Digg it UP - Legal

When Parent and Child Reverse Roles
When we start off in life, our parents provide love and nurturing, as well as the necessities of daily life. As time passes, we grow into adulthood. Our relationship with our parents becomes one of equals, with each providing love and nurturing for the other, while both are self-sufficient. Often, parents reach a stage in their lives when they are no longer self-sufficient, typically due to advanced age or illness.While we bear the emotional responsibility with love, at times caring for our parents can work an economic hardship at a time that we are raising children of our own. Luckily, under such circumstances, the government gives us a break.Your parent is your dependent if you provided more tha

us one that might apply is if you are a licensed professional. Doctors, lawyers, accountants, real estate brokers and dentists, for example, are always personally liable for acts of malpractice. If you are a licensed professional, make sure you get the proper insurance. Also, there are certain tax, environmental and securities laws that you can be held personally liable for if your LLC is in violation of those laws and you were the responsible manager.

Finally, you cannot use your LLC to engage in fraud or hide behind the LLC to protect yourself when you engage in fraudulent or unlawful acts. If you break the law or try to defraud others, the law will hold you personally accountable.

In summary, the LLC is a wonderful vehicle for providing Members with limited liability protection. But, in order to preserve that protection, you cannot just form an LLC and then forget it exists. Make sure you do the necessary things to honor your LLC as a separate entity and also know that the LLC should not be your sole means of protection- get insurance when it makes sense and always invest in the require

Are You Working ON Your Business or IN Your Business?
My good friend, Lenny Tumbarello, www.WeTooCanDo.com, gave me the idea for this article. It seems an associate of his sort of criticized him for working “IN” his business. He wanted Lenny to work “ON” his business. This fellow felt Lenny might be spending too much time doing things that could have been “outsourced” for a small cost - thereby freeing Lenny up to focus on the bigger picture, the stuff that would make his business bigger.I am very familiar with this concept. And I think it’s a valid thought process to go through. But you know, I think it’s often misapplied and overrated!In fact I think it may be a big part of what has allowed third world countries to grab a big piece of our economic

Mistake #1 Doing Business Before the LLC is Formed.

You are personally liable for any business activities or transactions that take place before your LLC is formed. A person can sue you years later for something you did today. If your business becomes successful, those early acts could cause you to be the subject of a personal lawsuit. Don't think it has not been done. With over 70,000 lawsuits filed a day, this world is filled with people and their predatory litigation attorneys looking for successful small businesses to attack.

Mistake #2 Failing to Actually Issue Ownership Interests in the LLC.

Many business owners create an LLC but never actually issue ownership interests (known as Membership Units) to the persons that are going to be owners of the LLC (known as Members). It can be easy for you mistakenly think that because you created the LLC, you are automatically the owner of the LLC. The fundamental premise of an LLC is that it is its own separate entity. When an LLC is formed by a state agency, it does not have owners. Membership Units or a percentage interest in the LLC must be issued to the persons who will be the owners. This issuance transaction should be in writing. The LLC Operating Agreement is the typical place where the LLC issues shares to Members. Make sure that after your LLC is formed, you complete this next step.

Mistake #3 Failing to Create a Management Structure.

An LLC needs to have a management structure. A management structure determines who has the authority to make decisions on behalf of the LLC. There are two management structures. A member-managed LLC is when the members automatically have the rights to operate and manage the LLC business. The second is a manager-managed LLC which creates a corporate type structure. A Board of Managers is created and persons who are appointed to that Board have the authority to run the business. The best place to create a management structure is in the LLC's Operating Agreement. All LLC's should have an Operating Agreement as this agreement creates the set of rules for your LLC.

Mistake #4 Failure to Get Investment Obligations in Writing.

The LLC Acts of most states require that all agreements by a Member of an LLC to contribute money to the LLC must be in writing. An oral agreement is not enforceable under the law. If you are planning on starting a new business with other persons, you will likely get together and decide on how much of the business each of you will own and on what obligations each of you are agreeing to with respect to that business. Obligations usually include how much money you are each going to contribute to the business or what kind of services and time commitment each of you will devote to the business.

These conversations take place but in many multi-member LLCs, they are never placed in writing. Without a writing, any oral promises are not enforceable. If you issue Membership Units based on an oral promise and the Member fails to deliver, you cannot take back the Units.

Mistake #5 Thinking that an LLC is a Foolproof Layer of Liability Protection

Yes, it is established that a Member of a properly formed and maintained LLC is not liable for the debts, obligations and lawsuits of the LLC merely by being a Member of the LLC. But, in a realistic business context, persons who are Members are usually not passive owners of the LLC. They are also active managers and operators of the LLC business.

