Government Contracts Legal Blog

Do You Need a Buy-Sell Agreement?

Posted by Dan McAuliffe on Jul 6, 2017 11:47:25 AM

Do You Need a Buy-Sell Agreement?

As a family business begins to plan for its longevity, a buyers - sellers agreement can play a very critical role. These agreements provide a thorough description of how ownership will transfer at the time of the death or incapacity of the business’s owner. While buy-sell agreements provide a deal about how the heirs of a deceased or disabled owner will receive assets from a company, clients often wonder whether they need a buy-sell agreement. The answer this question is that these agreements are suggested for any small or mid-sized company that has more than one owner. Also, in situations where a company has more than one shareholder, buyers - sellers agreements are recommended. To determine the value of a buy-sell agreement, it is often a wise idea to retain the assistance of a skilled probate attorney.

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Topics: Estate Planning

Colorado’s End of Life Law

Posted by Dan McAuliffe on Jun 26, 2017 7:59:40 AM

Colorado’s End of Life Law ~ Death With Dignity 

How the state of Colorado treats terminal illness with the new end of life law is about to change significantly which results in a substantial change to estate planning. The End of Life Options Act was certified by Governor Hickenlooper at the end of 2016. This law makes it legal for a terminally ill, mentally capable adults can obtain life-ending medication. The law also makes it legal for health care providers to prescribe the medication and for pharmacies to fill prescriptions. Designed after Oregon’s Death with Dignity law, the law was in passed in 1997 and mandates some specific qualifications that individuals must follow to be eligible for a life-ending prescription. Many individuals are confused about the difference between death under this Act and suicide. Individuals in support of “death with dignity,” in which a terminally ill person is allowed the option to end their life, argue that this behavior does not constitute suicide because an individual will certainly die within a short period. If you or loved one is terminally ill and interested in pursuing a death with dignity option, the assistance of a knowledgeable Colorado lawyer can prove to be especially useful with end of life legalities.

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Topics: Estate Planning

Abusing Power of Attorney

Posted by Dan McAuliffe on Jun 23, 2017 3:45:29 PM

Cases of Abusing Power of Attorney

In a recent case of severe abuse of power of attorney against a vulnerable adult, a man was sentenced to four years in prison. The individual pleaded guilty to stealing more than $600,000 from his mother who has acute dementia and had no way to understand that her son was taking the money. The man liquidated many of the woman’s bank accounts and proceeded to spend the woman’s money. The exploitation of the woman’s money continued over the course of eight years in this example of abusing power of attorney. Lawyers claim that in addition to financial damages caused by the man, he also caused serious emotional pain for his family. The man’s defense attorney urged the man receive treatment for his gambling addiction, but this argument did not prevent the man from being sentenced to several years in prison. If you suspect that financial exploitation of an elder is occurring, it is often a wise idea to immediately contact a skilled attorney.

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Topics: Estate Planning

Buy-Sell Agreement Advice for Baby Boomers

Posted by Dan McAuliffe on Jun 15, 2017 11:23:42 AM

Buy-Sell Agreement Advice for Baby Boomers

An increasing number of business owners in the baby boomer generation are planning to transition out of their business. If an individual has their retirement savings connected to a business and there is a delay in selling or an individual is not sure about how to obtain the full amount from a business, retirement could be postponed or sometimes not even possible. A buyers-sellers agreement or business succession plan can prove to be particularly important for baby boomers who are interested in retiring. For individuals who are interested in retiring sometime soon, it is often a wise idea to consult with an experienced estate planning attorney and develop a buyers-sellers agreement.

Schedule an Appointment with  an Estate Planning Attorney   Today! 

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Topics: Estate Planning

Living Wills for Younger Individuals

Posted by Dan McAuliffe on May 7, 2017 10:19:18 AM

Many younger individuals believe that they do not need living wills, because they are young and healthy. Despite the invulnerable feeling of youth experienced by many individuals, there is still the unfortunate possibility that a young person could fall ill or become seriously injured and require the assistance of estate planning tools. By taking the time to consider the purpose of advance planning documents at a young age, individuals can prepare in case the worst scenario does happen. A seasoned estate planning attorney is best able to help a younger individual make sure that proper estate planning tools are in place.

