Category Archives: Uncategorized

Legal Zoom to start your business, really? or Why you shouldn’t be cheap getting your business started?

22 Tuesday May 2012

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Legal Zoom to start your business, really? So you’re going to pay $99 to Legalzoom (PLUS filing fees). They’ll send you some documents. You fill some of them out & think you’re done.

Legalzoom expects you to fill out all the forms. Legalzoom sends you a blank operating agreement. Operating Agreements govern how the owners treat contributions, loans by owners, sale of ownership interest, voting, deadlocks, etc. (Read: this is an important document). Most people don’t fill in the Operating Agreement. Now they have troubles.

Example of problem of not having an operating agreement. We had a client come to us with a deadbeat co-owner (member). They didn’t have an operating agreement. We had to file a superior court lawsuit to remove the deadbeat. It wasn’t cheap.

My standard fee for starting an LLC and drafting Operating Agreement and filing Tax Id Number (EIN) and if you want an S-Corp election is $350. Plus Secretary of State filing fees of $125.

In that fee, I am available to give you start-up advice, Issues in which to be aware, and ask you questions to tailor how we organize your business and more.

But if you choose to go with Legalzoom, please note, I’ve helped fix problems when somebody went the cheap route.

In addition, there are times when an LLC or Corporation is not necessary. I’ve saved folks money by advising them they might as well be a sole proprietorship and keep costs down.

Cycling Events in W-S to promote Bicycling as Alternative to driving

14 Monday May 2012

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Winston-Salem Bicycle & Pedestrian Program has a week of events to promote bicycling as an alternative to driving cars.

Monday, May 14, 2012: Robinhood YMCA—info table 7 am to 9 am

Tuesday, May 15, 2012: Cobblestone Farmers Market at Krankies. City’s bike and walk coordinator will have maps from 10am to 1pm

Mock Orange Bike will display gear for commuter biking. Kernersville YMCA will have info table from 7-9am

Wednesday, May 16: WFU Baptist Health “Bike to Work day”. Info table at Downtown YMCA 7-9am. Mock Orange will have display.

Thursday, May 17: Winston Lake Family YMCA to have info booth from 7-9am

Friday, May 18: Fo. Co. Government Center will hoste Bike To Work Celebration from 7-9am. Free T-shirts and Cyclist maps. ALSO signup for TRIAD COMMUTE CHALLENGE.

Saturday, May 19: Children’s Museum: host 5th Annual Bike Safety Day from 10-1pm. Free helmets and free bike rodeo.

Ride on and be safe.

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Student Loans & Why Someone Should Re-Think College as the Only Way

04 Friday May 2012

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The first in a multi-part series.

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Is college all it’s cracked up to be? Will it improve your life to the point it’s worth taking paying $200,000 for 4 years PLUS foregoing earning full-time income for those same 4 years? And if you have student loans, then also paying the interest over 10 or 15 years.

I have begun to question whether college is worth it. In fact, I bet 70% of all college students would be better served to get a technical degree and learn a trade.

In fact, I made this suggestion to the former head of a state university system. He agreed but turned the question on me when he asked: “But how many people would say that they don’t want their children to go to college?” No, most people have been programmed that to get a college degree is the sign of success. It’s a source of family and personal pride.

The other day I had a good talk with a loan officer at a bank. He told me that he’s seeing a good number of loan applications for homes get denied because of the applicant’s student loan debt. It throws off their income to debt ratio. This officer also commented that one of the bad things about student loan debt is that the loan is a loan on the person. Meaning, you signed a promissory note, you said you’d repay the lender. And there’s no collateral  securing the note that once the collateral (house/car) is sold, the proceeds go to paying the loan. Nope, it’s a full on unsecured note.

I remember D-Day in law school when the admissions department handed out paper to each student showing them their student loan debt. People were teary eyed. Some were surprised. Quite frankly I was astonished they didn’t know the amount beforehand. It was tattooed on my psyche each time I signed the student loan note. I knew how much I owed. That’s the number one reason I lived with my parents during law school: so I could keep my loans lower.

