.

After the hearing, but within 60 days of being appointed as the Guardian Advocate, you will need to submit what is called the Initial Plan. The Initial Plan provides information to the Court as to how you plan to care for the Ward. Additionally, within 90 days of the date of the anniversary of your appointment as a Guardian Advocate, each year you are required to file an Annual Plan.

If you are interested in becoming a Guardian Advocate or know someone who may need one, please contact our office at (407)-512-4394 and ask to speak to one of our knowledgeable and experienced Guardianship attorneys, Pamela Martini or Maytel Bonham. CLICK HERE to download our Guardian Advocacy Bootcamp Presentation.

Written by: Attorney’s Pamela G. Martini and MaytelMaytel Sorondo Bonham

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When is the Right Time to Begin Estate Planning?

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What exactly is estate planning? It is twofold: (1) it is deciding what will happen to your possessions and assets and making sure that your family and friends are taken care of after you have passed away, and (2) it is ensuring that your health care and end of life care wishes are carried out if you fall ill or become incapacitated.

While most people do not want to think about death and what happens when they die, it is still important to begin planning for a time when you will no longer be around while you are still in good health both mentally and physically. After you pass away, even if you have verbally communicated to your family how you would like your estate to be administered; without a written, official estate plan in place including documents such as a Last Will and Testament and a Living Will, there are no guarantees that your estate will be dealt with in the way that you had hoped for. Establishing a solid estate plan is the only way to ensure that your estate and health care is administered according to your wishes.

First, developing a plan for how you will divide up your assets before you pass away allows you to decide what happens to your assets, instead of allowing a relative or friend (who may have their own motives or personal goals as to what will happen to your possessions) or the courts to decide how your estate is administered. When a person dies without any type of will or trust set up, all of their financial assets and property are subject to the laws of the state. This is referred to as dying “intestate,” or intestate succession. Simply put, you will have no control over who inherits what you once owned. Everything will be left up to pre-determined laws that have been set up by the state you live in.

Furthermore, when you pass away, your friends and family will already have enough of a tough time coping with the emotional burden that comes with a difficult loss. Making it easy for them to handle your estate by providing them with written documents setting out your goals and wishes for your possessions is a great gift to give your friends and family. Having everything pre-planned will give your loved ones time to grieve and reduce the stress of fairly dividing your assets according to your wishes.

Lastly, if your estate is subject to taxes, a proper estate plan can help reduce or even eliminate these taxes, allowing your family to retain most of your assets instead of handing them over to the state.

As to the right time to establish an estate plan; many would say that the right time to begin thinking about estate planning is when you become a legal adult; others could say that it is when you become a parent or guardian of a child; while some might say it is when you retire or reach a certain age. However, speaking frankly, there is no “right” time to begin thinking about estate planning, because each person and each family is different. Quite frankly, any time is a good time to begin estate planning once you become an adult, because life, as we know, is unpredictable. Any time is a good time to consider the wellbeing of your family, friends and possessions after you pass away. The important thing is that you do not wait too long to set up an estate plan. After you pass away or become incapacitated, it is too late to create a solid estate plan, and your friends and family may be left both emotionally upset by your loss and stressed, with many questions as to your wishes for your estate or health care.

When it comes to establishing an estate plan, it is most important to think about your specific goals for your estate and how you want your legacy to protected. Do you want to make sure your children have a guardian in place should you pass away or become incapacitated? Do you have multiple assets and want to ensure that your chosen beneficiaries receive your assets as directed? Do you have specific wishes for your end-of-life care should you be incapacitated? These are just some of the considerations you should make when thinking about establishing an estate plan.

If you decide to move forward with an estate plan, you will need to include a few important documents to make sure that all your bases are covered. A typical estate plan will include:

  • a Last Will and Testament that is the primary document regulating your wishes as regards inheritance and guardianship;
  • a Trust that relates to protecting assets for the benefit of yourself and/or specific persons;
  • a Living Will (also called a healthcare directive and proxy or designation of healthcare surrogate) that specifies your intent as regards decisions on your physical well-being and end-of-life arrangements respectively;
  • a Power of Attorney that enables a trusted Agent to make financial decisions for you in the event that you are incapacitated; and
  • for parents with minor children, a temporary guardianship document that names a trusted adult to care for minor children in the event of your incapacity.

Keep in mind that the specific documents you need will vary depending on your situation and your goals for your estate. A lawyer can help you clarify how to move forward with your estate plan and deal with any special circumstances you would like to consider. The attorneys at The Orlando Law Group represent and prepare estate planning documents for individuals throughout Orlando, Waterford Lakes, Altamonte Springs, Winter Garden, Lake Nona, St. Cloud, Kissimmee, and throughout central Florida.

If you are dealing with an estate planning issue or are looking to establish your own estate plan, please reach out to our office at 407-512-4394, fill out our online contact form.

If you have questions about anything discussed in this article or other legal matters, give our office a call at 407-512-4394 or fill out our online contact form to schedule a consultation. We have an office conveniently located at 12301 Lake Underhill Rd, Suite 213, Orlando, FL 32828, as well as offices in Seminole, Osceola and West Orange counties to assist you.

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Deciphering the Jargon: What is a Living Will?

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Last Will and Testament, Living Will, Living Trust, Testamentary Trust, Power of Attorney, HIPAA Release, Quit Claim Deed, Enhanced Life Estate Deed…these are all terms we hear thrown around when thinking about establishing an estate plan. We know that as responsible adults we should plan for our future by creating a Last Will and Testament, but creating a comprehensive estate plan which accounts for the distribution of your assets, the security of your friends and family and what health care decisions should be made on your behalf involves much more than just a will.

The truth is, establishing an estate plan is rarely urgent (until it becomes urgent) and they are only needed when something awful happens. The result is that we often avoid tackling the whole mess.

However, developing a comprehensive plan for your estate can be quite simple and straightforward if you understand the basics and if you have the assistance of an experienced estate planning attorney on your side. When you are planning for what happens to your estate, it’s important to understand the difference between the different legal documents that are available to you, so you can ensure everything goes according to your plan. One of these such documents is known as a Living Will. While most people know what a Last Will and Testament is, or at least have an idea of what a Will does, many people do not know about Living Wills and how a Living Will can ensure that your wishes regarding your health care and end of life care are followed.

What is the difference between a Last Will and Testament and a Living Will, and why do you need a Living Will along with a Will?

A Living Will is a binding document to specify your medical wishes if you can’t communicate because of illness or injury. With a Living Will, a person expresses what he or she would like done regarding end-of-life care. In a situation where the attending physician and another consulting physician have determined that there is no probability of recovery from a medical condition, the Living Will can direct that life prolonging treatment be withheld. The person can indicate which of the three situations where they wish for life-prolonging treatment to be withheld: persistent vegetative state, terminal condition or end-stage condition. It addresses such questions as to whether you want life extending treatment while terminally ill or in a permanent coma.

A Last Will is the fundamental piece of any estate plan. A Will functions to provide your instructions for distributing the assets you own individually or share ownership as tenants in common when you pass away. It is only in a Will that you can name legal guardians for your children, as well as someone to manage any properties left to or earned by minors. A Will also gives you the right to name an executor who will be in charge of wrapping up your estate after your death.

A Last Will does not give directives about your health care or life support. That is where a Living Will comes into play. A Living Will, also known as an advance directive or a health care directive, spells out your decisions about life support and organ donation in advance. It also names someone to manage your healthcare, commonly referred to as your Health Care Surrogate or Proxy. To avoid any conflict of interest, your Health Care Surrogate can be a different person than the person named as Agent in your Power of Attorney, who is designated to handle your financial and legal affairs.

Why have a Living Will? There are two major reasons why someone may want or need to create a Living Will.

