The Reality of Marital Property Division.
Equitable Distribution is the process by which a separated or divorced couple divides their martial estate – cash, real property, personal property, retirement savings, investments, and debts – all of the assets accrued during the marriage term. “ED” cases never (well almost never) go to trial. Out of over 17,000 domestic matters filed in Mecklenburg County last year, less than 10 went to trial. There are sitting family law judges who have never presided over an Equitable ...
How Dentists can avoid catastrophe by utilizing smart asset protection plans.
By: Adam G. Breeding, Esq., Lake Norman Law Firm
I often talk and write about the importance of smart asset protection plans for successful folks-
particularly those in high liability risk professions. Among those professionals are dentists – perhaps more so than any other profession since dentists tend to own and manage their own practice individually or with a small group of partners (unlike physicians who are generally employed by large health care ...
This Article highlights the importance of estate planning as it relates not only to the late Mr. Faison, but also to the general public.
written by Adam G. Breeding, of Lake norman Law Firm
A recently filed Mecklenburg County lawsuit sheds light on the importance of finalizing one’s estate plan and testamentary wishes before it’s too late. Charlotte real estate developer, the late Henry Faison, unexpectedly passed away just days before he was scheduled to make changes to his estate plan that would ...
Smart Planning For Lake Norman Homeowners.
Written by Adam G. Breeding of Lake Norman Law firm
At Lake Norman Law Firm, we often talk about the utility of asset protection plans for successful individuals who are in high risk professions. Doctors, other health care professionals, contractors, land developers, and even lawyers are often subject to liability risk associated with their jobs. But what about the common homeowner entertaining guests at their Lake Norman property? You’ve worked hard, invested wisely, and bought your dream ...
Living Trusts: 10 reasons not to have one.
Written by Adam Breeding of Lake Norman Law Firm.
Living trusts are my favorite estate planning tool. A trust may not be for every person, but for most clients the living trust is a better option than a simple will. Usually, when clients talk with me about an estate plan, I have little trouble persuading them to choose a trust. I bring my “reasons not to have a living trust” with me to the client ...
Big Picture=Effective Settlements
Written by: Adam Breeding, Lake Norman Law Firm.
I am a big believer in alternative dispute resolution (or ADR). There are a ton of great benefits to settling matters out of court – usually through a mediated settlement conference. But for mediation efforts to be successful, clients and their attorneys should keep these basic tips in mind:
1. Pay the extra bucks for a good mediator. No water-carriers. It is absolutely worth engaging a mediator who understands the issues, can think ...
Learn the benefits and power of what an LLC can do for you and your business here in this Article.
Written by: Adam Breeding, Lake Norman Law Firm
A limited liability company ( LLC ) offers protection from personal liability for business debts, just like a corporation. However, unlike a corporation, which must pay its own taxes, an LLC is a pass-through tax entity: The profits and losses of the business pass through to its owners, who report them on their personal ...
Asset Protection and Corporate Formation
The following article by asset protection guru – Robert J. Mintz from California – is very instructive to Lake Norman Law Firm clients, both those that are operating as an LLC, and those looking to utilize an LLC or other corporate form as an estate protection tool. We spend time with every client to ensure that they understand what Attorney Mintz is discussing – LLCs with all their might and utility are still prone to a crafty ...
There is a lot to know about family law and divorce. Here are a few highlights on the topics to get you started.
Absolute Divorce in North Carolina
In North Carolina, if you have been a resident of the state for six months and physically separated from your spouse for more than one year (366 days or more), you are eligible to obtain an absolute divorce. A separation agreement or distribution of property is not required prior to obtaining the divorce, and such a ...
One of the most common things that people neglect to do is secure a will. This article will address why you need a will and other frequently asked questions about Estate Planning.
Why do I need a Will?
A Will indicates to whom your property will pass upon your death, and how the property will be distributed. Most people have an idea as to who they would like to distribute property to upon their deaths, and a Will is the instrument that allows ...