3 Reasons Why Naming Multiple Executors for Your Will is a Good Idea

Choosing an executor for your will is an important decision you have to make. The executor should be someone you trust and someone who has the right skills needed in executing your will in the future. But many people think that they should only name one executor.

However, there are actually some instances when naming multiple executors is a good idea. Here are some of the reasons why this might be a good option for you:

1. It distributes the load

Being a sole executor of an estate is hard. There are a lot of duties to fill and tasks to do. If the executor also has other duties such as a full-time job or he/she is someone who goes away on travels frequently, the person might not have enough time to perform the duties needed from an executor. With a co-executor, some of these roles and tasks can be filled.

2. Specialized tasks can be delegated

 

If you want to name a child as an executor to your assets and finances, for instance, but that child does not know everything about your assets, particularly when it comes to your business, you can name someone else to execute this part of the will. 
 

3. It encourages responsibility and honesty

There have been instances when the executor run away with the money from the estate or have used the money from the estate for personal use. With a co-executor, this can be avoided as they can hold each other accountable.

Aside from a trusted friend or relative, you can also choose to appoint an estate lawyer in Vancouver as an executor. What is great about an estate lawyer in Vancouver such as Lakes, Whyte LLP is that a lawyer already knows the ins and outs of estate law, which will make it easier to execute a will.

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3 Legal Things You Should First Do Before Officially Starting Your Business

The legalities of starting a business is often overlooked by small and budding business owners. But it is these legalities that often sink businesses later once they have grown into something bigger. This is why before officially starting your business, you should first iron out these common legal pitfalls: 

1. Make a contract for everything. 

Make a contract for your suppliers. Make a contract for your employees. Make a contract for all business transactions. For every small or major deals with other people, there should be a contract. You don’t want to just take their word for it, put it in writing so that if something goes wrong with the deal, the responsible party can be held liable.

2. Make a separate account for your business. 

You don’t want to mix your personal account with your business account. In case your business goes under, your personal banking account won’t be affected. This also makes it easier to keep track of your business’ expenses as well as the incoming money.

3. Get intellectual property right.

Apply for an intellectual property right for your products. If you have an innovative product that is the first of its kind, getting an intellectual property right or getting a trademark for it is important. You don’t want other people to steal the idea behind your product and make a profit from it. 

When it comes to business law, get the help of business lawyers in Vancouver. You would want to consult business lawyers in Vancouver such as Lakes, Whyte LLP first in order to safeguard your business from legal pitfalls. 

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Do You Always Have to Yield to Pedestrians?

The answer is no. While some people might think pedestrians always have the right of way, this isn’t true in all cases. Pedestrians also have a duty or a responsibility to ensure their safety. 

Traffic Light 

If there are roads governed by traffic lights, both the pedestrian and the motorist should follow the sign. If the lights indicate a stop, the motorist should stop and let pedestrians pass. If it indicates “go”, pedestrians must wait until it is safe to cross the road. 

Without Traffic Lights 

If there are no traffic lights to indicate who should pass, motorists should yield to pedestrians who are already in the path of the motorist. Slow down or come to a full stop. 

Generally, motorists have the right of way in an intersection, whether it is marked or unmarked. Pedestrians should also not leave the sidewalk and run straight into the pathway of an oncoming vehicle when it is considered a hazard.

If you are, however, a victim of a pedestrian accident where a vehicle struck you even when you have the right to cross, know that you have rights. It’s important to know how you can get compensated for your losses, so you can recover without worrying about your expenses. 

A personal injury law firm in Vancouver can help seek compensation. If you plan on filing a lawsuit, it’s also better to consult a personal injury law firm in Vancouver such as Lakes, Whyte LLP to find out what is the best thing you can do. 

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What to Consider Before Signing an Employment Contract

Congratulations on being offered an employment opportunity. But before you sign that contract, make sure you read it thoroughly and carefully first to make sure that you are not agreeing to terms that can be disadvantageous to you in the future. 

Watch out for red flags that can indicate potential problems in the future. Here are some of the things you should look for in the contract: 

1. Your job description

The contract should include what your job description is or what your role is in the company. This will prevent the company from letting you do tasks that are not within your area of expertise and not what you signed up for and use that against you.

