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    Car Month to Month Rental Agreement

    Car Month to Month Rental Agreement is a lease that is specified with a certain duration. It can be cancelled or amended within a month. Here both landlord and tenant have the right to terminate the lease. But before terminating the lease, notifying the other party with proper notice is essential.

    What is a month-to-month lease?

    Month-to-month is an agreement between two parties that continues till 30 days or continues till one of the party terminate it. Adding any other thing, the lease can be changed after the completion of one month, the landlord can increase the amount of rent.

    There are certain steps to know before assigning the car a month-to-month rental agreement. These are mainly for the background check:

    Step I: Tenant’s credentials

    When an individual is interested in a certain property upon a lease, they discuss the rent. The first move of the landlord should be a background check of the tenant. The landlord can check the tenant’s background through a rental application. This application allows the landlord to check the credentials of the tenant. Like it gives details about the individual’s credit report, verifies character potential, and criminal background.

    Step II: Begin negotiations

    At this moment, the landlord possesses all the credentials of the tenant. If he has a high-paying job and credit, then the owner can negotiate. But if the tenant has not that good job, then the owner could back off.

    Step III: Tenant completes the rental agreement

    Car Month to Month Rental Agreement

    If the tenant has viewed the property and both parties have made a verbal agreement over the vehicle on lease. Make sure one has to attach his FCRA (Fair Credit Reporting Act) to the final rental agreement of a car. It will be there for the detailing of the tenant’s rights. Once the written agreement is done, now tenant has to submit it to the landlord. While submitting an agreement, the tenant should return it along with the application fee.

    Step IV: Writing the month-to-month lease

    Upon completion of all negotiations and completing an agreement, the landlord and tenant should draft a lease.  When the agreement expires, one should renew the lease. If the landlord wants to keep some changes in the lease, he can. Often renewing your lease would abide by the lease to go through statute. After the lease has been created, the tenant should carefully go through it, to ensure negotiated terms.

    Step V: Executing the lease

    After the landlord and tenant have agreed to the terms as included in the lease, the parties should execute all the conditions. The meeting has to be done over the car month-to-month rental agreement.

    Tenant’s responsibilities

    • Monthly payment
    • Security deposit
    • Rent proration amount on a fixed date
    • Pre-paid rent

    Landlord’s responsibilities

    • Provide access to the vehicle
    • Keep a copy of the executed lease

    Step V: Taking occupancy

    The tenant may now take occupancy over the property or vehicle. If the tenant has signed the terms of occupancy by a certain date. He isn’t subjected to leave a property.

    Step VI: Terminating the month-to-month lease

    The landlord wants to terminate the lease, he will require to send a notice. This notice is a termination letter. The notice must consist of occupancy and termination period. And the landlord should mention the reason for termination.

    Step VII: Sending notice

    It is recommended, to send a termination notice certified letter with a return receipt. If either party decides to terminate the lease, make sure to have some proof of receipt.

    Contents to write in a Car Month to Month Rental Agreement

    • Name of the landlord and tenant.
    • Property description.
    • Period of occupancy. Date of occupancy and date of termination.
    • Amount of rent.
    • Maintenance of vehicle.
    • Mode of payment.
    • Security deposit.
    • If utilities are furnished by the landlord, such charges for utility.
    • Facilities must be given to the tenant.
    • Rules and regulations for usage.
    • How tenant should handle requests in an emergency.

    Common terms included in a rental agreement

    • Rent: The consideration or payment made by the tenant to the landlord. In exchange, the landlord will handle the property to a tenant.
    • Deposits: The amount of deposit required for occupancy.
    • Usage: It is a purpose of the property. And other terms and conditions regarding the usage.
    • Utilities: These are utilities included in the lease.
    • Insurance: It is, whether the tenant is required to ensure the property. It is the most often used term.
    • Maintenance: The responsibility of the maintenance will be on the tenant in the period of occupancy.

    Security deposits in Car Month to Month Rental Agreement

    In India, the tenant pays the security deposits and advance. The repaid must be done at the time of cancellation of the lease. It is supposed to be given to the landlord at the time of signing the contract. A part of a deposit can be used by the landlord. The landlord can use this deposit for the damages of a subject. Returning process is done at the cancellation or quitting of the contract.

     

     

     

     

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  • Legal
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    Can You Put an Annuity in a Trust?

    An annuity is a contract between an individual and an insurance company. In which one has to make lump-sum payments or a series of payments. This insurance company invests the funds of an individual. Annuities are contracts issued and sold by a specific insurance company. Primarily, an annuity is a financial product that pays a fixed amount to an individual as an income to retirees. The period, when an annuity is funded and the period when an annuity begins to payout is referred to as the accumulation phase. But many of the people ask; can you put an annuity in a trust?

    Annuity and trusts

    • As a financial asset, an annuity overall is a part of the financial estate plan of its purchaser.
    • A trust is a fiduciary system. In which one person holds the property of another for the benefit of another. Then the grantor creates trust and transfer the document and transfers the trust.
    • The grantor may create this trust for a lifetime or specific period until the shares are there.
    • An annuity trust allows a person to set his property or estate to be managed through third party especially by the grantor. For the benefit purpose.
    • The person who is creating the trust is referred to as a settler and the one who manages the trust is known as a trustee.

