Facing Divorce
October 18, 2008 by admin
Divorce can be one of the most life-altering events that two people can experience. Whether the split was mutual or disputed, the separation of two lives that were once one can be especially devastating and difficult. While the courts can regulate and grant divorce petitions, healing emotional scars left from such an experience can take time.
MyLegalReview is here to provide you with information that can be helpful in assisting you with the transition. Also, if you and your spouse have agreed upon an uncontested divorce, mylegaledge.com can provide you with state specific forms for uncontested divorces. If you do not see the package you need, just e-mail us at staff@mylegaledge.com. You can also leave your comment here at MyLegalReview.com.
If you are facing a contested divorce or have custody or child support issues, it is definitely recommended that you secure an attorney. If you are in this situation we recommend finding a local divorce attorney within your area to handle these complicated matters.
In addition to child custody and support issues, you may need to address issues surrouding property division and in some cases alimony.
In our next post, MyLegalReview will discuss the bare facts of the divorce procedure.
The Fundamentals of Filing for Bankruptcy
October 18, 2008 by admin
Introduction
Just turn on your television and most news stations will definitely discuss the current financial turmoil within the United States. The Administrative Office of the Courts reports that 1,085,471 people filed bankruptcy overall in 2007. Those numbers are only expected to increase in 2009.
If you are in need of state specific bankruptcy forms, these can be obtained from mylegaledge.com. If you have additional comments, you can e-mail us at staff@mylegaledge.com. Also, feel free to leave us comments or inquiries here at MyLegalReview.com.
We know that bankruptcy is not an easy decision to make, but it is our hope that the information and resources we provide will make the process a little smoother for you.
What is Bankruptcy?
Forming a Non-Profit Corporation
October 15, 2008 by admin
THE FUNDAMENTALS OF FORMING A NON-PROFIT CORPORATION
Forming a non-profit organization can be a good idea for many types of groups. If you are interested in community service, starting a church, or have an interest in education, the non-profit corporation may be a good fit for you. Also, once you gain your non-profit status from the federal government, you can apply for a multitude of grant funding for your project. Completing the paperwork to gain your non-profit status can be quite a job, but you will find that it is worth it once the job is complete. At MyLegalReview, we are here to assist you in learning the benefits and responibilities of starting a non-profit corporation.
If you are interested in completion services for forming a non-profit corporation, check out mylegaledge.com. You can also find other form products here that will help you keep your non-profit corporation organized and fisically sound. So, whatever your dream or vision may be, we can assist you in making it happen.
Tax Exemption for Your Non-Profit Corporation
In addition to applying for grant money, once you gain your non-profit status from the federal government, you are eligible to receive exemptions from federal and state income taxes. The way to start this process is to apply for federal exemption status using Section 501(c)(3) of the Internal Revenue Code. Keep in mind that 501(c)(3) status only grants you the privilege of not paying federal and state income tax on those activities attributed to your non-profit purpose. Those activities which are outside of your purpose will require a tax.
Another benefit are the tax deductions individuals will enjoy if they donate to your 501(c)(3) organization.
Protection from Personal Liability
Under normal circumstances, once the 501(c)(3) is formed, this will protect your directors, officers, and members from personal liability from debts and obligations owed by the corporation. This limited liability acts as a shield and ensures that individuals who obtain judgments against the non-profit are only able to reach the assets of the corporation. Now, there are exceptions to the limited liability rule. For example, if a director or officer or the corporation personally and directly injures someone, personal liability will be imposed.
Groups that Should Consider Forming a 501(c)(3)
