Monthly Archives: January 2018

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Five Ways to Improve Your New York Merger or Acquisition Success

For many reasons, business owners and boards arrange to join or to be bought or sold as a strategic move for mutual benefit to both businesses. Careful planning cannot be overstated as a vital first part of the process. Naturally, the best-laid plans often produce unintended circumstances. Reaching out to counsel experienced in mergers and acquisitions at the very start is key to learning many details for a successful transition. As you consider your business’s next steps toward a merger, take time to learn more before you dive into growing your business through an acquisition or a merger. Here are five areas to focus on at the start. Stretch Out Your Hand to Become Acquainted When you first get the idea of considering a merger or acquisition, get to know all you can about your possible future partner. Take time to interview the owner and the company leadership. Find [...]

2019-01-09T00:32:47+00:00January 19th, 2018|

What Are Your New York Spousal Support Options?

When marriages end in New York, maintenance awards are the payments set up to help the receiving spouse become financially independent after a divorce. Factors that affect the award often referred to alimony or spousal support are an assessment of the standard of living the couple experienced while married, whether one spouse or another has enough income and property to provide for his or her own needs, and whether the other spouse owns enough or has enough income to provide for the other spouse’s reasonable needs. Calculating Maintenance Awards The first step in deciding a maintenance award is to understand both spouses’ finances. Both spouses are required to prepare a comprehensive accounting of their own wealth. Each spouse is charged with adding up their net worth and including a statement proving it. All assets are calculated and all liabilities added up. Whatever remains is net worth. As these figures [...]

2019-01-09T00:34:43+00:00January 19th, 2018|

Can I Protect My Assets with a Trust?

A common misconception of a trust is that they are only for the wealthy, but in reality, if you own assets at any level should consider having a trust established. Establishing a trust can protect your assets from creditors, lawsuits, and ensure that your assets are distributed in the manner you decide upon death. Protection from Creditors In some cases, it may be best to establish a trust for keeping your assets away from those whom you owe money to. This type of trust is what is called an irrevocable trust; an irrevocable trust has the following provisions: It locks in assets. The term “irrevocable” literally means the trust cannot be edited, changed, or removed from A trustee must control the trust, someone other than you The trust is required to file an individual tax return Establishing an irrevocable trust creates a separate legal entity that has control over [...]

2018-12-07T20:40:41+00:00January 15th, 2018|

How Long Does It Take to Get a Temporary Guardianship?

Guardians are persons appointed by the court to have “custody” of the individual or “ward” of the court under circumstances where such individuals are not competent to represent themselves in legal or other important matters. Guardians may be appointed for minors or adults on a temporary basis. Temporary Guardianship for Minors Temporary guardianships are generally designed to last no more than 6-months. If the subject of the guardianship is a minor, you will want one appointed in matters where the child is involved as a plaintiff in a civil lawsuit, if there is a custody dispute, or where the child has a physical or mental disability. A temporary guardian can be appointed immediately in many cases. and is generally called a guardian ad-litem. A temporary guardianship expires after 60-days although it can be extended for an additional 60-days for “good cause” but only after a total of 90-days has [...]

2019-01-09T00:35:47+00:00January 12th, 2018|

Where to File for Divorce

Like any other state, you need to establish residency if you are seeking a divorce in that particular jurisdiction. If you wish to get divorced in New York, you have to meet the state’s residency requirements before filing in court. These requirements include any one of the following: You were married in New York and either you or your spouse has been a resident here for one continuous year immediately preceding initiation of the action for divorce. You and your spouse resided in New York as husband and wife and one of you was a New York resident when the divorce action commenced and has been a resident for a period of one continuous year immediately preceding the divorce action. The grounds for the divorce occurred in New York and either you or your spouse was a New York resident for at least one year before the divorce action [...]

2019-01-09T00:46:14+00:00January 5th, 2018|

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