Depending on the circumstances of your divorce, you may be required to attend a deposition hearing. If so, you will receive a notice that includes the date, time and place of the hearing, along with any documentation you should bring with you. The people attending the hearing could include you and your attorney, a court reporter and possibly your spouse and his or her legal counsel. At the hearing, attorneys and court officials will ask you a variety of questions on subjects related to your divorce, including employment history, debts and assets, mental and physical health and your fidelity during the marriage. If your spouse is present, he or she is not allowed to interrupt you in any way. Do you need to answer every single question?Most of the time, you will need to respond to every question as truthfully and honestly as possible, unless your attorney instructs you otherwise. Therefore, before you attend the hearing, you should consult your lawyer on the questions you are likely to face and how you should answer them. Prepare ahead of time by having your attorney put you on the spot with these questions and forcing you to answer them. Some of the questions could make you uncomfortable. As difficult as it may be, you will need to answer them unless your lawyer objects on the grounds of it being inappropriate. If your attorney tells you to answer the question, you must do so or face some consequences that could include a potential fine or a court order to answer the question later. It is thus in your best interest to always follow the advice your legal counsel provides you. Steps to Take if Divorce Appears ImminentMost individuals work hard to avoid splitting up, but sometimes couples find themselves facing a divorce even after their best attempts to salvage a marriage. If divorce is on the horizon, there are several steps you can take to better prepare yourself for this life-changing event:
Free Initial Consultation with a Utah LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Revoking, Challenging or Changing a Will Power of Attorney and Living Will Bank Account Beneficiary Rules via Michael Anderson https://www.ascentlawfirm.com/depositions-in-divorce/
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Doing estate planning may seem like an overwhelming job filled with complicated paperwork. So you’ve been putting off the process until you have more time. The good news is there’s a quick and easy way to get started. You can select a bank account beneficiary by following a few simple rules. This cost-free service will transform your accounts into a type of informal trust commonly referred to as a payable on death (POD) account. Your financial institution can provide you with a form for each account. The person who you choose to inherit your account is referred to as the beneficiary. After your death, the account beneficiary can immediately claim ownership of the account. Before you set up your account, let’s examine the bank account beneficiary rules more closely. Who Can Be an Account Beneficiary?You’re in charge when it comes to naming an account beneficiary. It can be anyone you chose, from your best high school best friend to your kids. You can even designate multiple beneficiaries to a single account, and select the percentage each person receives. Some financial institutions may require your beneficiary’s social security number. So you’ll probably need to discuss your choice with your intended beneficiary. Charitable groups and nonprofit organizations can serve as bank account beneficiaries. You will need to be certain the group you select is recognized by the Internal Revenue Service as a charitable organization. Corporations, partnerships and limited liability companies cannot be your designated beneficiary. If circumstances in your personal life change, make sure to update your account beneficiary. If you’re not careful, you could unintentionally leave money to your former spouse. If your beneficiary dies before you, the account assets become part of your estate to be distributed under the terms of your will. What Rights Does an Account Beneficiary Have?While you’re alive, your accounts are your personal property. You can spend your money, close your account or change beneficiaries. Your account will operate just as it did prior to designating a beneficiary. A beneficiary has no rights to your property until after you pass. The only difference you may notice is your account being referred to as an “in trust for” or ITF account. When Can an Account Beneficiary Claim Account Assets?After your death, the beneficiary has a right to collect any money remaining in your account. They simply need to go to the bank with proper identification and a certified copy of the death certificate. The bank will have a copy of the form you filled out naming them the beneficiary. The bank will provide the new account owner with a few additional forms, and them the money is transferred. No waiting for probate. The laws of your state may require a brief waiting period and creditors may have the right to settle final debts. Why Select a Bank Account Beneficiary?A POD account is a popular method for avoiding probate and quickly transferring property. After you die, all your assets that are not in a trust or otherwise designed to pass outside of probate, will be distributed under the court’s supervision. The legal process of probate can take months or even years to complete. During this time, your loved ones have no access to the property you intended for them. When you name an account, does not become part of your estate after your death. It is transferred to the beneficiary and becomes their personal property. Free Consultation with a Utah Estate LawyerIf you are here, you probably have an estate issue you need help with, call Ascent Law for your free estate law consultation (801) 676-5506. We want to help you.
