On April 21, 2016, Prince, a world-renowned musical legend, passed away at the age of 57. His death was a surprise, and after his passing, it was discovered that he died without leaving behind a living will to direct the disposition of his assets as he would have wished. Prince also did not have a living trust set up to control his assets and distribute them to his heirs. While the debate over Prince's estate and his musical legacy is already boiling over between his siblings, people are once again being made aware of the issues surrounding estate planning.
After you file for bankruptcy, all of your creditors will be notified of your action. The creditors have the right to file a proof of claim to request that a debt be paid even if a discharge is granted in your case. Before you file for bankruptcy, here is what you need to know about the proof of claim. Is a Proof of Claim Always Filed? Although creditors have the right to file a proof of claim, many opt not to.
If you run a small business and are just starting out, filing your taxes can be an overwhelming thing and quite confusing. Doing your taxes wrong for your small business can lead to problems in the future. Here are four reasons you should hire a tax attorney for your small business to help you out: Avoid an Audit: Having the IRS audit your small business can be scary. Not only do you not know what you may have filed wrong that caused suspicion to arise on the side of the IRS, but you also aren't sure what they could be looking for and how much you will be expected to owe in the end.
If you're in a difficult financial situation from which you don't anticipate recovering, then you might be considering the option to file for chapter 7 bankruptcy. By declaring chapter 7 bankruptcy, you may be able to have a great deal of your debt discharged, although you may lose some of your assets in the process. Before you decide whether or not chapter 7 is right for you, however, there are some myths you need to know the truth behind.
For many small business owners, the key to success is often guarding their trade secrets so as to have an edge over competitors. There are many people who would try to take your idea and sell it as their own or use your strategies to build a competing business, which is why you need to take steps to protect your intellectual property so as to ensure the continued success of your business venture.