Probate Help - By the People

If you are having to go through the Probate Process with the court, let BY THE PEOPLE help.

We may be able to assist you in representing yourself, by preparing the documents needed, filing the paperwork with the court, setting court dates, arranging for publication, and many other steps needed to complete the process.

Our fees are 1% of the value of the estate (up to $3,500.00). Any fees for the courts, probate referee, publication will be extra.

An Overview of a Quit Claim Deed

The deed to a property is a legal document that establishes ownership. There are different types of deeds. Here is an overview of a quit claim deed.

An Overview of a Quit Claim Deed

Quit claim deeds are a form of deed used in the transfer or sale of property when a grantor, a person who owns an interest in the property, is essentially allowing the transfer of that property to another person. The grantors do not actually own the property but rather simply have responsibility over it. For this reason, grantors have the legal right to sell the property but there is a catch.

The quit claim deed offers little protection for buyers down the road. Although the property will be transferred to the grantee from the grantor, the quit claim deed does not legally protect the grantee from future claims to the property. The grantor does not legally own the property and so that leaves a back door open for potential future problems regarding the property.

Quit claim deeds are often used in a couple situations due to their relative simplicity compared to many of the other forms that have to be filed during property transfer and/or sales. One, the quit claim deed is used to clear up a title. And two, quit claim deeds are effective for those who want to use a simplistic method for giving up their interests in a certain property.

When used in a sale of a property, quit claim deeds can result in significant risk to the buyers of the property. However, quit claim deeds still have other uses that are very beneficial. For instance, in the case where there are multiple people who have claims to a home, such as when a relative passes away, a quit claim deed is an effective way of one of these people to legally transfer their interests in the home to another person. A divorce can create a similar situation, making the quit claim deed very useful.

It is important to be smart about which form of deed you will be using and signing whether you are a seller or a buyer. Know what the potential risks are and the protections that are being offered by the deed so as to better be prepared.


Article Source: http://EzineArticles.com/228866

How to Start an LLC

Setting up a limited liability company or LLC is so easy contrary to what others think. There are fewer documents that are required to be passed in order to establish the business and there are also simple processes involved. But in order to understand the process involved in starting a limited company, you should know first what the features of the company are.

What is a limited liability company?

A limited liability company is one of the business structures in which it features a combination of partnership and corporation. It has the legal protection of owners' personal assets and the creditors cannot pursue them during bankruptcy like corporations. Aside from the protection of assets, the LLC also enjoys tax and operational benefits of partnerships. This means that there is only one level of taxation unlike in corporations where the company is taxed at a business level and the shareholders are also taxed for their dividends.

What are the requirements of starting an LLC?

Although the limited liability company is a hybrid business structure, establishing one is very easy. The law only requires one document to be passed by the company but there may be other requirements depending on the state where the business will be established. The only document required is the Articles of Organization.

The Articles of Organization

This is the basic document of the company. Some states call this document "certificate of formation" or "certificate of organization". Important information about the company is stated in this document such as business name, owners or members, duration of the business, name of the registered agent and the corresponding address, purpose of the company, and managers' names and addresses, if applicable.

There is a filing fee for the Articles of Organization and the price depends on the state. The fee may range from $100 to $800. There may be other fees that the state may require so it is best to consult first the LLC filing office before processing the document. This is a disadvantage compared to partnership or sole proprietorship.

Operating Agreement

This document is not required by law but may be required by some states. This document indicates how the company will be managed and the organizational structure of the LLC. It is important to have this document before the company operates in order to avoid confusion within the organization.

The Operating Agreement sets out rules for ownership of the company. This includes members' rights and responsibilities, percentage interest in the business, management of the organization, allocation of profits and losses, and certain provisions such as "buy-sell" in case one of the members dies, becomes disabled or leaves the company. Such provisions are important because the life of the company is affected if one of the members leaves the LLC.

Publication requirements

There are some states that require the company to publish a notice in a local newspaper stating the intention of establishment. In case this is required, the notice should be published several times for several weeks, depending on what the filing office will require. After the specified period, an affidavit of publication should be passed to complete the filing of the company.


Article Source: http://EzineArticles.com/7405553

DIVORCE !!! Easier than you think? - By The People Fairfield CA

Rene goes over how a divorce does not always need to involve a full legal team. He explains the process of how By The People can help file the paperwork necessary for the courts. See more at http://www.bythepeopleca.com

A Guide to Successfully Filling Out a Living Trust Form

Living trust forms are sensitive legal instruments that require careful following of instruction. First, let us define a living trust and then go on to discuss why it is necessary to understand how to fill out the form and how to go about it. A living trust, also known as a revocable living trust is a trust that is created by an individual who is alive with the purpose of holding the title of his or her assets and distribution of these assets upon the death of the individual. It is referred to as a living trust because it is created while the individual is still alive. On the other hand, is a trust is created through a will, it will be referred to as a testamentary trust, having been created through the individuals, last testament and will. Hence, the living trust will is not to be confused with a will.

