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North Canton, Ohio legal blog

Should I write my own will?

When estate planning in Ohio, you may be tempted to write your own will to save money. After all, there are numerous resources out there that make it seem like a breeze, especially if you consider your needs to be very simple. While you can create your own will, The Balance offers a few reasons why you may not want to.

Laws vary quite a bit

Handling litigation over the breach of a business contract

When business deals are made, those involved in the agreement are often excited and may look forward to the accomplishment of business goals and new opportunities. However, things fall apart for many different reasons, including the breach of business contracts. If you are a business owner who is struggling with litigation resulting from allegations that your company is responsible for a contract breach, or if you are considering legal action against another company or partner who failed to abide by the terms of a business agreement, it is pivotal to know exactly which options you have and approach the case properly.

When it comes to business litigation, many different issues can impact how a case plays out. It is important to go over the ins and outs of your case and make sure that you protect your interests by thoroughly reviewing your different choices and knowing which steps need to be taken. Ultimately, the end result of a business lawsuit can have a significantly damaging impact on a business if it is unfavorable and this could be a critical time to protect your company. Business contracts are broken for numerous reasons and in various ways, but this issue needs to be handled cautiously and business owners need to realize what may be at stake.

A car accident may leave you with injuries you cannot feel

Surviving a car accident is a great relief, especially if you do not suffer any serious injuries. Unfortunately, even though you may not feel any pain after the accident or have visible signs of injury, you may still be in great danger from injuries you don't know about.

Even if you don't think that your car accident was very serious, our bodies are often much more fragile than we realize, so it is still wise to seek a complete medical examination from a licensed and qualified medical professional. By undergoing a full examination as soon as possible after the accident, you can identify injuries that may not cause pain or discomfort until they are much more dangerous.

When a worker takes legal action

We have addressed many different legal challenges that oil and gas companies face, from considerations related to contracts to trespassing and land use. However, there are many other reasons why a business or individual may decide to take an oil and gas company to court. For example, you may find yourself in this position because a worker has decided to pursue legal action, in which case it is especially important to be prepared. Not only could the outcome of this case have an immediate impact on your business from a financial angle, but it could lead to other challenges down the road (such as additional cases brought on by other workers).

Some of these lawsuits surface because of an injury that occurred on the job or because a worker passed away while performing their job duties. These can be especially emotional, complex cases and it is pivotal to handle them properly. Legal action may also surface because of allegations that a worker was wrongfully terminated, discriminated against or denied wages that they were owed. We know how complicated a lawsuit filed by a worker can be, so you should carefully examine all of your legal options.

Reviewing some challenges associated with mergers

In a recent blog post, we looked at some of the factors associated with successful business acquisitions and mergers. Mergers can offer an excellent opportunity for growth and the ability to take your company to heights that have never been reached. However, it is crucial to be prepared and realize that certain challenges may arise. Hopefully, any potential difficulties that arise do not necessitate calling off the merger, and by being prepared and having a solid understanding of what to expect you may be in a better position to capitalize on these opportunities.

First of all, it is important to think about how the merger will impact the people who work for your organization. Sometimes, differences with respect to organizational culture can increase the probability of a failed merger, so it is important to review an organization's culture beforehand. Likewise, mergers can be problematic with regard to employee retention, as some staff members may question the company's direction and how the move will affect them. As a result, you should try to ease their concerns and make employees feel confident about where the company is headed as well as their position.

Guardianship: an important estate planning decision

Estate planning in Ohio is important for many reasons, and much of that is to protect assets and manage finances. If you are a parent of a minor, estate planning is extremely important in terms of naming a guardian for your child in the event both parents die. Planning for the worst will decrease the stress and worry if something does happen, and you can ensure your child is well taken care of by someone you trust.

According to the State Bar of Michigan, a named guardian is responsible to take over the role of the parent. Some of the decisions and actions a guardian is responsible for include:

  • Providing a stable home environment
  • Providing necessities such as clothing and food
  • Medical care
  • Education
  • Receiving any benefits in the child's interest 

Identifying key factors for a successful merger

When two companies merge in Ohio, opportunities and possibilities may seem limitless, from growth and diversification to eliminating the competition. The team at Baker, Dublikar, Beck, Wiley & Mathews has experience assisting clients with business acquisition and mergers.

According to Small Business Trends LLC, identifying key factors and testing for feasibility is critical to a successful merger.  

  • Are the products or services complementary or competitive? If the offerings are synergistic, the newly formed organization can expand the existing company’s market share. Conduct market research by asking several current clients if they would buy the other product or service and dig into why or why not. When offerings are too similar, you may end up cannibalizing customers. If that is not the goal, a merger may not be the right move.
  • Have you given adequate time for the merger to show results? Blending two companies, from personnel to marketing and back office functions frequently takes much more time than anticipated. This can lead to dissent, finger pointing and a failed merger. Examine the profitability and growth of each organization and reduce expectations by half for at least six months. This can be a more accurate assessment of post-merger profitability.
  • Are the management teams a good match? While eliminating duplicate managers and departments is common, there should be clear leaders in the new organization that are culled from each company. The successful blending of the two business cultures can help valuable employees thrive in the new environment, which can help maintain the stability of the new business entity.

How can I prevent contract disputes?

Contracts are a crucial element of doing business in Ohio. However, the chances of being involved in a contract dispute at some point are unfortunately high, and it’s up to you to take the proper steps to prevent that from occurring in the first place. Inc. offers the following tips in this case, which can help you lessen the chance of litigation down the line.

Finalize your budget before signing

Choosing the right executor for your estate

If you are dealing with long-term financial planning in Ohio, an important consideration is who to choose to be the executor of your estate. There are many factors that go into choosing one, and it is a good idea to understand exactly what an executor does so you do not name one who is not up to the task.

According to Forbes, the general responsibilities of an executor, or fiduciary, include distributing assets and managing expenses and liabilities, and the task of naming this person should not be taken lightly. Some qualities you should consider include:

  • A trustworthy individual who will follow through with your wishes
  • Someone with a strong attention to detail and is very responsible
  • Ability to work with financial professionals
  • Someone who understands your family's dynamics and overall values
  • An individual who is mature but fairly young so he or she outlives you

Understanding oil and gas rights as an Ohio property owner

Most people purchase property either as an investment or on which to build their own home. However, some people purchase rural property in Ohio and other areas for the potential of securing oil and gas leases or leasing mineral rights to commercial companies.

In theory, when an individual owns a tract of land, they also own any natural resources underneath the soil, but they can lease those rights to others. However, leases for these resources are confusing and not always straightforward.

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