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Revoking Challenging or Changing a Will via Michael Anderson https://www.ascentlawfirm.com/bank-account-beneficiary-rules/ While the overall divorce rate in the United States has remained somewhat static over the past two decades, experts say that a relatively new trend has emerged. In short, members of the Baby Boomer generation (currently aged 52-70) are getting divorced at higher rates than 20 years ago, while the divorce rate among younger couples has declined significantly. According to Sociologist Susan Brown from Bowling Green University, there are a couple key reasons why older couples are splitting up more often than in years’ past. For one, many of them experienced the so-called “divorce boom” of the 1970s and 1980s, and may be in second or third marriages today. Remarriages are more likely to end in divorce than first marriages. Secondly, older married women tend to have more financial security than their younger counterparts, and thus have the flexibility to be able to end their marriages if they are unhappy. Interesting divorce trends among MillennialsA change in marriage culture may be making a big difference for younger couples. According to Brown, fewer people are getting married in their 20s than at any point in recent history — and those who are tend to be in strong positions financially. She also notes that fewer young couples can afford to get married today, and so smaller numbers of people are getting married in general. That correlates to a lower divorce rate among this new millennial generation. Couples Therapy Can Work — Even When You Go AloneIf you have hit a rocky point in your relationship, you might consider going through couple’s therapy. However, it’s not always easy to convince your partner to attend these sessions with you. If this is the case, you might still find that attending couple’s therapy sessions by yourself can still be beneficial to you and your relationship. The following are just a few reasons why attending these meetings by yourself can be helpful:
Free Consultation with Divorce Lawyer in UtahIf you have a question about divorce law or if you need to start or defend against a divorce case in Utah call Ascent Law at (801) 676-5506. We will fight for you.
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
SEC Names Deputy Chief Accountant Getting Divorced Later in Life Revoking Challenging or Changing a Will via Michael Anderson https://www.ascentlawfirm.com/divorce-for-millennials/ It’s perhaps understandable that some people become complacent after drafting a will, even if the will is years or even decades old. Many people assume that as long as they have some form of will in place, all of their intentions–including those that are unstated–will be honored. Unfortunately, the assumption that a court or other estate administrator can read minds can lead to family disputes and to expensive lawsuits. This section provides information on updating or revoking a will, and information about contesting one is also provided. The Importance of Updating Your WillIf you have a will, then you understand the importance of having a legal document in place that provides your instructions concerning distribution of property, guardianship for your minor children, and your end-of-life care. However, if you’ve obtained new property, if you’ve decided on different and/or new heirs, or if circumstances have changed for other reasons, then it’s important that you update your will. If your will is outdated or otherwise incomplete, a court or other administrator must resort to guessing at your intentions. Common Scenarios for Amending a WillWhile it’s always a good idea to keep your will updated, there are some common scenarios that particularly warrant updating your will. For example, if you own property that’s not mentioned in your current will, particularly property that cannot be easily divided, then you should revise your will. Also, if you want to add or remove heirs from your current will, then you should do so legally, in writing. A court has no way of knowing your intentions, and you don’t want a “he said, she said” situation to develop. If you’ve recently remarried, and/or if you want to leave property for stepchildren, it’s important to add a provision to your will. While some states have heirship laws that automatically designate a person’s children as his or her heirs, these laws generally don’t apply to stepchildren. Options for Changing or Revoking a WillThere are several options available for changing or revoking an existing will. The simplest method is to create a new will with a paragraph stating, in clear language, that any previous versions are void and have no legal effect. Note that while courts generally look to the most recent version if a person has several wills, to avoid confusion, it’s best to make clear that your most recent will is the one that’s legally binding. Challenging a WillA will can be challenged if there’s a suspicion that the decedent was either manipulated or coerced into signing it, or if the will’s signature looks forged or otherwise suspect. If there are multiple versions of a will, there can be a challenge concerning which version is the legally valid one. How a Lawyer Can Help You NowAn attorney can answer your questions about changing or revoking your will. He or she can also help you to update your will to make sure it suits your estate and reflects your current needs. This section contains a link for consulting with an experienced estate planning attorney in your area. Free Consultation with a Utah Estate LawyerIf you are here, you probably have an estate issue you need help with, call Ascent Law for your free estate law consultation (801) 676-5506. We want to help you.