  • A Living Will spares your family the anguish of making life-support decisions without your input. It also helps to avoid major arguments between family members at a vulnerable time. With a valid Living Will, your wishes are clearly expressed so that your loved ones do not have make an incredibly difficult decision in a time of tragedy.
  • A Living Will also gives you control of your healthcare by ensuring that your doctor understands your end-of-life wishes and treats you accordingly. If you have specific wishes regarding your health care, certain religious beliefs, or are concerned that your family or spouse may not honor your wishes, a Living Will gives you the peace of mind that your wishes for your care will be followed.

To proceed with a Living Will, we recommend that you meet with an estate planning attorney who can walk you through the important legal questions at hand. Your attorney can prepare the proper documentation for your state and help you think through potential scenarios that you might want to discuss with your physician and loved ones. There are numerous medical scenarios and procedures you or your loved ones could face. By having a Living Will drafted by an experienced attorney, you can be clear about the specific medical treatments you do or do not wish to receive.

Many people think a living will is not something they need unless they reach senior citizen age. However, this could not be further from the truth. Life is unpredictable and often uncontrollable, giving every enough reason for adults of any age to invest in a Living Will in order to protect themselves when bad fortune arises.

The attorneys at The Orlando Law Group represent and prepare estate planning documents for individuals throughout Orlando, Waterford Lakes, Altamonte Springs, Winter Garden, Lake Nona, St. Cloud, Kissimmee, and throughout central Florida.

If you are dealing with an estate planning issue or are looking to establish your own estate plan, please reach out to our office at 407-512-4394, fill out our online contact form.

If you have questions about anything discussed in this article or other legal matters, give our office a call at 407-512-4394 or fill out our online contact form to schedule a consultation. We have an office conveniently located at 12301 Lake Underhill Rd, Suite 213, Orlando, FL 32828, as well as offices in Seminole, Osceola and West Orange counties to assist you.

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Auto & Work Accident Whiplash Relief

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If you have been in an auto accident recently, there are some important decisions you have to make. It’s crucial to make these decisions instantly and not delay. Individuals injured in car accidents will have only 14 days to seek initial treatment.

Summit Chiropractic exists to serve the health care needs of our patients with the highest level of care and concern. Using the leading edge of technology, we are focused on bringing you the most advanced “non-surgical” treatment for neck and back problems available.

How Chiropractic Relieves whiplash symptoms:

Chiropractic adjustments are a very effective form of treatment to relieve whiplash. A chiropractic adjustment is a gentle form of a motion to individual segments of the spine which effect the tissue in three ways.

  • Relieves nerve pressure affecting neck and shoulders.
  • Relieve muscle reflex pain and spasms.
  • Reduces disc pressure which is also a contributing factor in neck and shoulders pain.

What you can expect with chiropractic adjustments is decreased pain, decreased muscle spasms and increased mobility

Therapy to Relieve Whiplash Symptoms

Myofascial release is utilized to decrease the muscle spasms and pressure on the cervical nerves. Deep massage therapy is an alternate form of muscle work to effect the muscles related to the pain of whiplash injuries.

In addition, our treatment may also include therapy which delivers a form of cryotherapy into the muscle tissue. The physiologic effects of cryotherapy include immediate vasoconstriction with reflexive vasodilation, decreased local metabolism and enzymatic activity, and decreased oxygen demand. Cryotherapy decreases muscle activity and decreases spasticity and muscle guarding. It is commonly used to alleviate the pain, decrease muscle soreness, and aids in the relief of whiplash injuries.

Intersegmental traction is another means of inducing passive motion into your spine for the purpose of increasing mobility and stretching spinal joints. The discs of your spine have a poor blood supply. Misalignment of the spine prevents this exchange from occurring. Intersegmental traction helps restore proper motion. Patients lie supine on a table which has vibrating roller-type cams beneath its surface. These massaging rollers travel slowly up and down the spine. Most patients find this form of traction to be very relaxing and therapeutic.

Signs of Whiplash

Whether from an auto accident, sports injury or a slip and fall where there are a rapid flexion and extension of the head.

Several muscles around the neck and shoulders, ligaments and spinal discs get injured during the rapid motion.

  • Spinal Cord Injury
  • Jaw Pain
  • Cervical Vertigo with dizziness or nausea
  • Arm and Leg numbness and tingling
  • Neck and Low Back Pain
  • Thoracic Outlet Syndromes
  • Shoulder and Arm Pain

Our entire staff is dedicated to helping you along your journey of discovering the path to the summit of your health and wellness through natural, non-surgical, drugless alternatives. If you are experiencing difficulty with your back or neck, please call us at (407) 203-6745 to schedule a no cost consultation with Dr. Jamee Fike and Dr. Warner and find out if this treatment option can help you live a normal life free from pain.

Whiplash Relief in Orlando FL Call: (407) 203-6745

Affordable neck and back pain relief available without the side effects of medicine.

Dr. Jamee Fike and Dr. Warner is expert at car accident injuries helping people with chronic back problems, neck aches, spine injuries, etc. so you can live life to the fullest, pain-free!

Auto accident injury and whiplash specialist in restoring health.

With our chiropractic procedures, we have helped 100’s of accident injury patients, bringing pain relief and helping them feel as good (and many times, better) than they did before their accident.

Importance of Immediate Care

What a lot of people don’t realize is that it can take multiple days, sometimes weeks before any whiplash symptoms occur.

The reason it can take a few days to feel the symptoms is because it can take time for the inflammation from the tears in the injured ligaments and muscles to build up and further aggravate you. When the delicate ligaments that support your neck are wounded, the muscles react by tightening to guard the injured area. This protects the damaged area from further injury.

A few weeks following this injury, the distressed tissue releases chemicals that attach little cells to the wounded area, called Fibroblasts and creating a scar-like material called fibrin. Fibrin then helps mend and rebuild the injury.

During these few weeks of repair, it is extremely important to maintain normal ranges of motion, as well as spinal alignment. If this is not done properly, the scar tissue will end up limiting the future mobility of the injured area and lead to spinal degeneration.

See how Dr. Jamee Fike and Dr. Daniel Warner can help you!

Whiplash Relief in Orlando FL Call: (407) 203-6745

Source: Summit Chiropractic – Whiplash Pain Relief

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You’ve been in a car accident. Now what?

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None of us wants to admit that we’ll take part in those statistics; but assuming that you will be in an accident at some point, do you know what to do? Let’s break it down into two categories: what you should do at the scene and what to do after the accident.

At the Scene

  • Stop. According to the Florida DMV, you must stop. And if anyone is hurt, you are required to get help. In addition, you should give your name, address, and vehicle registration number to others involved in the accident. If you leave the scene of an accident that involves injuries without providing your information your license may be revoked.
  • Don’t Block Traffic. If traffic is being blocked by your car you must move it. If you can’t move it yourself, you are required to get help or call a tow truck. Your car should never block traffic in any situation. Before you move the vehicles, you might want to use your phone to take photos, including the surrounding area, traffic signs, lane markings and the damage to vehicles involved. If there is any dispute about the accident, photos can provide a wealth of information and assistance in handling any claims following the suit.
  • Report it. According to Florida law, any car accident that involves injuries or property damage over $500 must be reported. In these situations, you should call the local police department, sheriff, or the Florida Highway Patrol. Some experts advise that you should call the police in any accident – even if the other person wants to keep it off the books or you think the damage is minor. Because you don’t know how things will actually turn out, a police report will provide an official record of the accident.


After the Accident

  • Call your insurance agent. People in the insurance industry say you should call your carrier regardless of the accident’s severity. If any payments have to be made to you or anyone else involved in the accident, the sooner your insurance company knows of the situation, the better.
  • Do not admit fault. Be honest with police about the facts but let them determine your level of liability. Most car accidents happen because one of the drivers was legally negligent. Negligence is when someone has a duty to act with reasonable care and fails to do so, causing harm to another person. A negligent person is required by law pay for the harm he causes to another person in proportion to his or her liability for the other person’s losses. If indeed you are the one charged in a traffic accident you will have the opportunity to explain what happened in court. At that point, the traffic court will decide what the penalty is. If you want a deeper dive into defining negligence, Click Here to read a blog where we go in depth on the matter. 
  • Consider an attorney. If it is not a straightforward matter, an attorney might be helpful in getting to the bottom of the claim. Particularly if you are injured in the auto accident or the damage to your vehicle was extensive or if there is some question about fault. Of course, if you think you will need the help of a lawyer, make sure you document any medical expenses or other interactions that occur as a result of the accident.

