Tuesday, March 29, 2011

Legal Advice For Mergers and Acquisitions

Two individual companies merge for numerous reasons. Normally, it happens because one company suffered from financial mismanagement that it cannot continue with its operation without the proposition of another company to take over their management.

But sometimes, two competing companies may decide to take the functional approach by joining forces and by sharing common distribution for healthy financial liquidation.

In every company merging, both managements need to seek legal advice for mergers and acquisitions so that due order and the line of authority are clear for all the stakeholders involved.

Speaking of order, interested company who's aiming for amalgamation got to meet legal requirements for furnishing of documents coming from board of directors and from representatives of shareholders.

Another part of the legal advice for mergers and acquisitions is the preparation and presentation of the paper certifying the surviving company and the documents attesting the inexistence of the other before the shareholders.

The newly-formed company now has to determine whether it will conduct business on more than one jurisdiction. If yes, application letter needs to be sent to authority for the approval to transact in foreign lands.

And since there has been dissolution of companies, applying for a new federal tax identification number for the company who's taking over the business is necessary. The old ones will no longer have the merit it used to acquire.

Comes along with this application is the furnishing of payroll taxes, unemployment compensation taxes, as well as state tax identification number for sales and use taxes.

By: Stanley Hardin
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Saturday, March 5, 2011

Where Do You Want to Be Buried - Legal Advice

Your remains and the law

Very often a will contains a statement of what the testator would like to happen to his mortal remains. They might say that they wish to be buried, cremated, or even sometimes buried at sea or to have their ashes scattered at a favourite place.

They often think that such a wish is going to be binding on those dealing with their funeral and administering their affairs but this is not the case. The law as it stands does not make what is in effect only a statement of wishes legally binding.

Legally it is for your executor to decide on the arrangements for dealing with your remains. It is the executor you appointed in your will who will decide your final resting place and not family and friends and not even you with the wishes expressed in your will. The executor you appoint is entitled to override all other wishes.

It is therefore most important that you appoint an executor who you trust to carry out your final wish-especially if it is strongly held. Equally important is making sure that everybody is aware of and agrees with your wishes. It can be very upsetting for all if there are disputes and bad feelings over your final resting place.

Sometimes people will not make a will and there will therefore not be executors with the responsibility to decide what is to happen to your remains. The person on whose property you die is legally responsible and can make the decision for disposal of your remains.

Very often this will be a hospital of care home. The relevant authority will almost certainly allow your family to make all the arrangements for your funeral and problems will only arise if there is a dispute.

There is only likely to be a dispute within the family if there is a question on whether your will is valid and whether you have a properly appointed executor. If there is a dispute which cannot be resolved it can be referred to the court for a judge to decide. In a recent case the judge held that the local authority were entitled to to decide how the body should be disposed of.

This situation however can be easily avoided by making a valid will in which you appoint executors who you trust to carry out your wishes. You should also discuss these wishes with your family and make sure that they are happy and agree with what you want to happen to you.

By: Andrew John Dutton
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