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Failure to Disclose Law

Failure to Disclose Law

The Securities and Exchange Commission announced an enforcement action against an investment advisory firm that failed to properly prepare clients for additional transaction costs beyond the “wrap fees” they pay to cover the cost of several services bundled together.

In wrap fee programs, subadvisers typically use a sponsoring brokerage firm to execute their trades on behalf of clients, and the costs of those trades are included in the annual wrap fee that each client pays. An SEC investigation found that Richmond, Va.-based RiverFront Investment Group disclosed to investors in Forms ADV that client trades were typically executed through the sponsoring broker so the wrap fee would cover the transaction costs. But RiverFront actually used brokers besides the wrap program sponsor to execute the majority of its wrap program trading, resulting in additional costs to clients for those transactions. While RiverFront did disclose that some “trading away” from the sponsoring broker could occur, the firm inaccurately described the frequency, rendering its disclosures materially misleading.

RiverFront agreed to settle the SEC’s charges. “Investors were misled about the overall cost of selecting RiverFront to manage their portfolios,” said Sharon Binger. “Investors in wrap fee programs pay one annual fee for bundled services without expecting to pay more, so if subadvisers like RiverFront trade in a way that incurs additional costs to clients, those costs must be fully and clearly disclosed upfront so investors can make informed investment decisions.”

The SEC’s National Exam Program has included wrap fee programs among its annual examination priorities, particularly assessing whether advisers are fulfilling fiduciary and contractual obligations to clients and properly managing such aspects as disclosures, conflicts of interest, best execution, and trading away from the sponsor. The SEC’s order against RiverFront finds that the firm violated Sections 207 and 204 of the Investment Advisers Act of 1940 and Rule 204-1(a). Without admitting or denying the findings, RiverFront agreed to be censured and pay a $300,000 penalty, and the firm must post on its website on a quarterly basis the volume of trades by market value executed away from sponsors and the associated transaction costs passed onto clients.

Investment Adviser Law

The Securities and Exchange Commission proposed a new rule that would require registered investment advisers to adopt and implement written business continuity and transition plans. The proposed rule is designed to ensure that investment advisers have plans in place to address operational and other risks related to a significant disruption in the adviser’s operations in order to minimize client and investor harm.

“While an adviser may not always be able to prevent significant disruptions to its operations, advance planning and preparation can help mitigate the effects of such disruptions and in some cases, minimize the likelihood of their occurrence, which is an objective of this rule,” said SEC Chair Mary Jo White. “This is the latest action in the Commission’s efforts to modernize and enhance regulatory safeguards for the asset management industry, which includes rules previously proposed that would modernize the information reported to the Commission and investors, enhance fund liquidity management, and strengthen the regulation of funds’ use of derivatives.”

Business continuity and transition plans would assist advisers in preserving the continuity of advisory services in the event of business disruptions – whether temporary or permanent – such as a natural disaster, cyber-attack, technology failures, the departure of key personnel, and similar events.

The proposed rule would require an adviser’s plan to be based upon the particular risks associated with the adviser’s operations and include policies and procedures addressing the following specified components: maintenance of systems and protection of data; pre-arranged alternative physical locations; communication plans; review of third-party service providers; and plan of transition in the event the adviser is winding down or is unable to continue providing advisory services. The plans would be required to address these elements that are critical to minimizing and preparing for material service disruptions, but would permit advisers to tailor the detail of their plans based upon the complexity of their business operations and the risks attendant to their particular business models and activities.

The proposed rule and rule amendments also would require advisers to review the adequacy and effectiveness of their plans at least annually and to retain certain related records.

In addition to the proposed rule, SEC staff issued related guidance addressing business continuity planning for registered investment companies, including the oversight of the operational capabilities of key fund service providers.

The proposal will be published on the SEC’s website and in the Federal Register. The comment period will be 60 days after publication in the Federal Register.

Smaller Reporting Company

In 2016, the SEC issued proposed rule amendments that would increase the financial thresholds in the definition of smaller reporting company as used in the SEC’s rules and regulations. If adopted, the proposal would expand the number of registrants that qualify as SRCs.
Under the proposed rule amendments, a company would qualify as an SRC if it is not an excluded issuer and has either:

• Less than $250 million in public common equity float as of the last business day of their most recently completed second fiscal quarter.
• For companies with a zero public common equity float, less than $100 million in revenue during its previous fiscal year.
A company that loses SRC status:
• Because its public common equity float increases above $250 million would not be able to regain SRC status until it could determine that its public common equity float fell below $200 million as of the last business day of its second fiscal quarter.
• Because its annual revenue exceeds $100 million and it has zero public common equity float would not be able to regain SRC status until it could determine that its annual revenue fell below $80 million for the preceding fiscal year.

