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Three Questions To Ask Before Selling Your Business

Three Questions To Ask Before Selling Your Business

By David Inabinett Operating a business in any industry is hard. Operating a successful business is even harder. As a business owner, you have to make difficult decisions every day. Whether your operating a brick and mortar location or ecommerce site, selling your business or company does not have to be difficult. Questions to Ask Yourself Do you have a plan? You will need to have a plan and clearly defined goals set in place before you start the process of selling your business or company. There are lots of things to consider when selling a business: price negotiationtime framelegal assistancehelp from certified financial experts There are pros and cons to every business deal. Following a plan or guideline will help you determine the best possible option.    2. When is the right time to sell? Timing is key when selling your business. Knowing and understanding when the market is up or down is an important part of selling your business. Selling at the right time and you can set yourself and your family up for the future. Selling at the wrong time can hinder the financial growth you have worked hard to build. 3. How much is my business worth? Knowing how much your business is worth ins not only important for you but important for buyers too. Potential buyers will want to know much your business is really worth. Is your business making a profit?Are you breaking even?Are you overextending your services or products?Is your business relevant in today’s quickly evolving market?What are the customary industry standards in valuing your business? You will also need to be...
The Value in National Elder Law Month

The Value in National Elder Law Month

Ryan McNeill For over 40 years the month of May has been designated as a time to acknowledge and give a voice to seniors. Since its declaration in 1963 as “Senior Citizens Month” by President John F. Kennedy, the title has evolved into National Elder Law Month. With help and support from The National Academy of Elder Law Attorneys (NAELA) National Elder Law Month every year during the month of May attorneys in the field of elder law provide information, materials, resources, and legal direction to their communities. Why National Elder Law Month is Important? Having May designated as National Elder Law Month highlights and brings awareness of legal issues and problems seniors or caretakers of seniors may be dealing with. Whether you have just reached the age of being considered a senior or you are the legal caretaker of an individual who is a senior, knowing your rights within elder law is important. Elder Law Practice AreasNot all areas of elder law apply to every individual. An elder law attorney can help you determine what areas might be applicable to the situation you are encountering. Depending on your situation an Elder law attorney can practice in many areas that may include but are not limited to: Estate PlanningAsset Protection PlanningLong-term Care PlanningSpecial Needs TrustsRetirement PlanningMedical Directive If you, a family member or a loved one need legal help or assistance, remember it’s never too late to plan. For more information, make your appointment with an elder law attorney at Brinkley Walser...
Virtual Notarization Temporarily Authorized in North Carolina

Virtual Notarization Temporarily Authorized in North Carolina

By Ryan McNeill, Attorney at Law The current pandemic may have you thinking about estate planning. With social distancing requirements put in place, schools closed for the academic year and business temporarily closed, there is a lot to process. Add to that the COVID-19 statistics shown on the nightly news, and it is no wonder many people are worried about the future. To adapt and to provide continuous vital legal services during the COVID-19 pandemic, the North Carolina General Assembly has passed a law that will no longer require a notary to be physically present in the same location as the signing of documents when notarizing estate planning or other legal documents. The emergency video notarization provisions were part of Senate Bill 704, which became law on May 4, 2020, and which had other important provisions for signing estate planning documents. Emergency video notarization is authorized while a state of emergency order is in place and requires that there be real-time video and audio electronic interaction between the notary and the person signing the document. Itfurther requires that the notary either has personal knowledge of the person signing the document or that during the video conference the signer show to the camera a state or federal issued photo identification card like a driver’s license. Additional changes were made to witnessing certain estate planning documents. The old law required a living will or healthcare power of attorney documents to be signed in the presence of two witnesses and a notary. During the state of emergency both of those documents now only require notarization and the presence of two witnesses is...
Impact COVID-19: Families First Corona Virus Response Act, Unemployment, and More

Impact COVID-19: Families First Corona Virus Response Act, Unemployment, and More

