Posted by admin on May 24th, 2008 — Posted in Legal Help
Back and forth to the Disability Determination Services (DDS)… Arranging and rearranging data and documents for applications, appeals and motion of requests… Monthly contacts with the Social Security Administration Claims Rep and the DDS examiner… After endless consultations with your legal counsel or representatives, after many, many series of medical consultations and examinations, and finally, after too many false hopes and expectations… Your patience and determination has been rewarded! You have received the ultimate information relating the approval of your Disability Benefit claim!
So, what now?
Usually, the letter sent to you by the SSA informing you of your claim approval will show the amount of the benefits you are to receive, as determined by the Social Security Office, and when the payments will start. The benefits due to you are to be given monthly. Generally, you must be disabled for 5 full calendar months before you can receive your disability benefits for the first time.
If it had taken you so long to wait for the approval of your benefit claims, it is also likely that you will receive certain amounts for benefits past due. This will be based on how long it took to process and resolve your case and the determined actual date your disability began. These back-payments will be given to you in lump sum - the SSI give it by installment, depending on its amount size, while the social security disability back-pay are paid in a single lump sum.
Certain medical benefits will also be received. You may receive Medicaid if your benefits are derived from supplemental security income (SSI) or Medicare if it is from the Social Security Program, also called Retirement Survivors Disability Insurance. Your medical benefits will start coming 2 years after your eligibility for benefits has been established.
Ever wonder how they come up with your package? The amount of your SSDI payment is based on the worker’s lifetime average earnings covered by the Social Security. It is adjusted each year because of changes in the cost-of-living. Reduction of the amount is based from the Workers’ Compensation payments (including Black Lung payments) and/or public disability benefits, for example certain state, and civil service disability benefits. Other income or resources do not affect the payment amount.
On the other hand, the SSI payment amount is based on the amount of countable income that you receive, your living arrangement, and the State where you reside. The basic monthly payment is called the “Federal Benefit Rate” (FBR). During the year 2004, FBRs are $564 per month for an eligible individual, and $846 per month for an eligible couple. These are adjusted each year depending on the changes in the cost-of-living rates. “State Supplement” are also additional amounts paid to some by their state. The amounts and qualifications for this vary on each state.
SSI payment amount is figured by adding up your FBR and State Supplement, if any, and then subtract your countable income.
Start enjoying your benefits and remember, folks, spend wisely!
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Posted by admin on April 26th, 2008 — Posted in Legal Help
Pre-nuptial agreement is the fad of today’s marrying generation. Pre-nuptial or pre-marital agreement is entered into by couples to refrain from future property problems that would arise from separation, annulment or divorce. And also, couples who tend to enter into a prenuptial agreement would want to make sure that their assets remain theirs if ever their marriage fails as well as to make sure that their properties would go to their children in the event of their death. Prenuptial or pre-marital agreement is a smart and practical way of accepting the fact that most marriages often times fails and end in separation or divorce.
The pre-marital or pre-nuptial agreement is a binding legal contract between the couple who are soon to marry. In fact in most states prenuptial agreement is well favored and encouraged nonetheless there are various facts as well as circumstances that should be taken in consideration by a couple in contracting a prenuptial agreement.
In order for a prenuptial agreement to be valid, couples have to make full and comprehensive written disclosure of their individual assets and liabilities. They also have to make sure that the terms and conditions of the prenuptial agreement are reasonable and fair for the couples at any given circumstances. The couples should have ample time to review the proposed prenuptial agreement with their individual legal counsel to guide them. Although prenuptial agreement can be done without the presence of a counsel however for the couple’s peace of mind it is still much preferred to have their own counsel. With regards to the form to be used there are no standard pattern the couples can simply state in their prenuptial agreement all the terms and conditions they deem appropriate to protect each of their assets and rights. Also, couples who contracted prenuptial agreement are also advised not to commingle their separate properties with those of the marital properties. They should preserve the separateness of their properties and if ever they sold a separate property they ought to deposit the proceeds of the sale into a separate account under their own name. However, if there comes a time when the couple make use of their separate money for a common purpose the money will changed from separate to marital property.
The cost of contracting a prenuptial agreement is much lower compared to the cost of getting the court to decide on your assets if ever the marriage fails. Prenuptial agreement prevents future fights over assets.