    Types of annuity trusts

    There are mainly three types of annuities:

    • Fixed annuity
    • Variable annuity
    • Indexed annuity

     

    Fixed annuity:

    This option is granted as the least risk and the most predictable. Fixed annuities come with a guarantee, interest rate which does not vary beyond the terms of a contract. While other investments are unsteady while fixed annuity drives steady. However, the interest rate resets year to year but they do not fluctuate so frequently.

    Variable annuity:

    A variable annuity comes with greater risks and low predictability. As the risk is high, the reward will be high. Payments from variable annuities can increase if the shares portfolio does well. But if the portfolio does not work then it will create a great loss of money.

    Indexed annuity:

    Indexed annuities are also known as equity-indexed annuities. An indexed annuity has both the characteristics of fixed and variable annuities. It is a way to balance the risks and rewards which also carries lower risks and contain higher potential annuities. But the rate of its index can fluctuate according to the stock shares. The tradeoff is that this kind of annuity has higher costs and fees than a fixed annuity rate.

    Other annuity choices

    Can you put an annuity in a trust? There are numerous ways to design annuity for an individual. To include provisions for the owner and of the annuity and the beneficiaries. There are qualified and non-qualified annuities that refer to whether the annuity is regarding the qualified retirement accounts or taxation and withdrawal requirements. These options include:

    • Life-only annuities:

    This is the annuity that pays through the length of annuitants and no longer. You can provide additional provisions to an annuity which can provide for your spouse or even a refund.

    • Life annuities with period certain:

    It pays a certain number before the annuitant dies before the end of the period.

    • Joint and survivor annuities:

    It provides payments over the lifetime of both the annuitant and the beneficiary.

    How to put an annuity into a trust?

    Can You Put an Annuity in a Trust?

    People create a trust for many reasons. Like trust can help pass assets to future generations after annuitants death. Conduct business activities and charitable giving. When you put trust into an asset, it changes the whole treatment you receive. Ownership of the annuity, we can put it into a trust. Only with consent of the annuitant. While an annuity is a contract between an insurance company and a living annuitant.

    Assign ownership to trust

    If you own an annuity and now you want to put an annuity into a trust, then simply assign the ownership into a trust. But the only annuitant can do this. The policy has a  duration equivalent to the life of the annuitant, who is often the owner of the policy. If your intentions with putting an annuity into a trust are for profit, then you should put the beneficiary in an annuity too. The owner can specify a beneficiary to inherit proceeds after the death of an annuitant.

    Beneficiary designations

    Annuities are designed as a financial payment contract. Which continues proceeding after the death of an annuitant too. The beneficiaries, consider it as a lifetime investment. Your deposits will grow until you tell the company to start paying you back. If you die without getting payment back, the money will pass to your listed beneficiary. Putting an annuity in a trust will not involve the beneficiary designations into the contract. Before assigning ownership into the trust, make sure you listed beneficiary designations into the contract.

    Summary

    • Annuities are financial products, which offer guaranteed income streams, used mostly for retirees.
    • Existence of an annuity firstly as an accumulation phase. Where investors fund the product with either lump-sum payment or periodic payments.
    • The company begins paying out, once the annuitization period is reched. To the annuitant either  in a fixed period or for the lifetime of an annuitant.
    • Annuities are flexible for the annuitant. Structured into different kinds- variable, fixed, and indexed annuities

     

     

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  • Rental
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    Can My Landlord Evict Me in 3 Days?

    Eviction is one of the biggest threats landlords can make. Many will wonder can my landlord evict me in 3 days? But sometimes this threat of eviction is just an empty threat to collect rent from a tenant. The evictions laws can differ from country to country or state to state, very based on your location. The question which arises is that- Can My Landlord Evict Me in 3 Days? According to state laws, if your landlord wants to evict you from his property then he needs to do this process legally. Notifying the tenant with proper notice before eviction.

    Notice for cure

    If the tenant is violating the terms and conditions made by the landlord, then the landlord can begin eviction proceedings. But if this eviction is due to a violation of some terms like not paying rent by the tenant then he can give you a maximum of 30 days’ notice. If the tenant pays his rent then the landlord can keep him/her to remain on his estate.

    Can my landlord evict me?

    Can My Landlord Evict Me in 3 Days?

    There are several different types of notices landlords can serve tenants, according to the reason for eviction. Before preceding with the process, the landlord has to prove the tenant is an unlawful detainer. Then further summons and complaints would be filed against the detainer. There are some most common notices of vacating are:

    14-day pay or vacate:

    The tenant must be able to establish the decided rent of the property; if he is not able to establish it then he must vacate the property. 14-day pay or vacate is a notice, delivering the clear message that if the tenant is not paying rent according to the rental agreement then he has to vacate. If he could establish rent then the landlord cannot restrain him from his estate, there will be no longer eviction notice will remain. Some people accept to vacate the property within 14 days as they do not want to stick into any kind of eviction lawsuit.

    10 day notices to comply with terms or vacate:

    The landlord can serve 10 days’ notice if the tenant is violating the terms of the rental agreement. Before taking possession of the property, the landlord serves a rental agreement consisting of terms and conditions of living, but if a tenant is not following those terms and conditions, then the landlord can serve 10 days’ notice to comply with the terms or if you disagree with them then vacate the property. You can leave the estate if you are not agreeing with the terms and this will keep you away from unlawful detainer action against you.