Being in an accident is never convenient or easy. But, if you follow these simple procedures, the aftermath of your accident will be less frustrating and complicated. Personal Injury Law is an aspect of law that we focus on, and if you want to know more or have other questions, make sure to give our Personal Injury Page a look. It contains a more expanded grouping of information, but as always, if you have questions, The Orlando Law Group is here to help. Never hesitate to reach out. 

 

 

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So you’ve been arrested for DUI, what happens next?

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The officer will likely walk up to your window, ask you for your license, insurance card, and vehicle registration. He or she may ask other questions to get you talking. The officer is looking for the “distinct odor of the impurities of alcohol.” When the officer asks you out of the vehicle, they will ask you to perform a sequence of Field Sobriety Exercises. These exercises include following a flashlight with your eyes, standing on one leg, and performing the “walk and turn” which is basically just walking heel toe down a straight line.

Once you have completed these exercises, the officer will make a determination as to whether or not to arrest you on suspicion of DUI. It is at this point, once you are under arrest, that you will be asked to submit to a breath, blood, and/or urine test. This test is what the officer’s use for confirmation of DUI in their minds. Understand, even if you blow UNDER .08, you can STILL be arrested for DUI. Even if you blow a 0.00, you can STILL be arrested for DUI.

So, should you submit to alcohol testing?
Florida Statute 316.1932 governs refusal to submit to alcohol testing. A refusal in Florida results in the automatic suspension of your driver’s license for a year. If you refuse a second time, it becomes an additional criminal offense along with the mandatory suspension of your driver’s license. Consenting to a breath test provides the officer further evidence to make the arrest for DUI and the State Attorney with additional evidence to use against you of impairment should you choose to take your case to trial. It is up to you to determine whether or not submitting to alcohol testing is in your best interest.

What happens if you weren’t driving?
What if instead of saying “I’m perfectly safe to drive” and driving home, you say “no way can I drive, I’m going to sleep it off in my car.” You may think by sleeping it off in your car, you are doing the responsible adult thing. However, you can still be arrested for DUI even if you are not physically driving your vehicle. Florida law provides that if you are in actual and physical control of your vehicle, you can be arrested. In layman’s terms, if you are in your car, with the keys, and have the ability to make it move, you can be arrested for DUI.

So you’ve been arrested for DUI, what happens next?
If you have been arrested for DUI, you will need to contact an attorney immediately to represent you. Following your arrest, an attorney can

  1. Guide you on how you can get a hardship license
  2. Advise you about penalties following a first and subsequent DUI
  3. Determine if any motions can be filed to help win your case

Please, contact us today for advise on how to best resolve your DUI or other criminal matters.

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You’ve Been Served! What is the first thing you should do if served with a summons and complaint in Florida?

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Following the initial emotions, undoubtedly there will be a number of questions. What is the best approach? What are the first steps? What do the various legal terms even mean?

Let’s start by defining the terms. What is a summons? A summons is an official written order to appear before a court, judge or magistrate because you have been named as a party in a lawsuit. What is a complaint? A complaint is a pleading filed by a Plaintiff stating the claims they have against the Defendant as well as the action they would like the court to take. The plaintiff is the person who has filed a complaint/charges against the defendant for prosecution by the courts, while the defendant is the person who is refuting the charges and is seeking to prove his or her innocence.

As a defendant, it is important that you do not ignore the summons. The popular adage that “if you ignore it, it will go away,” does not apply in the legal system! Once you receive a summons and complaint, an action has already been filed in the court system. Pursuant to Florida law, you have 20 days to file a written response with the court. The court clock starts running the moment you receive the summons and complaint. If you do not file a response, the plaintiff will be able to file a motion and obtain a default judgment against you. A default means that you have no defenses to present in the case. Once a default is in place against you, you will be prevented from defending yourself at any later date, even if you have excellent defenses.

What should you do to respond to the summons? In short, contact your attorney immediately. BEFORE you file any kind of response.

Your written response will become a permanent record in the case. So, do not take it lightly! It should be crafted carefully so that you say exactly what you need to say – no more, no less. Some defenses that may be available to you are waived if you do not raise them in your initial response. Therefore, it is imperative that you and your attorney thoroughly examine the court documents for any defenses, defects or standing issues.

It is important that you are open and honest with your attorney concerning the case at hand. With her help, you can begin to piece together the facts of the case. Your attorney can help you collect any necessary paperwork and think through any witnesses to the incident that might be helpful and could testify.

In the meantime, do not contact the attorney for the plaintiff or the plaintiff or any member of his or her family. Do not contact the court, a judge or any other official of the court. It might also be wise to severely limit the circle of people you speak to about the case.

The truth is, the legal process is nuanced and complex. A good attorney can help you navigate these steps and the options at hand. Having a little help makes “being served” much less scary.

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Know The Value of Your Intellectual Property

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Protecting your business name, key phrases, symbols and products at the State level is affordable and helps prevent other entrepreneurs from monopolizing on your groundbreaking business concepts. At the Federal level, trademarking your logo will protect the image associated with the products and registering the mark and/or domain name with United States Patent and Trademark Office (USPTO) is an extra layer of protection that will identify your mark as a source of the product. While Federal protection is more of an investment, the registration does not expire if all filing requirements are satisfied.

Intellectual Property theft is a growing threat, especially in areas of digital technologies, and is costing U.S. businesses billions of dollars each year. Protecting your ideas, creative expressions and preventing product infringement should be high on the small business owner’s list of priorities. Many small businesses are targeted specifically due to their inability to respond legally.

Trademarking the standard characters of your business entity is fairly simple and the return on the investment is invaluable. As a business owner, you should consider your options to protect, manage and enforce your intellectual property rights in order to get the best possible commercial results from its ownership.

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My Business was Sued! What Should I do?

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Before you are Sued

Often times, before being sued you will receive a demand letter. A demand letter is a formal notice demanding that the recipient performs an alleged legal obligation such as rectifying some identified problem, paying a sum of money or acting on a contractual commitment. Most demand letters will include a deadline for action. Demand letters are not actually lawsuits. At this stage, you should consult your lawyer in order to decide how to respond. At times, you may be able to show the writer that you did nothing wrong or you may be able to reach a settlement agreement. By taking these necessary measures, you could avoid being sued all together.

Once a Formal Complaint Has Been Filed

If the matter is not resolved through a demand letter or settlement, you will receive a formal complaint. A formal complaint can be delivered by a sheriff, mailed to your company or given to whomever your company indicated as the “agent for service of process.” Accompanied with the complaint is a “summons.” A summons indicates that you have been sued, states the claims being made, tells you how long you have to respond, and identifies the appropriate court.

The following is a list of steps you should consider in response to the summons:

  • Call your lawyer. Speak with your lawyer before you attempt to contact parties or witnesses, solicit advice from any non-lawyers, or respond to the legal action. Be honest with your lawyer and collect all relevant documents.
  • Refrain from discussing the issue with anyone other than your lawyer. Do not speak with the opposing party under any circumstances, and do not provide a recorded statement without your attorney’s consent.
  • Review the Papers Promptly and Act Quickly. In most courts, you are only allotted 20 – 30 days to respond to a complaint. A hearing can sometimes be set within of 3 – 10 days. A lawyer will need the time to learn the facts and prepare a response. Putting it off or ignoring the complaint can be costly. Failure to file an answer to the lawsuit within the time allotted can lead to a default judgment against your business. A default judgment can award the plaintiff full damages sought in the complaint, and force you to make payments to satisfy the judgment promptly.
  • Notify your insurance company. Because defending lawsuit can be very expensive, it is important to verify your business and homeowner’s insurance. Check your current and older policies. Confirm that you are covered by the insurance of a trade association, your landlord, or policies brought by suppliers, vendors or others that may consider your company insured. Converse with your lawyer and insurance agent to find out what kind of insurance you possess so that you can obtain help to resolve your claim.

