Displaying items by tag: utah county lawyer

The Basics of Bankruptcy

 

As your bills pile up and the amount of your debt increases you may be faced with a tough decision. Bankruptcy is always an option for those who just can’t seem to find a way to make ends meet and pay their debts on time. The bankruptcy attorneys at Robinson, Seiler & Anderson in Provo can help you in deciding if filing for bankruptcy is right for you and your situation. There are some basics about bankruptcy you should familiarize yourself with before you go ahead with the filing. They are listed below. 

 

Not Everything is Discharged

When filing for Chapter 7 bankruptcy you need to be aware that not all of your debts will be discharged or forgiven. Some of these include most student loans, real estate liens (on things like your mortgage debt), alimony, child support, and most taxes. Furthermore, creditors can object to the discharge of the debt they are owed. If they win, you’ll still owe the money.

 

Bankruptcy Ruins your Credit

Most people know that filing bankruptcy can ruin your credit. What you don’t realize is that it can stay on your credit report up to ten years. During that time, buying a house, getting a credit card, or even landing certain jobs could be difficult. Additionally, the filing becomes public record.

 

Your Income Matters

When you file for bankruptcy, the amount of money you make matters. Although anybody can file for bankruptcy, your income may disqualify you from filing for certain types of bankruptcy. You may not qualify to file for a Chapter 7 Bankruptcy and will have to file for a Chapter 13 bankruptcy instead. Talking with your bankruptcy attorney at Robinson, Seiler & Anderson in Provo will help you to decide which is better for your situation and why you may qualify for one and not the other.

 

Bankruptcy Doesn’t Solve all of your Problems

Just because you have filed for bankruptcy doesn’t mean you are out of trouble yet. The reason you got into this situation in the first place is due to bad budgeting and spending. If you continue this cycle you will find yourself in the same situation a few years after filing for bankruptcy. The only way to heal is to attack the root cause of your bankruptcy and change your behaviors. Learning to use a budget, tracking your spending, and avoiding debt are just a few things that can lead you toward financial health.

Ways to Finance your Business

 

When you are beginning the process of starting your own business there are several aspects you will need to educate yourself on. One of those aspects is how you will be financing your business. Getting your business started can take a lot of time, effort, and money. Speaking with an attorney at Robinson, Seiler & Anderson Law Firm in Provo, Utah can help you get started off on the right foot. Below we have provided some of the various ways you could finance your business in the startup process.

 

Debt Financing

While you may have not heard of this type of financing by this term, you actually have used this type of financing before if you have a mortgage or a car loan. Debt financing comes from a bank or other lending institution. When you decide that you need a loan, you head to the bank and complete an application. If your business is in the earliest stages of development, the bank will check your personal credit. For businesses that have a more complicated corporate structure, or have been in existence for an extended period time, banks will check other sources.

 

Equity Financing

Equity financing comes from investors, often called venture capitalists or angel investors. A venture capitalist is often a firm, rather than an individual. The biggest advantage is that you do not have to pay back the money. If your business enters bankruptcy, your investor or investors are not creditors. They are part-owners in your company, and because of that, their money is lost along with your company.

 

Mezzanine Capital

Mezzanine capital often combines the best features of equity and debt financing. This type of loan is appropriate for a new company that is already showing growth. Banks are reluctant to lend to a company that does not have financial data, lenders are often looking for at least three years of financial data to show the growth and stability of your business.

 

Deciding which route to take when it comes to financing your business can highly depend on your situation and what the best outcome would be for you and your business in the future. Talking to an attorney at Robinson, Seiler & Anderson Law Firm in Provo, Utah can help you in making the right decision when it comes to the financing of your business. Call us today to schedule a consultation.

How to Protect your Assets as a Business Owner

 

As a business owner you will need to make sure your assets are covered and protected. If you assets are tied into your business and your business falls on hard times, your assets could be at risk. Talking with the lawyers at Robinson, Seiler & Anderson in Provo can help you in making a plan to protect your assets. Listed below are some strategies you may want to consider when it comes to making sure your assets are protected.

