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What do I need to put in place to ensure my wife can continue to run our company business if I die? I am currently a sole proprietor contractor with no will yet, although I plan to have one soon. My wife already has power of attorney.
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answered on Mar 18, 2025
As a sole proprietor, all of your business assets are your assets. There is no separate entity. At a minimum you need a will that leaves your business assets (or everything you own, if that is your desire) to your wife when you die. But you should seriously consider creating a revocable living... View More 
What do I need to put in place to ensure my wife can continue to run our company business if I die? I am currently a sole proprietor contractor with no will yet, although I plan to have one soon. My wife already has power of attorney.
answered on Mar 18, 2025
There are a number of ways a person can take over another person's business, including through a Trust or Will, by incorporating or forming an LLC and having specific language in the legal documents, etc. The law in California is that anyone with "probatable" assets valued at more... View More
I have a question regarding a conflict between testamentary dispositions and partnership rules. An Italian citizen, who was a resident and deceased in Italy, left a will with provisions contradicting a partnership agreement made years ago in the USA (specifically Illinois). The partnership... View More
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answered on Mar 17, 2025
You are going to need an IL attorney in addition to the Italian probate attorney. But whatever the decedent actually owned in the partnership will then go through his Estate, regardless what the will claims it is. Decedent does not get to change his partnership contract through a testamentary... View More
I am planning to operate a vending machine selling pet food in both indoor and outdoor locations in Dallas, Texas. I am unaware of any local business regulations or zoning laws related to vending machines. Do I need a permit for this?
answered on Mar 17, 2025
Operating a vending machine business requires compliance with various laws. In general, the operator of a vending machine requires a license from the State of Texas to operate such a business. Cities and counties regulate where commercial business are allowed to operate through zoning laws and... View More
I was the Chief Marketing Officer and a 25% owner of a company, with no prior written agreement about stock ownership after departure. I never saw or approved an SBA loan taken by the company. Since I was terminated a year ago and signed releases, my former partner is now asking me to sign a... View More
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answered on Mar 13, 2025
You are not obligated to sign a personal guarantee for the SBA loan unless you explicitly agreed to do so in a prior agreement. Since you mentioned there was no prior written agreement about stock ownership after departure and you never saw or approved the SBA loan, you are not legally bound to... View More
I have a business idea related to services that I believe is unique, but I'm concerned about protecting it from competitors who might have similar ideas. How can I ensure that my idea is safeguarded, and are there existing patents that I should be aware of?
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answered on Mar 12, 2025
That is a great question. To safeguard your idea and address potential concerns about existing patents, you can pursue two types of searches:
1. Patentability Search: This search assesses whether your idea is patentable by determining if it is new and non-obvious compared to existing prior... View More
I have a business idea related to services that I believe is unique, but I'm concerned about protecting it from competitors who might have similar ideas. How can I ensure that my idea is safeguarded, and are there existing patents that I should be aware of?
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answered on Mar 12, 2025
It is extremely unlikely that you may be able to obtain a patent on a "business idea for services" under the current state of the law regarding patent protection. This sounds like the kind of "101-ineligible" invention that has been trounced by Supreme Court decisions like... View More
I signed a contract with another party to open a business, and the business license is in my name, registered with the Secretary of State in California. The business is located at my address. However, I haven't heard from the other party since November 26, 2024. There are websites running with... View More
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answered on Mar 10, 2025
Assuming you have a valid contract (oral or written) between you and your partner, you can file a civil action for breach of contract. To prove a breach of contract claim you would need to establish the existence of a contract, your performance or excuse for nonperformance, the other party's... View More
I am currently on F-1 OPT following my Master’s in Business Data Science & Analytics and plan to stay in the U.S. for the duration of my OPT, with the possibility of applying for a STEM OPT extension. The work I intend to perform for the manufacturing company involves business intelligence,... View More
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answered on Mar 10, 2025
It is fine to be self employed for regular OPT as long as your degree is related to what the business does. It is always a good idea to set up a company and take any other steps to show that your business is legitimate. (eg. set up a website, operating agreement, EIN, etc.). Stem OPT is much more... View More
I am considering selling a PDF version of my book on social media platforms like Facebook. I have not officially registered the copyright for my book nor do I have a business license. The book includes a basic copyright page. My plan is to sell it directly online, emailing the PDF version to buyers... View More
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answered on Mar 7, 2025
You only need a business license to have a physical place of business in a given locale, or to go into customers' homes to perform a service. You don't need a business license to sell a book online. You also don't need to register a copyright in order to sell your book.