In our culture, it’s just a reality that every business owner has a high likelihood of being sued at some point. Taking these actions can help ease the tension of being sued and help you obtain the best result.

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Should I hire an employee or an independent contractor?

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However, in our increasingly mobile world, hiring isn’t just a matter of finding the right employee. Whether virtual or on-site, sometimes an independent contractor is a better fit for the job at hand.

What’s the difference? According to Bankrate’s site, the difference is based primarily on the degree of control and independence over the work.

“An employee typically performs duties dictated or controlled by others. In many cases, an employee is provided training [and necessary tools] to do the job. And an employee works for only one boss.

“An independent contractor, on the other hand, generally has several clients. A contractor has his or her own tools (and in the modern workforce, this means digital devices, not just hammers and wrenches) and sets his or her own hours. And a contractor invoices for the completed work.”

Hiring an independent contractor can be a good fit if the job at hand requires a specialized skill that the company lacks or the business owner doesn’t plan to specialize in. It can also be a good idea for a short term project or a busy season. If a small business needs to save on labor costs, this option can also be a good way to go. An employer doesn’t need to pay benefits for contractors. Additionally, companies can save on taxes because it’s not necessary to pay the employer portion of Social Security, Medicare or state unemployment.

However, it’s important to understand and abide by the classification difference. It’s never a good idea to hire a contractor just to avoid the tax implications when you actually need/want an employee. If your company improperly hires a contractor when it should hire an employee, it is the business that will bear any compliance burdens and potential punishments. The IRS can come after your company when it discovers the misclassification and collect unpaid employment taxes. If you hire an independent contractor, you will need to file a 1099 if you pay him or her more than $600/year.

When is it time to hire an employee instead of a contractor? According to Raymond Grainger’s article on Entrepreneur, “The decision to hire full-time employees doesn’t have anything to do with the size of the organization as much as its profit margins. If the billable time of current full-time employees is at or above 85 percent and the profit margins are at least 50 percent, those are good indicators that the company is ready to add another full-time employee. A company makes less of a profit margin on contractors, so it’s important to factor in their workload.”

By Grainger’s reasoning, if these numbers aren’t being reached, the company is better off keeping its costs variable (by using contractors) until the firm can reach these margins.

Sourcing quality talent through independent contractors can be a good strategy for business owners. It’s just important to understand the ways they are different from employees and to use each classification well. Whether you’re hiring an employee who is going to be with you as a long-term investment or you’re working with a specialized contractor, there’s great value in knowing where the best talent is and how to manage it.

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VA Claims C File

Tips on Organizing Your C-File (VA Disability Claims)

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One of the first steps you should take before you begin your appeal is to obtain and organize your C-file. For those of you that are new to the veteran’s claims process, a Claims File, or C-file, is the file that is supposed to contain all of your medical information from your first medical exam for enlistment at the MEPPS station, up to and including your last medical exam prior to discharge from the military, as well as any additional records that you have provided to the VA from private doctors.

It is of the utmost importance that you know what is and is not in your C-file prior to filing your appeal. The most common documents found in your C-file are your DD-214, previous applications for claims, denial letters, rating letters, code sheets, military service medical records, VA medical records, medical records from private doctors (if you provided them), C&P exam records (compensation and pension) as well as your military service records. This list is not all inclusive and some documents may or may not apply to you depending on where you are in the appeals process and whether or not this is your first appeal.

Your C-file is one of the most important files used to establish your medical claim for VA disabilities (Fully Developed Claim or FDC) because it is the only file the VA will look at in making determinations about your claim. As we are all way to familiar with the short comings of government bureaucracies, you will want to make sure the VA has all the information that you have in consideration of your claim. The only way to make sure is to request and receive a copy of your C-file and organize it; but beware: it will very likely come to you as if it spent some time on a black-jack table in Las Vegas!

Prior to receiving your C-file, make a list of the particular disability or disabilities you are claiming or disputing. After you have received your C-file you will notice all of the 500-5000 pages are in no particular order. First, make sure the records you received are YOURS! When I first requested my file, I received records for another service member with a similar name, but in a totally different branch of service! Second, you should number your pages 1- XXXXX, in the order that you received them. This will help you reference them to the VA representative, DRO (decision review officer), or to any of the Judges during any of the future hearings you will be attending as they will likely receive your file in the same order you received them.

After you have numbered your documents, separate them according to their classifications mentioned above, i.e. C&P exams, VA medical records, private doctor medical records, military service records and so on. After that is completed, take those records in their respective piles and place them in chronological order. Once you have all your piles separated by classification and in chronological order, you should then pick out each document evidencing any of your particular claims as to your specific disability and group together any duplicates and triplicates. For example, in a claim for hearing loss you will want to pick out all of your military medical records and private doctor records related to hearing tests, treatments, doctor visits, complaints, prescriptions, etc. Additionally, you will want to pull any documentation that could possibly link your hearing loss to your military service. For example, any records showing that your MOS (military occupational specialty) could have played a part in your loss of hearing, such as, infantry, machine gunner, artillery, aircraft repair or maintenance – basically any military occupation with an inherent environment that could contribute to hearing loss.

Once you have your C-file organized, NOW you can begin building your claim and find out what records are missing and get those records to the VA to be included in your file.

 

Jeff Smith HeadShot 2016

Jeffrey W. Smith The Orlando Law Group, P.L.

 

 

 

*This article is meant for educational and informational purposes only and not as legal advice. This article does not establish or imply an attorney client relationship between the author of this article and the reader. The author of this article is NOT representing you as your attorney. You are advised to contact an attorney for legal advice related to the specific facts of your case.

 

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The Orlando Law Group, P.L. Selected to Gator100

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GAINESVILLE, Fla. – The Orlando Law Group, PL was named to the University of Florida’s 2016 Gator100 during a February ceremony at UF’s J. Wayne Reitz Union Grand Ballroom.

Sponsored by UF, the Warrington College of Business and the Entrepreneurship & Innovation Center, the Gator100 recognizes the 100 fastest-growing businesses owned or led by UF alumni. Ernst & Young calculated each company’s compounded annual growth rate (CAGR) over the past three years to generate the ranking.

The Orlando Law Group was ranked 66th with a compound annual growth rate (CAGR) of 34.69%

The Orlando Law Group was founded by Attorney Jennifer Englert in 2009. The firm was envisioned as a place where people could come to find someone who cared, give them a voice, and provide the expert knowledge needed to get through whatever legal challenge they may be facing. Jennifer Englert the founder and managing partner of the Orlando Law Group received her juris doctor from the University of Florida Levin College of Law in 1999.

“I am very excited that The Orlando Law Group has been recognized by the Gator 100,” said Managing Partner, Jennifer Englert. “I attribute the success of The Orlando Law Group to our three core principles: listen, care and solve. We not only achieve results for our clients but also show genuine care and concern throughout the entire process.”

“The Gator100 is an important initiative that recognizes entrepreneurial excellence,” said Dr. Michael Morris, the Academic Director of the entrepreneurship program at UF. “It is open to any and all companies founded or run by Gator alumni, and recognizes those who are achieving growth, innovating, and making a difference in their communities.”

To qualify for the Gator100, companies must have been in business for five years or more as of Oct. 1, 2015, and have had verifiable annual revenues of $250,000 or more in 2012. Additionally, a UF alumnus or alumni must have met one of the following three leadership criteria:

  1. Owned 50 percent or more of the company from Jan. 1, 2012, through Oct. 1, 2015; or
  2. Served as company’s chief executive from Jan. 1, 2012, through Oct. 1, 2015; or
  3. Founded the company and been active as a member of the most senior management team from Jan. 1, 2012, through Oct. 1, 2015.

