May 2014

Commercial Real Estate Development Insurance Disputes

Insurance is an important component in any construction development project. Whether you're building a house, hotel, or an office building, your project is likely to involve multiple subcontractors and a lot of construction materials. Homeowners insurance protects individual property owners from losses resulting from construction defects, natural disasters, and accidents. Likewise, contractors rely on liability insurance to cover the cost of defending construction defect claims. Knowing you're protected can give you much-needed peace of mind during the building process. But what happens when you need to file a claim? Even more troubling – what if the insurer denies coverage? (more…)
May 2014

The Importance of Good Business Credit

Good Credit Isn't Just for Individuals

If you're a business owner, you have worked hard to establish a customer base and build a reputation in your community. Being your own boss demands significant commitment and sacrifice. Unfortunately, many business owners fail to recognize strategies and tools that can help their businesses grow without compromising their personal financial security. Business credit is a financial tool that can promote both business growth and personal creditworthiness. (more…)
Apr 2014

Mutual Mistake in Contracts

When Both Sides Are Responsible for Drafting Errors

As the old saying goes, nobody's perfect. Being human means making mistakes. In everyday life, you can often fix errors with a quick explanation or sincere apology. In contracts, however, mistakes usually have serious – and costly – consequences. (more…)
Apr 2014

The Irrevocable Trust: A Powerful Estate Planning Tool

Done right, irrevocable trusts are powerful estate and business planning tools that accomplish a variety of goals. But what are they, really? And once formed, are they well and truly irrevocable?

The Nuts and Bolts of the Irrevocable Trust

The first step in understanding irrevocable trusts is knowing what people mean when they refer to a trust – revocable or irrevocable. Some people have difficulty understanding trusts because a trust is not a tangible thing. You can't touch it or hold it. A trust is actually a legal entity that is controlled by a trust agreement, which is a written document setting forth all the terms of the trust, including how it is administrated. To understand how a trust works, it helps to think of the trust as a box. When someone creates a trust, he or she...