You have decided to start a new company and have chosen a business entity. So what’s next? Although corporate bylaws are required, they don’t address important issues that may arise if you have two or more shareholders in your company. One of the first things you should do is to have an experienced business lawyer help you create a shareholders’ agreement and other important legal documents associated with your business to make sure your company’s and shareholders’ rights and interests are protected.
What Is A Shareholder Agreement?
A shareholder agreement is a legal document that outlines how a company should be operated and defines shareholders’ rights, liabilities and obligations. When drafted properly, a shareholder agreement ensures that shareholders are treated equitably and protects them from certain actions that may be taken by other shareholders and outside parties.
What Is In A Shareholder Agreement?
In addition to outlining the privileges and protections of shareholders and how the company will be managed, shareholder agreements often restrict a shareholder’s ability to transfer shares to third parties outside the company. Your agreement may also contain the number of shares issued, the fair pricing of shares, each shareholder’s percentage of company ownership, pre-emptive rights for existing shareholders to purchase shares, and specifics on payment if the company is sold.
A shareholder agreement also explains what will happen to shares should a shareholder pass away, retire or decide to leave the company. A shareholder agreement is often a vital element of small business succession planning and can ensure a smooth and equitable transition upon the death, retirement or disability of a shareholder.
A shareholder agreement may also address:
Membership of the board of directors
Officers of the corporation
Majority or supermajority voting requirements on certain decisions
Buy-Sell obligations, options or rights of first refusal
Issues surrounding termination and dissolution of a corporation
Employment agreements for shareholders/employees
Termination of employment of a shareholder
Shareholders’ life insurance
Dispute resolution processes
Why Do I Need An Attorney To Draft A Shareholder Agreement?
A shareholder agreement should have both the company and the shareholders’ best interests in mind. As a company grows and changes, conflict may arise, and a shareholder agreement can help you avoid costly legal battles down the road. Creating this type of agreement without assistance from a skilled business contract attorney may lead to contentious shareholder disputes.
An attorney who is well-versed in business law will create a contract that helps you understand your rights and responsibilities and ensures that your interests are protected. If you’re a small business owner or shareholder, it’s particularly important to seek the counsel of an experienced lawyer who can help you create bylaws, articles of incorporation, partnership agreements, nondisclosure agreements and other legal documents that will help your business start off on the right foot and run more smoothly.
From choosing a business entity to creating an effective business succession plan and shareholder agreement, the knowledgeable attorneys at Carosella and Associates help make starting your business a smooth process.
If you have decided to end your marriage, one of the most important questions to ask yourself is whether or not you need a divorce lawyer. Although it depends on your specific circumstances, seeking the counsel of an experienced divorce attorney can put you on the right track and make the process less stressful for everyone involved.
The Risks of Handling a Divorce on Your Own
Many couples decide to divorce amicably and start with good intentions. However, dividing assets and debts, creating a parenting plan and settling issues of custody and support can quickly become contentious. You and your spouse may believe you are on the same page, but emotions can run high once you get into serious discussions and negotiations.
When considering whether or not to hire a divorce lawyer in PA , it’s important to ask yourself a number of questions:
Does your spouse have an attorney?
Do you have children, shared property and assets or other factors that make splitting up complex?
Are you and your spouse able to communicate in a civil manner?
Even if your case seems straightforward and you have little shared property and no children, having an attorney review everything before your divorce becomes final is still a good idea to ensure assets are distributed equitably and help you avoid mistakes that can delay the process. It’s important to remember that even if you’re filing for no-fault divorce, you can still encounter frustrating roadblocks if a complaint is filed incorrectly or your spouse does not consent to the divorce.
Benefits of Hiring a Divorce Attorney
Many people file for divorce without the assistance of an attorney in order to cut costs, but having a lawyer handle your divorce can save you money, time and stress in the long run. Ending a marriage affects multiple aspects of your life, and the consequences of making mistakes or agreeing to unfavorable terms can be devastating and long-lasting. For example, a law firm that also provides estate planning services is a valuable resource when it comes to creating a new will and determining how your assets will be distributed in the event of your passing.
