Leah: How much should a simple legal will cost?
Joe Escalante: $69!!!!!!! Through Legalzoom. If a lawyer holds your hand through the process I would pay no more than $1,200. Get some tax advice too. Sometimes that’s better than legal advice.
Gloria: In a living will how would you handle a financed auto?
Joe Escalante: A Living Will is actually a term used for medical directives. Are you talking about a will or maybe a living trust?
Robert: If you register an name as an LLC, can your DBA be a different name or does it have be the same name to be associated with that LLC? Example: Company is called “LegalDestiny”, can they have an DBA under the name “Cars4Cash” or does it have to still be “LegalDestiny”
Joe Escalante: That is absolutely OK.
Eyassu: What types of business competetions are unfair under US federal law?
Joe Escalante: A common one is trading off someone’s good name by mimicking their logo or colors, thereby creating confusion in the marketplace. Another might be corporate espionage to create a commercial advantage. Poaching employees is dicey as well.
Kevin: Hello Joe. We live in NC and want to create an LLC around a series of health related ebooks (for the kindle and ibooks) and a website (everything virtual, no physical products). We work from home.
We would like to create the LLC in Wyoming (choosing corporate taxation, for tax benefit). Would this be advisable or you recommend forming it in NC? Any drawbacks as to do it in WY?
Thanks for the help.
Joe Escalante: These sound like tax questions to me. You need some advice from a tax advisor in each state. Legally, there won’t be much difference unless state regulations affect your product. Like if you we’re making high capacity assault weapon magazines or selling Salvia or hallucinogenic bath salts.
LegalZoom: You can get tax questions answered here on the LZ Facebook page every other Thursday: http://zoo.mn/AskTheTaxPro
Ed: can an LLC right off a portion of one of the partners home as a home office?
Joe Escalante: Thats tax advice better answered by Gary here on Thursdays but in General, if the LLC is paying rent for that member’s office, it’s a business expense.