Yearly Archives: 2006
Federal Estate Taxes and Life Insurance: Choose the Owner and Beneficiary Carefully
Who should be the owner and beneficiary of your life insurance policy? The answer depends on tax and property considerations. A life policy is issued to an “applicant” who may be the insured, a spouse, a trustee of a trust, or another person having an… Continue reading
Signing Papers for a Corporation
One of the advantages of doing business in the corporate form is limited liability – as a general matter, liability for contracts and damage claims is limited to the assets of the corporation, thereby shielding the assets of its shareholders from such claims. If you… Continue reading
The “Good” Divorce
In divorce matters, we sometimes see conduct that is needlessly destructive to the divorcing spouses and their children. Divorce is an unhappy reality and the number of divorces continues to grow. Couples must try to keep the negative fallout of the process to a minimum… Continue reading
The Truth About Notarization
Many people believe a notarized statement or document is more likely to be true or accurate. Not necessarily.Notarization simply means that a notary public (a state officer) witnessed the named person sign the document or statement. Notarization does not mean that the contents of the… Continue reading
What is Confession of Judgment?
Confession of judgment” is an agreement by a party to a lease or promissory note that in the event of a default, the other party, usually a landlord or lender, may proceed to the county courthouse, declare a default and enter judgment immediately in an… Continue reading
Employee Handbooks
Owners of small to mid-sized businesses often ask whether they should have an employee handbook. The benefits of a well-written handbook are many.While there is no law that says you have to have one, failure to have a handbook leaves an employer open to potential… Continue reading
Consideration of the Living Will?
In 1992 Pennsylvania adopted a law which permits “advance directives” by each of us in the event that we become terminally ill; the somewhat contradictory term that has evolved to describe such a direction is “living will”. Each person can direct that no artificial means… Continue reading
Taxpayer Relief Act of 1997
This past summer, President Clinton signed the Taxpayer Relief Act of 1997, which contains substantial changes in income, excise, estate and gift taxation. The name of the Act is more than appropriate, and a few of my partners are lobbying for an annual tax relief… Continue reading
Mom, Apple Pie, and Litigation for Free!
You are sitting in your living room in a placid state when the bell rings; it’s the county sheriff, and he serves you with a complaint from your next-door neighbor, alleging that last summer’s addition to your garage has caused a flood in his basement,… Continue reading
What Every Landowner Should Know About Adverse Possession
Few areas of law retain so many of the quirks from the law the American colonists brought over as the law of real property. Property law can be traced back hundreds of years, and many aspects of the law have changed little over the years.… Continue reading