Even if you are in the initial stages of looking at divorce as an option, consider scheduling a consultation with an attorney–there are plenty of affordable divorce lawyers who will assess the complexity of your case and advise you on the best course of action to protect your rights and interests. From filing a divorce complaint with the Court of Common Pleas in your county to handling negotiations with your spouse, an attorney can provide the support and advice you need to make the process run more smoothly from beginning to end.
Whether you have questions about how to proceed with a divorce or need a divorce attorney to represent you in a challenging at-fault divorce case, our knowledgeable and understanding legal team at Carosella & Associates can help.
The Pennsylvania Department of Transportation (PennDOT) places points on your driving record if you are convicted of certain traffic violations. Accumulation of these points can lead to higher auto insurance premiums and license suspension, which can seriously impact your finances and affect your ability to get to work. If you’re facing points for serious traffic violations or multiple minor violations, an experienced local defense attorney may be able to get charges reduced or dismissed, lower the number of points that are placed on your driving record, and help you avoid costly fines, insurance rate increases and possible license suspension.
How Does the Point System Affect Pennsylvania Drivers?
The purpose of the PA point system is to help motorists improve their driving habits and keep the roads as safe as possible. Violations that can result in points being placed on your driving record include:
Failure to yield to a pedestrian using a crosswalk: 2 points
Failure to stop at a stop sign or red light: 3 points
Careless driving: 3 points
Failure to stop for a school bus with red lights flashing: 5 points and 60-day license suspension
Speeding: Number of points depends on how fast you were going and whether you were driving in a school or work zone
Although a few points may not seem like a big deal, they can accumulate fast. If you reach six or more points on your driving record, PennDOT will take corrective action.
When your driving record reaches six or more points for the first time, you are required to take a written examination. If you successfully pass the examination within 30 days, you can avoid driver’s license suspension and have two points removed from your record. The second time six points are reached, you face a 15-day license suspension and must take an on-road driving test. The third time six points are reached you are subject to a PennDOT hearing. If your driving record reaches 11 or more points, your license will be suspended automatically.
Points for Excessive Speeding
If you exceeded the posted speed limit by 31 MPH or more, you may be charged with excessive speeding and receive written notice of a mandatory PennDOT hearing. At the hearing, a PennDOT examiner will review your driving record and recommend that you take an on-road driving test or have your license suspended for 15 days. If you do not attend the hearing, your license will automatically be suspended for 60 days and you will receive five points on your driving record. At any PennDOT hearing, it is vital to have an experienced traffic violations lawyer by your side to protect your rights and minimize the amount of points placed your driving record.
Avoiding and Removing Points
If you haven’t had a traffic conviction for 12 consecutive months after the date of your last offense, you may have three points taken off your record.
The best way to avoid accumulation of points is to drive safely and follow all traffic laws, but mistakes happen. Seeking the counsel of an attorney who is well-versed in state and local traffic law can mean the difference between losing your license or staying on the road. Carosella & Associates’ skilled defense attorneys in West Chester will fight to protect your rights and help you win your case.
Whether it is a dissatisfied customer, someone who claims they got hurt on your property, or a disgruntled employee, any business can be vulnerable to being sued for a multitude of reasons. It is vital to know what to do if your business is being sued to avoid any costly mistakes or legal issues that may arise. Experienced business attorneys can help you understand what you are up against, negotiate on your behalf and develop effective strategies to protect your livelihood and your reputation.
1. Do not Ignore a Demand Letter or Formal Complaint
You may receive a demand letter before being formally sued, which typically comes from a person or business who is requesting that you take corrective action to resolve or fix an issue. Although a demand letter is not a lawsuit, consulting lawyers who are well-versed in small business legal matters can help you decide how to respond and help you reach an agreement and avoid being sued altogether. If you are served with a formal complaint, review it immediately and find out how soon you must respond.
