A fiduciary duty is a type of law applied to individuals who act on behalf of and in the best interests of someone or something else. Essentially, it is an obligation of trust from the person acting on behalf of another aka fiduciary, to the one for whom they are acting. In terms of businesses and corporations, a fiduciary duty is an obligation to act in good faith, with the care of a reasonable person in a similar position and the belief that their decisions are in the best interests of the company and its shareholders.
Probate is a court case that is sometimes necessary in order for an estate's executor or administrator to collect the property of a deceased individual the decedent and distribute that property to the decedent's heirs and beneficiaries. A probate case is typically opened in the state in which the decedent primarily resided. However, if the decedent owned property in states other than his or her primary residence, the executor or administrator may need to open secondary probate cases in those states in order to gain control of the property in those states. These cases are known as "ancillary probate" cases.
Many attorneys offer both free consultations and paid consultations, depending on what you are trying to accomplish. The key to understanding the difference, is that generally attorneys will not give legal advice without being first hired by the client.
A treatment plan is a detailed document that the facility must create within the first three days upon admittance of a patient that has been involuntarily committed. Treatment plans are shaped to each patient’s needs, therefore they vary from person to person. Once the treatment plan is complete (which should be in the first three days), the facility is obligated to give you a copy of the entire plan.
In this article we discuss business succession planning and explain how to use buy-sell agreements to plan for an owner’s retirement. We explain three different options to plan for a business owner’s retirement with buy-sell agreements, including: the company purchasing a retiring owners shares through a lump sum payment, the company purchasing a retiring owner’s shares through installment payments, and the gradual transfer of a retiring owner’s shares to the next generation.