Month: January 2018

Advantages of Dba Vs Llc

When beginning a business, it is important to figure out what entity type is right for your business. Forming an LLC, creates a separate legal entity and carries on a business from that point on, rather than you as an individual. Registering a DBA, however, you will be carrying on a business under a fictitious name. In this article, I will go into further depth about each business entity type and their advantages.

What Is DBA?

DBA is simply the abbreviation for “doing business as.” DBA can also be known as “fictitious names,” “trade name,” or “assumed names.” When a business operates under another name other than its legal one, DBA registration is needed. Many business owners choose another name other than there given personal name to establish recognition and to identify goods sold or services provided.

Unless you run a LLC or corporation, you will not be able to receive money or hold a business bank account under a business name until you have a DBA statement. The purpose of the DBA statement is to inform the public of the owner’s personal name or the name under which they are operating a business.

Many business owners choose another name other than there given personal name to establish recognition and to identify goods sold or services provided

What Is LLC?

LLC is the abbreviation for “limited liability company.” LLC is a separate and distinct legal entity with the ability to get a tax identification number, open a bank account and do business, all under its own name. LLCs can be operated by more than one person who are known as LLC “members.” Forming an LLC can protect a business and its assets.

What Are the Advantages of DBA?

DBA is a simple process with low costs compared to corporations or LLC. There is no requirement for record keeping or other formalities. A DBA allows a business owner to own multiple businesses without having to create separate legal entities for each business. A brand or service set up as a DBA, creates advertising potential whenever the names is mentioned. Home-based business benefit greatly using a DBA. A business owner may want to convert over to a corporation or LLC when their business is running profitably.

A brand or service set up as a DBA, creates advertising potential whenever the names is mentioned. Home-based business benefit greatly using a DBA.

What Are the Advantages of LLC?

One great benefit of LLC, is the special tax benefit. In a DBA, any money a business owner makes passes through to their individual tax return and is taxed accordingly. With an LLC, members can avoid this double taxation and be taxed only once for each LLC member’s individual income tax return.

Since an LLC is viewed as a separate legal entity from its owners or members, an LLC owner is not held accountable for LLC’s debts or legal abilities. The LCC’s owner and their personal assets such as a home, or a bank account are usually not at risk under LCC’s legal obligations. Making this formal commitment to a business opens the door to establishing more credibility with customers, vendors, employees, and partners.

What Is the Best Choice?

The best choice is dependant on your business needs. The rules for DBA and LLC are different where some rules may benefit some businesses more than others. LLC owners have protection and a special tax break where business owners who use an assumed name have more liability and get double taxed. In the same note, a business that is home-based may benefit more from a DBA because it offers more advertising potential and is less costly to maintain.

If you find yourself in need of a DBA or a LLC, Platinum Paralegals can help. Get excellent legal advice for a fraction of the cost of an attorney’s fee. Platinum Paralegals will call you back faster than an attorney who spends most their time in a courtroom. If you are seeking general advice about business entity types, get in touch with us via phone or web form today!

Health Care Directive vs Living Will

Unexpected life threatening events happen all the time and are sometimes unavoidable. Some of these events leave us unconscious with no ability to speak. If this occurrence were to happen to you, wouldn’t you want a say in your course of treatment. Especially if it contradicted your view on what a quality life is. These documents called Advanced Health Care Directives, serve as a record of your medical preference, and help prevent anger or anxiety of loved ones having to grant your medical wish for you.

What Are Advanced Health Care Directives?

Advanced health care directives are fundamental documents that instruct your doctor or health care provider what kind of health care you do or do not want when you are unable to tell them yourself. These documents provide relief of decision making burdens to not only the caregivers, but also any people that care about your health and welfare. There are two main types of advanced directives, living will and medical power of attorney. It’s important for all adults to prepare for these documents because unexpected medical life situations can happen at any age at anytime.

These documents provide relief of decision making burdens to not only the caregivers, but also any people that care about your health and welfare.

