According to personal finance company NerdWallet, Ohio was once the industrial heart of America. Since the turn of the second half of the 20th century, a lot has changed. Even so, the Buckeye State remains one of the best places to build a business. Whether an entrepreneur wants to build an empire that spreads across the nation or a humble mom and pop shop that supports a small community, Ohio is a suitable candidate.
Whether you are an elderly person, mortally ill or just getting an early start on your estate planning, the last thing you want to worry about is how your assets can divide your family. It is fairly common for families in Ohio to face extreme tension over who should get what when someone passes, even when a will clearly states the deceased’s intentions. Suddenly, deep-seated resentments rise up and family members are at each other’s throats.
Divorce has become a common experience for modern American families. So has remarrying, resulting in what people now call blended families. Divorced parents who already have children from previous marriages fall in love and start new, blended families. These families can be incredible sources of support, but they can also give rise to unique legal considerations for estates and last wills.
New technology is sweeping through Ohio and the rest of the world called “deep fakes.” This involves the use of AI technology to create fake videos that make it appear as if people say or do things that they did not. Some people use this technology for harmless fun, but others have used it to harm businesses or spark political chaos. From impersonating President Obama to copying actors into films they never starred in, this technology has far-reaching implications.
Having an oil and gas company exploit your mineral interests on your property can be an exciting prospect since you can reap some of the proceeds. However, if you have no experience with oil and gas development in Ohio, you should consider taking some important initial steps in the event an oil and gas developer inquires about your oil and mineral rights. You can avoid some pitfalls and take advantage of important opportunities.
When starting a business in Ohio, there are a few legal requirements entrepreneurs must consider before they can set up shop. One of the main things businessowners need to decide is the business type they want to operate under. Most entrepreneurs choose an LLC. However, this comes with a wealth of other options. This includes whether or not they want to elect to be treated as a corporation, and what kind of corporation that would be. Why then do so many people choose S-corps?