Settle On Your Priorities

A general partnership is the simplest form of business alliance that you can enter into.  It is less expensive and more manageable than forming a corporation or becoming a limited liability company (LLC).  But you do have to know what to expect from your business partner and what he will expect from you.  

The basic rule is to be sure that you can trust the person whom you are considering to be your partner.  After that you must realize that you’ll be putting your personal assets at stake by entering into a general business partnership.  In other words, if the profits from your business aren’t sufficient to cover the debts it incurs you will be held personally responsible to repay those debts.

Don’t commit to a partnership without first sitting down with your partner to be and discussing a few fundamentals, so that there will be no misunderstandings later.  If you aren’t comfortable doing this or if after the discussion you feel that you and your partner are on an entirely different page when it comes to the goals for your business then you might want to reconsider entering into the relationship.

You may have the skills or training that makes you better in one phase of the business than your partner, and visa versa.  Case in point, one of you may shine at being the front man while the other works better behind the scenes. This could be seen as an asset on a list of pros and cons as long as you can work together and agree on the basic objectives.

Ask each other key questions about the approach you each intend to take toward the business.  Find out where you are in agreement and where there might be some room for debate.  It might be beneficial to get an honest opinion from an independent source.  If you and your prospective partner have known each other for some time you no doubt have mutual friends and may even be on a personal basis with respective family members.  Nothing is lost by getting a fresh perspective.

Once you decide to go ahead with your partnership plans, consult with an attorney about any legal aspects that may be involved in the transaction.  Call Parker Lawyers @ 303-841-9525.

A Simple Misunderstanding Can Lead To Legal Ramifications

You may have heard stories about neighbors having property disputes.  A prime example is the tree that needs to be trimmed back and who is responsible for having it done.  A friendly compromise usually ends the controversy.

A different kind of dispute may arise when one neighbor discovers that his garage is actually sitting on the property of the guy next door.  This may be through no fault of his own but merely a mistake in a previous boundary survey of the two properties.

 The legal term for such a situation is “adverse possession” meaning in this case that the neighbor may claim ownership of the property where his garage had  been constructed and has been standing.  The oversight could go undiscovered for years or even overlooked until something brings it into contention say if one of the neighbors decides to sell his home.  If the two neighbors cannot come to an understanding on their own the dispute may become a matter for the courts.  

The neighbor who stakes the claim e.g., the garage owner in this case, may do so under any one of several sets of circumstances.  State laws vary when it comes to determining exactly what constitutes a claim of adverse possession.

Property owners should take care to avoid this kind of entanglement.   Check property tax records and plat maps to be sure just where the boundaries lie.  If an issue does arise, consider the alternatives open to you before things get out of hand and more problems are created.   You could always simply give your written permission to your neighbor to continue using your property as a matter of his convenience.  If you’d prefer a more legal arrangement ask your lawyer about the option of a property easement.

Contact Parker Lawyers for advice about how to deal with a property dispute or any other civil law matter that may be causing you concern.  You can reach our offices by calling 303-841-9525

Bankruptcy May Be The Solution

You may think that bankruptcy can be the answer to all your financial problems and depending on your particular circumstances you may be right, but it can also be a complicated and long drawn out process.  The best move you can make is to seek advice from a legal professional who is familiar with the laws governing the various bankruptcy chapters.  Look for an attorney who specializes in these kinds of cases and has had plenty of courtroom experience.

Be prepared before you meet with your bankruptcy attorney.  He will want to start out by determining which type of bankruptcy is best suited for your situation.  This will depend on your income, the amount of debt you have built up and whether or not you own real estate.  All this information will be have to be documented by pay stubs, property deeds and loan agreements.  Bring copies of stock certificates and proof of ownership of any personal assets.  Your lawyer will also need to go over your recent tax returns.  You may receive a form from your lawyer’s office with questions pertaining to the upcoming meeting and a list of documentations that you will need to present.  Getting some basic information out of the way beforehand will save his time and yours.

Any investments that you may share with a partner, friend or family member, a vacation home for instance, will be considered an asset.  You will also need to report funds or property that you have transferred ownership of as well as an inheritance that you are likely to be receiving or a tax refund that is due to you.

Do your homework.  Use the internet to gain a basic knowledge of what to expect when going through bankruptcy.  The more you know going in, the better able you will be to ask pertinent questions.

Parker Lawyers offer years of experience in dealing with bankruptcy cases.  Call 303-841-9525 to set up a consultation meeting at your convenience.

Do You Have A Case?

If you are injured in an accident through no fault of your own you may have enough evidence to file a personal injury lawsuit against whoever was responsible. Consult with an attorney who is familiar with the fundamentals surrounding personal injury to make sure that the circumstances of your case will apply.

If he believes that your claim is substantial your attorney will begin taking action by interviewing the doctor who treated you after the accident and can attest to the fact that your injuries were serious enough to incur substantial medical bills. He may also share his opinion that further medical care or rehabilitation may well be necessary. An expert medical witness can confirm that your injuries have affected your job performance and that you suffered considerable loss of salary as a result.

There will be a good chance that negotiations may lead to an out of court settlement that will satisfy your petition. If an agreement can be reached an official legal document will be drawn up and signed by all the parties involved including lawyers and insurance representatives. Once this is done any further claims for compensation on your part will be invalid. That is why it is so important for you as the injured party to be represented by an experienced personal injury attorney.

If a fair settlement cannot be reached your case will proceed to civil court where both sides will call witnesses and enter motions. The judge will most likely encourage the continued attempt at negotiation outside of the courtroom but if all else fails evidence will be presented to a jury who will determine liability.

Your attorney will advise you to carefully consider the advantages of settling your case out of court because if the jury members rule against you you may wind up with nothing. If the jury finds in your favor they will then determine the amount of restitution that you are entitled to.

If you’ve suffered injuries that you feel were cause by the negligence of another contact Parker Lawyers @ 303-841-9525 to confer with a personal injuries attorney.