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 [...]
Labor Day marks the end of summer and for many, it is the last care-free summer holiday before fall schedules and school terms take over their lives. Mysterious Holiday: Labor Day Labor Day History and its Heritage Touches Our Working Life Every Day Labor Day is such a mysterious and perhaps misunderstood holiday [...]
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 [...]
A simple contingency written into your contract can assure you of special protection in a home-buying situation. Principal Law has stated previously that you should have a real estate attorney represent you when you buy a home. Insure this influence by including a contingency for your attorney’s review of the contract before it becomes binding. [...]
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 [...]
