Waiting on An Inheritance That May Never Come

For centuries, tradition and familial loyalty dictated that wealth was to remain in the family at all costs. The result was that even the family "black sheep" typically stood to inherit something when the family patriarch or matriarch died. There were practical as well as emotional reasons for passing down wealth. There were also a set of spoken, or unspoken, rules that potential heirs were expected to abide by in order to remain in line to inherit the bulk of the family fortune in most cases. Times have changed and along with them the likelihood of inheriting a substantial amount of wealth from elderly family members. There are a number of factors that may turn waiting on an inheritance into a wait for something that never comes.

- Families do not work together as much as they once did. For this reason, the family leader may not have as much incentive to pass down the wealth in an attempt to continue the "family business."

- Families are divided, blended and reconstructed. With the divorce rate hovering around 50 percent, and blended families a significant factor, dividing and bequeathing family wealth can be complicated. By the time it is funneled down to everyone involved, the amount a beneficiary receives may be significantly less than expected.

- Family feuds can drain the wealth. Families have feuded over money for centuries; however, a modern day family feud can end up costing sizable legal which can reduce the size of the estate to be distributed to the heirs and beneficiaries.

- People are living longer. Living longer means that large sums could be spent on living expenses before it can be passed down to family members.

- Depression era family members aren't pleased with the way future generations have handled money. As a result, some are choosing to live it up at the end of life instead of passing the money on to heirs who will simply blow it themselves.

- Beneficiaries may end up spending their inheritance before they even see a dime of it. Many of the elderly do not qualify for government programs that help pay the bills. As a result, children and grandchildren may be called upon to help, effectively spending any potential inheritance money before it even gets to them.

Each of these circumstances present potential problems in the ultimate distribution of a person's estate upon their passing. The good news is that there are many effective planning strategies that can eliminate, or at least minimize, these problems. The place to start is a consultation with an experienced and qualified estate planning attorney.

Experienced estate planning attorneys Sacramento CA of the Northern California Estate Planning Counselors, LLP offers estate planning and business planning resources to residents of Sacramento CA. To learn more about these free resources, please visit http://www.norcalplanners.com/ today.

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Will The 'Marriage Value' Apply To My Lease Extension?

If you have been looking into the rules and regulations surrounding getting an extension on your lease, then you may well have come across the phrase 'marriage value'.

The purpose of this article is to provide you with a succinct explanation of this additional premium and to explain whether or not you will be eligible to pay it to your landlord when you extend a lease.

First and foremost, it is necessary to understand exactly what the marriage value actually is. This really is not too complicated. Basically, the marriage value payable to a landlord as part of the price of an extended lease, is the best estimate of the increase in the value of the property when the lease extension has been granted. In other words, it assesses the potential value of the property over the term of the new lease.

The resulting marriage value figure is then split straight down the middle between the leaseholder and landlord. Therefore, the 50% premium that would be eligible for the landlord will have to be paid in addition to other compensation costs in order to extend a lease.

However, the marriage value will only have to be paid to the landlord if the remaining term left on the lease has dropped below the 80 years mark. It is quite clear that the relevant legislation has been conceived here in an attempt to reimburse a landlord when they may be more out-of-pocket to extend a lease in the first place.

A firm understanding of the local market is essential when it comes to determining the eventual marriage value of the property -that's why any question regarding lease extension valuation is best left to a surveyor who specialises in lease extensions. The final premium must be based on the best estimate of how the local market is likely to increase over the relevant years that will be added to the lease extension.

As the marriage value premium is not necessary if the remaining term left to run on the lease is more than 80 years, this means that it will cost considerably less to extend a lease within such a timeframe. Moreover, compensation payments to the landlord will be lower the longer the lease has to run, too, and this means that it is often a good idea to consider lease extension as early on as possible.

Provided you have owned your residential leasehold property for a period over two years, you are likely to be entitled to an extension of your lease. You don't even have to have lived in your property during that period - or indeed at all. The sooner you make your application for an extended lease, the better. Don't forget that you also need to seek the assistance of a solicitor who specialises in lease extensions, as the procedure involved in achieving an extended lease is quite complicated.

Bonallack & Bishop are a firm of solicitors experienced in getting an extended lease. They can offer you detailed advice about lease extension. Tim Bishop Senior Partner, sees himself as a businessman who owns a law firm.

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Loan Modification Law Firms: Are They Law Firms?

