How to Choose the Right Executor for Your Estate

An executor is the person in charge of administering a deceased person’s estate and paying their creditors. Choosing a competent executor can make things easier for your family and help them avoid problems that may arise after your passing. Talking with an estate planning lawyer about who you think is right for the job can give you a more objective perspective and help you choose an executor who will settle your estate in a harmonious and effective manner.

Things to Consider When Choosing an Executor

Depending on the complexity of the estate and any issues that may arise, the job of an executor can last for more than a year. Choosing the right person can mean the difference between settling an estate harmoniously and efficiently and getting bogged down in a time-consuming legal quagmire. A good executor should be honest, responsible, well-organized, diplomatic and methodical about properly filing paperwork and meeting deadlines. An executor gets paid a commission for doing their work; and you should expect them to take their responsibilities as seriously as they would for any other job.

It’s also important to keep in mind that you need to ask potential executors and alternates before naming them. If the person(s) you choose is unaware, they may be in for a rude awakening upon your passing.

Should You Choose A Family Member?

Many people think of choosing a close family member such as a spouse or child as executor because they assume that the person will understand your intentions and have easy access to the assets that must be distributed. Each situation is unique, and one of the most vital things to consider is whether the person you choose has the time and gumption to handle all that is involved in the distribution of an estate.

Take some time to consider different aspects of your family dynamics. If you have children and know that they do not see eye to eye, you may want to avoid selecting one of them as your executor.  If you come to the conclusion that a close friend, accountant or wills and trusts attorney would be a better choice, it’s probably best to go with your gut and avoid choosing a family member.

Choosing More Than One Executor

Some people feel that they need to name all of their children as co-executors to treat them equally. Generally, this is not recommended by probate and estate lawyers. Siblings often get into conflict about various issues surrounding an estate or one person ends up doing the majority of the work. Not only that, when important documents need to be signed everyone must be rounded up to collect signatures. Naming just one child as executor and the others as alternates can preserve harmony in the family and make the distribution of your estate run more smoothly.

At Carosella & Associates, our experienced estate planning attorneys can provide you with the counsel you need to help you make an informed decision about choosing an executor for your estate.

This blog was originally posted at https://carosella.com/how-to-choose-the-right-executor-for-your-estate/

Easements: What You Should Know Before You Buy

Before signing a real estate purchase agreement, it is important to find out if an easement exists on a property so you have an understanding of the impact it may have on the use of the home or property. An experienced real estate lawyer can help you understand the different types of easements and advise you on how they may affect your property.

What Is An Easement?

Sometimes referred to as right-of-way, an affirmative easement is a property right that gives the easement holder an interest in land that is owned by someone else. Negative easements usually place restrictions on what can be done on nearby property, such as putting height limits on a building to preserve a view. A Pennsylvania easement is typcially created by written and signed agreement or by a deed or grant of easement.

Easement in Gross

An easement in gross is attached to an owner of a property; not the land itself. For example, if you have an easement in gross with your neighbor that allows you to pass through their yard, that easement could be revoked if the neighbor sells their property. If you’re considering buying a house, it is vital to find out if it has an easement in gross, as they are typically non-transferrable. However, the transfer of easements in gross for commercial uses such as electrical lines and railroads is often permitted.

Easement by Necessity

These types of easements are ‘appurtenant,’ which means that they benefit a specific property, not an individual person. Easements by necessity are typically used to provide access to a landlocked piece of property when a landowner divides a parcel of land and a portion of it no longer has access to a public street. If you’re purchasing property to build a home on land that has been split up by an owner, seeking the counsel of a West Chester real estate attorney will ensure that any necessary easements are properly addressed.

Easement by Prescription

An easement by prescription falls under the legal concept of “adverse possession”.  It allows a person to gain use or ownership rights to another’s property if they have openly and continuously used the land for a certain amount of years. Easements by prescription often happen when rural landowners fail to realize that a fence has been erected or part of their land has been used by a neighbor for many years.

Easement by Estoppel

When a landowner misrepresents the existence of an easement when selling a property, the courts can step in and create an easement. If the court determines that the buyer acted reasonably and relied on what the seller promised, the court can create an easement by estoppel. Having contract attorneys thoroughly review all documents surrounding a real estate transaction can help you avoid having to deal with the hassle of getting an easement down the road.

At Carosella & Associates, our Pennsylvania real estate lawyers protect your interests and assist you with your real estate transaction from start to finish.

This blog was originally posted at https://carosella.com/easements-what-you-should-know-before-you-buy/

Things you Need to Look for in a Franchise Agreement

Becoming a franchisee can be a great way to start a business but it’s important to make sure you read the fine print before committing to anything. Seasoned contract law attorneys can help you understand your obligations under a franchising agreement and advise you on the best course of action to ensure your rights are protected.

What Is A Franchise Agreement?

A franchise agreement is a legally binding contract that lays out the terms of the arrangement between you and a prospective franchisor. Franchise agreements are usually valid for 5-10 years with an optional renewal clause. It’s vital to seek the counsel of experienced business lawyers who are well-versed in handling franchising contracts, as a lengthy commitment like this can box you in for many years and the manner in which your business is run is often at the discretion of the franchisor.

Common Elements of a Franchise Agreement

Fees and Royalties: The agreement should lay out any up-front fees you will be required to pay. It must also clearly state the amounts of any ongoing royalty payments and marketing fund contributions.

Build Out: Many franchise agreements include an estimate of the required expenditure for building out a physical location and other expenses such as signage.

Territory: The agreement should define the terms of your geographical territory and outline whether it is shared or exclusive.

Supplies: This section usually provides the specifics on how supplies are provided to the franchise and supply costs the franchisee may be responsible for.

Insurance: Most franchisors require that a franchisee acquire certain types and amounts of liability insurance.

Right of Inspection: Many franchisors reserve the right to inspect your premises and other aspects of the business at any time.

Non-compete Clause/Confidentiality: A non-compete clause prohibits franchisees from starting a similar business if they quit the franchise. You will also be obligated to keep details about the franchise and its operations confidential during your time of ownership and after departure.

Termination: If you or the franchisor chooses not to renew your contract, the agreement should clarify what happens after termination. Depending on the type of business, these terms will vary but often include first right of refusal, which means that the franchisor has the right to buy the business back from you before you sell it to a third party. The franchisor may also reserve the right to repossess equipment and supplies. This is one of the most vital elements of a franchise agreement, so have your attorney goes over it with a fine-tooth-comb is essential to ensure your rights are protected should the agreement be terminated.

Operations Manual

Most franchises have an operations manual that dictates how the business must be run from day-to-day. Franchisors usually reserve the right to amend the operations manual at their discretion, so it is good idea to have your attorney review this as well.

If you’re considering purchasing a franchise, our  business lawyers in West Chester provide top-notch legal counsel that ensures all your legal bases are covered.

This blog was originally posted at https://carosella.com/things-you-need-to-look-for-in-a-franchise-agreement/