What Is Bankruptcy? Bankruptcy is a method--put in place by federal law--for individuals and businesses to discharge their debts. Bankruptcy can be confusing as certain kinds of debts cannot be discharged, while other kinds may only be disposed of subject to special terms and conditions. If a person can prove that they are bankrupt, however, [...]
What Is A Trade Secret? A “trade secret” is a little like McDonald’s “special sauce” or Kentucky Fried Chicken’s “11 secret spices.” For a fast food restaurant, it’s an ingredient or recipe--for a real estate agent, it might be a sales formula or lead-generation system. In the Fortune 500 context, Tesla’s new battery technology or [...]
How Can I Organize My Small Business? If you’re reading this, odds are you own a small business or you’re seriously considering starting one. You’ve probably spent years pulling together your initial funding, drafting a business plan, looking at commercial real-estate, and doing all the other myriad tasks required to get a new venture up, [...]
What Is A Foreclosure? If you’re reading this, odds are you already know what a foreclosure is and how it may affect your life. Nevertheless, a brief review might help explain the issue in a little more detail. Put simply, a foreclosure is the legal process by which a bank or other lender may take [...]
What Is A “Power of Attorney?” A “power of attorney” is a legal device used to delegate authority from one person to another. The person conferring the power, referred to in the law as a “principal,” can determine (within certain legal limits) the scope of authority given to the other party--called an “agent.” How the [...]
Your real estate attorney is your legal protector when you enter the unfamiliar world of home buying. A real estate attorney is not required by Florida law, but hiring a real estate lawyer is still a very good idea. Your real estate attorney is your guide and your hero through the paper storm of buying [...]
Today we bring you a very special blog to help you plan your estate and care for your family after your death. We will introduce the life-changing document, the Irrevocable Life Insurance trust. The founder of Principal Law, Shivon Patel initially wrote most of this blog as an article last year. We have changed it. [...]
Protection for your child is an easy matter when they are minors. But, how do you give your baby legal protection when he or she reaches 18? More over, how do you protect them if they are unconscious or seriously hurt? At Principal Law, we know your children doesn't stop needing your protection just because [...]
Did you know your child becomes a legal stranger to you the minute he or she turns 18? Legal adulthood happens at 18 in most states. If there is an emergency medical situation, you have no more legal rights over him or her than over a stranger you never met or the 40-year-old friend who [...]
Father's Day is our first order of business in today's blog. We honor Father's Day as a day of tribute, not only to fathers but to all the men who have influenced our lives with kindness, wise counsel, and generosity. Principal Law wishes a Happy Father’s Day. And special wishes to the step-fathers, brothers-in-law, uncles, [...]
