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Benkelman, Nebraska 69021 Legal Articles

The borrower may be referred to as the maker, obligor, payor, or the promisor. The borrowed money is called the principal. The lender may be called the payee, oblige, or promise. The note usually includes...     read more


Your estate may be subject to inheritance tax, estate tax, state and federal tax statutes, and a host of exemptions that can pass more of the estate to inheritors of your choosing. What are the differences...     read more


Learn about the best ways to get the attention of prospects. Find ways to efficiently satisfy current tenants. Protect yourself from legal challenges or charges of discrimination. If you don't put much...     read more


Advantages: Limited Personal Liability and Exposure One advantage of an LLC is the limited liability shield, which protects the personal assets of its members. Creditors, typically, cannot hold members...     read more


You should draft an operating agreement for your LLC that spells out the details of the business arrangement, including members' percentage ownership, roles, rights and responsibilities. The LLC structure...     read more


Bypass living trust: This can be used for married couples with a combined estate that can surpass the estate tax threshold. Special Need Living Trust: Leaving a property to someone with disability. ...     read more


Don't settle scores with a will It can be a big mistake to favor one child over the others when you're leaving property, even if you're trying to correct past financial inequities. If you really feel...     read more


Know your state's requirements. Each state has different requirements as to the legality of a last will and testament. The standardization of these conditions was drafted by the National Conference of...     read more


Sounds pretty straightforward. But what happens if one or both parties don't understand the details of an arrangement, or decide that the arrangement isn't fair, or simply don't honor the arrangement....     read more


Life Prolonging Medical Care At the end of your life, you will have options regarding life prolonging treatments including cardiopulmonary resuscitation (CPR), blood transfusions and blood products,...     read more


Nothing kills romance faster than the word pre-nup. On a practical level, with almost half of all marriages ending in divorce, a prenup may be an insurance policy in case things don't work out long term. Marriage...     read more


A Living Trust protects your privacy, saves you money, eases the burden of estate administration on your family, and most importantly, allows you to establish a "financial parent" who will take care...     read more


Unlike other property deeds, a quitclaim deed contains no title covenant. It cannot offer warranty to the grantee as to the status of the property title. At the time of transfer, the grantee is entitled...     read more


How to Create a Last Will and Testament A sound mind and a legal age are the requirements for any person to create his or her own will and testament. Other than these, additional requirements may vary...     read more


How is a Deed different from a Sales Contract? A sales contract is a promise to convey property in exchange for money. A deed is not a promise to convey, it is the conveyance itself. A deed contains...     read more


Living Will Also known as health care declaration, a living will is a document that lets you declare the type of medical care should you do or do not want to receive if you are no longer able to communicate...     read more


In some states each party is required to have an attorney and in some states you don't need a lawyer to create a prenuptial agreement. A prenup must be in writing to be legally valid in every state. It...     read more


Many states have standard contracts for the sale of real estate. Many real estate transactions are conducted with the help of a lawyer. However, please make sure that you actually read everything you sign....     read more


A durable power of attorney for finances can be drafted so that it goes into effect as soon as you sign it or you can specify that the power of attorney does not go into effect until a doctor certifies...     read more


In many cases, it's a good idea to have a bankruptcy attorney. However, many petitioners file for bankruptcy without a lawyer. Some represent themselves in bankruptcy because they cannot afford the lawyer's...     read more


You can also get orders for: 1) protection from abuse; 2) establishing paternity; 3) custody and visitation; 4) divorce; and 5) modification of an existing child support order if circumstances have changed....     read more


Hiring a divorce lawyer offers many advantages: 1) they know the law and stay up to date on changes in divorce law; 2) they know how and when to file petitions and motions with the court; 3) they have...     read more


A limited liability company (LLC) combines the simplicity of pass-through taxation with the limited liability that comes with corporations. The pass-through taxation works as though the profits and losses...     read more


Newlyweds, new parents, homeowners, and even people without significant assets should write a will. What you own is yours and should go the loved ones or charities of your choice. At 12Law.com, you can...     read more


Entrepreneurs are the lifeblood of the American economy. Small businesses make up 99% of all businesses, employ half of all private sector employees, and have generated two thirds of new jobs in the last...     read more


What is a living trust? A Trust is an agreement whereby one person called the trustee can hold legal title to property for another person called the beneficiary. Having your own living trust and be the...     read more


A probate lawyer is an estate or a trust lawyer that can help manage the filing of the last testament or will of a deceased individual. Probate attorneys can also help create a last will and testament...     read more


You may also have the ability to lower your asking price by up to 6 percent to comparable listings in your community to help sell your house faster. Roughly 13 percent of real estate transactions today...     read more


These instructions may be used during "pre-hospital" and "out of hospital" cases where you do not want to be revived through any invasive emergency techniques like cardiopulmonary resuscitation (CPR) or...     read more


