Author Archives: David Toback
Understanding Due Diligence
Due diligence is a word that we hear often. Whether it’s in buying a home, or purchasing a business, we often toss around the term as a necessary safety precaution before putting our names on the dotted line. But what does due diligence actually mean when purchasing land or a business, or any other… Read More »
Undue Influence Can Cause Problems When Changing Estate Planning Documents
We have talked in the past about how careful you have to be when changing a will or other end of life documents, particularly when the documents are those of someone who may be ill, infirm, elderly, or sick. But we have not talked about the exact legal standards for challenging a will. They’re… Read More »
Do You Always Need to Change Estate Documents After a Divorce?
We all know that the issue of estate planning tends to come up when you or someone you know gets sick. But it also comes up in the context of divorce. A divorce is a trigger to many clients, pushing them to either create documents, or revisit already created ones, to make sure that… Read More »
Consider Liquidated Damages In Your Next Business Agreement
When entering into a contract, it’s always a good idea to look at the future, and ask yourself what would happen if your contract was breached. Likely, you would be able to file a lawsuit to collect your contractual damages; but what exactly are those damages, and how can you ensure that you recover… Read More »
Ernie Banks’ Probate and Will Dispute Provides Important Estate Planning Lessons
Well known Chicago baseball player Ernie Banks died in January of this year. In addition to his baseball prowess, he was the first black Ford dealer, and was awarded the 2013 Congressional Medal of Honor. Sadly, however, his death has raised significant estate and probate issues, and serves as a reminder of how important… Read More »
How Collecting Money Owed Could Get Your Business in Trouble
For many businesses to survive, they need to make sure they’re paid by those that owe them money, whether from individual consumers, or other businesses. You may not think that simply accepting payment for a good or service rendered could embroil your business into a complex federal bankruptcy case. But it can happen. The… Read More »
A Health Savings Account (HSA) Could Save You Some Tax Money
Health insurance has been a popular topic the last few years. Many people don’t figure health insurance into an overall estate planning strategy. But, in fact, there is a savings vehicle for health planning that may actually save you money on your taxes. What is an HSA? Many individuals find when procuring health insurance… Read More »
One Word in a Business Contract Can Make a Huge Difference
It’s often surprising how major business deals or complex financial transactions can be determined by the meaning of a single word or phrase in a contract or agreement. A number of business disputes end up in court just over the interpretation of an ambiguous term. A recent case is another reminder of how important… Read More »
A Living Trust Could Be The Right Tool For You–Even if You’re Not Rich
When we talk about trusts, there is a misconception that they’re only for the very wealthy. Terms like “trust fund baby” have created the impression that the average middle class person doesn’t need to worry about trusts. But living trusts can help everyone, and can give you some peace of mind in planning your… Read More »
Beer Fight Shows Why It’s Important to Pay Attention to Government Regulation of Your Business
If you have a business, you usually can’t afford to ignore governmental regulation and compliance. The amount of regulation that a business is subject to varies depending on industry, but it’s usually always there to some extent. Beer Makers Fight Over Interpretation of Licensing Regulations An interesting dispute over the breadth of regulation has… Read More »
