#tom gallagher

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Fire escapes made good sleeping porches for the New York poor, such as this one on 11th St., August 30, 1948.

Photo: Tom Gallagher for the NY Daily News

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Tom Gallagher

[thedissenters]

Beatles fans with their new "mop-top" hairstyle in New York City, NY | 13 August 1965 © Tom Gallagher

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How to Choose an Estate Planning Attorney

What will happen to your asset when you pass on? Have you put in place measures that authorize someone to make financial, legal, or medical decisions on your behalf should you become incapacitated and can’t make these decisions yourself?

While these questions are not fun to think about, you should be able to answer them. If you can’t, you need to find yourself an estate-planning attorney to help you establish an estate plan.

An estate plan is a set of legal documents that outline how your asset will be managed or disposed of should you die or become incapacitated. A good estate plan usually has four key things:

The last will. This document states who you would like to inherit or manage your property when you pass on. If you don’t have a will before you die, the state could distribute your assets. This process can take years and is expensive, which can cause family conflicts or legal battles over your assets after your death.

A living will states among other things, what type of life-sustaining treatment you would like to be given should you have a terminal disease and are incapable of making medical decisions.

Healthcare power of attorney. You should have this document done with the living will. It allows a spouse, relative, or anyone you choose to make medical decisions on your behalf when you’re unable to do so.

Financial power of attorney. Similar to the healthcare power of attorney, this document authorizes someone you choose to make financial decisions for you when you can’t. If you don’t allow someone to do this, your financial obligations may remain pending until you’re able to handle them yourself, something that could cost you.

From the above information, I’m sure you can see why having an estate plan is important.

Most people, however, delay creating an estate plan or never have one because they think they’re too young or don’t have enough money or assets.

Estate planning attorneys and financial experts recommend you start estate planning on reaching 18 years, which is the age you become legally responsible for your health care and finances in several US states, and review the plan every two to five years.

So, if you don’t already have an estate plan, you should organize to get one soon.

In the following section, I’ll share with you a few tips to help you choose a good estate planning attorney.

3 Tips for Choosing the Best Estate Planning Attorney for You

Planning your estate is an important responsibility that you cannot leave to just any lawyer. To ensure you work with the right estate planning attorney, use these tips to choose one.

Look for an attorney that specializes in estate planning

Any attorney can help you with your estate planning because they’re knowledgeable in law. However, you want to avoid a lawyer who is a jack of all trades and look for one whose primary practice area is estate planning.

Such an attorney has most likely mastered the main areas of estate planning and is up to date with current laws and issues in this field. They’re therefore better placed to help you plan your estate.

If you don’t know any estate planning attorney, ask your family, friends, colleagues, etc., if they know one they can recommend.

You could also use websites like the American Academy of Estate Planning Attorneys and the National Association of Estate Planners & Councils to find an experienced estate planning attorney in your area.

Ask about the estate planning attorney’s experience

Once you settle on a short list of estate planning attorneys you would be interested in working with, question them about their experience to find out if they’re qualified to handle your estate.

The attorney could be experienced in handling vast and complex business estates or family and small business estates. Others are also well versed in dealing with estate planning for the elderly.

The number of years the estate attorney has practiced should also interest you. I would recommend that you choose an attorney that has at least 3 years of experience. This is enough time for them to have mastered estate planning laws.

Apart from their experience, other questions you what to ask an estate planning attorney include:

How much do they charge? Factors such as the attorney’s experience, size, and complexity of your estate will determine what you pay for estate planning. The attorney could bill you a flat fee or per hour. Ensure you know which billing methods they use.

Do they have any clients you can talk to? It is important to talk to several people who have worked with the estate planning attorney to find out what it is like working with them and the quality of their work.

Do they work alone or with a team of highly skilled individuals? An attorney that works independently may be slow in preparing estate planning documents, but with a team, this process may have a quick turnaround. Also, an estate planning attorney who has assistants may be preferable because if something happens to them, someone conversant with your estate plan may take over.

Do they belong to any professional organizations? Professional organizations provided extensive education and lots of networking opportunities. If the attorney you’re considering is a member of an estate planning attorney’s body, it could be a sign that they’re committed to staying up to date with the latest developments in their industry, which is important if they’re to advise you well.

Know this is a long-term relationship

Estate planning is not a one-off thing. You’ll update your plan over the years as your family grows, go up the corporate ladder, divorce, etc. So, after questioning the estate planning attorneys, choose the one you like and feel most comfortable with because the two of you could begin a long relationship that ends at death.