As part of an estate plan, creating this document can ensure that the part or parcel of the properties of the departed can go to the designated person whom he or she wishes to inherit the assets and property....     read more


The most common reason for a FSBO transaction is to avoid paying a large real estate commission when selling the property. By not using a real estate agent, the seller assumes all the responsibilities...     read more


The Most Important Estate Planning Documents • Last will and testament. This is a common estate planning method to transfer properties to beneficiary after a person dies. Though it is inexpensive, a will...     read more


A substantial amount of property can be bequeathed or given out tax -free because most estates have no obligation to pay federal estate tax or gift tax. This federal gift tax is also known as unified gift...     read more


Nearly half of all marriages ended in divorce and almost one-quarter of all children were born to unmarried parents in the US. Most of the children who live in single-parent families have a legal right...     read more


In an uncontested divorce, a husband and wife can create their own divorce settlement agreement by mutual consent. Divorce settlement agreements can be complex, so read on to learn about some common questions...     read more


Do I need a written lease agreement? Yes, it is always a good idea to get a written lease agreement. Although, most of the time, oral agreements made between tenant and landlords regarding the use of...     read more


Prenups offer predictability and marriage and the future can be unpredictable. If you've been through a terrible divorce in the past, asking for a prenup may be a no brainer. If you have children from...     read more


Q: Will a quitclaim deed release me from the mortgage obligation? We held equity loans on two separate properties and during our divorce, each property was signed off to its respective owner using a quitclaim...     read more


Q: Can I refuse to hire people who smoke? A: No. You can ban smoking during work hours; however you cannot prohibit the use of lawful products during nonworking hours. Q: May I call an applicant's...     read more


What is a living trust? A Living Trust is an arrangement where a trustee is assigned to hold legal title over the property of another person or beneficiary. You can be the trustee of your own living trust...     read more


Your signature is one of the most important state requirements for a Health Care Directive. You can sign it or let someone sign on your behalf. The requirement for notarization and having witnesses sign...     read more


But Estate Planning can also be a source of disagreement among family members. In order to reduce family strife, proper estate planning should be done to make sure your desires regarding the family estate...     read more


Personal promissory notes are the most common form of note payable and can be used when lending or borrowing money from friends or family, or to document the intended purchase of personal belongings such...     read more


Why Should I form an LLC? An LLC can protect the assets of its members by limiting the liability for acts and debts of the business. An LLC also provides pass-through taxation, meaning that taxes are...     read more


Child maintenance is paid directly to the custodial parent (not the child) for the care and support of the children of a relationship that has been terminated. A parent has the same duty to pay child...     read more


There are different types of bankruptcy, referred to as "chapters" because of their chapter location in the bankruptcy laws. For example, Chapter 7 refers to the seventh chapter in the Bankruptcy Codes....     read more


Forming a Corporation For a corporation to exist, "Articles of Incorporation" are filed with the Secretary of State. In some states, this document is known as "Certificate of Incorporation" or "Certificate...     read more


Bankruptcy is imposed by a court order, usually initiated by the debtor. It is a long standing component of American law for an individual to file bankruptcy in order to obtain a fresh start. There...     read more


With the existence of a medical health care document, your doctor and other health care providers will comply with your instruction as set out in the document. They are generally required to follow it...     read more


When making a durable power of attorney for health care, common choices for health care agent are the spouse, relative or close friend. Trust should be absolute when making this choice. This person will...     read more


That preparation can define the moments when your loved ones, devastated by their loss, will still be speaking to each other after you are gone. Making a will or any type of estate planning documents,...     read more


Probate involves inventorying and appraising the property, paying debts and taxes, and distributing the remainder of the property according to the will. The probate attorney fills in forms and keeps track...     read more


1. Set the stage. To make this unpleasant process go as smoothly as possible be cordial and reasonable in all dealings with your spouse. Pay attention to your tone of voice, and body language. This will...     read more


One drawback is that all partners are subject to personal liability for all debts, losses, and liabilities of the partnership. Each partner is also generally liable for every other partners' actions on...     read more


An employee manual also communicates important state and federal laws surrounding employment. It puts these items into a clear and concise written document. The employee handbook or manual needs to clearly...     read more


What a will won't do includes the following: Bequeath Certain Kinds of Assets or Property. You cannot use your will to leave: • Property that is in the living trust • Life insurance policy proceeds...     read more


The unexpected can happen when you least expect it. Living wills can indicate your preferences and will be the hallmark of your treatment or end-of-life-care. This is important especially if you are in...     read more


It is estimated that more than $20 trillion will be transferred to heirs in the next 50 years — the largest transfer of wealth in U.S. history. People are living longer. Health care costs for seniors...     read more


Partnerships have two basic types, a general partnership and a limited partnership. A general partnership is the simplest and less costly co-owned business structure to create and maintain. In a general...     read more