2. Basic employment rights 

It should stipulate basic things such as how many hours of work you will render in a week, the minimum wage, how many vacation and sick days you are getting and what the rules are regarding severance. 

3. Learn more about employment equity and discrimination in the workplace.

The Employment Equity Act aims to protect women, the minorities, aboriginal people and disabled people from suffering from discrimination in the workplace. Find out what the company’s stand and policies are when it comes to these discrimination issues. 

If you think your company is treating you unfairly, don’t hesitate to get the help of an employment lawyer in Vancouver. If you have been terminated illegally or you have experienced discrimination in the workplace, a Vancouver employment lawyer from law firms like Lakes, Whyte LLP can help you out. 

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Planning for Incapacity – What You Can Do

It’s not pleasant to think about a future where you might be unable to do the things you wish to do when it comes to your assets and finances. But it’s a possibility, so it’s important to plan for it.

When it comes to planning for incapacity, there are two types of documents you can go for. They are Enduring Powers of Attorney and Representation Agreements. These documents essentially appoint someone else to make decisions on your finances, health care and personal needs on your behalf. 

The Ministry of Attorney General has previously published standard forms that the public can use to plan for incapacitation. People can opt to use these forms. But if you choose to make your own, it is important that the contents comply with the stipulations of the legislation. Additionally, the standard forms are called standard for a reason. They might not apply to all situations, so if you have special or unique needs, consulting a lawyer experienced in wills in Vancouver may be the best course of action. 

Another option when it comes to incapacity planning is to make advance directives. This is a written instruction or a document that details made by the testator of wills in Vancouver providing consent to another adult when it comes to making decisions on health care. 

The best thing to do if you are planning for incapacity is to assess your future needs. Talk to a lawyer from Lakes, Whyte LLP, so you can effectively plan for incapacitation and make sure you have all grounds covered.

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3 Things You Can Do to Beat the One-Year Failure Mark

They said more than 50% of businesses fail even before they reach their first anniversary. Only 25% of those who make it to their first anniversary make it up to their 15^th year. This can be due to a lot of factors such as lack of planning, not doing a comprehensive market research, not choosing the right location and not keeping up with the trends.

 

If you want to beat the one-year failure mark that usually plagues businesses, here are the things you can do:

1. Consult lawyers in Vancouver

There are many things business lawyers in Vancouver BC such as Lakes, Whyte LLP can help you with. They can help you organize your business model, to make taxation easier later. They can also help you out with contracts and many other legalities. By protecting your business from these legal disputes, you can prolong your business operations.

2. Know your target market

Don’t wade into any business without understanding who your target market is and what you can do to reach them. Just knowing your target market helps you determine what marketing strategies you can employ. Of course, you need people to patronize your business.

3. Hone your marketing and customer service skills

Once you have everything in place, the next thing to do is to market your products and services. Tap into digital advertising and increase your online visibility. Customers are also more likely to do business with you again if you have good customer service skills.

Use these strategies in order to grow your business successfully.

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The Role of a Business Lawyer to the Success of Your Business

Not all small business owners retain the services of Vancouver law firms at the beginning of their operations or right when they are starting out. Most would probably think to retain the services of law firms in Vancouver later in their operations or once they have grown substantially. But this is where legal problems often arise.

There are specific legal pitfalls that a lawyer from Lakes, Whyte LLP can save you from. Here are some of them: 

1. A lawyer can help you create a good employment contract. 

Too often companies get in a dispute with their employees because of regulations that are not in the employment contract or vague terms in the contract. It helps to be more specific in your company rules and in providing information on employee roles in order to avoid disputes in the future, especially one that involves money.

2. You can avoid costly litigation with the help of a lawyer. 

One way to avoid getting in costly litigation with clients and business partners is by having all contracts read and studied by your lawyer. You can avoid getting in agreements that might have loopholes and clauses that could put you at a disadvantage in the future. 

3. You can rely on your lawyer to help you organize your business model. 

It is not uncommon for business owners to make the mistake of registering their business incorrectly. Choosing the right and the most applicable business model can help you a lot in organizing your business methods. 

If you plan on growing your company, work with lawyers such as Lakes, Whyte LLP in order to minimize your company’s legal risks.

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