    3-day notice for waste or nuisance:

    This is not a common kind of notice, a waste, nuisance is against illegal activity held by the tenant. It requires quick action against the one who is doing such illegal activity. If someone is driving a drug racket, abuse, or any nuisance then the landlord does not request to comply with any terms but directly orders to vacate the property. Then there is no room for a question, can my landlord evict me in 3 days? If a tenant is not agreeing over leaving property then he should have to face a lawsuit against him.

    20 day notice to terminate notice:

    This notice is to terminate the tenancy for a month to monthly renters. Tenants have to leave within 20 days; there are no extensions or exceptions for leaving the estate. In this notice, a landlord does not need to explain why he is asking to leave tenants. In the case where there is the tenant is injured or currently disable to move can request the landlord.

    How to respond to an eviction

    • The landlord gives you an eviction notice wanting you to leave, which is a worrisome situation filled with uncertainty.
    • Regarding which kind of notice you receive, you can have a critical time to face the eviction.
      Sometimes there is no slack remain for the remedy between tenant and landlord. This time, leaving is the only option left for the tenant.
    • Two parties are ready to resolve problems between them through communication, without going further with legal proceedings can solve the problem with harmony.
    • If the tenants are facing the issue and want some more time, then they can have legal procedures. This slows down the process to quit.
    • Knowing legal proceedings can help you to minimize your rental issues.
    • The intention of the eviction is about not paying rents. If the tenant pays the rents on time then it is considered as he compiled with the notice made by the landlord.
    • Having an open line of communication between tenant and landlord can sort out many problems in itself. In case of any dispute, the landlord would try to solve it by simply communicating first rather than going for legal procedures.

    Conclusion

    You received the first notice and possibly can receive another notice too, this tells that your landlord is initiating a court case against you. In some situations, landlords do not follow the whole legal procedures of eviction, this may create chaos, if this is a case then the tenant could deny the eviction. When the landlord file for eviction, automatically set up a court hearing. This is a chance for the tenant to keep his story before the court. And the landlord has the same right too. An eviction proceeding cannot be initiated until the tenancy is legally ended.

    Can my landlord evict me in 3 days? The answer is yes, but when the tenant is a wrongdoer and liable for a penalty of eviction otherwise, without a proper reason landlord cannot just kick you out of the property. If you don’t want to move out, then you can just leave any slack to point at, if it is about the rent then establish a proper schedule of payments of rents. Such notices would make a tenant either responsible or take unlawful detainer out.

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    Can I have two EIN Numbers?

    EIN stands for Employer Identification Number. Similar to a social security number, it is a unique nine-digit number issued by the Internal Revenue Service (IRS). The number helps to give the business a separate identity. This enables the law to differentiate it from other practices and also help the business out in tax procedures. Its format is as follows- XX-XXXXXXX. But the major question that arises is- Can I have two EIN Numbers?

    Akin to how the social security number aims to uniquely identify individuals of the state, Employer Identification Number (EIN) performs the same function. It enables the government to uniquely identify a business entity.

    Another similarity that stands out between a social security number and an Employer Identification Number (EIN) is the fact that it never expires and is completely unassignable to another business entity. It will solely belong to one particular business for as long as it continues to exist and operate. 

    The requirements for getting an Employer Identification Number

    Can I have two EIN Numbers?

    There are no restrictions related to the type of business venture as to which can apply for an Employer Identification Number (EIN). LLCs, corporations, government agencies, partnership and even sole proprietorship business ventures with only the owner as the sole member can apply for an Employer Identification Number (EIN) as long as certain requirements are fulfilled-

    • The location of the operation must be in the United States of America or within the territories of the United States of America.
    • The one applying for it should be a taxpaying citizen.
    • The one applying for it should have crucial identification documents like the social security number.

    The number of employees in the business is also not a point of concern regarding applying for an Employer Identification Number (EIN) since LLCs, corporations, partnerships and sole proprietorships alike can apply for an Employer Identification Number (EIN).

    Now, a common question might naturally arise in the mind regarding the need for an Employer Identification Number (EIN). The business entities pay their federal taxes online and to facilitate that, they need to make an Employer Identification Number (EIN). Furthermore, every taxpaying and functioning entity should necessarily have an Employers Identification Number (EIN). This enables them to perform basic functions like banking. The application process is also streamlined due to the ongoing digital sweep of literacy. One can simply apply for it without any hassle or tedious paperwork and fill out the easy to compile form on the website.

    Tax Identification Numbers

    A common point of misconception that often occurs while diving into the subject of Employer Identification Number (EIN) is the concept of Tax ID numbers. Contrary to popular beliefs, Tax ID numbers can most definitely be considered to be a synonymous term for the Employer Identification Numbers.

    Although, if it comes to minute details, a tax Id number is a generic term that is used for identifying taxpaying individuals in the US. On the other hand EIN identifies taxing business entities.  This is the main subtle point of difference between them.

    Being a generic term, TIN carries four names other than EIN under its umbrella-

    • Social Security Number (SSN)-  A SSN or the Social Security Administration is provided to every citizen of the USA. Only, if one meets the determined prerequisites.
    • Individual Taxpayer Identification Number (ITIN)- An ITIN is issued by the Internal Revenue Service (IRS). It is issued specifically to those taxpayers who for some reasons do not meet the requisites of the SSN and cannot file for it.
    • Adoption Taxpayer Identification Number (ATIN) – An ATIN is issued by the Internal Revenue Service (IRS). It is issued for a limited time for someone who is currently adopting a child but for some reason cannot get an SSN for the child.
    • Preparer Tax Identification Number (PTIN) – Internal Revenue Service (IRS) issues a PTIN to tax preparers who file taxes for others. As early as a few years back, tax preparers having an Employer’s Identification Number (EIN) was not necessary, but as of now, it has been made compulsory.