There is no doubt things have changed for you and the entire country. Children are being homeschooled. Businesses are temporarily closed or permanently shut down, and unemployment is on the rise. Who knew at the start of 2020 that we all would be under stay-at-home orders? Watch our virtual seminar from Brinkley Walser Stoner attorney Bradley Hunt to learn and understand how to navigate changes to the law. A speacial thank you to the Women’s Resource Center of Greensboro. Brinkley Walser Stoner attorneys are here to help with your legal needs; schedule your appointment today to speak with one of our experienced...
Hope for the Best, Prepare for the Worst During COVID-19

Hope for the Best, Prepare for the Worst During COVID-19

By Will Miller Since mid-March of this year, we have all been living in the shadow of COVID-19. Although we all experience death during our lives, the pandemic has heightened awareness of human vulnerability and mortality, both for ourselves and our loved ones. We wonder what would happen if we became critically ill from the virus, how our illness would affect our family and friends, and what we can do to prepare for the possibility of grave illness or death. Illness and death are morbid topics in the best of times, perhaps more so in the midst of a pandemic. However, the value of taking proactive steps to prepare for the worst is rarely more apparent than now. A comprehensive estate plan provides preparation for illness and end of life through advanced directives for incapacity and end-of-life treatment, as well as for instructions for the division of assets among loved ones at death. An initial step toward such preparation is considering what decisions may need to be made regarding your medical care if you become incapacitated and unable to communicate your wishes. If you were unable to breathe due to COVID-19, would you want to be intubated and connected to a ventilator? What if your treating physician determined that you were not going to recover from the virus – would you want to be kept alive as long as possible, or would you want life support to be withheld or withdrawn? Questions concerning end-of-life medical treatment are relevant for many illnesses and conditions, but current events make us more mindful of such scenarios. An estate planning attorney can guide...
Pandemics & Legal Considerations

Pandemics & Legal Considerations

We are living in an unprecedented time, facing a virus that we cannot see whose impact is being felt across the globe. We are hearing advice from all corners (some good, some bad). Most of us are coping with daily life while trying to work from home, educate our children until online learning options are available or they return to their classrooms, and maintain physical distance from friends and loved ones. As we watch the news, it seems like the situation changes hourly. Knowing this is temporary and things will improve helps. County, state and federal officials are working to manage and direct responses to the pandemic, and we see true heroes daily as most everyone pitches in to help. We thank the first responders, healthcare workers, truck drivers, delivery teams, and employees of essential businesses like grocery stores and pharmacies. There are other heroes behind the scenes taking small steps to help – from people donating blood to help address the blood shortage, to teachers checking in on their kids, to those checking daily on an elderly neighbor with no local family. There are too many to list here, but know we appreciate all of you. We wanted to share some thoughts around the pandemic and these challenging times: Take care of yourself and your loved ones. The global scale of the pandemic should make us all recognize health or a long life are never guaranteed. If you do not have a will, advance directives, or other estate plans in place, now is an excellent time to take care of this vital task. Much of this work can...
COVID-19 Update

COVID-19 Update

As of March 26, 2020 Legal providers have been labeled as an essential business so our office will remain open and operating with our regular hours.  Some of the precautions we are taking include spacing out appointments to have fewer people in the office at one time; a drop box right inside our door for the delivery of documents; and we’re offering the option for virtual or telephone appointments if you would like to schedule one. For various reasons some of us may be working remotely during this time.  If you call to reach us be sure and leave a message and your call will be returned within 24 hours. We apologize for any inconvenience this may cause as we work to comply with the recommendations to prevent the spread of COVID-19.  As of March 16,2020 The health and well-being of our employees and clients is our highest priority. In light of recommendations from NCDHHS and CDC, we are asking that if you are feeling unwell or experiencing symptoms such as fever, cough and/or shortness of breath, please avoid coming into the offices, even to deliver or pick up documents. Of course, please avoid coming into our offices for the safety of others if you are confirmed to have COVID-19 or have a family member at home that is confirmed to have COVID-19. We will be rescheduling matters that are not time sensitive. Our website’s “contact us” page and email will be the most efficient way to reach us if it becomes necessary for our team to work from home. You may also leave a message at our main...
Do You Have Enough Auto Insurance?