2. Contact an Attorney
It is rarely a good idea to communicate directly with a plaintiff, their attorney, or their insurance company. The sooner you contact an attorney, the more time your lawyer has to gather information, review the facts of your case, interview witnesses, and develop a defense strategy with you. Be candid with your lawyer about everything pertaining to the lawsuit. Being honest with an attorney who you can trust and rely on can ensure that you receive the best legal representation possible. Keeping secrets will only make your case vulnerable to surprises that could affect the outcome of the case.
3. Contact Your Insurance Agent
It is important to take action quickly and notify your insurance company promptly to make sure your insurance coverage is preserved. Depending on the specific situation, there are various types of insurance policies that may cover you in the event of a lawsuit. Third-party injury claims are typically covered by general liability insurance and lawsuits brought by employees may be covered by employment practices liability insurance, which is sometimes included in workers’ compensation policies. If you are a member of a union, trade association or other professional organization, check to see if they have policies available that may cover your business if you are sued. Make sure you, your attorney and insurance agent review and verify all policies carefully.
Unfortunately, your own insurance company may not have your best interests at heart. Even if your insurance company’s counsel is involved in defending your case, having your own lawyer to review contracts and potential settlement agreements can ensure that your rights and interests are protected.
At Carosella & Associates, our experienced team is dedicated to providing top-notch legal representation that will protect your rights and interests. Our skilled business lawyers in West Chester can help you find effective solutions for any legal situation that may arise and work toward the best possible outcome for your case.
Issues surrounding divorce and child custody can be challenging. Having an experienced attorney prepare a parenting plan not only outlines how your children will be cared for, it shows that your children are a priority and you are dedicated to putting their interests and well-being first. An experienced divorce attorney will determine the specifics that should be included in your parenting plan and help you work out the details of how you will co-parent with your soon-to-be ex-spouse.
Vital Elements of a Parenting Plan
Each family situation is unique and there are many different factors that affect your parenting plan. Your children’s ages, school schedules and parents’ work schedules are essential issues to take into consideration when creating a plan that will run smoothly.
1. Create a parenting schedule. One of the most important parts of your parenting plan should include the details on how you and your co-parent will physically care for your children. If possible, work with each other to coordinate schedules and come up with a plan that allows both parents to spend plenty of time with the children. Negotiating custody for holidays, vacations and birthdays can be particularly contentious, especially when a schedule for these special days isn’t fully settled in advance. Your family law attorney, who is well equipped to anticipate contentious issues, will be able to handle negotiations regarding issues of custody and can make it easier to come to a fair agreement and help both parties avoid conflict and stress.
2. Outline plans for making big decisions. Education, healthcare, religious practices, and discipline are just a few important issues that should be discussed and included in your parenting plan. Negotiating these decisions ahead of time and including specifics about how they will be handled can facilitate better communication if problems arise down the road. Your attorney will advise you on how to move forward if you and your co-parent can’t come to a reasonable agreement on these decisions.
3. Address child-related expenses. Finances are often a source of serious dispute when it comes to divorce and child custody. That’s why it’s vital to have an attorney help you develop a specific plan that lays out clear expectations about how your children will be supported. You may decide that certain expenses can be split 50/50 while others may be divided differently. Medical insurance, life insurance and estate planning services are also vital subjects that your attorney should help you address in a parenting plan, especially if you have a child who may benefit from having a special needs trust for their future care.
You and your co-parent may not be together anymore but as long as it’s safe, children deserve to have a close, loving relationship with both of their parents. Seeking the counsel of a divorce attorney in West Chester who is well-versed in the nuances of family law will ensure that your parenting plan addresses important details you may have missed. At Carosella & Associates, our experienced attorneys will guide you in creating a plan that clearly defines rules, expectations and boundaries while keeping your children’s best interests in mind.
Many real estate transactions may seem straightforward, but all kinds of pitfalls can arise that may make or break a deal. One important document that has the potential to get you in a bind is the letter of intent. You may not think of a simple letter as a legally binding contract, but sometimes it can be. To ensure your interests are protected, it’s vital to seek the counsel of an experienced contract attorney who is well-versed in Pennsylvania law to draft and review all documents involved in your real estate transaction.