 

Choose the Right Kind of Entity

Most are often tempted to go with a sole proprietorship when setting up their business. This isn’t the best option when it comes to protecting your assets. With a sole proprietorship, your personal assets are completely exposed to a potential lawsuit. Setting up an entity, such as an S corporation or limited liability company (LLC), is an important step in the development of your business and protection of your assets.

 

Follow the Proper Procedures

Your assets could be at risk if you don’t follow the proper procedures in setting up your business or if you act negligently or fraudulently. This can be avoided by having good lease agreements for your rentals, placing property and equipment titles in the company name, not relying on emails for terms in an important relationship, and never hiring people to work under the table. Only use licensed, bonded, and/or insured professionals to help you in your business.

 

Purchase Insurance

Insurance is an important part of your business and should be included in your startup plan and budgeting. Insurance gives you the ability to take care of an incident in your business and gives plaintiffs another target. You also have the option of purchasing an Umbrella Insurance Policy. This type of insurance can be personal or business, and it functions as an “umbrella” over any other type of insurance you may carry. It costs an average of $300 to $500 a year for $1 million to $2 million in coverage.  

 

Consult with your Lawyer

The best way to make sure your assets are protected is by speaking with your lawyer at Robinson, Seiler & Anderson in Provo. They can guide you through the process of setting up your entity and making sure your assets are covered in all aspects. Allowing us to draft your documents and making sure you are making all of the necessary preparations is the best way to know that you and your assets are protected.

Types of Securities Fraud

 

Understanding the different types of securities fraud can help you in detecting it. Securities fraud occurs when someone makes a false statement about a company or the value of its stock, and others makes financial decisions based on the false information. Talking to one of the attorneys at Robinson, Seiler & Anderson in Utah County can inform you on what to do when you encounter securities fraud. Listed below are some of the types of securities fraud you should be on the lookout for.

 

Fraud by the Company

The first type of securities fraud occurs when an officer or director of a corporation doesn’t accurately report the company's financial information to its shareholders. This can raise the worth of the company’s stock and encourage investors to buy shares of an unhealthy company. If the company goes bankrupt the people who bought shares based on false information lose their investment completely.

 

False Information from a Third Party

When a third party gives out false information about the stock market or a particular company or industry is a common type of securities fraud. Also known as “pump and dump” in this scheme, a person will find a small, unknown company with cheap stock and buy large amounts of its shares. The perpetrator will then send out false information about the company to encourage others to buy the stock, driving up the price. Once the price of the stock is high enough, the perpetrator sells his or her shares for a profit.

 

Insider Trading

Insider trading occurs when someone with confidential information about a company's financial state uses that information to make decisions about whether to buy or sell the stock before that information is disclosed to the public. Buying or selling stock before disclosing information to the board is known as insider trading.

 

Securities fraud can be easy to avoid and detect with the help of one of the experienced attorneys at Robinson, Seiler & Anderson in Utah County. For more information about our firm and how we can help you in your business give us a call today.

What you Need to Know about Trusts

 

A Trust is a legal arrangement in which a certain amount of property or assets is held by a person or entity, such as a bank, for the benefit of one or more other people. Knowing the ins and outs of a trust and how it can be beneficial to you and your family is a must before setting one up. Talking with the lawyers at Robinson, Seiler & Anderson in Provo can help you to figure out how a trust would work best for you and your situation. Below we have gathered some information on trusts to help you get a better idea of how they can work for you. 

 

 

Why you Need a Trust 

 

While there are a variety of reasons to create a trust we have come up with the most common reasons a trust could be helpful in your situation. 

 

  1. To maintain control of assets in the event of incompetence (if you become unable to manage your assets due to a decline in health or mental fitness)
  2. To save on estate taxes
  3. To avoid probate
  4. When significant amounts of assets are involved, Trusts may also be established to maintain control over assets even after the original owner has died, allowing the person who created the trust to choose where and to whom the assets can be used.

