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By Guest Blogger Mary Drury, Esq.

In these challenging economic times, most companies are struggling to stay in business, and while a layoff is never desirable, sometimes the company deems it critical to cut labor costs.  Here's the rub:  Certain employers cannot lay off employees without giving advance notice or paying them for a period of time.
 
In 1989, the government enacted WARN - the Worker Adjustment and Retraining Notification Act.  WARN protects workers by requiring employers to provide sixty days advance notice of certain mass layoffs. In general, employers are subject to WARN if they have a 100 or more employees, not counting employees who have worked less than six months in the last twelve months, and not counting employees who work an average of less than twenty hours a week. 

By Jay Young, Esq.

A Homestead Declaration is a simple document that can protect your home’s equity from attack by creditors. It prevents a forced sale of your home to satisfy your debts to most creditors (unpaid medical bills, bankruptcy, charge card debts, business/personal loans, accidents). Nevada Revised Statutes, Chapter 115 governs the declaration of a homestead. It declares that a homestead is limited to your primary residence. It protects your land with a dwelling on it (including a mobile home or condominium) where you reside. It does not protect any investment or rental property that you own. You are protected up to $550,000 in equity in your primary residence in Nevada.

By: Guest Blogger Mary Drury, Esq.

While you may be tempted to cash any check received these days, with a memo noted "paid in full", the cashing of that check may modify your earlier agreement and extinguish your contract.

By:  Guest Blogger Mary Drury, Esq.

Almost everyone knows me as a real estate and business lawyer, but I frequently get asked about asset protection; specifically about keeping certain types of personal property.  About three times a week, the questioning commences with discussions about ATVs, boats, motorcycles and snowmobiles. 

A defense attorney was cross-examining a police officer during a felony trial. It went like this . . .

Q.              Officer, did you see my client fleeing the scene?

A.              No sir, but I subsequently observed a person matching the description of the offender running several blocks away.

KNPR, the Las Vegas National Public Radio Affilate, issued its first ever list of Las Vegas' "Top Lawyers" in its October 2012 issue of Desert Companion.  Jay Young was recognized as Top Lawyer in Las Vegas for Commercial Litigation (business disputes).  "I am honored that KNPR and its editorial staff would mention me as a Las Vegas Top Lawyer.  I am a proud listener and supporter of KNPR and its programming.  This recognition means even more coming from such a wonderful organization as KNPR," Young said. Desert Companion is an award-winning magazine published by the KNPR staff with a purpose of celebrating the passions and aspirations of Southern Nevadans.

With challenges to the economy, companies are looking for every way possible to save money. A potential risk for employers is to mischaracterize an employee as an independent contractor, which may save payroll taxes in the short term but may lead to penalties on such taxes as well as other inadvertent violations of worker's compensation laws, FMLA, etc, which each hold separate penalties for violation.  

There are also state law implications, which vary by state so you may want to consult an attorney in your particular state as to that state's definitions. Focusing purely on federal issues, the IRS previously had a 20-part test to evaluate whether a worker is an employee or independent contractor.

When people are attacked, the natural reaction is to attack back. While competent trial attorneys are well equipped to attack the other side for you, a wise attorney will also step back from his role as an adversary and counsel you regarding your settlement options. In doing so, he is not necessarily telling you he doesn’t believe your side of the story. Rather, he is trying to get you, the astute businessperson, to make a smart business decision which considers only your bottom line, and not the emotion of the lawsuit or who is right and wrong.

By: Guest Blogger Mary Drury, Esq.

There are state and local licensing requirements to do business in Nevada.

Effective October 1, 2009, the Nevada Legislature transferred the authority for issuance and collection of fees for a Nevada Business License from the Department of Taxation to the Secretary of State.  This step prevented the renewal of company charters by the filing of the "annual list" (whether an LLC, corporation, partnership, etc.) without paying the state business license.

By: Guest Blogger This email address is being protected from spambots. You need JavaScript enabled to view it., CFA, AVA

Gryphon Valuation Consultants, Inc.

Buy/Sell Agreements provide a blueprint for the transfer of business interests, allowing business owners to control and protect their investment and the integrity of the ownership structure. 

These agreements address certain “triggering events” such as the death, divorce or departure of business owners and should be a part of every business planning process.  A well-constructed Buy/Sell Agreement serves five crucial functions:


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