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News in Colorado and on the legal front.
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Five Considerations Before You Use a Payment Demand Letter

12/10/2020

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  1. ​Demand letters do not guarantee compliance. A demand letter can help communicate to those who owe you money that you are serious about pursuing the debt. Before receiving a demand letter, an offender may ignore the debt and hope it will go away. However, upon receiving legal notice that a claim may be made against them, many people respond swiftly. Nevertheless, this is not always the case—demand letters are sometimes ignored, or a response explaining why the debt has not been paid is received instead. When sending a demand letter, be prepared to take action: Consider the steps you are willing to take if the individual or business refuses to pay out of spite, inability, or some other reason.
  2. A demand letter can be used against you if a legal battle ensues. The saying “anything you say can and will be used against you in a court of law” applies to demand letters. As a result, you must be very careful about the language that you use in your letters. You should not use a demand letter to threaten unfounded or frivolous claims. It should also not be used to threaten any physical or unlawful consequences. Doing so will cause more harm than good, and you could face legal penalties if you are not careful. ​

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Succession Planning Post COVID-19

12/10/2020

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Succession planning has always been an integral part of estate and retirement planning. For many business owners, especially those in closely held businesses, preparation for succession or the sale of their business is crucial for the owners’ financial future. In light of the global pandemic, we have a situation that’s changing the face of “normal” succession planning. This is also quite relevant to estate planning. If an individual is contemplating a near-term liquidation of a business interest, that may impact the type of estate planning that may be warranted. If an individual lives in a high tax state, consideration of transferring interests to a non-grantor trust in a no-tax state may also be warranted.
 
This Time Is Different
​
​Although many business owners have weathered difficult times in the past, and perhaps rebuilt their businesses through several recessions, the current situation feels different. Some business owners experienced very bleak times following 9/11 and were able to recover. They survived the financial meltdown in 2008–2009. Now COVID-19. Business owners face a larger dilemma, which has many contemplating whether it is time to do something different.
​

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  • Home
  • Practice Areas
    • Business Law >
      • Business Formation
      • Annual Corporate Maintenance
      • Contracts
      • Employment Agreements
      • Tax Matters
    • Commercial Transactions >
      • Corporate and LLC Formation and Planning
      • Employment Agreements
      • Tax Matters
    • HOA Law Homeowner's Association
    • Litigation, Arbitration & Dispute Resolution
    • Real Estate & Land Use >
      • Contracts and Construction Contracts
      • Zoning and Land Use
    • Restaurant and Hospitality
    • Wills & Estate Planning
    • Special District & Local Government Representation
  • Attorneys
  • News, Events & Resources
  • Careers
  • Contact Us