If I Plan to Renovate or Build on the Property, What Permits or Legal Approvals Do I Need?
Video Summary
If I plan to renovate or build on the property, what permits, or legal approvals do I need? You need to start with a building permit as far as your contractor and be sure that you need to have a licensed contractor to do the work and file a commencement notice to comply with construction lien law. And so, some municipalities may require you to file a site plan, even though it’s the existing building. Just make sure that it complies with all the zoning requirements and your intended use of the property. So, the big thing is, is to get a building permit and have work done by a license built in contractor. You have any questions, give me a call at (727) 847-2288.
- Published in LLC's and Corporations, Real Estate, Videos
Should I Name a Corporate Trustee Like A Bank or Trust Company or an Individual Trustee?
Video Summary
Should I name a corporate trustee, like a bank or trust company or an individual trustee? Well, I believe that corporate trustees or trust companies are very well suited to handle large trust where there’s a lot of assets and it’s a continuing trust, meaning that the trustee is directed to hold the asset, invest it, and give the income or make distributions over a period of time to the beneficiary, such as hold the money until the beneficiary reach his age 35 and only give them income. They need to make investment choices, and they would do a very good job of as far as investing. One of the factors involved with the corporate trustee is their fee schedule and that you might want to check to see what their minimums are and what size of trust they usually like to handle, and that usually they have certain minimums as what it would cost them to handle it. On the other hand, if you have an individual which you trust, or one of your children or a relative who you believe could handle this and you have make provision for your assets to be distributed outright, then an individual may work out just fine and that they can simply marshal the assets or inventory them and then either sell them or turn around and distribute them in kind to the beneficiaries. And so, it’s not that complicated. Sometimes you want to name an individual, particularly if you have a minor or someone, a special needs person, and you want the human element of them to be able to make decisions as if the child or the beneficiary was theirs. So those are some of the factors to look at as far as individual versus corporate trustees. And usually, an individual does not charge the same rate as what a corporate trustee would. My phone number is (727) 847-2288If you have any questions
- Published in LLC's and Corporations, Trusts, Videos
Could Land Use or Zoning Rules Limit My Business on the Property?
Video Summary
Are there any zoning restrictions or land use rules that could affect my intended business on the property? Yes, zoning can restrict what business you can operate on your property. By way of example, the property needs to be properly zoned, such as C one, which is office commercial C two, which is heavy, automobile repair shops such as that one is light and industrial I two. These are examples of the type of zone you need to have. So depending on what your business is, it is whether or not you have the proper zoning. Also, as far as your land use is concerned, that will play into it and that you may need to have that comply. Not only the zoning, but also the land use as to what you’re going to be using the property for. If you’re going to be using it not for business, you need to check on density. Also, many municipalities may require a site plan, particularly if it’s vacant property as to landscaping and all sorts of other requirements on a site plan. So yes, zoning and government has a lot to do with what you can use your property for and whether you can use it for your intended business and what all you have to do to the property in order to operate your business. So, if you have any questions about it, give me a call at (727) 847-2288.
- Published in LLC's and Corporations, Real Estate, Videos
How Do I Write Corporate Minutes?
Video Summary
How do I write corporate minutes? Well, corporate minutes usually consist of shareholder minutes and also director’s minutes. And so what you need to do is write down the date and time and place that the meeting took place and who was in attendance. The bylaws of a corporation will set forth the notices that need to be sent out, which can be waived. And so if you have all of the shareholders in attendance, then you can simply have them sign a waiver that they waive notice of the shareholders meeting, and or you can have a shareholder give a proxy as far as that’s concerned. And then the shareholders are the ones that elect the directors as far as that’s concerned. So that is what you do as far as the shareholder minutes are concerned, you do the same format as far as the director’s minutes are concerned, the date, time, and place, and who is in attendance as far as your director’s meeting. And have them waive notice of the meeting, which are set forth in the bylaws. And their primary function is to elect the officers. If there are any major purchases or decisions to be made, then they need to pass a resolution as far as that’s concerned. They may want to accept the salary for the officers, the corporation. So, all of these things that need to be taken in consideration with the director’s minutes. So that’s how you do directors and shareholders’ minutes. And if you have any questions or need for me to assist you, I have a form that I send out for you to fill out as far as that’s concerned, and I can do the minutes for you. My phone number is (727) 847-2288.
- Published in LLC's and Corporations, Taxes, Videos
What Legal Documents Should Everyone Have?
Video Summary
What legal documents should everyone have? One, I think of the top of the list is you need to be sure that you have government issued identification such as a driver’s license or an ID card issued by the same as a driver’s license. I don’t know if the department of motor vehicles issues those, but have an ID because you’ll need that. No matter where you go to cash checks or any number of places as far as your estate planning documents, I think everyone should have a living will that would direct whether or not you want life support to be discontinued. If you have a terminal condition, permanent vegetative state or an end stage condition, it really is important. I think that you have a healthcare surrogate or where you designate a healthcare proxy to be able to make medical decisions for you and also have a HIPAA waiver so that they can check on you to find out how you’re doing as far as if you are hospitalized, although you may not be dying like you would be using a living will also consider particularly if you’re by yourself rather than a husband and wife situation is to giving someone that you trust, hopefully a child or a loved one that you consider, or really trust a durable power of attorney who would be able to take care of business for you. And it’s called durable sense. It would be in the event you no longer had capacity. It would also be good to have a birth certificate and if you’re have a marriage license, particularly, for the ladies or the spouses, if you change your name, I think that’s a problem. Whenever you go to have your driver’s license taken care of, if you happen to be divorced and I have a copy of your divorce decree or decrease on the appropriate marital settlement agreements that go with those, if you have any unrecorded agreements. If you’ve entered into a contract with a lease to purchase property, it’s important that you have a copy of the signed documents or the signed documents. If you have promissory notes, are any unrecorded, a legal document that has to do with your rights to collect money or you owe money or you’re purchasing property or leasing property, those would all be documents that you should have in your possession. You have any questions about that will give me a call at (727) 847-2288.
- Published in Estate Planning, LLC's and Corporations, Real Estate, Videos