For suggestions and comments kindly visit Los Angeles Attorney Legal Services
About the Author
Jinky C. Mesias is a graduate of Bachelor of Arts and Sciences in Business Administration Major in Business Management. She is at present an Associate Manager of a Life Insurance Corporation and a freelance writer.
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Posted by admin on April 6th, 2008 — Posted in Legal Help
PJ Pipe and Valve Co Ltd v Audco India Ltd [2005], the Court ruled that damages for a breach of a commercial agency agreement should be assessed on a flexible basis according to the particular facts of each case.
The claimant, PJ Pipe, is an agency in the petrochemicals industry, promoting and selling products in this industry. The defendant, Audco, is based in India and manufactures valves some of which are used in the petrochemical industry.
Audco hired PJ Pipe as their agent and entered into two agreements with them. In 2001, they entered into an Agency Agreement granting PJ Pipe the right to sell products as its agent in Nanhai (the “Nanhai Agreement”). In 2002, the two parties entered into a general exclusive agency agreement which gave PJ Pipe exclusive rights to represent six named UK contractors for a period of two years expiring on 31 December 2003 (the “Exclusive Agreement”).
In September/October 2002, Audco breached the Exclusive Agreement by employing an alternative UK agent and by purporting to terminate the Exclusive Agreement with PJ Pipe before the expiration of the term of the Exclusive Agreement.
PJ Pipe accepted the breach and commenced proceedings against Audco for commission and damages under the two agreements.
Regulation 17 of the Commercial Agents (Council Directive) Regulations 1993, SI 1993/3053, , provides: ‘(6) . the commercial agent shall be entitled to compensation for the damage he suffers as a result of the termination of his relations with his principal. (7) For the purpose of these Regulations such damage shall be deemed to occur particularly when the termination takes place in either or both of the following circumstances, namely circumstances which- (a) deprive the commercial agent of the commission which proper performance of the agency contract would have procured for him whilst providing his principal with substantial benefits linked to the activities of the commercial agent; or (b) have not enabled the commercial agent to amortize the costs and expenses that he had incurred in the performance of the agency contract on the advice of his principal.’
The case concerned a number of issues, for instance, whether the claimant was a commercial agent within the meaning of the Commercial Agents (Council Directive) Regulations 1993, SI 1993/3053 (see above) and the approach to be taken in the calculation of the amount of compensation, if any, arising under Regulation 17 of the Regulations. The arguments centred on whether the approach of the French courts should be adopted whereby the level of compensation was fixed as the global sum of the last two years’ commission or the sum of two years’ commission calculated over the average of the last three years of the agency contract, although the court retained a discretion to award a lesser sum.
PJ Pipe argued that a 5% commission rate should have been awarded as this was the standard commission rate in this industry. Audco contended that there was no such standard commission rate but rather the commission rate depended on a number of factors which would reduce the rate to 3.5%.
The Court concluded that:-
the “rule of thumb” commission level in the oil, gas and petrochemical supply business is 5%;
to reflect commercial reality, the 5% figure is not immutable and will be fact sensitive to the relevant case, particularly when either low or large value orders are involved;
for small amounts of work undertaken late in the day, the commission rate would be 4.5%;
where PJ Pipe had simply “opened the door” for Audco in Nanhai the commission rate would be 3%;
PJ Pipe was a commercial agent for the purpose of The Commercial Agents (Council Directive) Regulations (”the Regulations”) as PJ Pipe played a crucial role in effecting introductions, persuading contractors to deal with Audco and assisting with quotations and queries;
in accordance with the Regulations, the Court should gauge the loss to PJ Pipe by the termination of the agency and avoid any double counting;
the Court need not confine itself to the French two-year tariff approach when assessing loss (the global sum of the last two years’ commission or the sum of two years’ commission calculated over the average of the last three years of the agency contract); and
PJ Pipe was entitled to compensation of $118,518.60 under the Regulations as well as damages for loss of commission.
It is likely that Audco will appeal this award.
If you require any advice on drafting or termination of agency agreements, please contact us at enquiries@rtcoopers.com
© RT COOPERS, 2005.