 

What Is a Living Will?

A living will falls under the category of advance directives and spells out the type of medical care you wish to receive or don’t wish to receive when you are unresponsive. This will ensures your medical wishes are honored. Topics on resuscitation, quality of life, and end of life treatments should be written in this document so your doctor knows how to approach your treatment.

It’s important to go into specifics about your values and to address a number of different end-of- life situations realizing you can’t account for every possibility. Without a living will, doctors may ask a family member how to advance in your care and are legally obligated to perform procedures that you may not wish to have.

What Is a Health Care Power of Attorney?

A healthcare power of attorney is appointed to make healthcare decisions on your behalf when you can’t communicate on your own. The appointed health care agent becomes your spokesman and advocate for the range of medical treatments you set out in your documents. This document can also be referred to as a health care proxy, appointment of a health care agent or durable power of attorney for healthcare.

This person should understand your quality of life and medical goals so they can carry out decisions with your feelings and values in mind. It’s very important to name an alternate agent incase the primary agent is not available, especially in a life threatening emergency.

Writing a Health Care Directive

To prepare your health care directive, you will need to follow these important steps:

  1. Get the living will and medical power of attorney forms for your state. Generally doctors will respect your wishes if you have a form from a different state.
  2. Choose a health care agent that you trust to make decisions for you and who understands all of your wishes. It is a good idea to appoint a alternative person as your agent if the 1st person is unwilling or unable to make decisions on your behalf.
  3. After filling out the forms, have them witnessed as your state requires.
  4. Give copies to your doctor, health care agent, and your family. Incase you need to modify or revoke the advcanded directive, note on the  advanced health care directive itself who you gave copies to.

If you find yourself in need of a health care directive, Platinum Paralegals can help. Get excellent legal advice for a fraction of the cost of an attorney’s fee. Platinum Paragels will call you back faster than an attorney who spends most their time in a courtroom. If you are seeking general advice about health care directives, get in touch with us via phone or web form today!

 

Dogs Getting Married

US Divorce Rate Compared to Other Countries

Divorce may well be one of the most stressful events of a person’s life. Even with the right legal help, divorce is often exhausting mentally, emotionally, and financially. It’s not uncommon to hear pundits discuss the fall of the American family and rise of divorce rates. But how does the United States compare to the rest of the world in terms of divorce rates?

What Is the Divorce Rate in Mexico?

According to this useful map found on Business Insider, as of 2014, the divorce rate in Mexico was between 10 and 19 percent as of 2014. This is substantially lower than many countries across the globe, including the divorce rate in the United States.

On the same map, the United States divorce rate is estimated at between 50 percent and 59 percent. And in 2017, the divorce rate in US vs other countries was perhaps surprisingly low. The United States ranked 12th in terms of divorce rates, with 46 percent of marriages ending in divorce.

Have the Us Divorce Rates Gone Up Over the Past 20 Years?

Man drawing line from ladder

It’s commonly said that divorce is happening with increasing frequency, but is this true? In order find out, it may be helpful to look at the US divorce rate over time for the past 20 years in the United States. As this analysis shows, divorce rates have actually gone slightly down in the past 20 years. In fact, in 2016, divorce rates in the United States reached an almost 40-year low. While divorce rates for the past 20 years have gone down, marriage rates have also gone up.

Which Country Has the Highest Rate of Divorce?

While the US divorce rate over time has been dropping, some other countries have seen an increase in divorce rates for the past 20 years. For those interested in the divorce rate in US vs other countries, in 2017, the United States ranked 12th in the world in terms of percentages of marriages that end in divorce. Despite this, it’s often said that the U.S. has the highest divorce rate in the developed world.

The country with the highest percentage of divorce may surprise you–it is Luxembourg, one of the wealthiest nations in the world. Luxembourg’s divorce rate was 67 percent. Because the wealthy tend to have the financial resources necessary to pursue divorce, it’s possible that divorce cost in other countries (as well as in the United States) may work as a deterrent to poorer citizens who are considering divorce.