Gallagher Krich, APC: Experienced Estate Planning Attorneys

To give you peace of mind that your assets will be well taken care of, and to avert potential family conflict should you die or become incapacitated, let Gallagher Krich, APC, help you come up with a comprehensive estate plan.

Our attorneys who have over 30 years of combined estate planning experience can take you through creating a will, establishing a trust, and drafting other estate plan documents. Call us at [phone] or book an appointment online with one of our experienced estate planning attorneys today.

The post How to Choose an Estate Planning Attorney appeared first on Gallagher Krich, APC, Attorneys.

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Modified school sports to go ahead this fall

Modified school sports to go ahead this fall #IpswichMA #sports #covid19

IPSWICH — In a normal year, high school footballers would have already been out practising.

Other athletes would have followed a few days later. But all would have been getting ready for the fall season days before school officially started.

But because of ongoing fears about COVID-19, the Massachusetts Interscholastic Athletic Association (MIAA) has made sweeping alterations to the sports…

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Force Majeure: know your legal options as a tenant during COVID-19

“Force Majeure” occurs when an emergency that is unforeseeable at the time of the contract makes the performance of the contract objectively impossible.

Sometimes, a contract contains the Force Majeure clause (“FMC”). Literally “force majeure” translates from French as a “superior force.” According to Black’s Law Dictionary, force majeure is defined as “An event or effect that can be neither anticipated nor controlled”. Force majeure clauses allocate risk between the contracting parties if performance becomes impossible or impracticable because of an unforeseen event.

The most common unforeseen risk currently is the catastrophic economic harm caused by the Coronavirus pandemic.

A San Diego tenant may need assistance with lease modifications or help to obtain a deferment agreement with a residential or commercial landlord. In most cases, a landlord should be willing to work with a tenant, especially if there is a government-mandated closure of business at the property, whether temporary or indefinite.

Normally, a landlord may hold a tenant to the term of the lease but that may not be enforceable if the lease is deemed impossible to fulfill due to unforeseen government closures amid emergency health conditions.

A landlord should be willing to enter into a deferment agreement whereby your monthly rent is deferred until a later date until you are able to pay. This is an optional approach that can assist you in reaching a resolution with your landlord over any difficulties that your business is having paying rent and to remain in the property established by your business Goodwill as conditions improve.

Call Gallagher Krich APC at [phone] to explore your legal options today.

The post Force Majeure: know your legal options as a tenant during COVID-19 appeared first on Gallagher Krich, APC: Business Law, Contracts & More.

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3 Steps for Starting a Business in California

Starting a business can be a very exciting time! After you’ve chosen the name, business structure and gained the necessary funding, there are a few important steps you must take in order for your business to become a legal entity under California law.

1. FILING THE APPROPRIATE DOCUMENTS

Articles of Incorporation

The articles of incorporation/organization establish the existence of the business whether a corporation, LLC, etc. When filed, you are letting the State of California know you are in fact forming a business and the important details about the company.

Statement of Information

The Statement of Information (SOI) provides the state with information regarding the owners and officers of your company, important addresses and a description of the type of business you will be performing. The SOI must be filed within 90 days of the Articles of Incorporation/Organization in order to do business in the state of California.

Federal Employer Identification Number

An Employer Identification Number (EIN) is used to identify your business to the IRS for tax purposes. Your business will be issued a nine digit EIN that you must use to file your various business tax returns.

Licenses and Permits

Depending on what kind of business you start and the operations of your business, you may need to file for a certain type of business license or permit. There are many different types of licenses and permits, like alcohol license, zoning permits, and Seller’s permit, to name a few.

2. CREATING A BUSINESS PLAN

Many startups or newly formed businesses make the mistake of failing to properly set up a business plan for the company. It is highly recommended to sit down with your business partners to flesh out the important details of your business including the business purpose, your goals, a market analysis, financial projections, organization and management, etc.

One of the concrete ways of deciding on the organization and management of your business is by creating an LLC Operating Agreement or Corporate Bylaws.

LLC Operating Agreement

An Operating Agreement is a legally binding business document that fully lays out the operations, rules, percentages of ownership, roles, and many other important planning regulations for the business.

Although this document is not filed with the State of California, any LLC is required to have an operating agreement in order to prevent any conflicting opinions or actions among your business partners.