I really don’t think people going to school think about the fact they are signing a promise to repay. Remember when you sign a note, you are giving your word.

I don’t think people sit down and do the math to decide what is really the best path for them, whether work, trade school, or college.

Please comment with your thoughts.

N.C. Attorney General to Vote No/Against on Marriage Amendment

03 Thursday May 2012

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A.G. Roy Cooper said he will vote Against the constitutional amendment. He pointed out potential legal problems with language. He called the proposal “unclear, unwise and unnecessary”.

The A.G. wrote a brief statement in opposition of the amendment and said that it will just create ‘significant amount of litigation’ for years to come.

Excerpts from Lawyers Weekly April 30, 2012 addition.

Landlord Tip: Always cut off utilities before Tenant takes possession & put this in lease too

26 Thursday Apr 2012

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It’s happened over and over again. A landlord for whatever reason doesn’t cut off the utilities prior to the tenant taking possession. Later the tenant fails to pay rent AND isn’t paying the landlord for the utilities.

Landlord’s first reaction: cut off power. Hold on, not so fast.

Even though the lease says the tenant is responsible for all utilities, if the landlord cuts off the power in landlord’s name then that tenant stands a good chance of getting an eviction dismissed. Also, it opens the door for the non-paying tenant to bring a suit against the landlord! I know, this is ridiculous, but this is the way it is.

So abide by my rule: 1) Make sure your WRITTEN lease memorializes that the tenant shall put all utilities in its name & 2) CUT OFF the power in Landlord’s name prior to giving Tenant possession. Don’t make exceptions. Exceptions cause indigestion & lost profits.

Call Kevin Altman 336-714-7734 to handle your  evictions and landlord lawsuits.

Notice by Publication Tip–in Forsyth County use the Clemmons Courier

23 Monday Apr 2012

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I see it regularly. Some poor soul publishes a Creditors Notice for an
estate or Notice of Service by Publication in the big paper in
Winston-Salem. If they selected the Clemmons Courier or Kernersville paper
they would have paid about 1/4 to 1/3 of the price! It’s a drastic
difference.
So if you’re an executor of an estate, by all means, advertise in the
Clemmons Courier or Kernersville paper. They qualify per the general
statutes for notices.

Downtown Winston-Salem Partnership was Big Help

19 Thursday Apr 2012

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Thanks to the “Mayor of Downtown”, Jason Thiel (officially the president of DWSP) & Harvon Savage for staying on the City to get them to return a roll-out recycle bin for my office space. We were delivered one, then the first time I used it, the City came that very night and took every single one at our office townhomes. It took three weeks with the DWSP’s help to get the City to return a bin. Harvon Savage checked in regularly on the status.

 

If you are considering opening a business in the downtown area, I strongly suggest you speak with Jason Thiel. He is very helpful and has good insight. I’ve known of several restaurants that benefited from discussions with him.

 

Check out their blog at http://downtownwinstonsalem.blogspot.com/

 

 

Bicyclist killed by SUV over the weekend

16 Monday Apr 2012

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Winston-Salem, NC — A Winston-Salem Bicylist, Katherine Shubert, was killed in a biking accident in Summerfield. An SUV hit her as she was cycling at 7:10 p.m.

N.C. Highway Patrolman, Trooper W.S. Skinner said the bicyclist was wearing a helmet and following the rules of the road. The driver said she was blinded by sunlight and didn’t see the cyclist. The driver passed a sobriety test on the scene. Investigators and the Guilford Co. D.A. will meet later this week to determine if charges will be filed.

Drivers and cyclists need to be aware that they need to share the road with cyclists and be aware of the rights of others.

Many condolences to the Shubert Family and their friends. http://www.forbisanddick.com/obituary-details.php?id=2558

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This appears to be a situation where one would have a wrongful death claim against the driver for negligence. There is a two year statute of limitations in wrongful death claims to bring a lawsuit in such a case.