Your... View More
I'm planning to form an LLC and would like to structure it so that my wife does not have access to it due to a possible divorce. We do not have any premarital agreements in place. Can you advise on how I might structure the business and what legal considerations I should be aware of?
answered on Mar 6, 2025
Any business you create in any form during your mariage becomes marital property. Your spouse may not necessarily have "access" in the sense of control, but she would have a claim to half the ownership or at leat half the value of the company. For instance, you can create an LLC and be... View More
I was kicked out by my business partner, and we do not have a formal partnership agreement. However, I do have my business bank agreement as proof of my involvement. What legal options do I have to address this situation and potentially reclaim my position or investment in the business?
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answered on Mar 6, 2025
You may have legal options, but without a formal partnership agreement, your case isn’t clear-cut. Your business bank agreement can serve as evidence of involvement, but more proof—such as financial contributions, communications, or profit-sharing—would strengthen your position.
If... View More
I am planning to start a business from home in California, selling custom t-shirts online across multiple states. I haven’t decided on a business name yet. Should I trademark my business name, and what are the benefits of doing so?
answered on Mar 4, 2025
It is always smart to trademark your business name in order to protect your brand identity and to ensure no one else can use or infringe on your business name and brand you are building. You can file a trademark with the USPTO and it is always smart to consult a trademark attorney to guide you... View More
I'm looking to start a digital product business with Kindle Direct Publishing (KDP) and Print on Demand (POD). I plan to form an LLC and am considering the legal and tax benefits. I temporarily reside in Virginia, have a CDL license in Ohio where I plan to return soon, but am also considering... View More
answered on Feb 24, 2025
You have several options which take a lot of explanation and more questions about your business and its reach. You could initially file under Virginia law and when you move to Ohio transfer the LLC to Ohio. If there are tax advantages and/or state filing advantages to form your LLC in Wyoming or... View More
I am selling my part of a multi-member LLC to another person in Maine. We have drafted a buy-sell agreement for the transaction, but it has not been reviewed by an attorney. All members of the LLC have agreed to the sale. Since this is my first time handling such a transaction, I would like to know... View More
answered on Feb 23, 2025
The paperwork for change in the membership in the LLC is kept with the LLC, and not filed with the state. The LLC will need to file an Annual Report with the Maine Secretary of State by June, and that should reflect the change in the membership.
As part of the buyout, you will sign a... View More
I own a rental property and I'm considering transferring it under my newly formed LLC. I haven't consulted anyone about this yet. My main concerns are tax benefits and business advantages. Specifically, I want to know if there would be more tax advantages or potential expense write-offs... View More
answered on Feb 17, 2025
Have you tried reaching out to the Nebraska Business Development Center through the University of Nebraska? You can request a free consultation to learn more about business planning and development:... View More
I own a rental property and I'm considering transferring it under my newly formed LLC. I haven't consulted anyone about this yet. My main concerns are tax benefits and business advantages. Specifically, I want to know if there would be more tax advantages or potential expense write-offs... View More
answered on Mar 3, 2025
I was just talking with a CPA on this very issue today. There are, in my opinion, a number of reasons to consider an LLC with the leasing of real property. First reason, however, is limited liability and protection of personal assets. Second, while an LLC does not have corporate formalities, the... View More
answered on Feb 12, 2025
No. Generally, if a minor (someone under 18 years of age) enters into a contract, the contract is voidable at any time up until the minor reaches 18 years of age. Generally, the minor would have to return anything of value received under the contract to void the contract. Certain types of... View More
I have 1 llc and I would like to start 2 more businesses. Should I use a dba or create the 2 new businesses under the one llc? or keep them all separate entities?
answered on Jan 21, 2025
It depends on whether the businesses are related to one another. It generally makes the most sense to form separate businesses. Each business will have liability protection so long as you keep them separate from one another and will insulate you from personal Liability. If they are indeed... View More
The phrase I want to use is trademarked by one LLC in connection with fragrances and related products, and by another in connection with coffee-based beverages and caffeinated soft drinks. I would like the trademark for a YouTube video show about basketball, and potentially for merchandise... View More
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answered on Jan 17, 2025
Yes, it's possible to trademark a phrase for use in an unrelated field, even if it's already trademarked in other fields. If your trademark does not create a 'likelihood of confusion' with the existing trademarks in the minds of consumers, you may be able to register it for your... View More
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