Once again, the federal government is attempting to assist homeowners with another plan. This time, the framework seems to be in the form of helping homeowners with government approved loans, who are not behind with their mortgage payments, the opportunity to refinance at a lower rate. The question as to whether or not the plan has a chance to work, or is just a political move on the part of Obama is not important to those homeowners who are struggling to keep their homes, or in many cases, save them from foreclosures that are already in process.

What will no doubt happen will be a surge of loan modification companies, once again, ready and willing to deceive as many struggling homeowners as possible with promises of saving their homes. Although many people still are easy prey to these deceitful telemarketers, many more homeowners have become aware of the reality that these firms have no more ability to deal with your lender, and in fact less, than you do if you were to do it yourself.

However, thieves and con-artists don't give up easy, so here are the tactics you can expect them to use. You can expect them to represent themselves using domain names that sound like government agencies. Names such as Obama Modification, or Obama Housing Plan, and similar names. They will buy.org domains to present themselves as non-profit agencies. Most often, they will refer to themselves as "Loan Modification Attorneys" and here is where things get tricky.

Lawyers can be referred to by they area of practice. For instance, there are bankruptcy lawyers, family law and divorce lawyers, tax lawyers, etc. There is no area of practice known as loan modification. Many attorneys can provide help with a loan modification. But, it's important to understand, that the only party that can modify your mortgage is the lender. The attorney can only help facilitate it.

It's fine, even a good idea to retain an experienced attorney to help you when you are faced with a financial hardship and the possibility of losing your home. Loan modification is only one avenue that is available. To use any type of agency or service is simply throwing your much needed money away. Beware of any firm that uses terms such as attorney based, attorney backed, or attorney driven. A law firm is a law firm and has no need to qualify itself as back, based, or driven.

If you are facing these issues, most law firms offer free consultations to discuss your case. Take that opportunity to meet with an attorney and find out how they can help you. It will cost you nothing and may save you not just thousands of dollars, but very likely will save your home as well.

David Miller is a freelance writer and marketing consultant. He has written extensively about bankruptcy, debt settlement, debt consolidation, credit and credit cards, collection agency abuse, consumer law, credit card defense, FDCPA guidelines and complaints, loan modification scams, and foreclosure.

He contributes regularly to financial and real estate blogs.

He currently edits several websites and is a contributing author to many of them including Law Firms and Legal Services

His articles about foreclosure, debt discharge, student loan debt and many other topics in the area of bankruptcy, credit and can be found at http://lawfirmslongisland.com/ along with links to other resources which he has been a contributing author.

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Property Tax Assessment Law

Each year, property taxes in the U.S. rise more and more, but over the last few years the resale value of homes and commercial property has dropped significantly. With the ever increasing amounts owed in real estate taxes, it is no surprise most people are looking for a way to lessen their tax burden.

When a property tax assessment is implemented, the goal is to determine the market value of the property for taxation purposes. The assessor will look at the property and the exterior of any buildings on the property to assist in determining the value of your property. This system is inherently flawed, especially in places like Allegheny County (Pennsylvania), where the assessments are only done once every three years. As we have all seen, many things can change in the housing market in three years time, resulting in inflated values assigned to your real estate. When inflated values are assigned to your home, the amount of property taxes you owe is higher than it should be.

Fortunately, there is an appeals process that is in place for each county to provide you with the chance to argue the assessed value of your property. Through the assessment appeals process, you may be able to have the assessment adjusted, if you can provide enough evidence to show that your residential or commercial real estate is worth less in the market than the amount assigned shows.

To accomplish this, you will need to be able to show a current appraisal, documentation of what other comparable homes in your area have sold for, or other evidence that proves the value listed on your assessment is inflated or otherwise incorrect.

Most counties have property tax exemptions that can lower your tax bill. Allegheny County, for example, has a Homestead exclusion, a Homeowner Tax Relief Act and a Senior Citizen Property Tax Relief Program that can provide significant savings on your residential property taxes each year.

After you have received your property tax assessment, you will have a set amount of time to appeal the assessment. In most counties, the deadline will be in February or March. In Allegheny County, you must submit your assessment appeal form by February 10th for the City of Pittsburgh and Mt. Oliver.

When appealing the property tax assessment of a commercial, industrial or residential property, the details are instrumental in winning the appeal. Many people think that they can appeal without the help of a lawyer, only to be disappointed. An experienced attorney will be able to show that the fair market value is lower than the assessment based on the property features, selling prices of similar properties and the best use of the property in question.

An experienced Pennsylvania real estate tax attorney will diligently research and leave no stone unturned in gathering evidence to show that the fair market value assigned to your home during the assessment is accurate.