The concept of a probate

It has come to be an exceedingly popular way of tax planning, and it helps in steering clear of a probate, which has been passed as a law in some States during the property succession process. The probate ensures that the deceased debts to any individual or institution, including the government, will be settled before distribution to the heirs begins. This process is expensive, time-consuming and feels like an invasion of privacy. Therefore, to stay away from all these, individuals are turning to trusts, which have added tax benefits too.

The procedure of creating such a fund is a bit complex and involves the filling out of a bunch of trust forms. This must be done with the utmost care and accuracy, because one false move on the forms and the whole trust could be in a lot of trouble and could go on for a long time. It is, therefore, imperative that an individual be extra vigilant when undertaking this exercise. Here, are some pointers that will aid when filling out living trust forms.

Filling the living trust forms

The first basic, and most straightforward, precaution that is ignored is folding the form.

1. The forms should always remain unfolded and must be free of any creases, stains or smudges. This is because computers read most of the forms, and any foreign appearance on the form may be tantamount to invalid or wrong information.

2. It is extremely critical that an individual be exceedingly careful when it comes to the detail. One should recheck the details filled in and do it a couple of times to make sure that one is on the safe side. This is important because a slight error in the details could change a lot in a court of law and an individual or the heirs could end up in an unpleasant situation just because of a small mistake when filling out the form.

3. As stated above, most of the forms are read by computers that have optical character recognition software, and so it is vital to write in a legible and clear handwriting so that the computer will read the correct information.

4. Always have copies of the forms in an easily accessible place because one may require referring to them in case of anything.

5. Always consult with the attorneys on any move an individual may wish to make (alteration or modification of the trust) because they are more qualified and experienced in dealing with matters that concern the living trust.

Follow the basic pointers above and be assured that there will be a smooth and uncomplicated process of creating a living trust. Always take necessary steps after this to preserve the living trust forms in the best condition.

Article Source: http://EzineArticles.com/6951614

Defining Legal Terms - By The People Fairfield CA

Rene goes over what types of questions they can help answer at By The People.  A lega document preparation company.  See more at http://www.bythepeopleca.com

Let Us Help You Set Up Your Corporation or LLC!

By the People will create your Company Articles, file them with the Secretary of State, and create an Organizational Kit for you, including: Sample Bylaws and Minutes, Seal, Shares, and Misc. Needed Forms.

Our fees are $399.00 plus filing fees:

INC - $115.00 and

LLC - $85.00

What is a Durable Financial Power of Attorney?

A durable financial power of attorney (POA) is a document that grants authority to someone of your choosing to handle your financial matters. This can include paying your bills, accessing your bank accounts and even selling or buying assets and negotiating real estate deals.

A regular Durable POA allows the named agent to step in at any time and doesn't require a disability to be active. For example, your wife could sign a financial document for you while you are out town.

A "springing" Durable Power of Attorney on the other hand, only gives your financial agent access to your finances when a doctor has diagnosed you as mentally or physically unable to handle your own affairs. In the case of a "springing" durable POA, you will be in full control of your own financial matters while you are of sound mind and body.

If your family depends upon you for financial security, a POA can allow them to continue using your assets if you should become disabled. If you do not name a power of attorney your spouse or family will have to get a court order to handle your finances. This will require a judge to declare you "incompetent" and could delay paying bills and paying for any medical care you may need.

Your Durable Financial POA is only valid while you are still alive. Upon your death, control of your financial assets will pass to your estate executor or your trustee if you have named one.

In addition, a Durable Financial POA will also terminate automatically if you cancel it, a court deems it invalid, your spouse was the agent and you divorce, or if the named agent is not available. Considering this last case, it is a good idea to name a back-up financial agent.


Article Source: http://EzineArticles.com/4835856

By The People Fairfield CA

Rene talks about how By The People in Fairfield can help people with legal matters in an inexpensive way.  See more at http://www.bythepeopleca.com

How to Write a Promissory Note

When writing a promissory note, be sure that the date the money is borrowed is prominently indicated. Write a promissory note, identifying the borrower and terms of the loan, with advice from a certified family mediator in this free video on legal self-help.