 

 

Participants in a Trust

 

There are 4 participants in a trusts, 

 

  1. The Grantor, the person who creates the Trust (also known as “donor,” “settlor,” or “trustor”)
  2. The Trustee: the person, people, or entity (such as a bank) that agrees to hold the property or assets (the grantor may be the Trustee)
  3. The Principal: the property or assets themselves, including money, which is held in the Trust and managed by the Trustee
  4. Beneficiary: the person or people who ultimately receive the property or assets in the Trust. 

 

 

Different Types of Trusts

 

There are a variety of types of trusts for you to choose from. Each one caters to an individual’s unique needs.  

 

  1. Living Trusts: when a Trust is created and then immediately become effective, it is known as a “Living Trust.” 
  2. Testamentary Trusts: when a Trust is created and then does not become effective until after your death, it is known as a “Testamentary Trusts.” In the case of testamentary Trust, you, as the person creating the trust, are called the “testator.” Testamentary Trusts are often created within Wills. 
  3. Revocable Trusts: you retain ownership and control of the property in the Trust and can change the terms of the Trust, including the Trustees and beneficiaries. 
  4. Irrevocable Trusts: you give ownership and control of the property in the Trust to others (Trustees) and therefore no longer own or control the property, thus making you unable to enact changes to the Trust. 

 

 

Know the facts about Trusts can give you a better idea as to how they work and what type of trust you may need. Schedule a consultation with one of our experienced lawyers at Robinson, Seiler & Anderson in Provo to learn more.

Types of Personal Injury Cases most Attorneys Accept

 

Have you been the victim of an accident recently? Are you wondering if you have the ability to submit a personal injury case? Calling the personal injury attorneys at Robinson, Seiler & Anderson in Provo can help you in determining what to do about your situation. Listed below are the most common personal injury cases most attorneys will accept.

 

Car Accident Cases

If you find yourself to be a victim of a car accident you may have the right to take the careless driver who caused the accident to court. A careless driver can (usually) be held financially and responsible for injuries stemming from a car accident. Make sure you gather all of the evidence and information you may need to help your case. These include pictures of the accident, doctor’s evaluations, names, insurance information, and witnesses willing to submit a testimony.

 

Medical Malpractice

Medical malpractice claims can arise when a doctor or other health care professional fails to provide competent and reasonably skilled care, and a patient is injured as a result. These cases are often complex and take a lot of time and effort of both your part and the attorneys. Having the experienced personal injury attorneys at Robinson, Seiler & Anderson in Provo can only help you in a situation like this.

 

Slip and Fall Cases

These cases are common when it comes to personal injury cases. Property owners have a legal duty to keep their premises reasonably safe and free of hazards, so that people who are on the property do not become injured. Of course, not all injuries that occur on the property will lead to liability. The evidence collected for the case and state law will have a large part in any slip and fall case.

 

Dog Bites

In most cases, the owners of a dog are financially responsible for bites and other injuries caused by the dog. The exact laws on owner responsibility do vary from state to state, though. In some cases, strict liability rules exist and the dog owner is going to be liable for dog bite damages even if the dog has never shown any aggression or propensity to bite in the past. In other states they have what is known as the “one bite rule” in which owners only become responsible for personal injury damages once there is a reason for those owners to know their dog is aggressive or prone to biting. Your attorney can inform you of all the ins and outs of a dog bite injury case according to your state’s laws.

 

For more information regarding personal injury cases and the types of cases we accept, call our office today to schedule a consultation with one of our personal injury attorneys.

Why you Should have an Attorney Draft your Legal Documents

 

When it comes to drafting legal documents you may want to consider having someone with years of experiences and expertise of state and federal law to do the work. It could be detrimental to you or your business if you decide to take on the task yourself. The lawyers at Robinson, Seiler & Anderson Law Firm in Provo, Utah have the expertise and experience you can trust when it comes to drafting legal documents. Below are just some of the reasons why you should have an attorney draft your Legal Documents.

 

Understanding and Including Necessary Terms

You may end up bound to terms that you don’t want. Without fully understanding the laws that may affect your business you may inadvertently not include terms in your agreement that are required by law. Some states have specific laws that require you to transact business in a particular manner, one that you may not agree with. These laws or/binding terms may have an effect on how you can transact business with your customers. Having an attorney make sure you are including and agreeing to all the necessary terms in your legal document will be nothing but beneficial.

