Author: Elf

  • What is the definition of Ancillary Probate?

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    Ancillary probate refers to the requirement of initiating the probate process not only in the state where the person passed away, but in every state where they had real estate holdings. This legal procedure is referred to as ancillary probate. Each state possesses probate jurisdiction over the real property situated within its boundaries. Consequently, the…

  • What is the definition of the Unlimited Spousal Deduction?

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    The US government has granted an exemption for all transfers of assets between married partners, in addition to the $5,490,000.00 exemption for federal estate taxes. This exemption, known as the Unlimited Spousal Deduction, implies that, regardless of the size of the estate, no taxes are due when the first spouse passes away. However, it is…

  • What are Inheritance Taxes?

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    You have already learned that the process of distributing assets after someone’s passing can be costly and time-consuming. In addition to that, your family may be subjected to an inheritance tax, which is essentially a more polite term for death taxes. There are two types of inheritance tax: state and federal.

  • What Should I Do if I Meet in an Auto Accident?

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    Immediately seek medical attention for your injuries. Obtain as much information from the other driver(s) as possible, including their name, address, phone number, insurance company, policy number, driver’s license, and license plate. Be sure to insist that a report is completed by a law enforcement officer and get a copy. You can also take pictures…

  • How much can I expect to be compensated for my case?

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    The amount you may receive as compensation depends on the type and extent of the incident, and whether the harm was caused by another party’s negligence or happened while working (workplace compensation). A claimant could potentially obtain reimbursement for income loss, medical costs, future medical expenses, loss of earnings, future earnings, and emotional distress.

  • What is the Role of a Tax Attorney?

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    Tax lawyers assist their clients in navigating and adhering to the intricate system of tax regulations. They also advocate for clients in tax-related conflicts.

  • How much time does the tax authority have to collect outstanding taxes?

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    In general, the tax authority has a period of ten years from the assessment of your tax to pursue it. After that, they are legally prohibited from doing so. It is crucial to file your taxes on time to prevent any delays during the assessment period.

  • Who is authorized to act as my representative with the IRS?

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    Only specific professionals are authorized to serve as representatives for taxpayers before the Internal Revenue Service. This list includes Certified Public Accountants, legal professionals, and Enrolled Agents. Will Harmon possesses all three qualifications, guaranteeing comprehensive representation from every perspective.

  • What is the time frame in which an IRS audit can reach back?

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    It largely relies on the findings made by the IRS in the initial audit. Usually, the IRS has the authority to scrutinize tax returns from the past three years. Nonetheless, if an error is discovered during the audit, the IRS can look back up to six years. There are uncommon instances where they might delve…

  • What is the timeframe for establishing a private investment fund?

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    The brief response is: a shorter period than anticipated. Naturally, the duration varies depending on various factors, such as the approach to management and the intricacy of the fund’s framework (whether it includes solely domestic or offshore entities as well). Nonetheless, it is feasible for non-SEC registered domestic funds to be lawfully established and commence…

  • Why is a letter of protection utilized?

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    Occasionally, healthcare facilities and physicians may consent to a “letter of protection,” which is a written authorization enabling the patient to receive treatment without immediate payment. This occurs when individuals are either uninsured or have exhausted their PIP benefits. In such scenarios, a healthcare provider might seek a letter of protection. It is crucial for…

  • What is a letter of indemnity used for?

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    Every claimant is unique and the recovery period differs for each individual. Frequently, a legal matter cannot be settled until the complete scope of the endured harm is determined. This may necessitate undergoing surgery, rehabilitation, etc. Considering this, the typical premises liability/auto or general negligence cases are typically settled within a span of four months…

  • What protections do I have against creditor harassment?

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    The State Consumer Collection Practices Act (SCCPA) safeguards debtors by prohibiting third-party debt collectors and creditors from engaging in unfair practices and unlawful harassment. These Debt Collectors have the right to seek debt collections, but they may face penalties or charges for violating the SCCPA. To avoid being taken advantage of by creditors, it is…

  • What occurs during a hearing for school suspension?

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    A school suspension hearing operates in a manner reminiscent of a criminal trial, wherein one party presents evidence through witnesses and the legal representative for your child is permitted to cross examine those witnesses. Nevertheless, unlike a criminal case, a school suspension hearing is conducted by a designated school authority, often the Vice Principal. Following…

  • What if I’m not Guilty, What Should I Do Then?

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    If you are not guilty it is even more important to protect your rights. Do not speak to the authorities. Anything you say can be used against you. Just because you may not be factually innocent, does not alter the fact that the prosecution still carries the responsibility to prove your guilt. This necessitates extensive…

  • What rights do I have?

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    If you are suspected of criminal activity, you have several rights. The law enforcement and other investigators are trained to encourage you to give up these rights in order to implicate yourself. Regardless of what the law enforcement officer tells you, remember that they are not on your side. Their role is to apprehend you…

  • How soon after an arrest should legal representation be sought?

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    Without delay. If you are arrested, a skilled lawyer will determine the precinct where you have been taken, assert your rights, make efforts to secure your release from the precinct, and promptly proceed to the courthouse to ensure your arraignment takes place as soon as possible, maximizing the likelihood of being released on minimal or…

  • What Can I Expect at Arraignment?

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    At arraignment, you will learn about the charges the prosecutor has chosen to file against you, and the judge will determine whether to release you on your own recognizance, impose bail, specify the amount of bail if applicable, or order your detention. Remand is not permitted for misdemeanors. It is possible to resolve your case…

  • What are the family dynamics?

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    Opting for a relative or a close acquaintance to assume the role of Trustee could potentially exacerbate tensions between the beneficiary and the Trustee. Effective collaboration and compatibility between the beneficiary and the Trustee are essential, therefore, if there are any doubts regarding their ability to achieve this, it might be more prudent to designate…

  • Who is responsible for paying the income tax for the alterable trust?

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    Throughout the lifetime of the Founder, the Alterable Trust does not function as an independent taxpayer, and the Founder must include all sources of income earned by the trust and any corresponding deductions on his or her personal income tax return. If the Founder also serves as a Trustee or co-Trustee of the Alterable Trust,…

  • What is the typical duration of a divorce?

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    The time it takes to finalize a divorce varies depending on the circumstances. If both parties have reached a settlement, the process can be completed within approximately 6 weeks. However, if there are disputes over property division or child custody, the resolution might take significantly longer. It is important to note that such cases tend…

  • How Are Retirement Accounts Managed in A Divorce?

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    A retirement account is handled similar to any other asset. The first step is determining the timeframe when funds were deposited into the account. In certain instances, any funds contributed prior to the marriage may require segregation from the settlement.

  • Who Gets the House in A Florida Divorce?

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    One of the major concerns in a divorce proceeding is the distribution of the house. When children are involved, they can significantly influence this decision. The court may opt to grant the house to the spouse who will have primary custody of the children. If one party desires to retain the house and there is…

  • What is the concept of Fair Division?

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    In a fair division case, all of the assets and debts will be considered and typically split evenly. Any property or assets that were not combined during the marriage will not be included in the division. Additional factors like duration of marriage and income of both parties are also taken into consideration.