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Family Business Concerns and Estate Planning

Posted by on Mar 8, 2014 in Business, Finance | 0 comments

There was a time when people accepted that the first-born child (or more typically the first male child) would inherit the bulk of the family fortune and provide for the other members of the family. It was also the traditional arrangement that the first-born would be taught the family business and take over from the parents when the time comes. However, this is no longer a practical arrangement from the modern family point of view, so there has been an increased interest in addressing family business concerns with estate planning.

A business is considered property, and for many Americans, the family business represents the bulk of their wealth. Unfortunately, the division of the interest, rights and responsibilities in the business can become a bone of contention among family members even if they more or less knew the eventual disposition of the assets. It can revive old hurts and jealousies, and it is the family business that suffers.

Estate planning eliminates much of the drama that happens after the parent dies. The Mokaram personal injury lawyers‘ website suggests that estate planning is something everyone should do because a fatal accident could happen at any time. Estate planning usually takes the form of wills and trusts that can be brought into play while the property owner is still alive, fostering a more business-like approach to the whole inheritance business. It also takes into account the business law that applies to inheriting a family business, such as taxes on business assets. For example, a trust is a common way to minimize inheritance taxes on a family business.

However, business law on family-business estate planning differs from state to state, and there are many ramifications that most people are not aware of that can significantly impact on the continued viability of the business. When considering how to pass on your legacy to your spouse, children, and other people, it would be best to consult with an experienced estate planning lawyer practicing in your state. This will ensure that everything is shipshape and ready to go.

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The Scope of Securities Litigation

Posted by on Mar 5, 2014 in Business, Finance | 0 comments

Securities litigation is just one of the functions of a securities lawyer, but it is an important one. Because money is primarily the driving force behind securities, navigating its laws and regulations can be difficult. Many a lawsuit resulted from the inadvertent violation of the many laws and regulations to pertaining to securities such as the Securities Act of 1933, the Securities Exchange Act of 1934, Sarbanes Oxley, or the Dodd-Frank Act.

A brokerage firm may make a misstep and find itself in hot water with its clients. A publicly-traded company may be improperly managed and be accused of fraud by its shareholders. A fund manager may decide to take the money of clients for personal use. Such cases will require the services of a lawyer specializing in securities litigation, either to prosecute or to defend.

Because the field is so complex, there are no presumed victims and villains in this play. Securities attorneys may find themselves on either side of the fence, depending on the circumstances. While it is true that securities fraud, insider trading, and malfeasance are often carried out to the detriment of shareholders and investors, securities companies, brokerage firms and other financial services companies have also been hauled into civil court on frivolous and downright fraudulent grounds. Hence the Private Securities Litigation Reform Act of 1995, which provides financial and securities management institutions some protection against unfair litigation.

According to the Peter J. Berman, Ltd. website, securities litigation can be costly, so mediation or arbitration would be better alternatives. But when a dispute can reach no resolution, the courts will have to settle the matter for the concerned parties. To ensure the rights of the opposing parties are protected in accordance with the law, the services of an experienced securities lawyer would be indispensable.

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