Why do I need an estate plan? Just about everyone needs a basic estate plan. The benefits of drafting a basic estate plan include naming people you trust to carry out important roles (Executor, Guardian, Trustee), deciding who you would like to receive your assets, avoiding/limiting...
Everyone should have minimum basic estate docs in a secure and accessible location in event of their disability or death. These legal documents will help your estate administrator/friends/family have the necessary docs and information to carry out your wishes upon disability or death. If you...
Should you elect “Professional” status when you form an LLC or a Corporation? Electing “Professional” status when you form an LLC or corporation creates either a Professional Limited Liability Company (PLLC) or Professional Corporation (PC). PLLC’s and PC’s are reserved, and sometimes required, for businesses that...
Frequently Asked Questions - Registered Agent/Clerk and Annual Reports (Updated March 2023) Please note: this is general information about various types of Maine business organizations. Before taking any particular action based on this document, please discuss with your Opticliff Law attorney to ensure that the action...
Are you the proud owner of an LLC? Congratulations! But, be mindful that there is no such thing as a "set it and forget it" policy for you LLC. Think of your company as an adopted 18 year-old. When you first meet this person, it is...
The Office of the State Treasurer is requiring that any business operating for at least three years in the State of Maine, must report any unclaimed property (i.e. checks made to a deceased person, uncashed payroll checks, etc.). “The unclaimed property is a program managed...
With the onset of a new year comes the inevitable Annual Report process in states across the country. Compliance is required to keep your LLC or Corporation in good standing. Each state has their own process. Maine, for example, requires each company registered in Maine...
The latest referendum passed by Portland voters related to minimum wages and emergency wages has caused much confusion. [Updated 12/3/20] Here’s what we know: 1. The referendum’s language increases the City’s minimum wage in a tiered fashion starting 1/1/2022. 2. The referendum did not, however, specifically state on what...
I ran into a colleague the other day - we will call him Alonzo - and it was a beautiful early morning. We both found ourselves fortunate enough to be able to take a half hour and walk together, so we set off toward Portland’s...
Now is an excellent time to think about the areas in your business that need an overhaul or could use a minor refresh. Take a moment to step back and re-imagine the way you run your business holistically. While I agree that not every problem...