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Snow Jensen & Reece Law Blog

Ten traits to look for in a business partner

Starting a business is supposed to be an exciting experience; you are chasing your dreams and working your way up from the bottom to reach the ultimate status of success. But starting a business is also an extremely challenging experience.

Luckily, finding a business partner relieves some of those challenges and helps you work your way up the business ladder. But what should Utah business owners look for in a co-owner or investor?

5 reasons that you may be able to evict your St. George tenant

The job of a landlord is far from easy. When you rent out your property, you have to carefully vet your tenants and keep after them to pay their rent. You have to keep your property in good repair. You may even have to evict them if they don't adhere to the terms of your lease.

Late or non-payment of rent

It's dangerous not to have an estate plan in place

Several recent surveys that have been conducted by Gallup, and during the past three years have all yielded similar data. They've all shown that as much as 60% of Americans have no estate plan in place. The reasons why individuals avoid doing this are varied. There are many dangers associated with not having an estate plan.

The researchers working on these studies found that individuals often avoid estate planning because they think that they're invincible. They may realize that they'll eventually die, but they tend to believe that death is far from their doorstep. Many find the idea of dying to be too depressing to think about.

Conservators and guardians aren't automatically appointed in Utah

All Utah residents are considered to be adults when they turn 18. Once they reach this age, their parents or guardians are no longer accountable for their actions. They are responsible for their own. If you have someone that you care for that's unable to take care of him- or herself, then you may want to explore guardianships and conservatorships some more.

The court system does not automatically step in and appoint someone to take care of a disabled individual's personal needs and financial matters when they turn 18. It's the responsibility of others to seek out court intervention instead. You can petition a judge to appoint a guardian or conservator to manage your loved one's personal affairs if your loved one is unable to do so.

It's important that your St. George business remains compliant

If you've researched setting up a business in Utah, then you've likely read about compliance. This concept refers to the regulations, laws and rules that your business is required to abide by. Some examples of these may include having to pay taxes, taking out a business license and adhering to certain procedures when hiring and firing staff members. These are in place to protect everyone's welfare, safety and health.

Most leaders of companies remain compliant with regulations because they want to keep their legal problems to a minimum. If they fail to adhere to them, then they may face varying penalties depending on the severity of the violation.

You can avoid property rights disputes by doing due diligence

If you're considering buying commercial real estate, then you've likely discovered that doing so is very different from buying a home. Many of the regulations and procedures that exist to help protect homeowners from being taken advantage of don't exist in the commercial real estate world. This is why it's important that you do your due diligence when buying a commercial building.

The first step that you should take in the due diligence process is to verify property information. You should confirm that the building and lot size and parking options are accurately reflected on any documents that you're provided with. You should also make sure that the correct number of units and floors are also listed there. You'll also want to confirm that the property is properly zoned for the type of business you're looking to operate.

What should be included in a living will?

While it's likely that you've heard of drafting a will, you may not have heard of a living will. It's an important part of your estate planning arsenal though.

A living will is a legal document that an individual can use to detail the medical treatments that they'd like to receive if they became unable to voice their own wishes.

St. George ranks as the second-best small city to open a business

A report published by the personal finance website WalletHub on April 22 gave St. George another title to boast about. The southern Utah city has been designated as the second-best small city to set up a new business. Cedar City ranks 19th. Five other cities in the state made an appearance among the top 30 locales listed.

For the purposes of this study, WalletHub only evaluated cities across the United States that had a population of under 100,000. They ended up evaluating a total of 1,200 municipalities in terms of the ease of access to resources, business costs and the overall business climate.

St. George's home prices are fast outpacing residents' salaries

Many who travel to St. George find themselves immediately attracted to the area's scenic views and sunny weather. These are two reasons that the southern Utah city has become one fastest growing metropolitan areas in the country. Data published by both the U.S. Census Bureau and HomeArea shows that St. George's home prices have been increasing more quickly than residents' incomes though.

The HomeArea report outlines how the city has been successful in attracting new industries to the area. This has created new jobs. Even still, the rise in pay that these new work opportunities have brought haven't helped residents keep pace with the ever-increasing home costs in the area. They're currently on an upward trend much more than incomes are.

Factors to consider when choosing a guardian for your kids

Most adults finally get around to handling estate planning once they start having children. An important step parents have to take when doing this is to appoint a guardian for their minor children. There are some factors that you should keep in mind when you start thinking about who you're going to select.

The age of a prospective guardian can be important. If you select an older person for this role, then they may be in poor health or nearing death by the time that they're called upon to assume their duties. Their approach to parenting may be a bit dated as well.