Attorney Blaine Jones has extensive experience in helping homeowners receive a fair market value on their property assessment appeal, and is ready to help you save money and protect the long-term value of your home.

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Top 4 Business Mistakes Law Firms Should Avoid

The business of law has its own set of rules and regulations. Nevertheless, as with any other businesses, it can suffer due to certain mistakes, industry inaccuracies, and errors made by law firm or its staff. Whether your law firm is large or small or whether you have a solo practice, these business mistakes can lost you dearly.

Given below are the four most common business mistakes that law firms should avoid

1. Not Focusing on Your Niche

This is particularly applicable to smaller law firms and solo practices. In an attempt to gain more clients and business, there is a temptation to spread yourself too thin and take on cases outside your area of expertise. Don't give in to this temptation. Focus on your niche, as it allows you to deliver greater client satisfaction that will automatically enhance business and profitability. Once you are well established, you may expand the services your firm provides by hiring experts in other areas. Larger law firms that handle diverse cases should assign specific areas of work such as corporate law, environmental issues, and real estate to specific people. Having everyone look at everything is a sure recipe for disaster.

2. Not Marketing Effectively

Some law firms do not believe in marketing at all and want to rely completely on word of mouth and referrals. This is a mistake. At the other end of the spectrum are law firms that spend heavily on advertising and are puzzled by the lack of results. Marketing is an essential tool to promote your law business, but it needs to be used intelligently to offer maximum value. It is not necessary to have a full-page ad in a national newspaper. You may get better results with a small ad in a local magazine that has a greater chance of being read by your target clients. Your website can also serve as a cost-effective marketing tool.

3. Not Paying Attention to Receivables

Providing the best services to clients costs money, but when clients don't honor their bills on time, most lawyers are reluctant to follow-up. Some clients may take advantage of you and delay payment even further. If this situation continues, you will be left low on cash, which will ultimately affect the quality of service. Remember that clients will not leave your firm because you ask them to pay what they owe, but they will surely leave if your level of service goes down.

4. Not Communicating with Clients

Not communicating is a common mistake that most lawyers commit without even being aware of it. The volume of work in a law firm is so large that you tend to be overwhelmed and may actually have no time to communicate with your client. Sounds unbelievable? But it is true. Communication with your clients is very important for business. You may be working very hard for their interests, but they need to know it. Giving regular updates to your clients by phone or email is essential. These are some of the most common business mistakes that law firms regularly make. Avoiding these mistakes will help keep your clients happy, and you will be able to retain them longer than you would otherwise.

The Golden Rules

Find your niche and become an expert in itMarket yourself wellPay attention to cash flowStay in touch with your clients

Ali Asadii, MBA, MA(IT) is an author, business consultant and owner of Asadi Business Consulting, a management consultancy firm that specializes in guiding small and medium-size establishments in managing themselves efficiently and effectively. For more information contact Ali at ali@aprofitmaker.com or via the web at http://www.aprofitmaker.com/

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Guidelines for a Hassle Free Ownership

Buying a property is a single largest investment that comes after a lot of deliberation and caution. Just having funds in place is not sufficient to buy a house. It is important to ensure that all documents are legally and technically sound so that you enjoy hassle free ownership.

Primary Property: If the property is under construction, it is first essential to find out the credential of the builder, his past history and his ability to meet timeline.

It is critical to find out if the builder has all the requisite legal approvals that are required for uninterrupted construction of property. Things such as allotment letter, development agreement, no objection certificate from the municipal corporation, electricity boards and sewage board are among other things that should be in place. It is always not easy for buyers to check all of this because the builders are not very forthcoming and also buyers do not have the technical expertise. One way of getting some confidence in the project/builder is by approaching a financial institution to check if they would be willing to give a loan on the property. Lenders will do a thorough due diligence of the property before approving the loan because they have vested interest.

Many banks / Financial institutions have a list of approved properties. If you buy a property from the approved list, not only will the loan approval process be faster you are also relieved of the headache of finding out the authenticity of the project.

Buying a house put up for resale: Seek the purchase agreement (the agreement between the current owner and the previous owner to make sure the title of the property). You should ensure that the seller has the title and possession of the property as well as the right to transfer the property. Find out if there are any claims, court litigation, mortgages or loans on the property.

