Yearly Archives: 2008
Rental Losses for Real Estate Professionals
Many of you will read the title of this article and think, “but I am not a real estate professional.” While you may not think of yourself as a real estate professional, the IRS may consider you one based on your real estate activities. Recognizing… Continue reading
Latin Lovers
We sometimes hear the phrase habeas corpus used in connection with criminal court cases but few people actually know what the words mean. Historically, habeas corpus was a type of writ (court order) which required the bringing of a party or prisoner before the court… Continue reading
A Child Custody Alternative: The Parenting Coordinator
Child custody disputes are rarely resolved to the full satisfaction of both parties to a divorce; more often than not, neither party is completely happy with the final order or settlement agreement achieved by the parties. It is the nature of compromise. Since it is… Continue reading
Queen’s English – Some Off-Beat Words You May Encounter
From time to time we encounter words whose meanings may be surprising or elusive; some illustrations (pronunciations are in parenthesis with accented syllables in capital letters): Akimbo (uh-KIM-boh): With hands on hips, elbows bent outward (Benito Mussolini in World War II). Avuncular (un-VUN-kyuh-ler):… Continue reading
Securing Promises to Pay or Perform
Whether you are selling goods or services, loaning money, or entering into other contracts requiring payment or performance by the other party, there is always a risk that you will be left “holding the bag” if the other party does not pay or perform… Continue reading
For the Elderly: A Reverse Mortgage?
As you approach retirement, the realization that your estate’s assets have limitations set in. Many retirees are living in homes they own with little or no debt, and the question is: is there a means of living in the residence through the golden years while… Continue reading
Executing Against and Garnishing Assets
After a judgment is obtained against a debtor, the creditor is sometimes left with the more difficult task of collecting on that judgment. The creditor’s major weapon is the ability to execute on a judgment, which is the basic and familiar process of officially instructing… Continue reading
Five Tips to Avoid Bad Debts
As a business person, what would you rather do: sell goods from the shelf and not get paid for them, or not sell them at all? In theory the answer is easy, but in practice the issue becomes more complicated. You rarely know in advance… Continue reading
Judgment without a Trial: The risks and rewards of Confession of Judgment
A “Confession of judgment” is an agreement in which one party agrees to let another party enter judgment against him or her in the event of a default. Confession of judgment can only occur in certain transactions and usually is found in commercial leases and commercial… Continue reading
Steps to Insure Against Vendor/Supplier Failures
Vendor (seller) defaults and failures can be as serious a problem in economic downturns as customer defaults and failures. As in managing customer relations, there are a number of steps that can be taken to prevent your vendors’ financial problems from becoming your problem.… Continue reading