The proposed rules would also amend the definitions of accelerated filer and large accelerated filer to eliminate the provision in each that specifically excludes SRCs but would preserve the provision regarding the size of companies that are subject to the accelerated filer disclosure and filing requirements. As a result, companies with $75 million or more of public common equity float would maintain SRC status under the amended definition, but would become subject to the requirements that apply currently to accelerated filers, including the: (a) Reduced timing to file periodic reports; and (2) Requirement that accelerated filers provide the auditor’s attestation of management’s assessment of internal controls over reporting required by Section 404(b) of the Sarbanes-Oxley Act of 2002.
The proposed rule amendments do not affect the scope of existing SRC scaled disclosure requirements.

Failure to Disclose Lawyer Free Consultation

If you have an issue with failure to disclose law, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/failure-to-disclose-law/

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Emancipation Law

Emancipation Law

You are considered a child and under the
legal custody of a parent or guardian until you turn 18 (in most states),
when you are granted adult status, also called the “age of majority.” Adults,
of course, and minors who are “emancipated” do not need a parent’s permission
to sign a legally-binding contract, get medical care, enroll in vocational
school, or engage in other activities that otherwise require a parent’s
permission. When a minor is emancipated, through court order or other means,
the minor legally becomes an adult.

Should You Get Emancipated?

Many a teenager fantasizes about living on
their own. But in reality, the day-to-day responsibilities can be overwhelming
even for seasoned adults. This is not to say that there aren’t good reasons for
moving out and getting emancipated. But minors must carefully weigh the pros
and cons, while making an honest assessment of their needs.

So before you ask, “How do you get
emancipated?” you should ask whether you should get emancipated. Consider the
following:

  • You will have to find and pay for a place to live (which may need to be furnished).
  • You will need to pay for your own health care.
  • You will have to buy and cook your own food.
  • You will be legally responsible for all contracts you sign.
  • You may now be sued and held financially liable.
  • Being emancipated does not entitle you to vote or buy alcohol.

Every situation is unique, but here are some
scenarios where it may be a good idea to become emancipated from your parents:

  • You are legally married.
  • You are financially independent.
  • Your parents are abusive, neglectful, or otherwise harmful to you.
  • You have moral objections to your parents’ living situation.
  • You have been kicked out of your house.

If you’ve carefully considered your reasons
for becoming emancipated and have a clear understanding of what it means to
live on your own, it’s time to explore your options.

How Do You Get Emancipated Without a Legal
Declaration?

It is possible to become emancipated without
going through a complicated court process, but the options are limited and
require a parent or legal guardian’s permission. In some states, if you get
married before reaching the age of majority, you may become emancipated without
a court’s permission. In Pennsylvania, for example, minors aged 16 to 18 who
marry are automatically emancipated. Government agencies in that state
generally have the authority to decide whether a minor is emancipated without
the need for court approval.

The other out-of-court option for getting
emancipated is by joining the military, which also requires a parent or
legal guardian’s permission. The legal minimum age for joining the U.S. Armed
Forces is 17.

How Do You Get Emancipated Through a Court
Order?

If you are not married or enlisted in the
military, or are unable to get parental permission, you may file for
a declaration of emancipation in court. Some states (like Delaware and
Maryland) do not allow for the emancipation of minors by court order. Other
states require the minor to be at least 16. In Utah, for example, minors as
young as 14 may become emancipated.

States that allow for judicial emancipation
will consider whether it serves the minor’s best interests. The following considerations
typically figure into the court’s decision:

  • Are
    you financially self-sufficient (excluding government aid)?
  • Have
    you made stable living arrangements?
  • Are
    you mature enough to make adult decisions?
  • Are
    you enrolled in school or have a high school diploma?

State emancipation laws vary, but most state
courts charge a filing fee of between $150 and $200. You must file the petition
with the court and notify your parents or legal guardians (required by most
states). Then the court will schedule a hearing.