    Can I have two EIN numbers?

    To answer this frequently asked question, the main focus is on the basic functions of an EIN. This includes uniquely identifying a business entity to facilitate tax functions and other essential functions like banking and brokerage.

    The number of EINs one can have depends upon the number of businesses one own. The EIN helps the government to recognize the business as a taxpaying entity. Thus, it will be essential to create different EINs for different businesses.

    This rule does not apply if you change the name of your business or the core location of the business. One can easily change the name of the business or the location without having to file for a new EIN. Although, if the employer wants to expand the business or change its basic structure; it needs to file for a new EIN.

    Conclusion

    In a nutshell, filing for an EIN is necessary. It helps to get recognized as a legitimate taxpayer entity operating under the USA domicile. Tax Identification Number, although synonymous with an EIN is slightly different as it is a kind of broad spectrum of which EIN is a part. So, the question remains that can I have two EIN Numbers?

    An Employer Identification Number, to put mildly is like the Social Security Number for a business. So, if the entity pays tax then it needs to have one. If there are multiple business entities under the tutelage of the same employer,  they should have different EINs.  These are not only for tax purposes, but also for banking and brokerage functions. The system remains the same if for example; a sole proprietorship business is leaning towards becoming a corporation. Running multiple businesses under the same LLC is also a possible option. This is because the employer won’t have to file for different EINs in that case.

     

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  • Rental

    Can a surviving spouse change a trust?

    Most of us write several wills throughout our lives, and as our circumstances change, so does our estate planning. Like a will, a living trust can be changed at any time. One of the most appealing aspects of a revocable living trust is its flexibility. You can change or terminate its terms at any time. Can a surviving spouse change a trust?

    However, we sometimes see married couples give a general or restricted power of appointment to the surviving spouse, who is often serving as trustee. Mostly, they enable the surviving spouse/trustee to make changes to the trust. Such as removing or changing beneficiaries and/or changing the distribution of trust properties.

    Spouse and You

    If you and your spouse created a joint trust, either of you has the right to revoke it. You must both agree in writing if you want to change any trust terms, such as the beneficiary or successor trustee. Transferring real estate out of the living trust would almost certainly necessitate the consent of both spouses. Sellers and title insurance companies typically require both spouses’ signatures on transfer papers. 

    When one spouse dies, the surviving spouse may change the terms of the trust contract that deal with his or her property. But, not the sections that determine what happens to the deceased spouse’s trust property.

    Power of Appointment 

    A power of appointment is typically granted only to the surviving partner. For example, if a married couple creates a trust, the trust can grant power of appointment to the surviving spouse after one of them dies. The purpose of this power of appointment is to allow the surviving spouse to make changes to the trust for their own benefit or that of their children and heirs.

    Is it possible for a trustee to exclude a beneficiary from a trust?

    A trustee cannot usually exclude a beneficiary from a trust. An irrevocable trust is unchangeable. It ensures that the trust’s beneficiaries receive exactly what the trust’s founders intended. However, if the developers of the trust grant the trustee a power of appointment, the trustee would have the authority to make any or all adjustments in accordance with the terms of the power of appointment.

    The surviving partner is usually only granted a power of appointment. For example, if a married couple creates a trust, the trust can grant power of appointment to the surviving spouse after one of them dies. The purpose of this power of appointment is to allow the surviving spouse to make changes to the trust for their own benefit or that of their children and heirs.

    In the case of two spouses –

    In Motion: The AB Trust System

    If the first spouse dies, the trust’s beneficiaries (usually the couple’s children) inherit the deceased spouse’s assets. This irrevocable trust, however, will benefit the surviving spouse. One who does not legally own the land. The surviving spouse must have access to the property.

    In some cases, the surviving spouse may also invest the principal. When the surviving spouse dies, the property rights and privileges of the irrevocable trust pass to the trust’s surviving beneficiaries. Because the surviving spouse does not own the property, it is exempt from inheritance tax.

    Surviving spouse change a trust?

    Rights of the Surviving Spouse to the Assets

    As previously stated, the AB trust is left with the provision that it only benefits the surviving spouse. Depending on the provisions of the trust, Surviving spouse change a trust? This gives the surviving spouse some control over the assets.

    The rights and benefits of the surviving spouse include receiving all income from the trust property, including:

    1. Interest or affection

    2. Making use of the land

    3. Investing in his or her fitness, care and upkeep, quality of living, and education

    When the surviving spouse dies, the original trust’s beneficiaries receive all of the lands. And the surviving spouse’s property goes to his or her beneficiaries.

    In the case of Marital Trust

    In every revocable living version, there are two types of people. The first is the individual who benefits from the arrangement while the bestower is still alive. The second is the individual who benefits from the arrangement while the bestower is still alive. 

    The agent(s) and trustee(s) are frequently the same people or people. However, the property is passed on to a beneficiary when this agent dies. When one of the spouses dies, the contracts are written in such a way that the surviving partner becomes the sole trustee of the marital trust.

    In the case of AC trust 

    1) When the first partner passes away, the C trust becomes irrevocable and unmodifiable. (meaning the surviving spouse cannot alter those trusts, or add, change, or remove beneficiaries or gifts from those trusts). 