Do You Have Enough Auto Insurance?

By Roy L. McDonald, II, Attorney at Law Motor vehicle accidents (MVAs) cause more than 30,000 deaths each year and are a top ten cause of death among people aged 1-54.  In 2017, a total of 275,067 MVAs occurred on North Carolina roadways, an increase of 9,000 from the previous year.  A total of 81,865 North Carolina MVAs resulted in an injury and 1,297 resulted in a fatality. The average economic cost of a non-fatal disabling injury in a MVA is $61,600.00.  The average economic cost of a death resulting from a MVA is $1,130,000.  The average cost of a new car is $36,718.00.  A fully loaded 2020 Chevrolet Tahoe 4WD Premier Plus retails for more than $75,000.00. Not having enough automobile insurance could cause you to have personal financial responsibility for your own or someone else’s bodily injury or property damage after a MVA, so it is important that you have the right kind and the right amount of automobile insurance coverage. Liability Coverage Liability coverage protects you if you cause a MVA.  It is divided into bodily injury coverage and property damage coverage.  Bodily injury coverage is separated into per person and per accident limits.  You are legally required to carry a minimum of $30,000.00 per person/$60,000.00 per accident in bodily injury coverage.  This means that if you have only the required minimum amount of bodily injury coverage and cause a MVA your policy will pay no more than $30,000.00 to each person injured.  This also means that if more than one person is injured, your policy will pay no more than $60,000.00 among all the people...
Three Questions to Ask Before You Start a New Business

Three Questions to Ask Before You Start a New Business

Bradley Hunt| Everyone wants to be an entrepreneur. The idea of running your own business, not punching the clock, and not having to answer to a superior is what most people dream of. However, it is not as easy as it seems. To operate a successful business or company there are guidelines, procedures, and laws that you need to adhere to. Name selection, business structure, and licensing are important elements in starting any new business. What Name Should I Choose? A name is more than just a name when starting a new business. The name of your new business is the first thing customers will notice. We recommend coming up with several names in case your first (or second) choice is not available. New business owners don’t always consider that there are state and federal requirements to meet or that someone else may have already registered the name you wanted. The North Carolina Secretary of State website offers guidelines for choosing a business name: “An entity name shall not contain language stating or implying that the entity is organized for any purpose other than a purpose that is lawful and that is permitted by its formation documents. (i.e., Articles of Incorporation)The name must be distinguishable upon the records of the Secretary of State from the name of any other entity on the business registry. By Administrative Code, the business entity suffix of the name (i.e., Inc., LLC) is not used to determine distinguishability on the records.An entity name shall not contain words offensive to accepted standards of decency.” From a practical perspective, you may not want to choose a...
Direct Impact: The Americans with Disabilities Act

Direct Impact: The Americans with Disabilities Act

By Will Miller, Attorney at Law Most people do not give much daily thought to the Americans with Disabilities Act (ADA). I know I didn’t before I lost my eyesight. However, as I adjusted to life with blindness, I learned quite a bit about the intent and implementation of the ADA. The law was enacted in 1990 and has had many amendments throughout the years. The ADA is intended to prohibit discrimination against people with disabilities across a wide spectrum. Some of the obvious things we see on a daily basis include buildings with ramps and automated door openers, accessible parking spaces, hotels with walk-in showers and safety railings, and braille lettering on elevator keypads. Less obvious are requirements related to communication and employment. What Does the ADA Cover? The Americans with Disabilities Act has five primary sections, or Titles, that address different aspects: Title I: Employment Title I has the largest impact on most businesses. This section of the law prohibits discrimination during the application and hiring process, training, and firing; it also requires businesses to provide “reasonable accommodations” for job applicants and current employees with a disability. (More on what employers need to know below.) Title II: Public Services Local, state and federal government agencies must ensure programs, services and activities they provide are accessible to individuals with a disability. (This section does not apply to business owners.) Title III: Public Accommodations This Title applies to all business owners and non-profits, regardless of the number of employees. It may also impact your Homeowner’s Association if you have a clubhouse, pool, or other facilities used by the public....