At the hearing, the judge will ask questions
and hear evidence before deciding whether you should be emancipated. If the
court rules in your favor, you will be issued a declaration of emancipation
(copies of which may be given to doctors, schools, landlords, etc.).

Emancipation Lawyer Free Consultation

When you need legal help with emancipation, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/emancipation-law/

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Design Patent Law

Design Patent Law

There are three types of patents: design patents, utility patents, and plant patents. Utility patents are available for processes, chemicals, and machines. Plant patents are for the invention and asexual reproduction (reproduced by means other than from seeds) of a new and distinct plant. Finally, a design patent protects the design or unique appearance of a manufactured object. This article will focus on design patents, and more specifically, the elements of a design patent application.


It’s important to first understand what a design patent protects. A design is the “surface ornamentation” of an object, which can’t be separated from that object. The design can also be related to shape or configuration of an object. A design patent is available to those who invent a new and non-obvious ornamental design for an object. It’s important to understand that while the object and its design are inseparable, the design patent only protects the appearance of the object. Its functional or structural features will not be protected by a design patent.

In order to receive patent protection, an inventor is required to file an application with the United States Patent and Trademark Office (USPTO). A person can file a provisional patent application in order to protect his or her invention while figuring out the specifics of the invention and thinking about whether or not to actually patent the invention. A non-provisional application starts the official examination process to determine if the particular invention is eligible for patent protection. Generally, a non-provisional patent application includes the description and claims of the invention, drawings (if necessary), a declaration or oath, and various fees.

The information you will need to provide for a patent application will vary according to what type of patent you are seeking. When you are seeking to obtain a design patent, you will need to include the following: (1) A preamble that states the applicant’s name, a title for the design, and a brief description of the intended use and nature of the object that the design is a part of; (2) A cross-reference to any other applications related to the design patent application; (3) A feature description as well a description of the figure(s) of the drawing; (4) Photographs or drawings of the design; and (5) A declaration or oath by the inventor.
You are only permitted to make a single claim within a design patent application, and you must make a statement regarding any federally sponsored research or development for the design. In addition to the application, you will also need to pay a filing, search, and examination fee to the USPTO.

The most important aspect of a design patent application is the drawing (or photograph) of the design that the person is seeking patent protection for. Thus, it’s imperative that all drawings (or photographs) included with the application are of the highest quality and conform to all the rules and standards required by the USPTO.

IP Lawyer Free Consultation

If you are here, you probably have an IP issue you need help with. If you do, please call Ascent Law for your free law consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/design-patent-law/

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Property Manager Law

Property Manager Law

There
are various rules when it comes to evicting a tenant. These rules vary from
state to state, and even from city to city within a state. There are some
general issues, however, that landlords and property managers should be aware
of when evicting a tenant, including:

  1. Eviction notices for cause;
  2. Eviction notice without cause;
  3. Defenses available to tenants;
  4. How to remove a tenant; and
  5. Reasons for the strict eviction rules.

These
are important topics for landlords and property managers to be aware of when
deciding to evict a tenant, as they will affect the eviction process. And,
while it’s best to research the specific laws in your jurisdiction, having a
general understanding of the rules for evicting a tenant can help you better
understand the laws in your state.

Eviction Notice for Cause

An
eviction notice for cause may come in a variety of forms, but they all stem
from a tenant doing something wrong or against the terms of the lease. In
general, there are three types of eviction notice for cause.

First,
pay rent or quit notices generally are sent when a tenant is delinquent in
paying rent. These notices normally give a tenant a short period of time, set
by state law, in which to pay rent or else be subjected to a lawsuit for
eviction.

Second,
cure or quit notices are generally mailed out when a tenant does something
wrong or violates a term of the lease agreement. Like a pay rent or quit
notice, these notices generally provide a tenant a short amount of time in
which to cure the defect or else face eviction.

Lastly,
unconditional quit notices are very hard on the tenant. These eviction notices
can generally only be used when a tenant has a pattern of paying late rent,
refusal to pay rent, seriously damaged the rental property, or engaged in
dangerous or illegal activity on the property.

Which
notice is the proper eviction notice for a landlord to send to a tenant when
evicting a tenant depends upon the laws of the states. In states where the laws
favor landlords, sometimes unconditional quit notices could be sent in
situations where a pay rent or quit notice would be sent in another state.