    2) The surviving partner’s use of the principal in the C trust must be limited to an ascertainable level. 

    3) The surviving spouse is almost always the successor. As such, the surviving spouse is liable and accountable to the C trust’s future “inheritors” for properly using the estate. He/she must make accountings and provide a copy of the trust to the heirs and future beneficiaries at various stages.

    4) Following the death of the first spouse, the surviving spouse must correctly assign, title assets, obtain tax ID numbers for, and retain the C trust. 

    5) For the rest of their lives, the surviving spouse must faithfully monitor and maintain records of each trust’s assets and transactions. As well as file separate tax returns for the A and C trusts.

    Finally, do whatever makes you feel most at ease.

    There are no right or wrong answers in this decision; only philosophies and attempts to address these issues based on what is undoubtedly incomplete information about the future. As a result, in the end, you should always choose what is comfortable for you and appropriate for your situation. Just make sure you make your decision with your eyes open. It all depends on the trust that surviving spouse changes a trust?

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  • Coporation

    Can a church be incorporated?

    Churches have historically acted as unincorporated associations, which subjected the church and its personnel to legal responsibility for debts, injuries, and adverse acts performed by workers under the church’s oversight. Can a church be incorporated? Many churches have chosen to incorporate in order to benefit from the benefits.

    It gives privileges afforded by the corporate legal system. In other words, the process of merging your church differs by state, but there are several similarities. Therefore, most states allow churches to incorporate as a charitable entity under nonprofit corporations law.

    The Church – Non-Integrated

    A non-incorporated church is, by definition, a voluntary group of individuals who have agreed to collaborate on a common cause. Some of the legal features of such an organisation are as follows:

    • The trustees serve on behalf of the entire membership. 
    • Religious Organizations Land Act (ROLA) allows trustees to own the property.
    • While the church does not have a legal identification independent from its members when it has its own name.
    • Cases are brought by or against the trustees if brought against the church. And Trustees, officials, and members are collectively responsible for the church’s behaviour.
    • Moreover, church liability insurance does not have a full safeguard.

    Can a church be incorporated?

    The Church Incorporated

    The group has a distinct legal entity from its members since it is an incorporated church. This gives the membership structure as well as limited liability. The following are some of the legal aspects of a consolidated body:

    • Separate legal body – the church operates independently of its membership.
    • A corporation can own land in its own right.
    • Indefinite life – the company remains in perpetuity.
    • Limited liability for members – offers some protection for members’ personal properties. 
    • Officers’ indemnification – the church can buy Directors and Officers benefits. It provides leadership with insurance against personal loss
    • With a few exceptions, the Church will purchase, sell, lease, and mortgage property much like any other company.

    Why incorporation of church is done?

    When a company becomes incorporated, it gains the same legal rights and responsibilities as an individual. There are numerous reasons why churches and other ministries should think about incorporating. After all, the most important is to shield individual members from personal liability resulting from fellow members’ negligent actions.

    If your church or ministry is already incorporated, many states require annual paperwork to maintain your corporate status. This includes submitting a straightforward annual report to the Secretary of State’s office.

    The Benefits of Incorporation

    The following are a few examples of when integration can be advantageous:

    • Building programme or extension carries debt, negligence, third party or volunteer risks. participation
    • Taking on debt – a risk associated with fundraising efforts
    • Hazardous ministries – unsafe operations such as schools, camps, children’s clubs, or mission trips, etc. ministries to the society
    • Jobs – chance of unfair termination, etc.
    • Volunteers – threats associated with church discipline, child neglect, and so on.

    Disadvantages to Incorporation – 

    There are certain drawbacks to incorporation that may lead a church to rethink. Among these are: 

    • Expense – For a small congregation, the cost of incorporation may be prohibitively expensive. The majority of the expense would, of course, be legal fees. If the incorporation committee is capable of doing preliminary research and writing documents. Some lawyers are willing to do pro bono work, particularly if they are church members.
    • Time – the process is lengthy, with most churches taking 12 – 18 months to complete the entire process. It is preferable to take one’s time, properly prepare the papers, and go through the process the first time.
    • Greater regulation/compliance – It is appropriate to comply with applicable legislation once the church is organised. And also to pay more attention to the procedures outlined in the new bylaw.

    How can a church be incorporated?

    1. Approval of members-

    Obtain the approval of church members before incorporating. Usually, this means convening a conference of the church hierarchy to vote on the suggestion. When the church leadership agrees to integrate and the question is taken to the church members for approval by a general vote of certain denominations.

    2. Appointment

    Appoint someone to serve as the incorporator, who will handle the paperwork. Anyone who is able to prepare and file the articles of incorporation will serve as the incorporator. It does not have to be a church elder. 

    3. Registered Agent

    Choose a registered agent. A steward is an individual or organisation with a physical address in the state who may receive official mail on behalf of the church. Some states allow the church to function as its own registered agent by using the physical address of the church. Similarly, in certain states, you must appoint a person or a corporation to serve as your registered agent.

    4. Non-profit articles

    Prepare nonprofit articles of incorporation that are in accordance with the laws of the state in which the church is based. Many states have a template that can be downloaded from the website of the secretary of state. Also, there is another state website for the department that manages business registrations.

    The fill-in-the-blank template guides you through the bare minimum of details required to prepare suitable posts. The nonprofit articles of a church should usually identify it as a membership-based nonprofit corporation. Rather than the sort of nonprofit corporation that requires a board of directors. In addition, the church would also almost certainly want to incorporate an intent clause from the church’s constitution or another governing document.

