Earthblog

REAL ESTATE LAW

The Situation:

Our client wanted to purchase 15 hotels in four states from ten unique sellers, with a total purchase value over $100 million.  Our client did not have a local presence and wanted ZMA Legal to represent them through the negotiation, drafting and closing of the properties.

What We Did:

We drafted an asset purchase agreement which was specifically tailored to the purchase of the debts and assets of hotels.  We did our due diligence by making sure the Seller's were not withholding information about any of the properties.  We also assisted in the valuation and negotiation of the terms of purchase.  ZMA Legal drafted licensing agreements, assisted in franchise applications, negotiated tax prorations, drafted operating agreements and created new corporate entities to make the sale a success.

This is only one of many scenarios and real estate solutions in which ZMA Legal can assist. In order to find the best solution for your individual circumstances, contact ZMA Legal to discuss your options.

BUSINESS LAW

The Situation:

Our client was part of an upstart online food distribution company.  As a national distributor of food, our client had concerns about any legal issues facing them.  Of main concern to our client were product branding and liability.

What We Did:

We immediately audited the company to pinpoint all areas of legal weakness.  We discovered the company had not been properly incorporated and this could cripple the limited liability protection.  As a result, we were able to correct the issues with the corporation before any serious problems arose.  Next, we drafted and implemented terms of service and privacy policies for its website.  By doing this, we prevented the possibility of lawsuits by individuals claiming their identity was not protected.  Finally, we did a thorough search for companies with similar names and filed for trademark protection of the website, company name and logo; thus protecting the intellectual property of the company from copycats.

This is only one of many scenarios and business law solutions where ZMA Legal can assist your company.  In order to find the best solution for your individual circumstances, contact ZMA Legal to discuss your options.

ESTATE PLANNING

The Situation:

Our clients have been married 30 years and have two young children. When one spouse passes their net worth will be $2,287,000.  $1.5 million is in the form of an insurance policy paid out to the spouse upon the death of the other spouse.  While our clients were careful in purchasing life insurance, they did not have a will in place.  Still, his assets passed to his wife under the state’s intestate statute. If no estate planning was done, even if all the assets were passed to one spouse under a spousal exemption, the assets of the remaining spouse would be subject to tax. Since their children were young, they wanted to make certain that the children went to college and that they did not receive a lump sum amount upon both of their passing.

What We Did:

We immediately drafted wills for the couple so that there is added protection over the state’s rules of distributing assets of someone who dies without a will. We also set up a life insurance trust to hold the proceeds of the life insurance.  We named the surviving spouse as the life beneficiary and the kids as remainder beneficiaries. This means that the funds would be kept out of the surviving spouse’s estate while still allowing them to benefit from the proceeds.  We also set up a trust for the children, maintaining that they could not get a full distribution of assets. The trust stipulated that the children would get no money unless they went to college, that the trust would make payments for their college expenses, and that they would get a full distribution from the trust at age 30.

We also suggested a gifting strategy, after one spouse passes, to trusts for her children in order to slowly reduce their estate over the years.

This is only one of many scenarios and estate planning solutions which could minimize estate taxes. In order to find the best solution for your individual circumstances, contact ZMA Legal to discuss your options.