Tilford Dobbins & Schmidt, PLLCTilford Dobbins & Schmidt, PLLC2024-03-25T16:52:29Zhttps://www.tilfordlaw.com/feed/atom/WordPress/wp-content/uploads/sites/1602252/2020/11/cropped-favicon-32x32.jpgOn Behalf of Tilford Dobbins & Schmidt, PLLChttps://www.tilfordlaw.com/?p=483062024-03-22T16:53:24Z2024-03-25T16:52:29ZAmbiguous job descriptions
About 364,200 small businesses operate in Kentucky. One common mistake these businesses, along with their larger counterparts, may make is providing vague job descriptions. When roles lack clear definition, it can be tempting to classify workers as freelancers to maintain flexibility. However, if the tasks align more with those of an employee than a freelancer, the classification may be incorrect.
Control over work schedule
Another factor is excessive control over a worker's schedule. Freelancers typically have autonomy over when and how they complete tasks. If a business dictates specific working hours or requires on-site attendance, the worker may be an employee rather than a freelancer.
Integration into company operations
Freelancers generally work independently. They usually lack deep integration into a company's daily operations. However, if workers get close supervision, receive training or use company resources extensively, they may be employees.
Duration and regularity of work
The frequency and duration of work can also influence classification. While freelancers may work irregularly or on a project basis, consistently providing services over an extended period suggests an employment relationship. Businesses should assess whether the nature of the work aligns with intermittent freelance gigs or ongoing employment.
Financial control and investment
Freelancers typically invest in their own tools, equipment and training. If workers rely primarily on company-provided resources or get reimbursement for expenses, they may be economically dependent on the business. They may be more appropriately classified as an employee.
Misclassifying employees as freelancers can result in penalties, back taxes and legal disputes. By avoiding common pitfalls, businesses can mitigate the risk of misclassification.]]>On Behalf of Tilford Dobbins & Schmidt, PLLChttps://www.tilfordlaw.com/?p=483052024-03-22T16:50:49Z2024-03-22T16:50:49ZSpousal responsibility for credit card debt
In Kentucky, marital property usually gets equitable distribution during divorce proceedings. However, this does not necessarily mean a 50/50 split. Instead, courts aim to divide assets and liabilities fairly based on various factors. They include each spouse's financial situation and contributions to the marriage.
When it comes to credit card debt, Kentucky follows the principle of equitable distribution. Both spouses may be responsible for debts incurred during the marriage, regardless of whose name is on the account. If one spouse has credit card debt, both parties may be on the hook for repayment, depending on the circumstances of the marriage.
Knowledge of debt
In 2023, the average credit card balance in Kentucky was $5,304. The court might not require you to pay credit card debt you did not know about. This may especially be the case if your spouse took on the debt solely for their benefit and took great pains to hide it from you.
However, proving this can be challenging. Courts often consider the overall financial situation of the marriage when making such determinations.
Witness Testimony: If possible, obtain testimony from friends, family members or financial advisors who can attest to your lack of knowledge regarding the credit card debt. Their statements can corroborate your claim and strengthen your case.
Financial Separation: If you and your spouse maintained separate finances or if the credit card in question was solely in your spouse's name, it may be easier to argue that you were unaware of the debt. Providing evidence of financial separation, such as separate bank accounts or financial agreements, can support your claim.
Spousal Spending Patterns: If your spouse exhibited secretive or erratic spending behaviors without your knowledge, you can use this pattern to argue that you could not have reasonably known about the credit card debt. Evidence of excessive spending or financial mismanagement by your spouse can support your defense.
Taking proactive steps to protect your financial interests can help navigate this aspect of divorce proceedings smoothly.]]>On Behalf of Tilford Dobbins & Schmidt, PLLChttps://www.tilfordlaw.com/?p=483042024-03-09T20:56:22Z2024-03-09T20:56:22ZNeglecting to research account options
One common mistake when opening a business account is neglecting to research available options. Banks offer various business accounts, each with unique features and fees. Business owners must compare these and choose one that aligns with their needs and goals.
Failing to bring the required documentation
Banks need documents such as the Employer Identification Number, business license and ownership information for new accounts. Having this paperwork ready ensures a smooth account opening process.
Mixing personal and business finances
Opening a business account separates personal and business finances. Commingling funds can lead to accounting challenges and tax issues. It also may jeopardize the limited liability protection that a business structure provides.
Overlooking account fees
Business owners may overlook account fees associated with their chosen bank. Some accounts have monthly maintenance fees, transaction fees or charges for specific services. Knowing these in advance helps with better financial planning.
Ignoring online banking security
Business owners should prioritize the security of their online banking to maximize convenience. Security measures include using strong passwords and enabling two-factor authentication. They should also monitor transactions to detect unauthorized activity.
