Why You Need an Attorney When Selling Your Business

When selling a business, it is crucial to ensure all your legal bases are covered and you receive the maximum value of what it is worth. Having the experience and knowledge of the best contract lawyers and business attorneys in your corner can make the process easier and less stressful. If you are considering selling your business, these are just a few ways an attorney can help safeguard your interests and assist you with the process.

Issues to Consider When Selling Your Business

Business Valuation

Before you sell your business, it is important to make sure it is accurately valued. You do not want to short change yourself but overvaluing it can result in minimal interest from potential buyers.  There are several business valuation methods that can be used. A skilled business liability lawyer can take a comprehensive look at all aspects of your business and determine what it is worth.

Assets and Debts

When you are getting ready to sell, analyzing your assets and debts and determining how to handle them is a tall order. Estate planning and living trust lawyers often advise small business owners to create a business succession plan as soon as they open their doors. Although there is no way to predict the future, a business succession plan can provide the framework, processes, and procedures for how your business will be sold or transitioned.

Business Purchase Agreement

Another vital element of the sale of a business is a contract that outlines the terms of the sale. Details specific to your industry are important in this contract, so you will want to find an attorney who is well-versed in your line of work. For example, If your business involves the sale of investment properties, it is probably a good idea to have business lawyers experienced in real estate help you draft your purchase agreement. Generally, a business purchase agreement should include:

• A detailed description of the goods, services, real estate, and personal property such as furniture and equipment that is being sold with the company
• The length of time the buyer has to inspect any real property, including product or merchandise
• The manner in which the buyer intends to pay for the business
• The total amount due and the date or time frame in which payment is due
• A clause stating that all parties must agree to and approve of any changes to the agreement in writing
• The state in which the agreement is being executed
• If the business is a corporation, the minutes of the corporation’s authorization of the sale
• Any warranty of the seller, which is intended to protect all parties (optional)

The particulars of your business purchase agreement will depend on your specific circumstances and the type of business you own.

If you need assistance with selling your business or you are interested in learning more about business succession planning, our Pennsylvania real estate lawyers, business attorneys, and estate planning attorneys work collaboratively to help you find practical solutions that meet your specific needs.

This blog was originally posted at https://carosella.com/blog/why-you-need-an-attorney-when-selling-your-business/

Choosing a Guardian for Minor Children in Your Estate Plan

Selecting a guardian for young children is a big decision that can seem overwhelming. An estate planning lawyer can help you understand important elements to consider when choosing a guardian and ensure all relevant issues concerning your children are addressed in your estate plan.

Factors to Consider When Choosing a Guardian

Before you name someone to be your children’s guardian, you have to sit down and think about who would be well suited for the job and willing to do it. In addition to the person’s age and relationship with your kids, there many are other important factors to take into consideration, including:

Parenting skills – Your sister or best friend may be great for an afternoon of babysitting, but who do you believe would best raise your kids and care for them 24/7? You definitely want to pick someone who has shown that they are good with kids and can love and care for them as a parent would.

Living situation – If something were to happen to you, your children would most likely end up living in a guardian’s home. Your children will already be going through a difficult time, so it is critical to think about how to make this difficult transition easier on them.  Some important things to consider are:

• Where does the guardian live?
• Is the neighborhood safe?
• Would your children need to change schools? How are the schools in their area?
• Is their living situation stable and healthy?

These are just a few things to think about – you know your kids and are likely aware of what the best environment for them would be to grow and thrive.

Values – Choose a guardian whose moral compass lines up with yours. If you have certain religious beliefs, do you want your children to continue to be raised with the same principles? Although someone’s values may not align 100% with yours, it is possible to find someone you respect and trust who will raise your children with a solid moral foundation.

Financial stability – Your children’s guardian does not have to be wealthy, but it is important to think about how caring for children will raise their living costs. This is just one reason why it is important to have life insurance policies. You can also set up a trust, which makes it much easier for their guardian to raise them in a financially stable environment while safeguarding your children’s financial security. Talking to a living trust attorney about your options can help you make informed decisions about whether you want your children’s guardian to also control the assets in the trust as well. If not, you can choose someone else to handle their financial affairs.

What if I’m Divorced?

If you and your spouse are no longer together, it is still a good idea to get on the same page about who to name as guardians if you both pass away. Ideally, you should make an effort to hash it out with your local divorce attorneys and put it in your final divorce settlement agreement.  Even if you disagree, you are still entitled to name whomever you choose in your updated estate plan.

Typically, if one parent passes away, the other parent maintains custody of the children. If you have full custody of your children and do not believe your ex can care for your children due to criminal conduct, addiction, or domestic violence, consult a West Chester divorce lawyer to find out what steps you can take to make this clear in your estate plan.

Although you may not want to think about what may happen if you are gone, making plans to ensure your children are taken care of in the event of your untimely death is in an essential investment in their well-being.

This blog was originally posted at https://carosella.com/blog/choosing-a-guardian-for-minor-children-in-your-estate-plan/

How a Real Estate Lawyer Can Help with Zoning Appeals

Zoning and other land use issues are often complex and can cause delays and financial losses for businesses and individuals. Pennsylvania real estate lawyers help clients with land use applications, variances, zoning appeals, and issues involving property line and easement disputes. If you are dealing with any of these issues, it is important to find an attorney who is familiar with local, state, and federal laws and regulations.

What are Zoning Ordinances?

Zoning ordinances are rules and standards for how property in specific locations may be used for residential or commercial purposes. Zoning standards usually regulate building height, lot size, and placement of structures. Zoning ordinances typically outline the procedures for handling zoning rule infractions and penalties.

Zoning Ordinances are Usually Local

Property owners may go to a local zoning board or city council to request a specific use for their property or to seek variances for matters such as building height. An owner may also go to a zoning board to appeal a decision that has already been made by a local town or city’s building department. Although it is common for individuals to handle zoning appeals on their own, having a lawyer for real estate or business liability lawyer who is well-versed in local zoning laws can help you avoid costly, unnecessary delays and ensure your interests are protected.

Why Do I Need a Real Estate Lawyer to Help with Zoning Problems?

An attorney can assist you with the zoning process from beginning to end, and may be able to help you avoid the need for an appeal. They can assist you with your initial land use application, help you apply for variances, and advise you of the best course of action to meet your goals. It is essential to approach land use issues and disputes in the right way and to properly follow all procedures and deadlines.

Zoning Appeal Hearings

If you must take your case to court or before an appeals board, it is critical to be specific about your requests and why you are asking for them. The best contract lawyers advise clients to put everything in writing. One way to get the ball rolling on your appeal is to have your attorney write a letter to the board in advance that outlines what you are looking for and why, and how it may benefit the community. This gives zoning board members a chance to review (and sometimes discuss) your case in advance.

Zoning requests often affect the people who live near a property.  Your lawyer may want to talk with neighbors and other members of the community to get their input on your zoning request. If they are in support of your intentions, your attorney may request letters to submit to the appeals board or even ask them to attend the hearing on your behalf. Having the support of the community can go a long way to achieving the goal of getting your zoning request approved.

Zoning appeals usually come with very tight deadlines. Missing this deadline could mean that your appeal will not be heard at all. Knowing how the process works is critical – an attorney can help you understand the complexities of the process and represent your interests at the hearing.

If you need help with legal matters surrounding real estate, business, or estate planning, our collaborative team of property lawyers, business attorneys, and living trusts lawyers provide the top-notch legal representation you can trust.

This blog was originally posted at https://carosella.com/blog/how-a-real-estate-lawyer-can-help-with-zoning-appeals/