Deciding Between Land Contract vs Lease-to-Own Contract
Is it better for a buyer or seller to purchase a property under a Land Contract or a Lease-to-Own Contract? Under a Land Contract, many states have laws that provide at least some level protection to a...
View ArticleWhat are the Fees to Create a Gun Trust?
There are no local, county or state filing fees required to create a Gun Trust. But a “Tax Stamp” must be paid to the ATF for submitting an application to transfer a regulated weapon. All transfers of...
View ArticleShould a Durable Power of Attorney be in Effect Only at Incapacitation?
Standard Legal’s Durable Power of Attorney document is effective regardless of the current physical or mental condition of the Principal. Here’s why. Assuming that the Principal has the proper mental...
View ArticleCan I File Bankruptcy on my Business?
While individuals can file both Chapter 13 and chapter 7 cases for themselves, there are limitations in filing a bankruptcy case on behalf of a business. Bankruptcy cases for a Limited Liability...
View ArticleDoes Standard Legal Offer a Springing Power of Attorney Document?
Standard Legal does not offer a “springing” Power of Attorney document. We made this decision with clear intent, because we believe there are too many variables that go into the making of an effective...
View ArticleWhat Happens to a Land Contract When the Buyer Dies Without a Will?
State law prevails in a situation when the Buyer in a Land Contract dies before the completion of that contract and has not made a Last Will and Testament. Absent language in a Land Contract to the...
View ArticleHow Do I Ensure My Trust Passes to My Beneficiaries After Death?
A Trust does not transfer to a Beneficiary upon the death of the Grantor. Instead, the property or assets of the Trust transfer to the Beneficiary. The Trust documents direct the transfer, sale or...
View ArticleIf My Name is on the Deed But Not the Mortgage, Am I Financially Responsible?
If a person’s name appears on the Deed of a property but not on the Mortgage against that property, there is the potential for financial loss — but not responsibility. A Deed is a document that...
View ArticleWhat Are the Steps to Adding a Regulated Item to a Gun Trust?
Because the ATF needs to provide approval to add NFA-regulated items into a Gun Trust, there is a three-step process that must be completed in a singular order. The Grantor (the person preparing the...
View ArticleCan an LLC Own Other Companies?
Can a Limited Liability Company own other companies, i.e. be set up as what people often call a “holding company”? An LLC is owned by its members. These members can be individuals or other business...
View Article