 

Creating a Valid and Enforceable Agreement

When drafting your legal documents you want to make sure that what you are including in your legal documents are valid and enforceable. The purpose of a contract is to memorialize the agreement of the parties in writing, so there is no confusion as to each party’s obligation under the contract. If the contract is not legally valid it is not enforceable. Accordingly you would not be able to use the contract in court to enforce your rights under it and it is useless. The expertise of an attorney can ensure that your contract is valid and enforceable.

 

Making sure your Interests are Protected

You may not be protecting your interests. Without being familiar with contract law, a contract drafted by a non-lawyer may not protect your interests at all, especially if you are unaware of what rights you may have. Laws may need to be interpreted in order to determine your rights. The attorneys at Robinson, Seiler & Anderson Law Firm in Provo, Utah work hard to make sure you and your interests are protected when drafting legal documents.

 

Call our office today to learn more about the services we offer and how we can help you in all of your legal matters.

What to Know about Guardianship and Conservatorship

When you are working on your Estate Plan you might be faced with the decision of Guardianship and Conservatorship. To help you understand these aspects of your estate plan we at Robinson, Seiler & Anderson in Utah County have come up with some helpful facts that you should know about Guardianship and Conservatorship.

 

A guardian is a person appointed by the court to make healthcare and other mostly non-monetary decisions for someone who cannot make these types of decisions because of an injury, illness, or disability.

 

 A conservator is a person appointed by the court to take care of someone's finances when he or she cannot make these types of decisions because of an illness, injury, or disability.

 

You will need to have a Guardian or Conservatorship in the following cases:

·       Someone who is in a coma.

·       Someone who is mentally challenged.

·       Someone who has Alzheimer's disease or other forms of dementia.

·       Someone who has had a stroke.

·       Someone who has suffered a brain injury.

·       If a court finds that a person cannot make any or all of his or her important life decisions, that person is incapacitated.

 

If the court decides to appoint a guardian or conservator for an incapacitated person, the incapacitated person is called the ward. The court appoint both a guardian and a conservator if the court finds it appropriate. It is largely dependent on the situation you may find yourself in.

 

Who does the court appoint as a guardian or conservator?

 

·       The court's first choice is a close family member, usually a spouse or domestic partner, parent, or adult child.

·       If no close family member is available or suitable, the court will consider other relatives or friends.

·       If no family member or friend is available, the court will usually appoint a neutral, specially trained attorney who handles these matters on a regular basis.

 

Having a Guardianship or Conservatorship in place within your will is the easiest way to go, not only for you, but for your family as well. Meeting with the attorneys at Robinson, Seiler & Anderson in Utah County can help you in making this decision and explain which is most appropriate for your situation. Call us today to schedule a consultation.

Steps to Recovering after Bankruptcy

Life happens. Sometimes our financial decisions and life events that are beyond our control can lead to bankruptcy. Bankruptcy can help you more than hurt you depending on your situation. You will want to consult with a Bankruptcy Attorney at Robinson, Seiler & Anderson in Provo before filing for bankruptcy to make sure it is the right choice for you and your financial situation. If bankruptcy looks like the answer we have some steps for you to try to help you in recovering after bankruptcy.

 

Do a Self-Evaluation

After you go through the process of a bankruptcy you will want to take the time to do a self-evaluation to figure out how you got into this financial situation. Often times it is due to things beyond your control like health problems and divorce, which is understandable. If your financial situation is due to your bad spending habits now is the time to address those bad habits and make necessary changes. You don’t want to find yourself in a similar situation a few years down the road.

 

Avoid Lenders

Post-bankruptcy, you are particularly vulnerable to predatory lenders such as payday loans and rent-to-own retailers. You will want to avoid these types of businesses as they promise easy credit, but charge extremely high interest rates. You are also easy prey for “credit repair” businesses that promise for a fee to remove items from your credit report. No one can remove anything from your credit report unless it is an inaccurate item. No program or any amount of money can remove accurate items from your credit report.