CLICK HERE to view the full list of Gator100 honorees

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About The Orlando Law Group:
The Orlando Law Group (OLG) was founded by Attorney Jennifer Englert in 2009. Its diverse team of attorneys have a wide breadth of experience which allows them to protect their client’s rights through the evolution of their business, as well as personally while they progress through all stages of life. Over the years, they have created a stellar reputation in the community as professional legal experts who believe foremost that planning ahead is the best option for their clients, as their aim is to minimize the number of potential disputes and costs of litigation. The Orlando Law Group is more than a legal team, they’re your life-long partner who will work with you to build a relationship while creating solutions that work.

CLICK HERE FOR PDF VERSION

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Benefits of Using Accounting Software

Benefits of Using Accounting Software for Your Business

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In the accounting world, there are a lot of software choices that can make or break any business. Some software stands out from most choices, however. Good accounting software is highly beneficial to a business, and enables accountants to help the businesses they represent in a number of ways. There are a few programs offered by accounting solutions, each of which is affordable, easy to use, and allow for significant transparency in finances.

Adaptable

One of the most useful parts of some accounting programs is that each one is adaptable to the business using it. Often, accounting software is created with general usage in mind, so that they can be useful in some way to most kinds of business. However, this means that they will include many features that are entirely useless or unnecessary for the company they are bought for. More intuitive software, on the other hand, is built from different parts or modules. The result is an accounting program that is tailor-made for the company it is bought for and it is easily adaptable to changing marketplaces. This also means that companies only pay for what they will use, and they can end up paying less for it.

Efficient and Easy

Top accounting software is put together in a very simple way that is easy to learn and operate; It takes nearly no time to learn how to use this software. This saves businesses time that would otherwise have been spent by accountants needing to learn their new software, and money that would otherwise have been spent covering likely mistakes due to unfamiliarity. Accounting software also allows for very easy data storage, so day-to-day occurrences can be checked easily and quickly. Despite the simplicity of the programs, accountants are able to be highly efficient. The software is able to perform tasks such as predicting spending patterns based on invoices while remaining versatile, fast, and easy to use.

Versatility

Possibly the most important factor of the program is that accounting software helps businesses in more ways than simple accounting. Some accounting software, being as unique as it is, is able to perform tasks that most other software can’t. For example, it is able to examine spending trends, commitments, and project budgets so that it can warn and advise project managers when they are approaching budget limits. It can file business taxes and generate financial reporting and data. This means you can manage financial operations anywhere on the globe. In essence, the software is its own manager, not entirely unlike having an extra accountant who can monitor entire projects with a guaranteed efficiency (and high work ethic).

From www.sme-blog.com to The Small Business Blog

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Womens day

Celebrating International Women’s Day

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In a few days, the world will pause to celebrate women. On Tuesday, March 8, we will link arms with women around the globe to celebrate the social, economic, cultural and political achievements of women.
More than just a cliché of “you’ve come a long way, baby,” the day is part of a broader movement to celebrate the varied contributions of women to society. In the United States, the observance is part of Women’s History Month. Why an entire month dedicated to recognizing women? A visit to the official National Women’s History Project (NWHP), reveals that the observance arose out of a void. According to the NWHP site, “As recently as the 1970’s, women’s history was virtually an unknown topic in the K-12 curriculum or in general public consciousness. To address this situation, the Education Task Force of the Sonoma County (California) Commission on the Status of Women initiated a “Women’s History Week” celebration for 1978.”

The festivities centered around March 8th, which had already been declared International Women’s Day.

The week-long observance eventually morphed in celebrations that lasted the whole month of March until finally in 1987, Congress declared March as National Women’s History Month in perpetuity. Since that time, a special Presidential Proclamation is issued every year which honors the extraordinary achievements of American women.

Despite all the strides women have made both here in the U.S. and around the world, there is still much ground to be gained. In fact, according to the International Women’s Day site progress towards gender parity has slowed in many places. The World Economic Forum predicted in 2015 that it would take until 2133 to achieve global gender parity. THAT’S 117 YEARS!

Why does it matter? We’d like to think that that it matters for many good reasons. Ultimately, gender issues should be rooted in the intrinsic worth and value of every individual. But, if that’s not enough to convince us, perhaps the bottom line will. The facts show that gender parity is linked to economic prosperity. It’s an economic imperative! Women’s advancement and leadership are central to business performance and economic prosperity. Numerous global studies on the impact of women in leadership reveal that profitability, ROI and innovation all increase when women are counted among senior leadership.

According to the movement for gender parity, there are three accelerators, working independently and together, that can change the trajectory of women’s advancement. They are as follows:

• Illuminate the path to leadership by making career opportunities more visible to women;

• Speed up culture change with progressive corporate policy, such as paternity leave and flexible working; and

• Build supportive environments and work to eliminate conscious and unconscious bias.

By marking an entire month and specifically one day, we celebrate the achievements of women while shining a light on the gender parity that still exists worldwide. Truth be told, celebrating the successes of women is especially near and dear to our hearts here at The Orlando Law Group. Our growing firm started with the vision of one woman and initially developed as an all-female legal team. While we have added men to the team over the years, we’re proud of our roots! Will you join us in pausing to highlight the women among us this month?

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Taxes Bankruptcy

So, You Still Haven’t Filed? Tax Do’s and Don’ts for You and Your Small Business.

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Tax time certainly isn’t the most exciting part of running your own small business. In fact, for most business owners, bookkeeping, in general, is a necessary evil. Keeping receipts, tracking expenses, and knowing tax law is probably NOT the thing that drives you.

But, it needs to be done. And it needs to be done well. If tax season is typically a stressor for you, a little planning and effort might help your tax return go smoothly – even this close to April 15th.  Here are a few tips for you to consider.


Don’t fail to file. Find out exactly what paperwork you need to file for your specific type of business. Keep your receipts, invoices, bank statements and other documents organized in case you ever get audited. If you need to backtrack to find your documents and get caught up, do it now. Don’t wait another second!
Do keep simple records of earnings and expenditures. Bookkeeping can be a very basic system: money in and money out. You can keep a spreadsheet or even just a ledger book. However, we strongly recommend an online accounting software package such as QuickBooks, FreshBooks, Wave or Zoho.  With little to no investment, such a program can save you hours in time, and make your accountant’s life easier at year end. (Online reviews like this one will help you choose a software that works best for you.) No matter what method you use, you will need to break down how you spent and earned in order to get the information the IRS needs.
Don’t forget to claim for the costs incurred as a result of setting up your business, such as company formation costs or any equipment you may have purchased.
Do make sure you claim all the allowances you and your business are entitled to. These include everything from capital expenditures to claiming help with your business rates. If you are running a business from home, check into claiming expenses for a proportion of your home-related costs.
Don’t blend business and personal. Keep business expenses, income and accounts separate from all personal finances to avoid confusion.

Do consider hiring a good accountant. This might be our best piece of tax advice! A good accountant might become your most important advisor, and could even save you money in the long run. At this late date, you might be in a little bit of a crunch but consider these qualities in an accountant (as taken from the FedEx Small Business Center site):

  • Choose someone who is responsive and timely. A good indication of their responsiveness? How quickly they return your call or email. You want to be on their priority list, not their back burner.
  • Ask around for a personal referral. If a friend or family member endorses an accounting professional, odds are you’ll be in good hands.
  • Look for someone with experience in your industry. Many accountants specialize in a particular field. If you own a business, choose an accounting professional who understands your work.
  • Find one who’s right for you, personally. Like in picking a doctor or dentist, subjective preferences play a role. You’ll be forming a long-term relationship with this person, so if your communication skills clash, keep looking.
If tax time was a bit of a scramble for you this year, we’d encourage you to plan ahead and develop some good recordkeeping habits now in anticipation of next year. Stay up-to-date by reconciling bank accounts, updating your accounting system and maintaining your books so they’re current and accurate when you need them. Just 30 minutes a week can make all the difference when tax times rolls around next year.