A business bank account requires a strategic approach to avoid common mistakes. Business owners can ensure a positive and secure banking experience by addressing key considerations. This effort helps establish a solid foundation for effective financial management.]]>On Behalf of Tilford Dobbins & Schmidt, PLLChttps://www.tilfordlaw.com/?p=483032024-03-09T20:48:45Z2024-03-09T20:48:45ZServe the right purpose
A business can qualify as tax-exempt by being a charitable-type organization. It should exist to serve a purpose rather than to generate profits for its owners or shareholders. The general categories for this status include operations for religious, charitable, scientific, literary or educational purposes.
It may also be a social welfare organization. These organizations operate primarily to promote the common good and general welfare of the community. Examples include community centers, volunteer fire departments and organizations that work to improve public health.
In addition, business leagues, chambers of commerce and real estate boards may qualify as tax-exempt. They must promote the common business interests of their members and must not engage in substantial lobbying activities.
File the application
To receive tax-exempt status, a business must apply for recognition by filing Form 1023 or Form 1023-EZ with the IRS. The agency will review the application to determine if the business meets the qualifications for tax-exempt status.
Once a business has tax-exempt status, it does not pay federal income tax on its income and may qualify for exemption at the state and local levels. To maintain this status, the organization must continue to meet all operational requirements.]]>On Behalf of Tilford Dobbins & Schmidt, PLLChttps://www.tilfordlaw.com/?p=483022024-03-05T17:22:44Z2024-03-06T17:22:37Z1. Trustworthiness and reliability
When choosing an executor, trustworthiness and reliability are key. You need someone who will act with honesty, integrity and diligence in carrying out his or her duties. Consider selecting a family member, friend or professional advisor whom you trust to fulfill his or her obligations as executor. Be sure to choose someone who will prioritize your wishes and act in the best interests of your beneficiaries.
2. Organizational and financial management skills
Managing an estate requires strong organizational and financial management skills. Your chosen executor should be capable of handling complex financial matters, maintaining accurate records and making informed decisions about asset distribution. Look for someone responsible and proficient in managing paperwork and deadlines. Consider naming an executor who has experience in financial matters or estate administration.
3. Availability and commitment
The executor's availability and commitment are important factors to consider. Settling an estate can be time-consuming and demanding, requiring ongoing attention and communication. Choose someone with the time and willingness to commit to the responsibilities of executorship. Discuss the time commitment and responsibilities involved in advance before making a formal decision.
By selecting an executor with these qualities, you can have confidence that your wishes will ultimately come to fruition.]]>On Behalf of Tilford Dobbins & Schmidt, PLLChttps://www.tilfordlaw.com/?p=482532024-02-21T15:44:45Z2024-02-21T15:44:45Z1. Negative comments
One of the most common signs of parental alienation is when a child consistently makes negative comments about one parent. The child may blame the alienated parent for the divorce or other issues within the family, even if there is no evidence to support these claims and refuse to listen to any rationale that goes against his or her view. Often, such comments are echoes of the alienating parent's words.
2. Lack of empathy
Alienated children may show a lack of empathy towards the alienated parent. They may be dismissive of the parent's feelings or experiences and may not show any interest in spending time with them or hearing their side of things.
They may justify the alienating parent's behavior, even if it is harmful or inappropriate, regardless of how much it hurts the other parent. They may believe that the alienated parent deserves poor treatment.
3. Disrespectful behavior
While acting out is not uncommon after a divorce, alienated children may display atypical disrespect, hostility and even hatred towards the targeted parent. They may refuse to acknowledge the parent's authority or care in any way, denying any past positive experiments and seeking to degrade him or her.
Parental alienation can impact children's mental and emotional well-being and create a hostile environment. Parents who recognize signs of it may need to investigate or even ask for court intervention.]]>On Behalf of Tilford Dobbins & Schmidt, PLLChttps://www.tilfordlaw.com/?p=482522024-02-21T15:43:19Z2024-02-21T15:43:19ZHow does nesting work?
In a nesting arrangement, the children stay in the family home, and the parents take turns living there with them according to a predetermined schedule. This allows the children to remain in a familiar environment, reducing the amount of change in their lives. It also minimizes the disruption to their routines.
What are the advantages for parents?
Nesting offers obvious advantages for children in terms of stability and easing the adjustment period, but it can also make it easier for parents to co-parent effectively. By sharing the responsibility of maintaining the family home, parents can focus more on their children's needs and less on logistical issues. This can lead to improved communication and cooperation between parents, which can benefit the children.
What are the considerations associated with nesting?
While nesting has its pros, it is not right for every family. Parents need to consider if they have the financial ability to maintain three households, the family home and a home for each parent when they are not staying with the children. Time and maturity are also considerations. While younger children may need nesting more, they will also be in the home longer and the long-term sustainability of it may be in question. Older children may be out of the house sooner and need it less. There are also job considerations; if one parent may have to move for work, nesting may not be the choice for that family.