Eviction Notice Without Cause

Unlike
an eviction notice for cause, an eviction notice without cause means that the
landlord does not have to have any reason to want a tenant out. Because of
this, many states require landlords to give either 30 or 60 day notice to the
tenant before being allowed to begin an eviction suit. However, some states
that have rent controlled apartments require landlords to give a legally
justifiable reason for wanting to end the lease agreement and do not permit
landlords to end leases without some cause.

Defenses Available to a Tenant

Tenants
facing evictions often become very tenacious in defending their right to stay
in the property. Tenants have a multitude of defenses available to them, any
one of which may derail your entire cause to evict the tenant. First, tenants
often argue that the eviction notice was improper because it either did not
contain the necessary information required by law, was served (delivered)
improperly, or both. Also, tenants often attempt to show a landlord’s
wrongdoings in order to take the focus away from themselves and gain sympathy from a judge.

Removing the Tenant

If you
have won your unlawful detainer suit against your tenant, you may think it will
be as easy as going to the property and picking up everything the tenant owns
and putting it on the sidewalk — but it isn’t. If the tenant still refuses to
leave voluntarily after losing an unlawful detainer lawsuit, you must take the
court order to the local sheriff and pay a fee for the sheriff to carry out the
court order. The sheriff will then ensure that the tenant leaves the premises.

Sometimes
tenants leave behind various personal items of property inside of a rental unit
after being evicted. Some states do not allow landlords to do anything with
this property but attempt to contact the prior tenant to get it back to them.
Other states allow landlords free reign over this abandoned personal property.
You should learn the laws of your state before attempting to handle left-behind
personal property.

Why Are the Rules So Strict?

To put
it simply, the rules that landlords must follow while evicting a tenant are so
strict because of the nature of the case. First, unlawful detainer suits are
much faster than almost any other type of civil litigation, often resolving a
matter in a month or two, or even faster. The compromise for this speed is that
the landlord must be absolutely sure that every “i” is dotted and
every “t” crossed.

Lastly,
in most situations, an unlawful detainer suit is worth more to a tenant than it
is to a landlord. On the one hand, a landlord may be losing money each month
because of a tenant, but on the other hand, if a tenant loses the case, he or
she won’t have a home anymore. Due to the sensitive nature of these cases,
lawmakers have made landlords work extra hard in order to properly evict a
tenant.

Property Manager Lawyer Free Consultation

When you need legal help with property management, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

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Foreign Adoptions

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Conceal Carry Law

Source: https://www.ascentlawfirm.com/property-manager-law/

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Conceal Carry Law

Conceal Carry Law

Did you know that when it comes to gun law in Utah, that the age that a person can conceal weapons in Utah was lowered from 21 to 18. Now, just because it is legal doesn’t mean you should. Additionally, you still need a permit for concealed carry of a firearm in Utah. If you don’t have the permit, don’t do it. Some question if these new privileges make young adults safer or if it endangers others. Some fear that young adults with a lack of impulse control could cause wrongful death through irresponsible shooting. Some 18-year-olds explained that they were unable to conceal a gun on campus to protect their selves against assault or rape. Since cases like these have occurred on many campuses in the Salt Lake City area, supporters of the new law agree that it is necessary to give them the privilege to conceal.

Possession Laws of Firearms

Many young adults submitted the argument that they are old enough to buy a weapon, serve in the military and vote so why should they be denied the freedom to conceal carry? Under the new law, an attorney cannot defend young adults who conceal carry unless they have received a concealed weapons permit. If young adults need to use a concealed weapon to prevent personal injury or death, the new law allows a lawyer to defend them if they are certified. Many of those who opposed them for reasons of having less impulse control might also apply those same arguments to gun ownership of young adults ages 18 to 20. Others ask, since young adults already have so much freedom to carry a weapon why do they need the ability to conceal?

Is this a problem?

If young adults are able to obtain a concealed carry license, there is a predicament whether their ability to conceal would create more violence. On the other hand, many believe that since young adults already had the ability to carry guns, they potential to cause wrongful death hasn’t increased. Many wonder if allowing students to conceal carry on campus would increase the possibility of school shootings. If it is true that students 18 to 20 have less impulse control than many wonder if an attorney should be able to defend them for concealing a gun into classrooms and assemblies.

