Many clients’ wish to designate to whom their children will go to in the event that they pass away and then put that designation in their Last Will and Testament. Its important to understand that there is a difference between custody of a child and being a child’s guardian and there are significant differences in how the Court system handles those issues.
Foreclosures, excessive debts and nagging collection phone calls are a person’s worst nightmares come true. The stress of mounting debt and a lack of financial stability places stress on the family budget, and makes it appear that is now way out. Is there a way out? Filing bankruptcy in many cases offers the perfect solution for your financial problems.
Grandparents often play a vital role in the upbringing and care of their grandchildren. However, sometimes parents try to deny grandparents access to their grandchildren for a variety of reasons. When this happens, it is important to know your rights under Ohio law and what you can do to enforce those rights.
What is it and how does it affect you?
For the past 220 years the United States has operated under the "first-to-invent" system, which implies that the first person to invent something receives the patent protection for that invention. The United States has been the only country to utilize this system with relation to patents.
Guidelines for Businesses
The new Ohio use tax amnesty program was passed in early July 2011 as part of the new Ohio budget. It is scheduled to start October 1st and end May 2013, which will give businesses more than a year to pay the use taxes if they haven't already been paid.
By Larissa Martin
Do you have a firm understanding of the accountability standards and requirements of tax-exempt organizations? Would you like to develop a more thorough understanding of establishing and operating tax-exempt organizations or the ability to advise your clients more effectively in this process?
Jeffrey J. Fanger will be presenting at the National Business Institute’s 2011 Fall Seminar – “Tax Exempt Organizations from Start to Finish” in Independence, Ohio.
By Larissa Martin
The IRS has released a new form that tax-exempt organizations will use to request determinations (other than initial exemption applications) about their tax-exempt status. In addition to foundation status issues, organizations will use Form 8940, Request for Miscellaneous Determination, to obtain advance approval of certain activities and exemption from Form 990 filing requirements.
Intended or Not, Soon “Co-owners” = Partnership
If you own a business with another person and have not formed a separate entity (such as a Limited Liability Company), under the new Ohio Revised Uniform Partnership Act (“RUPA”) you are likely “partners” with specific rights and responsibilities.
Transfer on Death Deeds Save Money, Headaches
Did you know that real property in Ohio can be transferred directly at the property owners death, avoiding probate, by creating a Transfer on Death Deed? A Transfer on Death Deed is simply a real estate deed that allows real estate to be transferred on the death of the property owner to the person designated on the deed.
Jeff Fanger Instrumental in This, Other Changes with Secretary of State
A new major benefit to non-profit organizations in Ohio was enacted when House Bill 160 became law in June. Under the new provisions, Ohio now will recognize the formation of nonprofit Limited Liability Companies, avoiding the increased costs and reporting requirements of a corporation in order to gain corporate protections.