Going through the loss of a close family member, friend or acquaintance is never easy. For business owners, the loss of a partner can create significant logistical challenges on top of the emotional heartache. Without a proper system in place, the unexpected death of a business partner could undermine the future of the company. It… Read more »
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Ohio Estate Planning: What is A Revocable Trust?
Every adult in Ohio can benefit from drafting a will. As important as it is to have a will, it is not always the most effective estate planning vehicle. In some cases, another tool, such as a revocable trust, is a more efficient way to distribute assets to your heirs. Revocable trusts are governed by… Read more »
Business Law: What is Substantial Performance of a Contract?
In contract law, substantial performance is a term used to describe a type of performance that, while not complete, is still sufficient to fulfill a party’s obligations under the agreement. In other words, the legal doctrine sometimes allows parties to avoid facing a breach of contract claim even though they technically deviated slightly from the… Read more »
Pets and Estate Planning: Your Guide to Ohio Law
Whether it is a dog, a cat, or a more exotic animal, a pet can become a true member of the family. Many people understandably have questions or concerns about what will happen to their beloved pets if they pass away or become incapacitated. You can plan for your pet. Ohio allows people to include… Read more »
Forming a New Business in Ohio? Three Considerations for Choosing an Entity
Forming a new business is about a lot more than simply filling the right paperwork with the Ohio Secretary of State. One of the most important decisions you must make when creating a new company is choice of entity. A successful company needs the right legal foundation. There are several options available, including sole proprietorships,… Read more »
Estate Planning: Are Handwritten Wills Valid in Ohio?
A will is a core part of virtually every effective estate planning. It is a legal document expressing a person’s last and final wishes, which ensures their desires are carried out. To be legally valid, a will must conform to certain basic characteristics. This raises a question: Is a handwritten will valid in Ohio? The… Read more »
Business Law in Ohio: What is the Uniform Commercial Code (UCC)?
The Uniform Commercial Code (UCC) is a set of universal laws governing most commercial transactions involving the sale of goods in the United States. If you own or operate a business, it is helpful to have a basic understanding of what the UCC is and how it operates in the modern world. In this article,… Read more »
Estate Planning: Your Guide to Health Care Directives in Ohio
A proper estate plan is about far more than figuring out what happens to your property, assets, and liabilities when you die. An estate plan should be used to ensure you are fully protected in the event you are unable to make your own decisions. A health care directive is often an important part of… Read more »
Power of Attorney in Ohio: Dispelling Four Common Myths
Power of attorney is one of the most important estate planning documents. According to the Ohio State Bar Association, a power of attorney allows you to appoint someone to act on your behalf in the event you are unable to do so. You are vulnerable without a legally valid power of attorney in place. As… Read more »
Dissolving a Corporation in Ohio: What You Need to Know
There may come a time when it makes sense to bring a corporation to an end. Even great businesses sometimes have an expiration date. In Ohio, there are strict rules and procedures that must be followed when dissolving a registered corporation. A company that fails to follow requirements could run into serious problems — potentially… Read more »