 

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Need A Real Estate Attorney

Why You Need a Real Estate Attorney When Buying a Home

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For most people, buying real estate is the biggest purchase they will ever make. Before committing yourself to a contract that will affect your life and your wallet for years to come, hire a real estate lawyer. Why – when so much is at stake – would you purchase a property without knowing whether your rights to use the property are in any way limited? Why would you rely on a generic contract that was not written for your specific set of circumstances? And why would you sign it without understanding what everything in it means?

A lawyer will request that all of the documents in the public records relating to the property be provided for her review so that she can fully inform you of matters that will affect your use of the property, such as easements and restrictive covenants, and will be sure that you understand any limitations or restrictions prior to purchase. A lawyer can also develop ways to resolve title issues, such as unpaid liens affecting the property, to keep the deal from falling apart or closing from being significantly delayed. A lawyer can review the survey and discuss any items of concern with you. Realtors and closing agents cannot do these things since they cannot lawfully give legal advice. Wouldn’t you like to know while you could still back out of the purchase that you wouldn’t be able to build that pool you promised your kids because there is a conservation easement that prohibits making improvements in that area of the property? What about learning prior to purchase that the condo you are about to purchase is on the side of the coastal construction line where construction was actually prohibited? Do you want to take the risk of having to evict tenants who decide not to leave after you buy the property? If these are things you would like to know about and be protected from prior to making one of the biggest investments of your life then hire a real estate attorney when you are thinking of purchasing.

And hire that attorney before you sign the contract for purchase. Lawyers are experts in negotiations and contracts. A lawyer can – and should – negotiate changes to the standard real estate contract in order to protect your specific interests far better than a generic form contract would protect them. For example, there are many things that can affect the property in a way that would make it undesirable to you personally but that do not make it unmarketable under a standard real estate contract, such as the conservation easement discussed above. Therefore, you as a purchaser would likely still have to go through with the purchase after discovering those undesirable items under a standard real estate contract. However, a lawyer will know to adjust the standard contract so that all information necessary for a fully informed purchase will be received while you are still able to walk away from the transaction without repercussions. A lawyer can also negotiate to have some or all of your lawyer’s fees paid by the seller when you get the lawyer involved prior to signing the real estate contract.

Kimberly Hosley Agee, The Orlando Law Group, P.L.

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Real Estate Law

What should I do before buying a home in an HOA?

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Beautiful houses. Well-manicured lawns. Good schools. Involved neighbors. These are a few of the perks that come with living in a community that has a Homeowner’s Association (HOA). An HOA is designed to protect the value of your home and maintain order in your community. For example, an HOA makes it tough for a guy like a cousin Eddie to park his dilapidated RV in front of your house during Christmas vacation.

Sounds perfect, right? Well, it might be. But, it’s also not for everyone. The very regulations that protect you, can also limit you or cause legal trouble for you. It’s important to make sure you know exactly what you’re agreeing to before you buy a home in an HOA. Most HOAs manage the common areas and amenities as well as all covenants, conditions, and restrictions (CC&Rs). There are three important documents for you to review before buying in an HOA: the CC&Rs, the homeowners association bylaws, and the HOA budget and financial statements. These, along with any HOA meeting minutes, will help you get a feel for exactly what you are agreeing to by joining the HOA.

Here are some things to consider about your potential HOA:

  • What are the membership dues? How likely are they to rise? When and how are they assessed? Do you need to factor a one-time capital contribution to your closing costs?
  • What do your dues cover? These vary greatly from community to community.
  • Does the HOA limit pet ownership? What about other animals like chickens?
  • How clear are the stipulations about the appearance of your home? For example, can you fence your backyard? Do you have to follow rules about lawn care? Can you paint your front door red? Where should you park your motorcycle?
  • Can you rent your residence to another party?
  • If you don’t meet HOA requirements and try to sneak a chicken coop on your property, can the HOA levy a fine? What is your recourse?
  • If you don’t (or can’t) pay your HOA dues or fines, what steps can the HOA take? Can they foreclose on your home?

CC&Rs and bylaws are extremely difficult to get around, so be sure to review these documents carefully before you buy a home. Be prepared for special assessments on community buildings, especially if they are older. If the roof needs to be replaced, the HOA might collect money from each homeowner to cover the cost.

Lastly, be aware that there have been charges of unscrupulous behavior against some HOAs. Check to see if there is any litigation pending against the HOA and take the time to check its financials as well as its recent assessments (for community fixes or upgrades).

Many people find the pros of an HOA outweigh the restrictions. Our recommendation is simply that you take the time to be sure you know exactly what you’re agreeing to BEFORE you buy your home. A little work on the front end can save you legal hassles down the road.

 

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Is a franchise right for me

Is a Franchise Right for Me?

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More and more people are looking to set up their own business, especially with the economic uncertainty and lack of jobs on a global scale. But setting up a business from scratch is not for the fainthearted. One in three new businesses fail within the first three years, often leaving a trail of financial devastation in their wake – which is why so many who want to reap the benefits of running their own business opt for the tried and tested franchise route. Well-known business models and familiar household names ensure that the franchise option for new business start-ups is a long-established and accepted path. Starting a business under a well-known and proven brand stands a greater chance of succeeding, than starting up from scratch.

The real estate market however is still buoyant – certainly in the estate arena at least. But owning an estate agent franchise is by no means a quick path to riches, and if you choose this franchise option, you will need to be energetic, motivated, a great communicator and possess real commercial tenacity to make it work for you – A successful business in real estate is as much about being good with people as it is about being good at sales – and you have to love both!

These days you don’t even need a high street base. Running your business online is becoming increasingly more viable, and the internet has taken its place in our lives as the oracle of all things real-estate. You can have a virtual shop, you can exchange virtual money, you can talk via email, Skype or text, pay by PayPal, you can take credit card payments with your mobile and conference call prospective tenants and landlords as long as you have a computer, broadband and a web-cam! Paperwork is paperless and the whole way we run and operate business has changed beyond all recognition.

Running a business without doubt requires the same, if not more commitment as you would apply to a job as a simple employee, but the difference is that you can, within reason, choose your own hours to fit around other commitments such as family or other jobs for example.

The private estate industry is growing exponentially, with fewer and fewer people able to buy their own properties turning to the rental market, so if you are willing to get your hands dirty and muck in wherever your business needs it, you’re keen to try new approaches, and to take on new challenges and have a great attention to detail your business will do well.

Source from www.sme-blog.com to The Small Business Blog

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Partner Divorce

How to “Divorce” Your Partner the Appropriate Way

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It is a well-known saying that a business partnership is a lot like a marriage. Unfortunately, just like marriages, partnerships can fail. In fact, some statistics say that 50% of both end in divorce.

When they do, it is best for everyone to make it as amicable as possible. Business partnerships end for a variety reasons: personality conflicts, different styles of doing business, financial difficulties, new goals or lifestyle changes for one of the partners. As long as you haven’t had a huge falling out, your exit strategy can ensure that your interests in the business are protected and that you leave with a favorable reputation.

As with any relationship, communication is the key at every step – including when you choose to end the partnership. Your business partner should not be surprised when you decide you want to move on. If they didn’t already know that your goals were shifting or that you were discontent, you start the proceedings at a disadvantage. Communicate along the way. And, when you do decide to tell them, don’t use email or a phone call to avoid the tough conversation. A sincere face-to-face interaction will be best.

As well, if you know you want to move on, don’t wait too long to start planning. Ending a business partnership is not an overnight process, so keep a time-line in mind as you determine what works best for you.

There are several options to consider for terminating the partnership. Start by having a brainstorm session with a few of your trusted advisers on all the options. Two things will help this brainstorm. First, review your owner’s agreement. Before you went into business, you should have prepared an agreement. Revisit the document in detail so you know if possible options are already outlined. Second, determine the value of your business and what the financial ramifications are of selling or leaving the business in general.