    The state must get the filled the nonprofit articles of incorporation. Therefore, the incorporator must sign the papers. States also accept mail and fax by mail for nonprofit publications. Some states have an electronic filing system that can be accessed through the Internet. The article must include the filing fee for the state. The incorporation completes after the approval by the state.

    Author’s Note

    In conclusion, church incorporation can be done in various ways. The rules differ from state to state. Thus, the incorporation process has both advantages and disadvantages at the same time.

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  • Coporation

    Can an LLC have employees?

    Can a limited liability company (LLC) hire people? Yes, an LLC can hire an unlimited number of employees. When it comes to LLCs and their employees, however, some important distinctions must be made.

    LLC?

    LLCs, or limited liability corporations, are a very popular business structure. LLCs provide the benefits of corporate liability protection without the need for separate tax return filings or the risk of double taxation.

    Employees can work for your LLC regardless of whether it is managed by its members or by managers. And regardless of how many members it has. To be an LLC member, it’s not compulsory for an employee. But members may choose to be employees as well.

    Employee?

    An employee is defined legally as an individual hired for a wage, salary fee, or payment to perform work for an employer. Remember that employees are not the same as independent contractors. The former works for the company directly, whereas the latter does not.

    This distinction is significant when determining whether specific laws apply to the business. As some laws become effective only after a company has attained a certain number of employees.

    Can an LLC have employees

    It can also affect whether an individual is eligible for worker’s compensation. Or whether the LLC can be held liable for any damages caused by an individual. An LLC will be subject to limited liability for any damages caused by an employee, but the protections will not apply to the company’s employees. This means that members cannot be held personally liable for the loss caused by an employee, but the LLC can. If an employee’s actions result in company liabilities, the liability protections apply only to members, not employees.

    IRS does not consider LLC employees as self-employed. Whereas the IRS considers LLC owners as self-employed. According to state law, LLC members are neither LLC partners nor LLC employees. Of course, if you are an LLC owner, you work for the LLC, but this does not automatically imply that you are an employee. Employees of  LLC are not. This necessitates the filing of returns and payroll taxes, just like any other type of business.

    Employees and the LLC

    LLCs are popular due to the liability protection they provide to a company’s owners. In the event that an employee’s actions result in liabilities for the company. These safeguards apply only to the owners and not to the employees. Even though the company’s owners are not personally liable for the actions of its employees, the LLC is. Any damage caused by an LLC may hold an employee responsible for that.

    Who Is Eligible to Work as an Employee?

    The first step in determining your individual tax status is to clarify your role within an LLC and how you earn income. To be in compliance with the law, you must also understand how the IRS will tax your LLC income.

    In order to hire employees, an LLC must obtain an Employer Identification Number (EIN) from the IRS. Tax reporting and other documentation, as well as for other financial and taxation purposes are some uses. Such as opening a business bank account. In certain states, in addition to the other initial LLC enrollment filings, you must enrol as an employer.

    This employer categorization is typically used for tax purposes. It may also implement annual registration requirements or statutory compliance reports. The IRS requires LLCs to file returns and pay payroll tax, like all other business entities that directly hire employees.

    Workers’ compensation insurance is required for any company that employs people. Certain posters informing employees of their rights and the responsibilities of their employers under labour laws must be posted in the workplace.

    Exceptions for Members and Employees

    If the LLC chooses to be taxed as a corporation, it can also choose to hire its members as employees who are paid a “reasonable” salary based on industry standards. State regulations determine the terms and conditions of appointing a member as an employee. They may vary from state to state and from year to year, so please research your state’s laws.

    The IRS may consider earnings to be employment income if it is the result of services offered to or on behalf of the LLC in exchange for a guaranteed payment. If a member is hired, his or her salary is subject to regular federal withholding taxes rather than self-employment taxes. This can be extremely beneficial.

    If you’re a member, another option is to hire your spouse as an employee. The LLC’s reported profits would be reduced and also the self-employment tax because of their salary. It’s critical to think about the proper and legal ways to do this. And your spouse must actually perform the duties expected of an employee.

    Author’s Note

    So, the answer to the question Can an LLC have employees is yes. An LLC may own unlimited employees. Few exceptions are always there. The LLC has to follow a basic procedure stated by the IRS or state to hire an employee. It has to follow all the guidelines regarding the owners and employees. 

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  • Rental

    ‘’Can My Landlord Evict Me in Three days?”

    Eviction is one of the biggest threat landlords can make. Your landlord has the rights to evict you in three days. But sometimes this threat of eviction is just an empty threat to collect rent from the tenant. The evictions laws can differ from country to country or state to state, very based on your location. According to state laws, if your landlord want to evict you from his property then he need to do this process legally. I.e. notifying tenant with proper notice before eviction.

    Notice for cure

    If tenant is violating the terms and conditions made by landlord, then the landlord can begin eviction proceedings. But if this eviction is due to violation of some terms like not paying rent by tenant then he can give you maximum thirty days’ notice, if tenant pays his rents then landlord can keep him/her to remain on his estate.

    Can My Landlord Evict Me in Three days?