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Topics: Estate Planning

Estate Planning with Pets and Pet Trusts

Posted by Dan McAuliffe on May 3, 2017 3:02:33 PM

In many cases when an individual dies, the individual’s pets are surrendered to shelters. In other cases, pets are distributed to whoever receives other possessions of the deceased individual. With estate planning, however, individuals are frequently able to craft statements concerning exactly what should happen to pets after the individual’s death. The American Society for the Prevention of Cruelty to Animals estimates that approximately 400,000 pets each year must find new homes because their owners die. A skilled estate planning is often knowledgeable about how to craft provisions for the ongoing care of pets rather than just relying on other people to honor your wishes regarding a pet.

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Topics: Estate Planning

What Happens to Contracts When the Service Disabled Veteran Dies?

Posted by Joseph Whitcomb on May 3, 2017 2:58:17 PM

There are various federal contracts owned by particular classifications of individuals including veterans. The unexpected death of a service disabled veteran business owner, however, can leave an individual with numerous questions about how ownership of the contract will transfer. This entry will note some elements about these contracts when the certified owner dies and another individual, which could be a spouse or a child, becomes the new owner of the contract. It is also important to remember that in many of these types of contracts, the assistance of an attorney who specializes in government contracts and bids can be especially useful.

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Topics: Estate Planning

Estate Planning Advice Before Traveling

Posted by Dan McAuliffe on May 2, 2017 11:14:26 AM

Each year during the spring and summer, many individuals take vacations to the beach, ski slopes, or various foreign locations. During the trip planning process for many people, not enough consideration is made for various estate planning concerns. Instead, individuals focus on budgeting time and finances to make such a trip possible. Individuals, however, who plan to go on even small vacations should make sure to perform adequate estate planning. With reports showing that paid holidays are available to 77 percent of private industry workers, there are a large number of individuals who have the option to take vacations each year in the United States. One of the most common ways in which accidents occur during vacations are automobile accidents, with particularly dangerous holidays including New Year’s Day, Thanksgiving, Labor Day, and Independence Day. Because accidents without adequate estate planning can be particularly severe, a skilled estate planning attorney can prove to be especially useful.    

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Topics: Estate Planning

DNA Harvest and End of Life Documents

Posted by Joseph Whitcomb on Apr 30, 2017 9:48:30 PM

Hospital Refuses to Perform DNA Harvest on Deceased Man due to Lack of End of Life Documents

A Colorado woman has faced substantial difficulties in using her deceased boyfriend’s DNA to create a child because the man died without lack of estate planning documents. Although the man’s girlfriend planned to use his sperm to have a child, the hospital where the man died refused to perform the DNA harvest because the man died without proper end of life documents. Because sperm’s viability only lasts a period of 24 to 48 hours after death, the woman now appears to have lost her struggle due to lack of estate planning documents. While the girlfriend has raised the argument that sperm should have been collected because the man was an organ donor, the man lacked medical paperwork dictating his wishes. Without proper end of life documents, the girlfriend cannot serve as his power of attorney.

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Topics: Estate Planning

Arbitration and Healthcare Claims

Posted by Joseph Whitcomb on Jul 15, 2014 11:18:53 PM

Should I take my healthcare claims to arbitration

A recent Pennsylvania appellate case permitted a nursing home facility to arbitrate the negligence healthcare claims against it.  Alternative dispute resolution (ADR), which includes arbitration, has risen as a strong alternative to the court system.  The healthcare attorneys at Whitcomb Law, P.C. understand its relationship to the healthcare sector and its importance in handling civil matters in a less adversarial process.

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Topics: Estate Planning

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Whitcomb Law, PC is dedicated to helping government contractors extract all the benefits that can be derived from doing business with federal, state, and local governments.  We strive to provide content on this blog that is up-to-date, relevant, and easy to read.  We enjoy reading your feedback especially when it helps us improve the way in which we serve you.

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