You could simply offer to sell your partner your half of the business. Or, you could offer to bring in a third party whom you could groom together and sell that third party your half of the venture. If your partner is not interested in moving on without you, then you may opt to close your business and support each other in your new pursuits. The process will go smoothest if you can come up with a win-win. Determine what would be a win for you, a win for your partner and a win for you both. As in any negotiation, you need the other side to have some wins. So when you are ready to present your ideas to your partner, go in with a plan that allows you to make some concessions

There are a few practical considerations that will help should things start to get sticky:

  • Obtain a personal attorney. You won’t be able to use the company attorney because it would be a conflict of interest. Find a new attorney who will work with you exclusively. Have them go through all the details with you and coach you on possible outcomes, and then keep the attorney in the loop at every step of the way so that she can continue to anticipate and coach.
  • Consider all paperwork that needs filing, as well as all accounts that need closed. Make sure that all debts are all paid off, settled, or transferred to the new owner. Follow-through on whatever you have agreed upon, taking care to meet every financial obligation and other milestones on time.
  • Finally, once everything is agreed upon, announce it to your staff. Help stem any gossip by setting the record straight by telling them that you and your partner have agreed to go separate ways and what the plan is going forward. If the business is going forward without you, the change in leadership can be scary for your staff, so this is a critical time to show your confidence.
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The Orlando Law Group Launches New Title Company

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Orlando, Florida, Tuesday, January 19, 2016 – The Orlando Title Group is founded by The Orlando Law Group’s (OLG) Jennifer Englert and Kimberly Hosley Agee.

The Orlando Title Group will draw on the real estate experience of attorneys Englert and Hosley Agee to provide a new service to clients. The company will focus on providing title searches, reviewing surveys, verifing that the taxes on the property have been paid, providing title insurance, working with the mortgage lenders and filing paperwork with the County Recorder’s office after closing. They will also hold funds in escrow to be distributed to the proper parties at closing.

“We are very excited about the launch of this new company,” explained Orlando Title Group co-founder Jennifer Englert. “This new company made sense for us as a way to expand our client services in the Real Estate industry. In addition, the fact that we are attorneys will give us a leg-up since our experience allows us to look at the big picture for our clients.”

They are located at 12301 Lake Underhill Road, which is conveniently situated near the 408 and 417.

“The Orlando Title Group allows us to continue to better serve real estate clients in the Central Florida area,” said Kimberly Hosley Agee, co-founder of the Orlando Title Group. “We are thrilled to be part of the process in helping people with one of the largest purchases they will make, a new home.”

To find out more about The Orlando Law Group visit www.theorlandolawgroup.com.

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About The Orlando Title Group:
The Orlando Title Group, LLC was founded by Attorney’s Jennifer Englert and Kimberly Hosley Agee in 2016. Its mission is to help clients determine the validity of a property’s title and to ensure the transfer of a clean and marketable title. Their goal is to make the home buying/selling experience a smooth process for their clients.

About The Orlando Law Group:
The Orlando Law Group (OLG) was founded by Attorney Jennifer Englert in 2009. Its diverse team of attorneys have a wide breadth of experience which allows them to protect their client’s rights through the evolution of their business, as well as personally while they progress through all stages of life. Over the years, they have created a stellar reputation in the community as professional legal experts who believe foremost that planning ahead is the best option for their clients, as their aim is to minimize the number of potential disputes and costs of litigation. The Orlando Law Group is more then a legal team, they’re your life-long partner who will work with you to build a relationship while creating solutions that work.

 

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Benefits of Mobile Shredding

How Your Business Could Benefit from Mobile Shredding Services

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All businesses, whether large or small, will produce or possess sensitive information. This data must be kept confidential in order to protect the interests of an organization. If you do not dispose of this data in the right manner, it could compromise your company as well as your clients. It is important to get rid of any valuable documentation through a secure process.

There are a wide variety of mobile document shredding services available to consider, and with the efficient destruction of data in a timely fashion, your company will be in accordance with privacy legislation and your client information stays safe. Sensitive data could include letterheads, invoices, tax forms, contracts and bank statements. Hard copies of data, published by hospitals and law firms, for instance, deal with confidential data on a daily basis and to avoid fraudulent use, they must make sure to destroy this data in the right way.

Your business could benefit from mobile shredding services in the following ways:

  • Large amounts of data can be disposed of quickly and smoothly.
  • It is cost effective as you do not have to manage in-house data disposal.
  • It leads to less clutter and efficient business management.
  • A business manages to stay environment-friendly as all shredded documents will be recycled.
  • An organization can avoid identity theft and fraud.
  • Business processes become cleaner and easier to handle.
  • Data can be shredded onsite which is more convenient for the business or company.
  • Secure containers which ensure that all confidential documents remain safe from a breach of security.
  • You can witness the shredding process first hand.
  • Shredding of all kinds of material including computer disks, hard drives, paper, cassettes and more.
  • All shredding is managed and operated by experts.
  • A Certificate of Destruction will be provided on-the-spot.

Prioritize your business requirements and keep your data protected.

Source: www.sme-blog.com to The Small Business Blog

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Time for a check up

New Year? Maybe it’s Time for a Check-Up

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With the start of a new year just behind us, many people have been taking the time to reflect on the past year and re-prioritize their objectives as they head into 2016. For many of us, we have a goal of kicking off the new year with renewed vigor and a clear mission. We make lists and think of personal habits and business changes we want to make.

But, it’s also important to make sure your own affairs are in order. One important item to add to your 2016 list should be getting an estate plan checkup.

Everyone has an estate, and every estate needs a plan. Whether you consider yourself rich or poor, when you die you will leave behind assets. Your estate might include cash and investments, real estate, tangible personal property, or even an interest in a business.

At its most basic level, an estate plan determines how your assets will be distributed to those you leave behind when you pass away. Because of the ever-changing nature of tax laws, financial markets and the economy, an estate plan checkup is an important activity to revisit. Even if you already have an estate plan, it is imperative that you revisit that plan in order to ensure that it remains relevant under your current family and financial circumstances.

Just like an annual visit to your physician, a periodic review of your estate plan can either reinforce the fact that all is well and in order, or it can uncover the need for additional attention to return your plan to a healthy state. Keeping a keen eye on your plan will go a long way in avoiding disputes between your loved ones, as well as managing the amount of your hard-earned dollars that must go to cover federal and state estate taxes.
No matter what your net worth, a basic estate plan should include a valid will, durable power-of-attorney, health care power-of-attorney, and a living will. Some situations might also make it desirable to use a trust or series of trusts to accomplish your goals.

An estate plan check-up involves a review of the terms of all of these documents, with a particular focus on determining whether the persons you named to act in your absence remain appropriate, and whether the plan for distribution of your assets is still what you desire.

In addition to the implementation or review of your documents, your estate plan check-up should look at related issues such as the desirability of life insurance, disability insurance, or long-term care insurance, as well as the ongoing impact of pre-nuptial agreements or any other documents that affect your assets.

Estate planning is not a static event that you grudgingly do once and then forget about it. On the contrary, estate planning is a continuing process, because life is a moving target that is full of constant change, so your estate plan needs to change as your life changes. A periodic checkup will insure that all is healthy as you move into the future.

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The Legal Aspects of Setting up a New Business

The Legal Aspects of Setting up a New Business

Beginning a new business can be an exciting process, but the legal aspects of it can be quite intimidating. Often, asking business solicitors for advice and aid can be a good way to get everything in order. If you are wondering what sort of questions you should ask when getting law advice for your new business, consider the starting points below.

Commercial Property

Any business, even one that focuses mostly on online activities, needs a physical location to get started. The decisions about whether you want to buy or lease an office space and what sort of zoning permits you need are among the first and most significant legal questions you will face. Business solicitors can help provide advice on mortgages, lease extensions, the repurposing of property, and contract negotiations regarding commercial buildings.

Employment Law

How do you plan to handle the hiring process for your business? Even a start-up company that includes yourself and a few friends will need to expand the staff if it is successful. Any sort of hiring process requires you to know about human resources laws and regulations in your area, redundancy procedures, and contract law. There is a need to make sure that the hiring process is fair at all times, but also to ensure that you are protected from people who try to unfairly take advantage of the system.