Gun Training For Concealed Carry

Young adults who conceal carry are trained in the proper use of a firearm. Many of these courses have a lawyer or a certified instructor explain the lawful use of a firearm. Young adults will also receive training on using restraint and the proper use of a firearm. Those who conceal carry go through background checks and obtain a legal license. Young adults with concealed weapons may make them less likely to cause wrongful death than their peers who choose to open carry without training.

Education and Liability for Teenage Drivers

Generally speaking, teenage drivers first take to the road with an instructor in a driver’s education vehicle. Most of these drivers are also uninsured and unlicensed. Establishing liability in auto collisions with a student driver can be complicated, to say the least. Depending on the situation, there are three main ways to receive compensation in the case of an accident. Insurance claims and personal injury lawsuits can be filed against the driver, the instructor or the driving school.
Filing a claim against a student driver is the best option if an accident was caused by carelessness on the part of the driver. In Utah and elsewhere, as far as automotive mishaps with student drivers are concerned, this is the most common form of auto accidents. Filing a claim against the instructor occurs when the accident was perpetuated by the instructor’s negligence. Teachers are trained to handle emergency situations and lack of action can unjustly cause accidents. A claim against the school would usually include an accident caused by defective vehicles or the formal hiring of an untrained instructor. This is the least common kind of lawsuit.

Free Consultation with Gun Lawyer

Whether you need legal help with a car accident or with conceal carry law in Utah, when you need help, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/conceal-carry-law/

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Foreign Adoptions

Foreign Adoptions

The U.S. has special procedures for the adoption of orphans. A child is considered an orphan if they have neither parent due to their death, disappearance, or abandonment. A child may also be considered an orphan where their sole parent is incapable of providing care for the child and has, in writing, irrevocably released the child for emigration and adoption. U.S. Immigration law requires that an orphan petition be filed before the child’s 16th birthday or before their 18th birthday if they have a natural sibling adopted by the same parents.

State Department and Foreign Adoption

Although the U.S. State Department can be a valuable resource; there are limits to the help they can or will provide. The State Department will provide information about U.S. Visa requirements and international adoption policies and procedures. They can make inquiries to U.S. consular offices regarding the status of cases or to clarify documentation requirements and ensure that U.S. citizens are not discriminated against. The State Department will not involve itself directly in a foreign adoption process, represent adoptive parents, order an adoption, or order a visa to be issued.

Citizenship for Foreign-Born Children

Many adopted children born abroad acquire U.S. citizenship upon entry into the United States on account of the Child Citizenship Act of 2000. At least one of the adopting parents must be a U.S. citizen, have custody of the child, and reside in the U.S. The child must be younger than 18. No certificate of naturalization is issued in this process, though the parents may request one through a separate application.

International adoption can offer a less expensive and often quicker option for adoptive parents, as opposed to a traditional adoption, but it can also raise a number of additional issues and concerns. For example, many of the countries offering children for adoption by prospective U.S. parents are not subject to the same standards or regulations. Prospective parents also may not get all of the relevant information about their adoptive child prior to the adoption, or may experience language or cultural barriers. Below you will find information on international adoption, including tips on the application process and related costs. You will also find links to overseas adoption resources from the federal government and other organizations.

Foreign Adoption Requirements

When planning an international adoption it is important to consider what legal obligations need to be fulfilled. International laws apply in an international adoption. Countries have different rules regarding the adoption of children depending on whether or not they have signed the Hague Convention. Countries that are party to the Hague Convention must follow certain procedures, while non-party countries may have their own.
Applicants will need to fulfill the requirements of the country where the child will be adopted, the immigration laws of the U.S. Citizenship and Immigration Service, and the adoption laws of your state of residence. Although procedures and required documents may be very similar, government interests in protecting children mean that requirements are often quite strict and failure to comply may seriously damage the ability to complete an adoption.

Adoption Lawyer Free Consultation

When you need legal help with an adoption, please call Ascent Law at (801) 676-5506. We will help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/foreign-adoptions/

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Fair Labor Standards Act

Fair Labor Standards Act

The Fair Labor Standards Act (FLSA) regulates
wages and hours in the workplace. It establishes a minimum wage and regulates
overtime pay, record-keeping, and youth employment. The FLSA applies to
employment in the private sector and to employment in federal, state, and local
governments. Under the act, a workweek is 40 hours and federal minimum wage is
$7.25 per hour (July 24, 2009). The FLSA does not require an employer to offer
vacation time, sick leave, or pay raises. Local and state wage and hour laws may
also apply.