This serves as a parental contribution for the child's basic living expenses, such as shelter, food, clothing, health care, and education. When a State court orders the noncustodial parent to pay child...     read more


How to Form a Corporation • File an "Articles of Incorporation" at the corporate divisions in the secretary's office of your state government. • Create a corporate "bylaws" that states the basic rule...     read more


Land contracts are security agreements between a seller, known as a Vendor, and a buyer, known as a Vendee. The Vendor carries the financing for the Vendee, which may or may not contain an underlying loan....     read more


A rental of lease agreement should include: • Names of the tenants and the landlords • Location and apartment number of the rental unit • Occupancy terms of the tenant • Payment for the rent • Security...     read more


How to Form an LLC File "Articles of Organization" with your state government including the name, address, and phone number of the business, and the name of the person who is the "registered agent" of...     read more


Premarital agreement is a newer term used to refer to this document. In some states it is called an antenuptial agreement or simply a contract. If contact or agreement is signed after marriage it is known...     read more


Estate Planning doesn't have to be hard or expensive or intimidating. Just a few simple steps: Catalog what you own, make a will and create a few legal documents (with the help of 12Law.com) and review...     read more


This planning involves writing down the wishes and the treatments you desire should anything happen to you. You should also assign someone you trust to oversee your needs and follow the stipulated requirements...     read more


The POLST form is almost the same as the Do Not Resuscitate (DNR) order in that they must both be signed by you and your doctor and they both contain instructions on what and what not to administer during...     read more


Advantages of a Partnership Structure • Profits go straight into the partners' pockets, providing for easier tax reporting • Partners can combine their individual talents to complement each other...     read more


Engaged couples may be on cloud nine with wedding planning and honeymoon prospects and the very idea of a prenup may seem like the ultimate romance killer. But just because divorce isn't foreseeable doesn't...     read more


By contrast, sole proprietorships, partnerships, and limited liability companies (LLCs) are pass through entities that report their business income profits or loss on the personal income tax returns of...     read more


How Partnership Income is Taxed The IRS does not consider partnership to be separate from the owners when it comes to tax purposes, rather, they are considered "pass through" tax entities. All profits...     read more


Single-Owner LLC For tax purposes, the IRS treats one-member LLCs as a sole proprietorship. This would mean no taxes for the LLC and no filling of income tax returns with the IRS. Being the owner of...     read more


You've created a living will or an advance health directive. Excellent. Don't stop there. You have to make sure that others know about the existence of these documents. Putting your Advance Health...     read more


Medicaid can pay for nursing home costs for senior citizens with few assets and low income. In some cases, this applies to senior citizens who have already spent almost all their savings paying their residential...     read more


An LLC offers several key advantages for new businesses: 1. Chart Your Own Course As the owner of a business, you want to carve out your own place under the sun by running your own show. An LLC can...     read more


The Fair Labor Standards Act mandates the federal minimum wage and includes requirements for overtime and how many hours employees can work. You also need to make sure your compensation structure and workplace...     read more


Landlords are likely to have tax due to depreciation, which is a non-cash expense. Residential buildings are depreciated over 27.5 years and commercial buildings over 39 years. However, your ability to...     read more


Expenses of Operating a Business Starting a business involves expenses on utilities, office supplies, repairs and advertising. This can be deducted as current business expenses as long as you already...     read more


When opting to choose a living trust as part of your estate planning, it would help to know the basic facts about a revocable living trust. Twelve Things to Know 1. What is a revocable living trust? Living...     read more


The U.S. tax rules support charity and philanthropy with tax benefits. If you itemize deductions on your income tax return, you can simply deduct the value of gifts to tax-exempt charitable organizations....     read more


You cannot have illegal reasons included in your agreement meaning that you can't stipulate anything that breaks the state requirements. For example, you cannot place conditions that terminate child support...     read more


Option 1: Will-Based Estate Plan All essential details of your last will and testament will be outlined in the will-based estate plan. It will provide information including the person to be put in charge...     read more


A living will or health care declaration is often paired with a power of attorney for health care. In the power of attorney for healthcare, you choose a person to act as your health care agent and who...     read more


The agreeing parties consent not to disclose information covered by the agreement. This is to protect confidential and proprietary information or trade secrets; as such NDA creates a confidential relationship...     read more


The person who gives the authority to for the other person to act on his behalf is the donor, grantor or principal. The one who has received the authority is the agent or the attorney-in-fact. Previously,...     read more


Couples can spell out the financial responsibilities of each should there be a divorce, they can articulate specific expectations of each during the marriage (and remedies should these commitments not...     read more


Advance Directives Advance directives are important written instructions that can help reduce confusion or disagreement when you are unable to give your medical preferences. Your family and doctor will...     read more


A good goal for parents is to make sure they have up-to-date estate plans in place. It doesn't have to be too complicated - a fairly simple will should ensure that your heirs don't have to grapple with...     read more


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