    Eviction process

    There are several different types of notices landlord can serve tenant according to the reason of eviction. Before preceding, the process landlord has to prove the tenant is an unlawful detainer. Then further summons and complaints would be filed against the detainer. There are some most common notices of vacating are:
    14-day notice to pay or vacate:

    Can My Landlord Evict Me in Three days? The tenant must be able to establish the decided rent of the property. If he is not able to establish it then he must vacate the property. 14-day pay or vacate is a notice delivering the clear message that if the tenant is not paying rent according to the rental agreement then he have to vacate. If he could establish rent then landlord cannot restrain him from his estate, there will be no longer eviction notice will remain. Some people accept to vacate the property within 14 days as they do not want to stick into any kind of eviction lawsuit.

    Can My Landlord Evict Me in Three days?

    10 day notices to comply with terms or vacate:

    The landlord can serve 10 days’ notice if the tenant is violating the terms of the rental agreement. Before taking possession of the property, landlord serves an rental agreement consisting of terms and conditions of living. But if the tenant is not following those terms and conditions then landlord can serve 10 days’ notice to comply with the terms or if you disagree with them then vacate the property. You can leave the estate if you are not agreeing with the terms and this will keep you away from unlawful detainer action against you.

    3-day notice for waste or nuisance:

    This is not common kind of notice, a waste, nuisance is against illegal activity held by the tenant. It requires quick action against the one who is doing such illegal activity. If someone is driving a drug racket, abuse or any nuisance then landlord do not request for comply of any terms but directly orders to vacate property. If tenant is not agreeing over leaving property then he should have to face a lawsuit against him.

    20-day notice to terminate notice:

    This notice is to terminate the tenancy for month to month renters. Tenants have to leave within 20 days; there are no extensions or exceptions for leaving estate. In this notice, landlord does not need to explain why he is asking to leave tenants. In case where there is tenant is injured or currently disable to move can make request to landlord.

    How to respond to an eviction?

    When your landlord gives you an eviction notice wanting you to leave, is worrisome situation filled with uncertainty. Regarding to which kind of notice you receive, you can have critical time to face the eviction. Sometimes there is no slack remain for the remedy between tenant and landlord, this time leaving is the only option left for tenant.

    If two parties are ready to resolve problems between them through communication. Without going further with legal proceedings can solve problem with harmony. If the tenants are facing issue and want some more time. Then they can have legal procedures for slowing down the process to quit. Having knowledge about legal proceedings can help you to minimize your rental issues.

    If the intention of the eviction is about not paying rents, if the tenant pays the rents on time then it can be considered as he compiled with the notice made by the landlord. Having an open line communication between tenant and landlord can sort out many problems in itself. In case of any dispute, the landlord would try to solve it by simply communicating first rather than going for legal procedures.

    First Notice – 

    You received first notice and possibly can receive another notice too, this tells that your landlord is initiating a court case against you. In some situation landlords do not follow the whole legal procedures of an eviction, this may create chaos, if this is a case then tenant could deny the eviction.
    When landlord file for eviction, automatically set up a court hearing, this is a chance for tenant to keep his story before court. And the landlord has the same right too.

    If court decides to evict the tenant then sheriffs takes the tenant out or pay someone to take him out of the property. And landlord himself can take tenant out without having sheriff’s deputy to enforce the court order. An eviction proceeding cannot be initiated until the tenancy is legally ended.

    Summary- 

    Can my landlord evict me in 3 days; the answer is yes, but when the tenant is a wrongdoer and liable for a penalty of eviction otherwise without a proper reason. The landlord cannot just kick you out of the property. As statute laws have provided you with some rights you cannot be just thrown away.
    If you don’t want to move out, then you can just leave any slack to point at. If it is about the rent then establish a proper schedule of payments of rents. Such notices would make the tenant either responsible or take unlawful detainer out.

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  • Certification
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    How to Fill Out a Stock Certificate?

    How to Fill Out a Stock Certificate?

    This article is about; How to fill out a stock certificate? In corporation law, the legal document of the stocks or shares is a Stock Certificate. However, stock certificates are digital but still, many companies use the paper version. This is to maintain the formality in between. Although both of them are effective.

    What is a Stock Certificate?

    According to corporation law, a stock certificate is a legal document. It is responsible for the entitlement of the ownership of an individual. Also, entitle the number of shares or stock in a corporation. Historically, such certificates have been required for the evidence to dividends. The stock certificate work as a receipt for the payment being endorsed on the back. And the original certificate may have been required for the effective transfer of the stocks.

    Nowadays, many corporations provide a holding statement in lieu of a stock certificate. Most jurisdictions require a stock certificate in corporation cases.

    How to Fill a Stock Certificate?

    There are some steps you should have to follow while writing a stock certificate. One should know what the steps are when he is in search of, how to fill out a stock certificate? Following are some steps:

    • Application Law

    In the very first lines, you have to fill in the name of the state. Exact where the corporation is situated. However, this is for knowing the location of the corporation. Where you held your business entity.

    • Company Identification

    Second, you have to write the name of your corporation. Adding the name of your company is the most obvious thing to mention in the certificate. In case you obtain the article from the incorporation book, moreover, it is surely already written.

    • Name of the Shareholder

    Third, the next step is for the name of the shareholder. However, make sure you have written the name of the shareholder correctly.

    • The Number of Shares

    After that, you need to address that how many shares the person is buying. Adding with the specification of the exact amount of the shares in the certificate.

    • Corporate Officer’s Signature

    The document must have the signatures of at least two authorized officers. The certificate may have the signatures of the president, Vice-president, Secretary, or treasurer.

