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Friday, March 31, 2017

Recently engaged? 5 reasons why you should consider a prenup



Recently Engaged? 5 Reasons Why You Should Consider a Prenup



prenupAs most of my friends are getting married or are recently married (myself included), I frequently get asked why anyone would want a prenuptial agreement. Prenups can get a bad reputation because many people assume signing a prenup means you are preparing for divorce in the future. However, this is NOT necessarily the case! There are many reasons (other than divorce) that future spouses may want to sign a prenup before getting married.


Here are my top 5 reasons for signing a prenup.


  • A prenup promotes communication between future spouses so they are fully aware of the other’s financial situation and other issues prior to marriage. In North Carolina and South Carolina, each party must voluntarily provide a full and fair financial disclosure about his or her property and financial obligations (unless waived in writing).
  • A prenup can establish how property matters will be handled in the future. If you are a person who has substantial individual or family assets, a prenuptial agreement may be a great way to specify how debt and other financial issues will be handled during the marriage.
  • A prenup can determine the rights and obligations of each party with regard to the right to buy, sell, use, transfer, exchange, abandon, lease, or otherwise dispose of, control, or manage certain property. In North Carolina and South Carolina, property obtained during the marriage is generally treated as marital or joint property, but a prenup can change the general rule for property acquired during the marriage.
  • A prenup can protect a person that has a professional practice or other service business. For all the entrepreneurs out there, this is a great way to protect your hard work, while still being able to provide for your new family.
  • A prenup can be viewed as a proactive dispute resolution system, as it can simplify the divorce process. A prenup may reduce the chance of litigation upon divorce and, in addition, reduce those litigation costs. This may be beneficial for a party that is entering into a second marriage or those who have children from previous relationships.


Contact us today to get started on your prenuptial agreement.


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Wednesday, March 22, 2017

Arbitration Fees - How Much do Arbitrators Cost?

Business law Attorney Jason McGrath shares some information about how much you should expect to pay in fees to an Arbitrator in this short video.

https://youtu.be/_mJseLaXzM0

Here are some of the key points contained in this informational video:


  • Arbitrators typically charge fees similar to what lawyers charge.

  • Does the Arbitrator require a minimum amount when the arbitration is scheduled? This may be called a cancellation fee or a retainer fee. The arbitrator may require this to offset a loss if the arbitration cancels.

  • Arbitrators can sometimes be bargained with to lower fees but normally these are set fees.

  •  Arbitration fees (which are mostly made up of the Arbitrator’s fees) are often split evenly between the parties, but this can be altered by contract, law, or court order.



You should get advice from an attorney to assist in handling litigation issues like arbitration.

This is part of a continuing series of video blogs on contract law and arbitration - you can find the first part of this series on our blog or on our YouTube Channel.

If you need legal services in North Carolina, South Carolina, Georgia, Florida, Ohio, or Tennessee we invite you to fill out our confidential client form for possible legal assistance.

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Tuesday, March 14, 2017

Substitute Trustee Services Inc. - Foreclosure Hearing Result

Substitute

The following is a summary of a foreclosure hearing  that McGrath & Spielberger assisted a borrower with, and is provided for informational purposes only. Each case, each client, each situation is different, and each matter may have a different outcome.

Mortgage Loan Servicer / Foreclosing Bank: RoundPoint Mortgage Servicing Corporation

Prosecuting Trustee / Law Firm: Substitute Trustee Services, Inc. and Hutchens Law Firm

Property Location: Charlotte, Mecklenburg County, North Carolina

Property Type: Primary residence

Borrower’s Attorney: Jason A. McGrath, Esq.

Hearing Date: December 2016

Actions Taken by McGrath & Spielberger on Behalf of Client in Relation to the Foreclosure Hearing: Mr. McGrath attended the foreclosure hearing with the client and argued a Motion to Continue to the court in order to help client avoid foreclosure.

Foreclosure Hearing Outcome: Mr. McGrath successfully moved to continue the hearing; foreclosure avoided.

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Monday, March 6, 2017

Foreclosure Hearing Result - Embrace Home Loans

embrace

The following is a summary of a foreclosure hearing  that McGrath & Spielberger assisted a borrower with, and is provided for informational purposes only. Each case, each client, each situation is different, and each matter may have a different outcome.

Mortgage Loan Servicer / Foreclosing Bank: Embrace Home Loans, Inc. c/o RoundPoint Mortgage Servicing Corporation

Prosecuting Trustee / Law Firm: Substitute Trustee Services, Inc. and Hutchens Law Firm

Property Location: McDowell County, North Carolina

Property Type: Primary residence

Borrower’s Attorney: Jason A. McGrath, Esq.

Hearing Date: December 2016

Actions Taken by McGrath & Spielberger on Behalf of Client in Relation to the Foreclosure Hearing: Mr. McGrath attended the foreclosure hearing with the client and argued a Motion to Continue to the court in order to help client avoid foreclosure.

Foreclosure Hearing Outcome: Mr. McGrath successfully moved to continue the hearing; foreclosure avoided.

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Wednesday, March 1, 2017

Newsletter: February Edition

February



Necessary Knowledge: February Edition



McGrath & Spielberger, PLLC publishes a newsletter periodically where we share relevant blog posts and firm news. Our latest newsletter was published recently at no cost to subscribers. The February newsletter was all about our business clients and featured helpful articles by our partners Jason McGrath and James Spielberger.

Moving Your LLC To Another State is part five of a continuing series of articles by Attorney James Spielberger to assist you with your LLC needs. This series of blog posts is all about your New LLC and some tips for managing it's legal needs.

Arbitration Provisions in Business Contracts is part of a continuing educational series of video blogs by Attorney Jason McGrath.  You can find more video blogs on Contract Law and Arbitration on our website.

You can become a subscriber before our next newsletter publishes - it's free!



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