Advantages of a Durable Power of Attorney for Property
A power of attorney allows you to establish someone to act as your agent. Your agent has a fiduciary responsibility to you, which means the agent is required to act on your behalf only in your best interests. The agent can sign contracts and other legal documents, access bank accounts and other assets, and make decisions on your behalf. A power of attorney can be limited and last for only a set period of time, or it can last until you become sick or incapacitated. If you.. [Read More…]
What is a Time and Materials Construction Contract?
Construction contracts establish the parameters for building projects for both residential and commercial real estate. The contract must be created before the project begins and should establish the specifications for an individual project. The terms of the agreement should be negotiated so the contract is fair to both the builder/contractor and the investor/owner. The contract should set out both the details of the project to be completed as well as the cost for completion. Construction contracts divide responsibility for costs and set pricing in different ways depending.. [Read More…]
What is a Guaranteed Maximum Price Construction Contract?
When an owner or a developer decides to begin a construction project, a contract must be created to outline the terms and scope of the project. There are different types of construction contracts that establish the parameters of the job and that assign risk in various ways. Some contracts put more risk on the owner, while others involve the builder assuming the potential for losses caused by cost overruns. Both owners and builders/contractors need to understand the terms of any agreement that they enter into and need.. [Read More…]
Paying for Extracurricular Activities After Divorce
When parents are separated or divorced and raising a child, the child is entitled to receive financial support from both mom and dad. The parents should create a parenting time or custody arrangement that explains how visitation and custody will be shared. Based on the family income and the amount of time that the child spends with each parent, one parent may be required to pay child support to the other. A standard formula taking into account the number of children, each parent’s share of income.. [Read More…]
How Do I Change a Custody and Support Order?
If you have children and are divorced or separated from the other parent, you likely have a parenting time arrangement or a custody order in place dictating how you will share responsibility for your children. There may also be a child support order in effect requiring the non-custodial parent to pay support to the other parent who has primary responsibility for the children. If you have custody and support orders in place, you must abide by them or you face consequences including contempt of court, the.. [Read More…]