Corporate Bylaws

Much like the LLC Operating Agreement, all corporations in California are required to have Corporate Bylaws. Although Bylaws are not filed with the State of California, they must contain the rules and responsibilities of the shareholders, directors, and board of directors of your corporation.

A very important tip to keep in mind is that the Bylaws cannot contain anything illegal or conflicting with the Articles of Incorporation.

3. PROTECTING YOUR BUSINESS

Business insurance is a vital step in protecting your business from any potential and unforeseen liability.

General liability is the recommended type of insurance for all business. Depending on the insurance carrier you choose, liability insurance policies can provide protections for property damages and liability claims that might be made against your business. Without business insurance, costs associated with liability may have to be paid out-of-pocket.

There are many insurance companies that provide business liability protections. We advise you to consult with one of our attorneys to determine the best carrier for your business.

If you are in need of assistance with planning and starting your business, please feel free to contact our offices at [phone].

The post 3 Steps for Starting a Business in California appeared first on Gallagher Krich, APC: Business Law, Contracts & More.

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COVID-19: Rules Surrounding Employment Pay Reductions

What are an employee’s options when an employer makes a pay cut to an exempt employee? If they refuse, can they claim unemployment?

In light of the COVID-19 pandemic, many companies are experiencing a severe decline of revenue. Therefore, they are resorting to employee pay reductions. It is important that employers are following the necessary rules specifically regarding their exempt employees.

Exempt Employees

When an employee is “exempt”, it primarily means they are exempt from receiving overtime pay. The alternative is non-exempt employees. The details and rules governing exempt and non-exempt employees are covered by the Fair Labor Standards Act (“FLSA”).

Generally, to qualify as exempt under the FLSA, an employee must be paid on a salary basis, meaning the employee must receive the same amount of compensation each week, regardless of the number of hours or days they have worked.

The FLSA includes the following job categories as exempt: professional, administrative, executive, outside sales, and computer related.

The details vary state by state, but if an employee falls in the above categories, is salaried, and earns a minimum of $684 per week or $35,568 annually, they are considered exempt.

Reduction of Pay

An employer must pay an exempt employee the full predetermined salary amount “free and clear” for any week in which the employee performs any work without regard to the number of days or hours worked.

Employers cannot reduce an exempt employee’s pay in California for not meeting performance expectations or for poor work quality. Nor can they reduce the pay for exempt employees who have been disciplined for conduct issues.

However, absent an employment agreement to the contrary, it is generally lawful for employers to temporarily reduce wages for an economic slowdown, such as the current economic state resulting from COVID-19 pandemic. Employers should, however, give affected employees at least a pay period’s notice of the reduction in pay in order to comply with state wage payment and collection laws.

In California, there are wage theft prevention acts that require employers to notify employees in writing when making changes to certain employment conditions such as pay rates and methods of pay.

Does a Pay Reduction result in loss of exemption status?

The answer depends on how much your salary is following the pay reduction. A salary reduction will not result in loss of the exemption, as long as the employee still receives on a salary basis at least $684 per week.

What are the alternatives options to a Pay Reduction?

Employees may be eligible for Unemployment Insurance (UI) benefits depending on the percentage of pay reduction, the amount of post-reduction salary, and applicable state law UI requirements and limitations.

Unpaid Leave is another option that can be an alternative to the pay reduction. Subject to state and local laws, employers may require employees to exhaust PTO during an unpaid leave of absence. Any unpaid leave of absence imposed on an exempt employee must be for a full workweek or longer, and the employer must ensure that no work is performed during the leave.

Deferring compensation for most exempt employees is rarely an option, but employers may consider deferring executive compensation until cash flow recovers. Many executives are compensated well above minimum salary thresholds to meet the white collar exemptions. Therefore, subject to agreement, employers may defer executive compensation while still meeting the minimum salary threshold.

Following a Pay Reduction or Layoff, will your Benefits continue?

Reduced workweeks may affect the level of benefit contributions to a 401(k) plan, particularly if the employee had planned to spread out the maximum annual contribution over the course of the year. If an employee is furloughed for an entire week, he or she may need to make additional premium payments in other weeks to ensure health or dental coverage for the month.

In California, if an employee is a parent of children in daycare or grades K-12, they are entitled to take up to 40 hours of leave per year to address a child care or school emergency, including unexpected school closures. Employers may require employees to use vacation or PTO benefits before they can take unpaid leave, but employers cannot require employees to use paid sick leave.

If you have experienced a pay reduction and require legal assistance with your employment options, please feel free to contact our offices at [phone].

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