Nesting after divorce has its advantages, especially for children. However, each family needs to judge its suitability for their situation as it is not a one-size-fits-all solution.]]>On Behalf of Tilford Dobbins & Schmidt, PLLChttps://www.tilfordlaw.com/?p=482512024-02-12T19:48:47Z2024-02-12T19:48:47ZScope of restrictions
Non-compete agreements vary in their scope and restrictions. Some may limit your ability to work for competitors within a specific geographic area. Others may restrict involvement in certain industries or professions. You should weigh the potential consequences before signing such agreements.
Duration of limitations
Another critical element is the duration of the non-compete restrictions. These timeframes can vary widely, ranging from a few months to several years. Knowing this duration is important for planning your future and potential career paths.
Opportunities for negotiation
Understand that contracts are negotiable before you accept a job offer with a non-compete clause. Employers may be open to discussing modifying items such as the scope, duration, or geographical limitations. Engaging in respectful negotiations can lead to agreements that better align with your career goals.
Legal implications of a breach
Your former employer can sue you if you ignore the contract after leaving the company. Violating the terms of the agreement can result in financial penalties or injunctions. Awareness of these potential ramifications can help you make informed decisions about future activities, such as another job offer or opening your own business.
Informed decision-making
You should approach non-compete contracts with an understanding of their implications. Recognizing the potential impact on future employment and negotiation opportunities can empower you. Knowing things such as the scope and duration of the contract can help you negotiate favorable terms.]]>On Behalf of Tilford Dobbins & Schmidt, PLLChttps://www.tilfordlaw.com/?p=482402024-02-07T20:13:54Z2024-02-07T20:13:54ZMediation sessions
During mediation sessions, spouses communicate their concerns and desires. This open dialogue fosters an environment where both parties can express their needs and work toward mutually agreeable solutions. A good mediator creates a neutral ground for discussions. His or her role is not to take sides but to guide the conversation.
Mediated agreements
The mediator tailors agreements to the unique needs and circumstances of the couple. This customization ensures that the resolution aligns with the specific details of their divorce, addressing financial, child custody and property division matters. Once the mediation process concludes, the mediator documents the terms in a formal agreement.
Benefits of mediation
Mediation is often more cost-effective than traditional litigation. It involves fewer court appearances and less expensive proceedings. It also can lead to quicker resolutions. A faster divorce allows couples to move forward with their lives sooner than if they were to engage in a prolonged court battle.
Drawbacks of mediation
While mediation can be a constructive approach to resolving issues during a divorce, the following are potential drawbacks:
Lack of guidance: An unqualified mediator may leave spouses unaware of potential legal consequences or rights they may be waiving
No guaranteed resolution: If the parties cannot agree on issues such as child custody, property division or spousal support, the case may need to go to court
Lack of cooperation: If one spouse is uncooperative, the mediation process may break down
Complex financial issues: Mediation may be ineffective in cases involving complex financial matters
Emotional challenges: Emotional reactions to sensitive topics such as infidelity may hinder discussions
Mediation offers many advantages. However, if one spouse possesses stronger negotiation skills or a better understanding of legal matters, there is a risk of an uneven distribution of assets or favorable terms in the agreement, leaving the other party at a disadvantage.]]>On Behalf of Tilford Dobbins & Schmidt, PLLChttps://www.tilfordlaw.com/?p=482372024-01-25T20:11:58Z2024-01-29T20:11:50ZEstate administration in action
When someone passes away, their estate typically goes through probate. This involves validating the will of the deceased person and distributing assets to heirs. The executor, appointed in the will or by the court, oversees this process.
During estate administration, the executor identifies and values the assets of the decedent, pays outstanding debts and taxes, and distributes the remaining assets among the heirs according to the will or state laws. The probate court supervises this entire process.
Trust administration in operation
In contrast to estates, trusts operate outside the probate system and offer a more private method of asset distribution. The person creating the trust, known as the grantor, appoints a trustee to manage and distribute assets to beneficiaries as outlined in the trust document.
Trust administration typically involves less formal court oversight compared to estate administration. The trustee is responsible for identifying trust assets, settling debts and ensuring the distribution of assets according to the trust terms. The process is more streamlined and avoids the public nature of probate.
Key differences
The main distinction between trust and estate administration lies in the involvement of the probate court. Estate administration is a court-supervised process while trust administration operates privately without direct court oversight. Additionally, the timeline for estate administration can last longer due to legal requirements, whereas trust administration can be more flexible.
Estate administration may involve more paperwork and legal formalities, potentially causing delays. Trust administration, on the other hand, relies heavily on the efficiency of the trustee and adherence to the trust document. Executors should prepare for these distinctions and the responsibilities that come with each role.
Whether you administer an estate or a trust, understanding the unique aspects of each process should help you execute the duties of whatever position your loved one wants you to take.]]>