 

Open a New Credit Line

Credit lines may be the reason you had got into such a bad financial situation in the first place, but if used correctly you can use it to repair your damaged credit. There are credit card issuers who will offer you a secured credit card just a few months after your bankruptcy. Secured credit cards typically have lower credit limits as you must provide a deposit which acts as your credit limit and higher than average interest rates. Nevertheless, they are important cards to get in order to re-establish a positive credit history. Secured credit cards can be used the same way as traditional credit cards. Secured credit cards also report to the credit bureaus just like a traditional credit card. After a few months of using a secured credit card and paying the bill on time every month, you should be able to obtain a traditional credit card.

 

Recovery after bankruptcy is going to take time and discipline. With the help of a bankruptcy attorney at Robinson, Seiler & Anderson in Provo you can improve your financial situation and turn your life around. Check out our website for more information on our firm.

What to do After a Motorcycle Accident

Motorcycle accidents can be catastrophic. You will need to be prepared no matter the outcome. We at Robinson, Seiler & Anderson in Provo can be there to help. We have experienced personal injury attorneys that can review your case and help you to obtain the compensation you need. Below are some steps for you to follow if you do find yourself in a motorcycle accident.

 

Report the Accident

Call 911 to report the accident, even if you are afraid you will be blamed. Many state laws require that you report an accident right away. Leaving the scene of an accident without waiting for the police to come is a crime in many states. Reporting the accident is also important if someone has been injured, and needs immediate medical attention. A police report will be necessary if your personal injury case gets to court. This will provide an accurate and truthful description of what happened.

 

See a Doctor

You will want to see a doctor as soon as possible after your accident. Even if you don’t have any noticeable injuries right away you will want to be evaluated to prevent injuries that can occur hours of even days afterward. A doctor will be able to provide you with a report of your injuries and how extensive they are.

 

Notify your Insurance Company

Notify either your insurance agent or your insurance company's claims office of the accident, and of the possibility of a claim. Instructions on how to report a claim-including the person or office to whom it must be reported-will be found in your insurance policy. You may be entitled to compensation to fix your motorcycle and get help paying for your injuries.

 

Contact your Attorney

You will want to contact your personal injury attorney at Robinson, Seiler & Anderson in Provo to find out what your rights are and how your case can progress to help you in getting the compensation you need. Our attorneys will let you know what you need to do to build a strong case. For more information on personal injury law and our firm, give us a call today.

View Our Testimonials Announcement

Norman H. Jackson, Utah Court of Appeals Judge, Retired, has joined the law firm of Robinson, Seiler & Anderson, LC, effective April 2017.  Judge Jackson was one of the seven founding Judges of the Utah Court of Appeals and served terms as Presiding and Associate Presiding Judge.
 
Judge Jackson was the senior attorney in a Richfield law firm for eighteen years.  The firm engaged in legal, business and tax cases, including practice before State and Federal Courts, U.S. Board of Land Appeals, Utah Public Service Commission and Arizona Corporation Commission.  Clients included counties, cities, banks department stores, communications and credit associations, irrigation companies, auto dealers, building supply stores, farmers, ranchers and small businesses. They took “every type of case that came through the door,” from criminal defense work to a patent royalty dispute for the inventor of the Frisbee. Judge Jackson has been a lifetime rancher doing business in Utah as Jackson Cattle Company and Arizona as EJ Cattle Ranches.
 
Judge Jackson’s professional service includes terms on the Utah State Bar Commission, Bar Foundation (President and Vice President), Air Travel Commission, and Utah Information Technology Commission.  He served on the Judiciary’s Alternate Dispute Resolution Committee for thirteen years and initiated and supervised the Appellate Court Mediation Office.  He developed and advanced a realistic and workable framework for both of Utah’s Appellate Courts to use in reviewing trial court and administrative agency decisions.  He published three editions of Utah Standards of Appellate Review while participating in more than 2,000 appellate court decisions.  
 
Judge Jackson’s experience will complement the other outstanding lawyers at Robinson, Seiler & Anderson, LC.  The firm will continue its representation of injured individuals, as well as clients in real estate, business, estate planning, tax, contract and education matters.
 

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