Luxembourg’s divorce rate was 67 percent. Because the wealthy tend to have the financial resources necessary to pursue divorce, it’s possible that divorce cost in other countries (as well as in the United States) may work as a deterrent to poorer citizens who are considering divorce.

Which Country Has the Highest Cost for a Divorce?

This leads us to our next topic–what is the divorce cost in other countries? Because of the cost of divorce varies dramatically by state and region, as well as they type of divorce pursued, it is very difficult to determine which nation has the most expensive divorce. For instance, while the United States has had some of the most expensive divorces in history, it is also possible, in the case of a summary divorce, to have a divorce that costs virtually nothing.

If you find yourself in need of a divorce, or if you just want to explore your options, Platinum Paralegals can help. With us, you get excellent legal advice for a fraction of the cost of an attorney’s fee. In addition, because paralegals don’t spend as much time in the courtroom as an attorney does, you don’t need to worry about waiting long hours for your legal representative to call you back. If you are seeking general advice about divorce, or if you’re ready for a case evaluation, get in touch with us via phone or web form today!

Parental Leave

Paternity, Maternity, and Parental Leave Differences and Similarities in California

When you think of family law, you may think primarily of divorce and legal separation. However, part of family law includes the issue of maternity vs paternity leave and other concerns regarding parental leave California 2017. Below, we’ll examine current policy definitions of maternity and paternity leave California.

What Is the Policy of a Paternity Leave?

While not all states offer paternity leave, California offers a maximum of six weeks of paid family leave for new fathers. New fathers do not need to take all six weeks of leave at once–they are legally allowed to break it up and take portions of their leave gradually.

  1. In order to be eligible for paternity leave California, a new father must meet the following requirements:
  2. Have become a father biologically, through adoption, or through foster care in the past 12 months
  3. Have paid into the state’s disability insurance program within the past five to 18 months
  4. Not have used the maximum six weeks of paid leave in the past 12 months

Depending on where you live in California, your employer may also legally be obligated to offer supplemental benefits to you while you take parental leave California 2017. If you are unsure whether this is an option for you, it’s a good idea to check with your employer.

What Is the Policy of a Maternity Leave?

You are entitled to paid time off when you take paternity or maternity leave in the state of California, but as far as the issue of maternity vs paternity leave, new mothers may be eligible for additional benefits. Even before filing for paid family leave, pregnant women may be eligible for up to four weeks of disability insurance prior to the pregnancy due date.

After the child is born (or if you become a mother through adoption, a partner’s pregnancy, or foster care), you may be eligible for the maximum of six weeks of paid family leave. The eligibility requirements for maternity leave California 2018 are the same as those listed above for paternity leave.

The eligibility requirements for maternity leave California 2018 are the same as those listed above for paternity leave.

How Is a Parental Leave Different or the Same as a Paternity or Maternity Leave?

You may think at first that parental leaver, paternity leave, and maternity leave California 2018 are all essentially the same. However, legally, “parental leave” may be offered in addition to maternity or paternity leave. In January 2018, a new law took effect in which employees of eligible employers were offered the benefit of 12 weeks of job-protected leave. This new law was designed to improve the health of both new parents and their children.

Is There a Price Difference Between Any One of the Three Types of Leaves?

businessman with piggy bank and coins at office

Because the three types of leave are funded by disability insurance programs (in which workers have a small amount of each paycheck deducted), there is not necessarily a price difference between the three. But the new parental leave act, which allows extended time off for those employed by larger corporations, comes at an additional cost to taxpayers.

If you are a new parent or planning on becoming one, understanding your rights when it comes to paid family leave can be confusing. If you find yourself in need of legal counsel or assistance, don’t hesitate to contact Platinum Paralegals. Our knowledgeable team can offer you quality legal advice at a fraction of the cost of a traditional attorney’s fee. If you are looking for general information or if you have a specific concern about family leave, get in touch with Platinum Paralegals today!