What employers
are covered under the Fair Labor Standards Act?

The FLSA’s wage and hour laws apply to
employers that earn $500,000 in annual gross sales and to employers that engage
in interstate commerce or produce goods for interstate commerce. Interstate
commerce includes sending mail through the U.S. Postal Service, the use of
telephones or computers for interstate communication, or the shipping,
handling, or receipt of goods through interstate commerce. Because of its broad
coverage, the FLSA applies to virtually all employers. The act, however, does
exempt small farms that meet certain requirements.

Can an
employer pay an employee that earns tips less than minimum wage?

The FLSA allows an employer to pay an
employee that receives some wages from tips less than minimum wage if:

  • The employee receives at least $30 a month in tips;
  • The employer pays the employee at least $2.13 an hour in direct wages;
  • The employer informs the employee of the arrangement in advance; and
  • The combination of the employee’s tips and direct wages equal at least the hourly minimum wage (if it does not, the employer must pay the employee the difference).

According to some states’ laws, employers
must pay tipped employees at least minimum wage or must pay a higher minimum
wage for tipped employees than required by federal law.

What workers
are exempt from minimum wage requirements and overtime pay under the FLSA?

The FLSA requires that employers pay
employees at least minimum wage and overtime pay equal to one-half of the
employee’s regular pay rate for hours that exceed a 40-hour workweek. However,
FLSA regulations of minimum wage and overtime pay does not apply to exempt
workers, including executives, administrative employees, professionals,
computer specialists, and outside sales people.

Executive
Exemption

The executive exemption applies if the
worker:

  • Has a primary job duty of managing a business or a department
  • Directs the work of two or more full-time employees
  • Has the authority to hire, fire, or promote workers
  • Receives a salary of at least $455 per week

This executive exemption also applies to an
employee that engages in the management of a business and has at least a 20%
equity interest in the business.

Administrative
Exemption

The administrative exemption applies if the
worker:

  • Has the primary duty of performing office or
    nonmanual work related to the management or administration of a business
  • Has the primary duty of exercising discretion and
    independent judgment about significant matters
  • Receives a salary of at least $455 per week

Professional
Exemption

The professional exemption applies if the
worker:

  • Performs work that requires advanced knowledge, such
    as work that is predominately intellectual and requires the use of discretion
    and judgment
  • Has advanced knowledge in the field of learning or
    science, including the fields of law, medicine, theology, accounting,
    actuarial computation, engineering, architecture, teaching, and various
    types of physical, chemical, and biological sciences, and pharmacy
  • Has acquired advanced knowledge through a prolonged
    course of specialized intellectual instruction
  • Receives a salary of at least $455 per week

Computer-Related
Occupation Exemption

The computer specialist exemption applies if
the worker:

  • Is employed as a computer systems analysts, computer
    programmer, software engineer, or a similarly skilled worker in the
    computer field
  • Has the primary duty to:
    • Use system analysis techniques and procedures,
      which includes consultation with users to determine hardware, software,
      or system functional specifications;
    • Design, develop, document, analyze, create, test,
      or modify computer systems or programs, including prototypes, based on
      and relate to user or system design specifications;
    • Design, document, test, create, or modify computer
      programs related to machine operating systems; or
    • A combination of the duties.
  • Receives a salary of at least $455 per week or at
    least $27.63 an hour

Outside Sales
Exemption

The exemption applies if the worker:

  • Has the primary duty of making sales or obtaining
    orders or contracts for the use of services or facilities
  • Regularly works away from the employer’s place of
    business

Other exempt workers include those employed
by a seasonal or recreational business, causal babysitters, and newspaper
delivery workers.

Can employers
give time off instead of paying overtime?

Federal law prohibits private employers from
giving employees “comp” time (an hour of time off for every hour worked)
for hours that exceed a 40-hour workweek. Instead, an employer may arrange an
employee’s workweek so that the time worked does not exceed 40 hours. This
means that an employee could work four ten-hour days for a total accumulation
of 40 hours for the week. This arrangement does not require an employer to pay
overtime.

FLSA Lawyer Free Consultation

If you need legal help with the FLSA, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/fair-labor-standards-act/

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Is Alimony Tax Deductible?

Is Alimony Tax Deductible

Not all alimony payments automatically qualify as being tax deductible. There are seven different requirements that the IRS has for taxpayers who want to deduct payments they make for alimony. Payments should be in cash or check. You cannot give assets that equal the value of your payment if you want them to be tax deductible. You must make payments with cash or check.

