Good Tips and Tricks To Know About
Last Updated on Sunday, 27 August 2023 03:19 Written by Chris Griswold Monday, 12 May 2014 03:11
This month I want to hit on a couple of good tips for everyone’s general use. This is good stuff for everybody to know so read on further below… (and don’t forget to click on my Facebook or YouTube links below to also see my short video on this material).
Good Tips and Tricks To Know About….
Naming entities: When you form a corporation or an LLC, usually, you have to first inquire with your State’s Secretary of State as to whether your proposed entity’s name is free and available. If it looks available, then you’ll apply and go through all the paperwork – sometimes just to find out that the name is already taken (or, more often, too close to some other previously approved entity’s name to be permitted). This takes a lot of time and productivity away from your business. Instead, think about simply naming the entity with the name of the asset at issue. For example, if you’re creating an LLC to hold title to real property, then name the LLC the name of the physical address of the property (e.g., 123 Easy Street, LLC). This way, you’re a lot more likely to come away with an approved entity name the first time – as opposed to a lot of back and forth….
Notarizing documents: The reason why things have to be notarized (also called acknowledged) is so that they can be recorded with either the Court and/or County Clerks in the official court and/or land records of a certain County. The reason why things have to be notarized (or acknowledged) in the special nature of what’s called a “jurat” (i.e., where the notary testifies that the documents were signed by someone in the presence of both the notary and other witnesses – and that the person signing them was at least 18 years of age and of sound mind at the time of signing the documents) is so that, in addition to being able to record the documents in the official land and/or court records, they can also be admitted into evidence in a court proceeding (e.g., a probate proceeding).
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