    • Company Embossed Seal

    Once you are done with writing all the required information in the certificate, you have to seal it. Each company possesses its own seal. This seal helps to identify the company through its seal which has the exact embossment of the company.

    • Date

    Fill out the date column and also include the exact month and year.

    • The Certificate’s Identification Number

    At the very top of the document write the certificate’s identification number. Mainly, the number is written on the right-hand side of the certificate.

    • Share’s Identification Number

    Lastly, put the shares numbers in the certificate. Also, put the prices of transactions. This number is written on the top right side of the document.

    How to Fill Out a Stock Certificate?

    Advantages of Stock Certificates

    • Although it can be tangible proof if anyone asked.
    • This certificate can play a vital role in corporation legal cases.
    • Stock certification can put a stop to a conflict regarding the rights of ownership.
    • Since the stock certificate contains all the vital information regarding the owner and the shares. It is like a handy proof.
    • It negotiates the world’s exchanges of shares and stocks.
    • The stock certificate is a very easy process to issue. You can easily issue it via a broker.
    • You can locate the company and shares through the stock certificate.
    • Stock certificates do not have an expiry date.
    • They simply maintain possession of the stocks or shares.

    Stock Certificates Are No Longer Necessary

    Over the period, one company after the company stopped issuing stock certificates. It is not a newsworthy thing to hit. But it has found on the big criteria over the period. Nowadays, all the companies put an electronic record in spite of any paperworks.

    Online brokerages and the internet have made physical stock certification a thing of the past. Still, you can request a stock certificate via a broker. Brokerage firms keep an account on your shares that you hold with your entitlement. The stock certification cannot dim the value of these electronic records in any way.

    The outdated stock certificates were so simple and straightforward. Whereas, companies create certificates online that are most visually impressive. These certificates are most appealing.

    Summary

    If you own stock there is a good chance you have a stock certificate. But after the internet, usually, people prefer online procedures because internet service is the long-living service you can have in today’s era. However, stock certificates are the physical proof of your ownership. It prevents you from any disputes regarding the corporation. Even if the internet has changed things, but still the purpose behind the stock certificate is unbeatable.

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  • Uncategorized
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    How to Check if Savings Bond Has Been Cashed?

    More than 55 million people own savings bonds. It has been a popular tool for investors. The reason for the popularity, there is a government behind which provides a guaranteed return. According to the Treasury Department, most people possess billions of dollars in savings bonds that haven’t even cashed in. How to Check if Savings Bond Has Been Cashed?

    By sources, there are approx $ 16 billion savings bonds that are unclaimed. If you have at least one savings bond and want to check if the savings bond has been cashed or not. This article is for; How to check if savings bond has been cashed?

    Visit Treasury Direct

    You can check your savings bonds either on the web, postal, or telephone service. You can check this online. Login to treasurydirect.gov, and check out if your bond has been cashed. However, if you don’t have an account then follow these steps:

    • Click on the ”Open an Account” option from the same website. This option would be present on the right side.
    • In the aftermath following the prompts as shown there.
    • Although click on the link ”Check Treasury Hunts”, after logging in.
    • Scroll down to the next page, click on the ”Start Search” button.

    How to Check if Savings Bond Has Been Cashed?

    Enter the Requested Information

    You need to provide the Social Security Number (SSN) or the Employer Identification Number (EIN) which is on the bond. Then press the “Search” button. Moreover, you will be taken to the bond details. Otherwise, if that number does not match you will get a message of no found.

    You can check if a bond has been cashed or not if you have EIN or SSN. The detailed information can only be known by an owner.

    Send an E-mail

    The Treasury Department provides you with the section “Write us”. In case you didn’t find your match, this section provides you with written help. If you are sure of having matured savings bond and unable to find it, then this feature is quite a helping. If you are receiving bonds because of death, you will need to provide a death certificate too.

    Call Treasury Direct

    Another option is to dial a customer service number and complain them a dispute. Then you will need to provide then a serial number of the savings bond. By this route, at the same time, you can also know if your bond has been cashed, lost, or destroyed. However, you can replace the bond or get its cash.

    Adding, calling may take a long time sometimes. However, sending an e-mail is the least time-consuming option.

    Gather Supportive Information

    • While finding your savings bond you will need to provide as much information as possible.
    • You can process redeeming with your bond in the aftermath of finding a savings bond.
    • Sending a written request of your savings bond is the most effective and quick resulting thing.
    • In case your bond has been destroyed, file Form 1048. You can claim for lost, stolen, or destroyed savings bonds here.

    The Facts You Have to Know

    • Savings bonds have the popular acceptance for the surety of it. You don’t have to worry about the repaid and other things of money.
    • The treasury bonds and the savings bonds are interchangeable.
    • Savings bonds have a low-interest rate.
    • You can save money for up to 20 years. If you are not looking for 20 years of savings, then you can have a series bond.
    • If you desire to save money for short period, then saving bonds is not a worthy option for you.
    • Series bonds can fluctuate more than savings bonds.
    • Also, this bond invests a fixed amount of interest.
    • Savings bonds do not add local taxes. This feature is one of the most benefit making things.

    Summary

    How to check if a savings bond has been cashed? Savings bonds are some most popular ways of investment. The people who are looking for a fixed income source usually go for it. The Treasury Direct provides internal services to redeem your savings bond. There are some effective ways of finding if your bond has been cashed or not. Savings bonds have low-interest rates still they are considered beneficial.

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