Next, Do not list alimony as child support or part of a settlement. Child support payments are never tax deductible, so listing your alimony payments as part of child support could cost you big-time on deductions. The same goes for marital property division. Designate payments as tax-deductible on your documents. All of your payments should be made according to the terms of your divorce documents. All you need to do is make sure that your documents state the exact amount you need to pay and describe it as spousal support, spousal maintenance or alimony. You should also make sure your documents label these payments as tax deductible by the payer.

Live apart from your ex. So long as you are still living with your ex, you cannot earn tax deductions for your alimony payments. Clarify that your payments end upon the recipient’s death. In most cases, you also have the right to cease payments upon the remarriage of the recipient. Don’t file your tax return jointly. This precludes you from deducting alimony payments on your return. Don’t pay extra. There are certain rules that the IRS has against front-loading your alimony, particularly within the first three years after separation. Excessive payments are subject to tax or recapture.

When Your Spouse Won’t Participate in Divorce

While you cannot force your spouse to show up for meetings pertaining to your divorce, you can use some legal strategies to strongly encourage the person’s attendance.

In a typical divorce, there will be plenty of paperwork, meetings and court appearances to work through. These meetings regularly occur until the divorce has concluded. For example, both spouses must attend depositions, mediation, temporary custody hearings, temporary support hearings, settlement conferences and, in some cases, a trial.

It can be incredibly frustrating to have your case delayed simply because your spouse refuses to participate. However, there are some divorce matters that simply cannot wait for a spouse to decide to show up. Custody and support hearings, for example, will not be canceled — even if one individual is not there. The only time these hearings might be rescheduled would be due to accidents or significant illnesses. If there are routine problems with your spouse failing to show up to your meetings, it’s possible you will get a favorable result right away at your custody hearing.

While you are under no obligation to remind your spouse of your divorce meetings, the courts will look on you favorably if you do so, at it shows you went the extra mile to ensure the process went as smoothly as possible. It also then reflects more poorly on your spouse, to miss the meetings even after getting reminders.

Free Consultation with Divorce Lawyer

When you need legal help with alimony or a divorce, please call Ascent Law at (801) 676-5506. We will help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/is-alimony-tax-deductible/

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Attorney for Wills

Attorney for Wills

If you die without a will, it means you have died “intestate.” When this happens, the intestacy laws of the state where you reside will determine how your property is distributed upon your death. This includes any bank accounts, securities, real estate, and other assets you own at the time of death. Real estate owned in a different state than where you resided will be handled under the intestacy laws of the state where the property is located.

The laws of intestate succession vary greatly depending on whether you were single or married, or had children. In most cases, your property is distributed in split shares to your “heirs,” which could include your surviving spouse, siblings, aunts and uncles, nieces, nephews, and distant relatives. Generally, when no relatives can be found, the entire estate goes to the state.

No Will – Single With No Children

If you are single and childless, your parents will receive your entire estate if they are both living. Otherwise it will be divided among your siblings (including half-siblings) and your surviving parent, if one parent has already died.
If you have no surviving parents at the time of your death, then your entire estate will be divided among siblings, in equal parts.
If there are no surviving parents, siblings, or descendant’s of siblings (nieces and nephews), then the relatives on your mother’s side would inherit one-half of the estate, with the other one-half passing to the relatives on your father’s side.

Dying With No Will – Single With Children

If you are single and have children, then your entire estate generally will go to your children, in equal shares. If any child has died before you, and that child has any children, then his or her share will go to your grandchildren.

Married With No Children and No Will

Depending on how your assets are owned when you die, your estate will either go entirely to your surviving spouse (if community property), or split between your surviving spouse, siblings and parents (if separate property).

No Will and Married With Children

If you are married with children, your entire estate will go to your surviving spouse (if all children are the children of your surviving spouse). Otherwise, your surviving spouse will receive up to one-half of the estate, with the remaining portion passing to your surviving children from another spouse or partner.

Passing Away With No Will for Unmarried Couples

Dying without a will can be devastating to unmarried couples who are living together. Because intestacy laws only recognize relatives, unmarried couples do not inherit the property of the other partner when one partner dies without a will. Unless there is a will which clearly states a person’s intentions when they die, the decedent’s property will be divided among relatives, depending on their relation to the decedent.