What is a letter of intent?
A letter of intent is an informal document that establishes certain terms of a proposed deal. They are commonly used in commercial real estate transactions, but may be utilized in more complex residential deals such as FSBO transactions that involve selling or buying property without a real estate agent. Letters of intent do have advantages—they can get the ball rolling on a real estate deal, help buyers provide documentation to secure financing and set forth terms that can be negotiated before a legally binding real estate purchase agreement is drafted.
How can a letter of intent be legally binding?
Under Pennsylvania law, a letter of intent can be legally enforceable if it outlines crucial terms of a real estate deal, including purchase price, property description, the buyer’s and seller’s names and a specific closing date. A letter of intent must clearly state that the parties do not intend for it to be legally binding in order for it to avoid becoming enforceable down the road.
A skilled real estate attorney will know the specific language to include in your letter of intent to ensure that it is non-binding. Your letter of intent should clearly state that the deal is contingent upon all parties entering into a fully negotiated and executed final agreement, which can protect you from being legally bound by terms set forth in the letter. Your lawyer may also include other items, such as a specific date for buyers to complete due diligence to prevent the transaction from dragging on or having the buyer turn around and say the letter of intent is legally binding months later.
Do you need a letter of intent for your real estate transaction?
A real estate lawyer in PA can also advise you on whether you need a letter of intent at all. Depending on the circumstances, if all parties are satisfied with the initial terms, a letter of intent may not be necessary.
A Real Estate Lawyer Will Protect Your Rights and Interests
Whether you’re buying or selling a home or commercial property, our West Chester real estate lawyers provide invaluable legal advice and resources that will save you time and money and help you avoid common mistakes that occur during the real estate transaction process. At Carosella & Associates, we guide you through the process every step of the way and help make your real estate transaction smooth sailing from start to finish.
Whether you’re just starting out or you are a seasoned business owner, making sure your commercial lease is beneficial to you as a tenant is vital. There are several types of commercial leases, and some important factors must be taken into account before you even think of signing anything. Seeking the counsel of an experienced real estate transaction lawyer to help you understand this complex contract and guide you through the negotiation process will ensure your rights and interests are protected.
Consider the Length of Your Commercial Lease
Depending on how well your business is established and what type of business you’re in, it may be a good idea to sign a short-term lease in the beginning. A term of one or two years with an option to renew is usually best for small businesses. That way you’re not committed for a long period of time but your lease gives you the option to stay if it’s a good fit. However, if your business is a very location-dependent establishment such as a restaurant, a long-term lease of five or more years may make more sense.
Do Your Research on Local Rent Costs, Zoning and Other Requirements
Check out comparable rents in the area and talk with your city or township zoning officer before you start negotiations on any lease. Zoning rules vary according to location, and if something is prohibited or you need to get a variance, it’s best to be aware of these facts and consult with an experienced attorney before you waste your time, money and energy negotiating a commercial lease.
Some commercial leases require the tenant to be responsible for property taxes, utilities, maintenance, repairs and any damage to the property, including costly expenses such as fixing or repairing HVAC, plumbing and electrical systems. If you decide to sign a long-term lease, it is essential to insist on certain concessions from the landlord. This means asking for items in relation to the length of the lease such as move-in allowances, free rent and renovations or improvements to the property at the landlord’s expense. A knowledgeable lawyer for contractswill advise you on which modifications to the lease will benefit your unique situation and ensure that the contract you end up signing is in your best interest.
Include Important Clauses
There are various clauses to protect your interests that should be included in any commercial lease. Making sure the lease includes a clause that allows you to sublease the property is important in case your business needs to relocate or close before the term expires. A co-tenancy clause will allow you to break the lease if a large anchor tenant that affects your business moves out.
Seek the Assistance of a Qualified Attorney
Leases are legal contracts and should be thoroughly scrutinized and understood before you even consider signing. Carosella & Associates’ real estate and business lawyers at our law firm in West Chester will ensure you get the best possible deal for your particular situation.