In today's litigious world, all businesses should be run through a limited liability entity such as an LLC. The LLC liability protection is a significant protection vehicle. However, the LLC layer of protection does not extend to all potential liabilities that can arise in the midst of running an LLC. Do your homework in performing the administrative and other tasks of your LLC and retain the proper professionals to advise you when appropriate. There are certain standards and formalities you need to meet or else you run the risk of being personally liable (this risk is known as piercing the veil risk).

The LLC laws do not cover personal negligence. Your LLC should always have insurance to cover these types of business related accidents. Do not ever think that the LLC is enough to protect you in these circumstances. Similarly, there are some laws that hold you liable regardless of whether you are operating through an LLC. The most obvious one that might apply is if you are a licensed professional. Doctors, lawyers, accountants, real estate brokers and dentists, for example, are always personally liable for acts of malpractice. If you are a licensed professional, make sure you get the proper insurance. Also, there are certain tax, environmental and securities laws that you can be held personally liable for if your LLC is in violation of those laws and you were the responsible manager.

Different Approaches To Finding A Loan
There are numerous ways to find loans that are right for you. Long gone are the days when we just approached our bank manager of many years standing and pleaded with him or her to lend us an amount of cash. It is not even necessary to trudge around the High Street these days to make comparisons across all of the major High Street banks. The internet has changed all that and, furthermore, there are now hundreds of additional reputable lenders as well as the more traditional High Street banks which means more competition and, consequently, even better deals for us, the consumer, as they all try to drive down the cost of their loans to remain competitive and get us to choose them as our preferred lender. Therefore

ust be issued to the persons who will be the owners. This issuance transaction should be in writing. The LLC Operating Agreement is the typical place where the LLC issues shares to Members. Make sure that after your LLC is formed, you complete this next step.

Mistake #3 Failing to Create a Management Structure.

Mistake #4 Failure to Get Investment Obligations in Writing.

Mistake #5 Thinking that an LLC is a Foolproof Layer of Liability Protection

Real Estate – Location - Stocks – Rotation
It seems everyone knows the basic rule for good real estate is “location, location, location. BUT is also seems the almost no one knows that the secret to successful investing in the stock market is “rotation, rotation, rotation”.When choosing a house in a neighborhood you may not want to buy the best looking one as an investment. Choosing one that is looking poorly might be better; however, the one thing any real estate buyer must become aware of is whether that particular area is rising in value, staying even or declining.If the real estate in a particular area is rising in value it will not make much difference what property is bought as the values in the entire area will rise – even of the mo

agreements by a Member of an LLC to contribute money to the LLC must be in writing. An oral agreement is not enforceable under the law. If you are planning on starting a new business with other persons, you will likely get together and decide on how much of the business each of you will own and on what obligations each of you are agreeing to with respect to that business. Obligations usually include how much money you are each going to contribute to the business or what kind of services and time commitment each of you will devote to the business.

Mistake #5 Thinking that an LLC is a Foolproof Layer of Liability Protection

Investing Internationally - Consider South Africa!
South Africa is one of the most sophisticated and promising emerging markets in the world. It is also one of the most advanced and productive economies in Africa.The country's remarkable ability to put centuries of racial discrimination behind it in favour of reconciliation was widely considered a social "miracle" and inspired similar peace efforts.Post-apartheid South Africa has a government comprising all races, and is often referred to as the "rainbow nation", a phrase coined by South Africa’s Nobel Peace Prize winner Desmond Tutu.South Africa seeks to attract real and growing international investor commitment and, at the same time, fully capitalise on the opportunities to bring about dy

ic business context, persons who are Members are usually not passive owners of the LLC. They are also active managers and operators of the LLC business.

Some Of The Most Overlooked Ways To Find Great Bargains On Ebay!
One of the best ways to find bargains on eBay is to know what items are hard to sell. These relatively hard to sell items on eBay can often be picked up at deep discounts, So by knowing what items are hard to sell, you might be able to pick up some really good deals.No brand name can potentially mean a bargain. There are thousands of items on eBay. Therefore when people search for items to buy, most people will search for items by a brand name. If the item does not have a strong brand name or no brand name at all, you can potentially pick up a bargain.Here are some items that are often sold without a band name:Art Work by unknown artists - You can pick up some great deals, and beautifu

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Trying to get your foot in the door of a company is often all you need to get your start. Sometimes though, this is the hardest part of all: convincing a hiring manager that you are worth bringing on board and affording this opportunity to. What can you do to help your cause?

One of the most significant website problems I needed to solve when creating and selling Ebooks online was a way to allow customers to automatically download Ebooks after completing their purchase on Paypal.

Paydayloans won't be a threat to your financial safety just as long as you adhere to the following tips. Dos and Don'ts for Use of Paydayloans to Keep You Financially Safe

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