I have a bar and grill for 4 years I have been leasing. I do have it in an LLC. Now I am going to be leaving it and buying and opening another one. How do I handle the LLC, can the same one be used or do I have to do another one? thanks
You can hold several different properties and business interests in the same LLC. It sounds like your lease has expired for the first property and you are now going to be purchasing a property where you intend to run your establishment in the future. There is no reason you cannot use the same LLC. Some people like to have a separate LLC for each of their separate business enterprises in order to have even more liability protection between the different business enterprises. However, it does not sound like that applies to your situation.
One other thing that you should consider is making sure that you purchase the new property in the name of your LLC. Some people make the mistake of purchasing the property in their personal name and then transferring it into the LLC later. It is best if a property that you want subject to liability protection has never been in your personal name.
I wish you the best of luck.See question
My roommate and I signed a lease to take effect 9/15/16. The lease agreement clearly states that we can have 3 adults living in this home and that my roommate and I would be held liable for this 3rd person should any damages arise. We were totally...
A contract is a contract and that goes both ways. You should talk to your bank immediately and cancel payment on the check. Then call the landlord and inform them that you only signed the lease and made payment of the security deposit based on the fact that the contract was for three people. If they are not going to allow you to have three people, then you consider them in breach of contract and you would like to contract cancelled. Inform them that they basically have two choices. They can either honor the contract for three people or terminate the contract. In either case, you will have your security deposit back so you can choose to just find a different apartment. If they pursue you legally, you always have the argument that they were in breach of contract as laid out above. You may even have an argument that this was misrepresentation in the first place. I wish you the best of luck.See question
I borrowed a friend a large sum of money. They promised to repay it but still have not. I have an original note signed by then staying they owe me the amount. But, they continue to ask for more money. They state they can't pay me back and I'll ...
The text messages can possibly be used as admissible evidence. I recommend that you find a way to print them asap so that you have a hard copy. Visit your local cell phone office for assistance if necessary.See question
I AM BEING PURSUED BY A DEBT COLLECTOR FROM A FIRM WHO IS NOTORIOUS FOR GOING AFTER JUDGEMENTS THEN WAGE GARNISHMENT AND OR FREEZING BANK ACCOUNT .THE CLAIM IS ALMOST 6 YEARS OLD . IT WAS QUIET UNTIL I APPLIED FOR CREDIT CARDS AND SIGNED UP TO ...
Quitting your job is not a good option. It is likely to only make a difficult situation worse. You could consider a Chapter 7 bankruptcy or just wait and see if the debt collection agency takes any steps to collect against you.See question
A relative had a trust fund set up before he passed, another relative, not beneficary took all the money out of it to purchase items for herself leaving nothing. Is there a time frame involved to prosecute the party for the theft?
The statute of limitations could be as short as 2 years or could be much longer depending on the specific facts of your situation. I recommend that you hire a civil attorney as soon as possible. The local sheriffs typically will not prosecute this type of white color crime because it is complicated to prove.See question
My friend was in need of a car, so last year at this Time I loaned him 1400$ to get a car we found on Craigslist. I wrote out an agreement stating he would pay me back, we both then signed and dated, I also had a witness there sign and date. Can I...
The most efficient way to move forward would be to sue him yourself in small claims court. The links below will lead you to information on how to do that in Washington County, Wisconsin. I wish you the best of luck.
My spouse is draining the kids savings accounts. I know I need an attorney, I am saving for the retainer. How do I word a motion to freeze the accounts of what's left and ask they be paid back?
You could report him to child protective services: http://www.co.dodge.wi.us/index.aspx?page=272 or even the Sheriff's Department: http://www.co.dodge.wi.us/index.aspx?page=68
I hope that they help protect your children's funds.See question
I want to know how to go about filing legal forms for my recipe's, and what I need to do legally. I'm very new to this industry and not sure about how to go about the legal issues. Please advice. Thanks
You need to hire a business attorney near you in Milwaukee to assist you in the best way possible to protect your business interests. The questions that you have cannot adequately be addressed on this forum. I wish you the best of luck!See question
I had a family member recently pass away, this individual has a separate account for me and I am the sole beneficiary as P.O.D the executor on the will says that the will said that any money is supposed to be split 3 ways and said that she's going...
Chapter 705 of the Wisconsin Statutes provides that POD account is owned by the payable on death beneficiaries "unless there is clear and convincing evidence of a different intent". This will be a very hard burden for the executor to meet because none of the three siblings (I assume) can testify to the decedent's intent under the Deadman's Rule.
The only other way that the executor could have the POD designation legally revoked is to prove that you unduly influenced the decedent to make you the POD beneficiary in the first place. This would require the executor to prove that a “confidential relationship” existed between the decedent and you, and that “suspicious circumstances” surrounded the POD designation. If the executor succeeds in establishing these two elements, then a presumption of undue influence arises, and the burden shifts to you to disprove the presumption. So, to truly answer your question, an attorney would need to discuss the specific facts of your relationship to the decedent and the creation of the POD designation.See question
My father died last month. He had a will, codicil, and Trust, and I am the nominated PR in the will and the Successor Trustee in the Trust. The probate assets are over $50,000, and I plan on using the Informal Probate administration. My prob...
If you explain the problem to the bank specifically, they may let you access the safety deposit box with an attorney and a bank official present in order to get the original will and solve this chicken-and-egg problem. Alternatively, you could open a special administration with the probate court with the sole power being to get a copy of the will of the safety deposit box. Then, once you have the will, you can convert the special administration into an informal administration fairly easily.See question