Ask for the original copy of the sale deed. If the seller has the original copy, it is an indication that the house is not under mortgage as the lending institution normally retains the original coy of the sale deed till the home loan has been repaid. Check whether all the dues such as property tax, water charges and tax, other society tax and electricity bills have been paid. In case the house is in a co-operative housing society, ask for a no objection certificate and no dues certificate from the society.

Sale Agreement: After the price and other terms and conditions have been negotiated with the builder in case of primary property or with the current owner, it needs to be validated. This is done by an agreement between buyer and seller. This is prepared so as to ensure that none of the parties involved retract on any of the agreed clauses. The agreement has to be made on a stamp paper.

The agreement will contain key details such as down payment, total consideration, the payment schedule, dates and quantum. In addition, the agreement will also contain details such as the size of the house, the location, the delivery date or the completion date in case of property under construction and details of the buyer and seller. In addition, two independent witnesses would also have to sign the document. From a buyer's perspective, he should make sure that everything that is agreed upon forms part of the agreement as this is the only written evidence of the deal.

Sale Deed: A sale deed also known as the conveyance deed is a document that gives the buyer absolute and undisputed ownership of the property. By executing this document the seller transfers his right to the purchaser. A sale deed comes in to effect only at the time of possession of property.

Have a Happy deal in property. I am waiting for your reviews.

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Banning Orders - Can I Be Banned From Entering a Public Place?

A banning order is an order that prohibits an offender, until a stated date, from doing or attempting to do any of the following:
Entering or remaining in a stated licensed premises; or a stated class of licensed premises;Entering or remaining in, during stated hours, a stated area that is a particular distance from the licensed premises;Attending or remaining at a stated event, to be held in a public place, at which liquor will be sold for consumption.

It is advisable for those responding to a banning order application to elicit some certainty in the order by having the area specified. Particulars of the street names or the area abutting several stated streets removes ambiguity and resolves any potential conflicts. It also may be that a blanket ban can be avoided by seeking to restrict the hours of exclusion.

A court may make a banning order, with such conditions as it considers necessary, upon application by the prosecution where:
The offender has been convicted of an offence that involves the use, threatened use or attempted use of unlawful violence to a person or property and;The offence was committed in licensed premises, or in a public place in the vicinity of licensed premises.

The Applicant needs to satisfy the Court that unless the Order is made the Respondent would pose an unacceptable risk to:
the good order of licensed premises and areas in the vicinity of licensed premises; orthe safety and welfare of persons attending licensed premises and areas in the vicinity of licensed premises.

In considering the risk the court must have regard to all the circumstances of the case, including for example the following:
whether the respondent has been the subject of another banning order under the Penalties and Sentences Act, section 11(3) of the Bail Act or a civil banning order imposed under section 173X of the Liquor Act;the respondent's criminal history;the offenders person circumstances and the likely effect of the order on those circumstances;anything else that the court considers relevant

The court has a discretion to impose the banning order for not more than 12 months. Where the respondent is sentenced to a period of imprisonment the banning order commences at the conclusion of the sentence. Those facing a banning order need to consider whether the unacceptable risk exists for the whole of the 12 month period or whether it is probable that such risk will be reduced within a shorter time frame.

The banning order may not restrict a respondent from the entering or remaining within the respondent's residence, place of employment or place of education. In addition the order must not cause undue hardship on the offender or the offender's family. It is incumbent upon the respondent to establish such hardship.

The legislation also envisages that the order will not be breached were the person is utilising a mode of transport required to be used by the offender. The order must describe the mode of transport in sufficient detail to identify the mode of transport and state that the respondent is not stopped from entering or remaining in the mode of transport.

While the legislation is wide in its discretion, those who are respondents to an application need to carefully consider the implications of the order upon their ability to enter the particular location. If the unacceptable risk threshold test is reached they need to consider whether undue hardship will be caused and have evidence of such hardship, or in the case of transport requirements, particulars of the mode of transport.

A banning order is not trivial, a contravention carries a maximum penalty of $4,000.00 or 12 months imprisonment.

Criminal law is a unique and complex area of legal practice. It requires an understanding of a myriad of relevant laws, court procedure and an ability to advocate on behalf of your client.
Michael Gatenby established Gatenby Criminal Lawyers as a boutique criminal law firm to provide strategic representation for those charged with criminal or traffic offences. We understand criminal practice, its all we do.
When your liberty and reputation is at stake, you should demand a lawyer with the skills and commitment to provide your fearless defence.
Visit our website http://www.gatenbylaw.com.au/ or contact us for advice (07)55800120. We regularly appear in all Queensland Courts and travel interstate

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