Middletown, Ohio Legal Blog

Considering a co-owner when starting a business

Taking the step to open one's own business is a major decision. Some Ohio residents may dream of starting their own company for years before moving forward with plans, and others may never feel that the time is right to follow this dream. In some cases, it may help individuals to consider the idea of having a co-owner for their business.

Co-ownership can certainly have its pros and cons. Having more than one owner could help lessen the amount of stress that would otherwise be placed on one person by dividing the obligations necessary for starting and operating a business. The division of financial and legal obligations also means that individuals can divide the benefits that can come from operating a successful company.

Succession planning can be broken into manageable steps

Do you know what will happen to your business if you pass away unexpectedly? Do you have a plan for your business after your retirement? If you cannot answer these questions, you probably do not have a succession plan in place.Without a succession plan, it may be difficult for your business to continue beyond your retirement or unexpected death. Without clear direction, family members may fight each other for control of the business. Alternatively, there may not be anyone willing and qualified to step into your shoes. Neither option bodes well for the business.

Professional help is often useful for real estate deals

Most Ohio residents will move at some point in their lives. If they are moving as adults, they may have the obligation of ensuring that their homes are sold. Of course, real estate can be a tricky industry to navigate, and it is easy for simple mistakes to put deals at risk.

One mistake that sellers could make it not working with a real estate agent or working with the wrong agent. Trying to sell a home on one's own could set a person up for problems because he or she likely does not have the extensive knowledge necessary to understand how to complete a successful transaction. On the other hand, if a person chooses the first real estate agent he or she comes across, that agent may not have the particular experience or insight to make a transaction as successful as it could be.

Probate administration may involve selling real estate

When an Ohio resident is named as the executor of an estate, he or she has a number of steps to take in order to close the remaining estate. In some cases, probate administration may include having to sell real estate that the loved one left behind. This type of action can make settling an estate more difficult, especially if the executor does not have real estate knowledge.

Hopefully, the decedent will have created a will indicating what steps should be taken with remaining real estate. If the wish is that the property is sold, the executor will need to handle that task. However, if a will or other estate document addressing a house does not exist, the executor will have to follow state laws regarding the process of parting with a home.

GM requests to dismiss litigation over misrepresentation claims

When companies interact with substantial amounts of people, it is not unusual for some of those people to dislike certain companies or certain products. In some cases, the dislike may simply stem from personal preference of liking another company or product more, and dislikes in other cases may result from feeling as if a product did not live up to expectations. If a person feels particularly duped by a company, that company may wind up facing litigation.

Ohio readers may be interested in the fact that General Motors is currently involved in a lawsuit brought by a disgruntled consumer. According to reports, a man purchased a Chevrolet Bolt, which is a vehicle from GM's range of electric vehicles, and claims that the company misled him and other consumers when it came to how many miles the vehicle could travel on an electric charge. The man stated that though the information about the vehicle indicates that the Bolt has an electric range of 238 miles, the vehicle travels 100 miles less in cold weather. He filed suit on the basis that GM breached warranties and provided misleading information.

Are You Fuzzy on the Details of Your Estate Plan?

 

Estate planning may involve concepts that are easy to understand, but when it comes to execution, one article questions whether clients get lost in the details. Specifically, the article suggests that individuals rely too much on their estate planner to promote their interests.

Estate plans need to protect digital assets too

Estate planning sounds like a simple, basic concept. Protect your assets and lay out a plan for distribution after death. In practice, it gets a lot more detailed. Many people create a will or other estate plan early in life - and you should. But life changes, and the plans need to change to keep up.

It's hard enough for most people to update their will when they get divorced, remarried, adopt a child or experience another significant life event. Life events, though, are few and far between when compared to the ever-changing digital world we also live in.

Drive Your Business Like Your Kids Are In The Back Seat

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Imagine you are shopping for a vehicle. There are many safety options to choose from. You are essentially in control over how safe you want to be.

Do you want seat belts? Anti-lock brakes? Front air bags? Passenger air bags? Rear air bags? Side curtain air bags? Air bags in the seat? Air bags in the seat belt? Air bags in the door? Automatic braking? Automatic steering? I'm sure there are even more safety options.

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