Domestic Partners With No Will

Special rules apply to domestic partners. Since not all states recognize domestic partnerships, it is important to check the laws of your particular state to learn how property is distributed upon your death. Generally, if you die without a will and are survived by a domestic partner, your domestic partner inherits the same as a surviving spouse, depending on how you owned the property.

Free Consultation with a Utah Estate Lawyer

When you need legal help with a will, probate or estate, please call Ascent Law for your free estate law consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/attorney-for-wills/

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Selling Real Estate

Selling Real Estate

Although many people think that they need a real estate agent in order to sell their home, there is actually no requirement or law that mandates that you hire on to help you sell your home. However, there are some states that require you to have a real estate agent in order to handle the paperwork that is associated with the closing of the home sale. If you do not know the laws that apply in your state, you should check with your state department to see if you need the help of a real estate agent to close your home sale.

If you decide to sell your home by yourself, you will be engaging in a process known as “For Sale By Owner.” This can be a great way for you to get the full sale price of your home without having to pay commission fees, but along the way you will probably develop a better understanding of why real estate agents charge the commissions they do. You should be prepared for putting in more time, energy and effort that you think you reasonably should.

However, before you put up your For Sale By Owner sign, consider checking out the market in your area. If it is a buyer’s market, you will probably have a hard time unloading your home by yourself. This is because you will be up against real estate agents whose sole job is to sell homes, whereas you will have to balance your life and work against putting in time to sell your home. The best time to sell your home by yourself is when there is a seller’s market.

In order to properly sell your home by yourself, you will need to learn about the laws of your state that govern real estate transfers. These laws will indicate what kinds of paperwork you will need to prepare as well as who will need to sign what. In addition, you will need to find out what to do if you find that there are any encumbrances that are on your home and how to handle them. Lastly, some states have mandatory disclosure laws that you will need to follow where you will need to disclose certain physical characteristics of your home.

If you are serious about listing your home by yourself, consider posting your listing online. There are a number of websites around that are dedicated to helping you sell your home on your own.
One of the best things that you can do to get your home sale off the ground is to get your home listed on the Multiple Listing Service (MLS). This is a nationwide service that lists homes for sale that are searchable by area, even neighborhood. There are a number of ways that you can get your home listed on the MLS, such as: (1) Hiring a real estate agent to list your home; (2) Listing your home for free by using websites like Homie.com and Zillow; (3) Using certain low-fee services provided by websites devoted to For Sale By Owner.

Although you may not need a real estate agent, there may be times when you can use a real estate agent to help you. Many real estate agents are willing to help those who are planning on listing their home as For Sale By Owner with many tasks including: (a) Helping you determine the home market; (b) Determining an appropriate asking price; (c) Listing your home on MLS, or (d) Assisting in some of the more complex paperwork and transactions.
If you can find a real estate agent that is willing to help you with some of the smaller tasks associated with your home sale, you may be able to work out a compensation plan for the agent that is more to your liking. For example, you could negotiate a smaller commission, or even agree to pay the agent an hourly fee for each hour that he or she works on your home.

If you come to the conclusion that listing your home as For Sale By Owner is not your cup of tea, you can always go ahead and hire a real estate agent to sell your home for you. Although he or she will probably take a larger cut that you may like, it may save you time and effort in the long run. Agents are experts in listing your home in the right places and setting up your home to be shown to prospective buyers. However, if you are in no rush to sell your home, you can always take a shot at selling by yourself first before you hire a real estate agent.

There are pros and cons for either option. Benefits of selling your home by yourself include, for example, being able to recoup more of the sale from your home because you will not have any commissions to pay. The drawback is that selling a home on your own makes you responsible for knowing and following all of the steps and requirements involved in selling a property.
This article outlines the basics of what a seller needs to do to prepare a home for sale, with an emphasis on whether you need a real estate agent. Review the topics below to help you decide whether or not you need a real estate agent.

Real Estate Lawyer Free Consultation

When you need legal help with a house or piece of real estate in Utah, please call Ascent Law for your free consultation (801) 676-5506. We want to help you.

Michael R. Anderson, JD

Ascent Law LLC
8833 S. Redwood Road, Suite C
West Jordan, Utah
84088 United States
Telephone: (801) 676-5506

Source: https://www.ascentlawfirm.com/selling-real-estate/