This Briefing Note does not provide a comprehensive or complete statement of the law relating to the issues discussed nor does it constitute legal advice. It is intended only to highlight general issues. Specialist legal advice should always be sought in relation to particular circumstances.
Full service commercial law firm based in the City of London specialising in Joint ventures, Corporate Finance, Commercial Contracts, Data Protection, Distribution Agreement, Agency Agreements. Our commercial lawyers are second to none. If you require any advice and assistance, please contact us at enquiries@rtcoopers.com. Or visit our website at http://www.rtcoopers.com/practice_corporatecommercial.php
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Posted by admin on April 2nd, 2008 — Posted in Legal Help
In today’s world and high divorce rate, men and women should be aware of some legal issues to protect not only themselves, but also their children and any assets you may have. I will explain some of the biggest legal mistakes people overlook. It’s much easier to prevent problems than to fight to fix them later.
- Prenuptial Agreement. I know the words scare everyone. But what is it? Simply put, a prenuptial agreement is when a couple (before they marry) decides how to divide property if they divorce or one of them dies. Usually there is information in there about having a will that carries out the intent of the prenuptial agreement and waiving rights given by law, to stay in accordance with the prenuptial. Most agreements are upheld if both parties provide full disclosure of their assets and liabilities. Have both parties been represented or had the opportunity to be represented by independent legal counsel? Did both parties enter in voluntarily and of free will? Poor old Marla Maples. She didn’t get much from her divorce, right?
- Keep your property separate. I don’t mean just your house or other property. I mean stocks, checking accounts and the like. Most people get burned when they commingle finances together. If you have a separate account, keep it separate. If you need to move money, move an amount equal to your paycheck so if things go south, it will be easier to prove you were just putting your paycheck into the joint account instead of any of your original asset money. Otherwise you have to prove what portion of the money was yours prior to it being commingled together. It’s almost impossible to do.
- If your spouse has a business, you should know what it is and what they are doing in the business. If an unfortunate event occurred, could you take over their business without befalling tough financial times yourself? Would you have to take what little life insurance you had from your spouse and pay off bills from the business? How tragic and vulnerable you can be when you are grieving for a loved one. Plan ahead. Know what’s going on.
- Purchase life insurance. I know it’s like throwing money down the drain. But not really. If something happens to your spouse, then it wasn’t wasted. I’d rather waste the money and have piece of mind. What about disability insurance? Could you survive if your spouse became disabled and was unable to manage their business or job?
- Know what you own. Review bank statements and keep a list of your bank account numbers. Don’t sign blank forms and review your tax forms before signing them. Nobody plans to divorce.
- If you start a business, think about incorporating or using a Limited Liability Corporation, LLC. Opening a business is easy. Keeping it open is hard. Pay all your taxes as some can come back to you personally. Follow all the labor laws. Provide insurance not only for your business, but workers compensation, too. Liability insurance isn’t required legally, but we don’t live in fantasy world where nobody sues.
- Put the pen down. Don’t sign liabilities you don’t want to be liable for. Have your lawyer review documents if you don’t understand them. Don’t sign a quick claim deed. There would be no reason unless your spouse is up to no good.
- Don’t forget the IRS. If you don’t pay taxes on your business, these taxes can come back to haunt you personally. And if you sign a joint tax return, you can be liable for any tax issues your spouse inadvertently creates later on. Your spouse may be long gone or unable to pay, but the IRS sees that you signed your name on the tax return, too.
- Plan and prepare for your death or incapacity. Death is inevitable. Incapacity, maybe not. Do you have a will or a trust set up? If you want, list specific things in your will that you want to go to certain individuals. Durable power would be good to have incase you are unable to make decisions.
- Organize your paperwork. I know we don’t have time to spend wasting on sorting out our business or property. Keep it all in one file. Ever have to go through a deceased loved one’s records to try to figure out what they had and what their final wishes were? Keep your records for your business so your employees could keep the place running if you were gone for a few months. You need to maintain your customer base so if you sell the business, its still worth something or doesn’t burden your family with personal debt.
I hope these ten items were helpful, if not somewhat scary, to get you on the right patch to secure your personal future no matter what legal problems you may face.
About The Author
Stuart Simpson
http://www.attorney-lawyer-information.com/
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