Monthly Archives: January 2016

A Business Lawyer in Lee County NC Can Help Your Business Succeed

Do you have a great business idea?  In order to turn your business dream into a reality, you will need the assistance of a good business lawyer in Lee County North Carolina.  Practically every choice a business owner makes is fraught with legal implications.  With the advice and guidance of a business lawyer in Lee County North Carolina, you can make better decisions to ensure your business is a success.

If you are a start-up entrepreneur, your first step is to decide if you want to form your business as a sole proprietorship, partnership, corporation, limited liability company, etc.  An experienced business lawyer can advise you on the advantages and disadvantages of various types of business formations so you can make an informed choice about what will work best for your company.

Once your business becomes operational, you will have to deal with numerous types of contracts with clients and suppliers of all kinds.  You will need a business lawyer to review, draft and clarify to you contract provisions in order to protect your interests as well as avoid legal problems down the road.

Other legal concerns that a business lawyer can assist you with include:

  • Business Licensing
  • Commercial Leases
  • Intellectual Property
  • Breach of Contract
  • Collections Issues
  • Employment Law
  • Business Disputes 

Retaining ongoing legal advice and assistance from a business lawyer can help you and your business mitigate liability to avoid potential lawsuits.  However, in the event that that a business dispute does result in litigation, a business lawyer familiar with the intricacies of your business and the details surrounding the legal claim will be an invaluable asset in helping you win your case.

If you are a North Carolina business owner or are planning to be, contact a local business lawyer for a consultation to discuss the legal needs of your business.

How a Wills, Trusts and Estates Attorney in Broadway NC Can Help

Estate planning involves creating a strategy for the disposition of your property after your death.  Why is estate planning important? If you do not currently have a will in place, your estate assets will be passed according to North Carolina intestate succession laws upon your passing, and the result may not be what you would have expected or wanted.  A wills, trusts and estates attorney in Broadway North Carolina can help you devise an effective estate plan to conserve your assets for your loved ones.  Consult with a wills, trusts and estates attorney in Broadway North Carolina and start planning for the future today.

In the event that you pass away without a will, your property will pass to your next of kin according to North Carolina intestate succession laws.  A surviving relative must outlive you by 120 hours in order to inherit your property under these laws.  Your family members are entitled to inherit their intestate share of your property even if they are not citizens or legal aliens in the United States.  If you do not have a spouse, children, grandchildren, parents, siblings, nieces, nephews, or cousins, your property will “escheat”, and pass to the state in the absence of a will stating otherwise.

Generally, only assets that you own in your name alone will pass according to intestate succession laws.  However, there are some assets that directly transfer to a surviving co-owner or beneficiary, and therefore are not affected by these laws.  Such assets include:

  • property held in a living trust;
  • life insurance proceeds;
  • funds in an IRA, 401(k), or other retirement account;
  • securities held in a transfer-on-death account;
  • payable-on-death bank accounts; or
  • property co-owned as a joint tenancy or tenancy by the entirety. 

Contact a local wills, trusts and estates attorney for more information about North Carolina estate planning.

Do You Need a Probate Attorney in Sanford NC?

Probate refers to the legal process of administering the estate assets of someone who has died.  If you are the administrator or personal representative of a deceased loved one’s estate, you may find the North Carolina probate process complex and overwhelming at times.  You will most certainly need the assistance of an experienced probate attorney in Sanford North Carolina to guide you through the process.  A probate attorney in Sanford North Carolina can provide you with the advice and legal representation you need to appropriately handle the administration of your loved one’s estate.

Not all estate assets are required to go through the probate process.  In North Carolina, some assets that can be transferred outside of probate include:

  • assets the deceased person owned in joint tenancy;
  • real estate the deceased person owned with his or her spouse in “tenancy by the entirety”;
  • retirement accounts for which the deceased person named a beneficiary, or payable-on-death bank accounts;
  • life insurance proceeds or pension benefits that are payable to a named beneficiary; and
  • assets held in a revocable living trust.

If the value of an estate is small enough, the state of North Carolina offers the option of an expedited procedure to transfer the assets of an estate without having to go through formal probate.  This requires the filing of a completed Affidavit For Collection Of Personal Property Of Decedent with the clerk of the superior court in the county where the deceased individual resided.  Once filed, a certified copy may be presented to institutions holding the estate assets, and new title documents will be issued.  If a probate proceeding had not already been initiated, the person filing the affidavit will receive the personal property of the estate, pay any estate creditors, and then distribute the remainder of the estate assets to the appropriate heirs.

Why Both Buyers and Sellers Need a Real Estate Attorney Sanford in NC

Whether you are planning to buy or sell real estate in North Carolina, you should make your decision wisely, since there are legal implications to every real estate transaction.  It is advisable to consult with a real estate attorney in Sanford North Carolina before you make a deposit or sign any documents related to the purchase or sale of property.  An experienced real estate attorney in Sanford North Carolina will have the specific expertise you need to protect your legal interests in your real estate transaction.

A contract for the sale of real estate in North Carolina must be in writing in order to be legally enforceable.  As long as the written real estate contract includes a dated offer, the purchase price and the signatures of both the buyer and seller, it is legally binding.  Consequently, it is essential to have your real estate contract reviewed by a licensed North Carolina real estate attorney to in order to avoid potential problems down and ensure that the provisions of the contract correspond to your expectations.

A common issue that often arises in real estate transactions relates to the returning of earnest money deposits in the event that any condition of the contract is not satisfied as agreed.  Unless your real estate contract states otherwise, state law requires the broker to retain the earnest money or deposit it with the Clerk of Superior Court until a written release from both the Seller and Buyer has been obtained, or until the court orders disbursement.

All material aspects of a North Carolina residential real estate closing must be supervised by an attorney.  Only a North Carolina licensed attorney may offer an opinion related to title or answer any questions at the closing table.  Contact a local real estate attorney to represent you in your real estate transaction.