WHAT DOCUMENTS YOU NEED TO START A BUSINESS IN ALABAMA

WHAT DOCUMENTS YOU NEED TO START A BUSINESS IN ALABAMA Starting a business is a thrilling and overwhelming experience. It is incredible to go from having a great business idea to making a functioning business plan for it to actually turning it into a reality. It is also a very complicated process. It is difficult for just one person to handle everything they need to do for it, and especially so if it is their Read More

5 SIGNS YOUR BUSINESS MIGHT BE IN TROUBLE

5 SIGNS YOUR BUSINESS MIGHT BE IN TROUBLE The New Year is a time for reflection and resolution. For many business owners, it is a time to check your books and decide what business practices to leave behind in the previous year. January is the least busy month for many businesses, as customers often take a post-holiday break from spending. For some business owners, this month may be the first chance they get to Read More

MINOR VS. MATERIAL BREACH OF CONTRACT

MINOR VS. MATERIAL BREACH OF CONTRACT Thorough and well-negotiated contracts undergird the operations for successful businesses in Alabama. As a business owner, you expect your clients to pay you for products or services rendered, just as you expect your vendors to supply you with raw materials for which you pay. As long as you have written agreements that layout expectations for each side, you have a good chance Read More

SIMPLIFIED PROBATE PROCEDURE IN ALABAMA

SIMPLIFIED PROBATE PROCEDURE IN ALABAMA Nobody looks forward to the legal proceedings and tying up loose ends after a loved one dies. Soon after the funeral, the survivors of the decedent must initiate the process in probate court (unless the decedent legitimately had no assets that must pass through probate court). Depending on an estate’s overall value, the process of probating an estate can get quite Read More

WHAT HAPPENS WHEN YOU PASS AWAY WITHOUT A WILL IN ALABAMA?

WHAT HAPPENS WHEN YOU PASS AWAY WITHOUT A WILL IN ALABAMA? Even though many people in Alabama pass away each year without any estate planning documents in place, that doesn’t mean there isn’t a plan for each deceased individual. The plan for these decedents, simply, is the state of Alabama’s best guess at what they would want if they did draw up a Last Will and Testament. This is referred to as the state’s Read More

WHEN SHOULD YOU UPDATE YOUR ESTATE PLAN?

WHEN SHOULD YOU UPDATE YOUR ESTATE PLAN? The bare minimum of an estate plan should be to designate where, and to whom, your assets go after you pass away. Beyond that, there are countless purposes and benefits of having a thorough plan for your estate, but you need to have this basic principle of estate planning be true for your situation: if you were to pass away tomorrow, you know exactly what would happen to Read More

AN OVERVIEW OF SPECIAL NEEDS TRUSTS

AN OVERVIEW OF SPECIAL NEEDS TRUSTS The world of estate planning contains many different types of documents that you can use to hand off your assets and property to your loved ones after you pass away. Additionally, there are many different types of trusts that may prove useful depending on your situation. One type of trust available is what’s called a special needs trust, which is used to financially help those Read More

CONTESTING A LAST WILL AND TESTAMENT

CONTESTING A LAST WILL AND TESTAMENT After a loved one passes away, all you want to do, understandably, is take time to grieve your loss and learn to live in your new normal while trying to cherish the good times you shared. Unfortunately, the decedent’s estate (assets and property) must be taken care of; this often entails the reading of the Last Will and Testament. In normal circumstances, this means that you Read More

WHAT IS AN ADVANCE HEALTHCARE DIRECTIVE, AND WHY DO YOU NEED ONE?

WHAT IS AN ADVANCE HEALTHCARE DIRECTIVE, AND WHY DO YOU NEED ONE? It is hard to know exactly what you need in your estate plan. Most everyone needs a Last Will and Testament (for many reasons), but for some people, trusts are better options. No matter how large your estate is or how many beneficiaries you have, everyone can benefit from having a document referred to as an “advance healthcare directive.” An advance Read More

AN OVERVIEW OF BUSINESS SUCCESSION PLANNING

AN OVERVIEW OF BUSINESS SUCCESSION PLANNING After years of successfully owning and operating your small business, you might not be able to imagine a life without your days being taken up by your company. If you’re truly lucky, you merged your passions into your entrepreneurial dreams and created something that you enjoy managing. The truth is, though, that one day, you will not be able to be your company’s Read More