A “life estate” is an estate whose duration is limited to the life of an individual (usually the party holding the life estate), and a legal arrangement whereby the “life tenant” during his or her life retains use (the rights to rents and profits), possession of the property and costs of maintaining the property.…
Intellectual property (IP) is a term referring to a number of distinct types of creations of the mind for which a set of exclusive rights are recognized. Under intellectual property law, owners are granted certain exclusive rights to a variety of intangible assets, such as musical, literary, and artistic works; discoveries and inventions; and words,…
By Tony Poderis Sponsorships and underwriting are different labels for basically the same thing: funding donated for the support of a project, program, event, initiative, activity, or even a salary. In general, foundations are identified as underwriters and corporations as sponsors. Individuals can be either, but in most instances underwriters and sponsors will be…
Many people have turned to bankruptcy as a solution to their financial situation. Whether to stop a foreclosure on a house, a repossession of a car or a wage garnishment, bankruptcy can provide a fresh start and allow you to rebuild your credit and get back on a healthy financial footing. Although it may…
Trusts can be established for a wide variety of purposes, and some types of trusts have more than one name. This issue provides brief descriptions of 50 trusts. The use of trusts has increased during the last 30 years as taxpayers attempt to nurture and preserve financial wealth for their spouses, children, and grandchildren. …
There are many approaches to take in establishing an accurate valuation for your business. Finding the best method for your situation will provide you with the best measure of value. Read more about Exit Strategies/Selling Business » You’ve examined your company’s historical financial statements, thought carefully about your prospects for future growth, and perhaps…
If there were an eighth wonder of the world, we’d nominate the equation compound interest : Your money x (I + i)^n. (If you’re not a math geek, don’t worry; were going to decipher that for you.) Albert Einstein (or maybe it was Yogi Berra) called this deceptively simple formula the “greatest mathematical discovery…
By Alyssa Gregory, About.com Guide One of the most difficult parts of starting a business for many entrepreneurs is figuring out where to get the capital needed to get the business up and running. If you don’t have the money saved up, can’t or don’t want to take out a loan, and don’t want…