Partnerships

Most businesses start up as a small group of individuals, but they can grow quickly. When that happens, it’s important to determine a hierarchy of authority and to think about how you want to handle present and future partnerships. You should seek out advice on what personal investments should be required from each partner, how profits and losses need to be allocated among the different people involved, and how much flexibility you want in terms of altering the partnership. Remember also that successful business people starting a new business can be an exciting process, but the legal aspects of it can be quite intimidating. Often, asking business solicitors for advice and aid can be a good way to get everything in order. If you are wondering what sort of questions you should ask when getting law advice for your new business, consider the starting points below.

Commercial Property

Any business, even one that focuses mostly on online activities, needs a physical location to get started. The decisions about whether you want to buy or lease an office space and what sort of zoning permits you need are among the first and most significant legal questions you will face. Business solicitors can help provide advice on mortgages, lease extensions, the repurposing of property, and contract negotiations regarding commercial buildings.

Employment Law

How do you plan to handle the hiring process for your business? Even a start-up company that includes yourself and a few friends will need to expand the staff if it is successful. Any sort of hiring process requires you to know about human resources laws and regulations in your area, redundancy procedures, and contract law. There is a need to make sure that the hiring process is fair at all times, but also to ensure that you are protected from people who try to unfairly take advantage of the system.

Partnerships

Most businesses start up as a small group of individuals, but they can grow quickly. When that happens, it’s important to determine a hierarchy of authority and to think about how you want to handle present and future partnerships. You should seek out advice on what personal investments should be required from each partner, how profits and losses need to be allocated among the different people involved, and how much flexibility you want in terms of altering the partnership. Remember also that successful businesspeople tend to get many exciting opportunities once they’ve established themselves. In case it’s time for someone to move on, advice on dissolving partnerships is also useful.

Protection from Crime

Business crime can take many forms, including embezzlement, security breaches, or even physically dangerous situations such as robberies or arson. Business solicitors can help provide you with advice on where your potential vulnerabilities as an organisation are and how you should go about protecting yourself. For example, if your business requires you to have a lot of cash on site, you need to make sure you invest more in security and look into the proper levels of insurance to protect not only your interests but also the interests of your clients and customers.

Having somebody who knows about the ins and outs of business law is an important step that you can take to protect your fledgling company from the perils that await many new businesses. There are many legal aspects to consider, and no matter how excited you are about the possibilities of your new company, it always helps to have somebody else give their advice and opinions.e tend to get many exciting opportunities once they’ve established themselves. In case it’s time for someone to move on, advice on dissolving partnerships is also useful.

 

 

Source: www.sme-blog.com to The Small Business Blog

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Business Takeovers

Business Takeover Disasters!

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The process of taking over another company can be a very exciting time for you and your business, but it can very quickly turn into an unpleasant experience with serious lasting consequences. Here are some of the biggest mistakes made by companies during takeovers:

  • Inadequate due diligence – You need to have done extensive research into the finances, existing contracts and liabilities of the company you are buying in order to avoid lawsuits, extra expenditure or loss of sales.
  • Ignoring the culture of the target- If you underestimate the importance of culture then you are likely to experience some clashes, as no two companies will ever seamlessly fit together. To avoid misunderstandings and conflict from the beginning it is best if you set down a clear and consistent policy favoring the dominant culture.
  • Forgetting to keep customers informed – You will need to reassure customers that the takeover is in their best interests because your competitors will attempt to unsettle them during this period.
  • Failing to retain key employees – It is possible that competitors will also try to steal your best employees at this time by playing on insecurities they have about their own future within the company. You must reassure them and also be forthcoming about job cuts because an atmosphere of uncertainty will lead to false rumors spreading.
  • Overpaying for target – Do not get carried away and end up paying far above the market value of the target, especially in e-business where it can be easy to over-estimate the value of a company because of the amount of potential you believe to be there.
  • Bad leadership – Without a clear and powerful leader to drive the takeover forward it will stagnate. Make sure that if you are creating a combined managerial team from the two companies everybody is sure of their role.
  • Not understanding foreign markets – A cross-border merger can easily fail if you simply assume that things are the same in another country. Legislation or consumer attitudes towards products and advertising can be vastly different.
  • Poor IT integration – This process is never as simple as just swapping one IT system for another. In order for the transition to go smoothly it will require a lot of planning.
  • Failed brand consolidation – It will be important for you to have a clear idea of how you want to manage the new brands you acquire. Maintaining a brand can be expensive in marketing terms so you may wish to drop some entirely.
  • Mis-timing the takeover process – You will need to get the timescale just right in order to be successful. Rushing to completion could ultimately result in a poor merger with aspects overlooked, but going too slowly will only extend the period of upheaval further.

The best advice for completing a takeover successfully is to consider all the areas that could potentially go wrong and make sure you have a comprehensive action plan to guide the company through this period.

 

Source from www.sme-blog.com to The Small Business Blog

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Spreading Yuletide Cheer

Spreading Yuletide Cheer? An Employer’s Guide to Navigating the Holiday Season

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As the year winds down, we find ourselves in the middle of another holiday season. For many Americans it is a time steeped in tradition and festivity. In addition to family celebrations and time with friends, December also brings many company activities. For example, many companies organize holiday parties, decorate their offices, host parties or even set-up secret gift exchanges among coworkers. Usually these events are organized with good intentions in hopes of fostering a fun work environment. In truth, such activities can be a huge “win” by offering opportunities to celebrate the successes of the year, building community within the workplace, and growing a strong reputation. Many employers, however, do not realize that there are also some potential risks involved with observing holiday festivities.

While you don’t have to cancel the holiday fun, there are several issues employers should proactively watch and plan for during this holiday season.

Party Planning. While holiday parties are festive (and should be), each one holds a minefield of potential embarrassment, regrettable behavior, and, in worst case scenarios, discrimination and harassment lawsuits. Employers can safeguard against these claims in many ways.  For example, it might be wise to send a memo to employees before the holidays reminding them that the company’s dress and behavior codes – and harassment policies – still apply to an off-site, after hours, company-sponsored event. Examples of bad party etiquette usually stem from too much free alcohol and include things like the odd lewd remark, an offensive joke or inappropriate touching. These can all lead to complaints of sexual harassment or misconduct.

It’s important to note that mandatory holiday parties are considered work, so you can be held responsible for any injuries at the party. Make sure your business insurance will cover any injuries sustained during holiday events. Employers should also be aware of the potential for accidents and liability and take reasonable steps to avoid them.

Additional Time Off. The holiday season can also upend issues related to time off.   As employees take extra time off to shop and prepare for the holidays, problems might arise from long lunches, leaving early, and arriving late. While there is no need to be a Scrooge, employers might want to take this opportunity to note the importance of timekeeping. Make sure everyone is treated equally and consistently to avoid any misunderstandings or possible discrimination.

As an employer, you might also find yourself dealing with issues of conflicting holiday requests from staff. Strive to balance holiday requests against the operational needs of your business. Staff will have to accept that they can’t all take the same time off!

Religious Sensitivity. There is no way around the fact that, for many, the holidays are rooted in religious traditions.  Christmas, Hanukkah, and Kwanzaa are all reasons to celebrate.  But, keep in mind that not everyone observes those traditions. For example, Muslims and Jehovah’s Witnesses do not participate in those celebrations. Employers would be wise to consider various options to minimize hard feelings.  Make sure that gift giving and holiday parties are voluntary in nature so that those who choose to abstain from celebrating for religious or cultural reasons are not made uncomfortable.  Also, employers should be conscious of religious symbols or phrases in the workplace.

Don’t let the worries of liabilities or risk keep you from enjoying the season! You can celebrate without overstepping the boundaries. By ensuring that some of these eventualities have been considered and prepared for, everyone can relax a bit as the year winds down.

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