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
SEC Names Deputy Cheif Accountant Good and Bad of Prenuptial Agreements via Michael Anderson https://www.ascentlawfirm.com/revoking-challenging-or-changing-a-will/ For as many misconceptions as people have about marriage, there are just as many that exist about divorce. Many people hold on to these myths and falsehoods very closely, making it difficult to make the decision to end what most would consider a bad relationship. The following are just a few of the most common misconceptions about divorce:
No-Fault vs. Grounds-Based Divorce in UtahUtah has adopted a no-fault divorce clause. The revised law dictates one partner must state under oath the marriage relationship has irretrievably broken down for at least six months. From that sworn oath flows settlement of issues like child custody, payment of support, and equitable distribution of marital property. The intent of no-fault divorce is to provide an easier route to divorce and reduce the financial drain of divorce trials. Has the new law lessened acrimony associated with divorce, or did it simply widen the battlefield for unhappy spouses? The jury is out on both questions. After an initial lull, divorce filings have again increased. Court dockets are backlogged, and challenges to the no-fault law continue. In addressing the subjective nature of irrevocable breakdown, a judge has opined that the Legislature did not intend nor is there a defense to Domestic Relations Laws. While the no-fault ground has come under fire, our family law practice has successfully addressed confused formulas for fixing temporary maintenance and pressed cases where the greater wage earner does not end up being the monied spouse. These challenges continue the tradition of protracted divorce. And while a no-fault filing sets aside blame, a judge may consider any other factor relevant to each action—including marital fault. If misconduct precipitated your marriage breakup, tell your attorney. Fault or no-fault, by applying our legal prowess and strategic methods, we can work to achieve the result you need. An Attorney Is a Wise Choice for Divorce and Family Court IssuesWhen you and your spouse no longer want to live together as husband and wife, if you cannot agree on the terms of your divorce, you will wind up in family court. Skilled divorce lawyers who practice in family court on a daily basis are a wise choice to represent you if you find yourself in need of an attorney in any type of family court dispute or matter. How we can assist you in family court?Some reasons an attorney is a wise choice:
Free Consultation with Divorce Lawyer in UtahIf you have a question about divorce law or if you need to start or defend against a divorce case in Utah call Ascent Law at (801) 676-5506. We will fight for you.
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
SEC Names Deputy Chief Accountant via Michael Anderson https://www.ascentlawfirm.com/misconceptions-of-divorce/ The Securities and Exchange Commission today announced the appointment of Sagar S. Teotia as a Deputy Chief Accountant in the agency’s Office of the Chief Accountant. As Deputy Chief Accountant, Mr. Teotia will lead the activities of the office’s accounting group, which includes understanding investor and other perspectives on accounting matters and consulting with public companies, auditors, and divisions and offices within the SEC, on the application of accounting standards and financial disclosure requirements. Mr. Teotia will also assist the office in discharging the Commission’s oversight of standard setting bodies such as the Financial Accounting Standards Board. Mr. Teotia previously served in the office as a professional accounting fellow from 2009 to 2011. During his time as a fellow he followed the activities of professional accounting standard-setting bodies, both within the United States and internationally. “I am very pleased that Sagar has agreed to return to the Office of the Chief Accountant to oversee the accounting group,” said SEC Chief Accountant Wesley Bricker. “Sagar’s prior experience as an SEC accounting fellow as well as his expertise and wealth of experience in public accounting will provide critical service to investors, companies and the Commission.” “I am honored to have this opportunity to return to work at the Commission and serve with the talented and highly dedicated team in the Office of the Chief Accountant on behalf of investors,” said Mr. Teotia. Mr. Teotia joins the SEC with approximately 18 years of professional experience that includes expertise in regulatory matters, technical accounting, and mergers and acquisitions. He joins the SEC from Deloitte & Touche LLP’s National Office Accounting Consultation Group in Utah, where he was a partner. Mr. Teotia’s work has included a focus on financial instruments, business combinations, and compensation issues, including stock compensation and pension matters. He has also worked on matters regarding the application of U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards. Mr. Teotia received an accounting degree from the University of Illinois at Urbana-Champaign. He is licensed to practice as a certified public accountant in Illinois. SEC HALTS FRAUD TARGETING SENIORSAs a securities lawyer, it’s fun to see the changes that are announced from time to time by the SEC. For example, they recently announced an emergency asset freeze and temporary restraining order against a Utah-based investment adviser and his financial management company accused of scamming elderly investors out of millions of dollars. The SEC alleges that Daniel H. Glick and his unregistered investment advisory firm Financial Management Strategies (FMS) provided clients with false account statements to hide Glick’s use of client funds to pay personal and business expenses, purchase a Mercedes-Benz, and pay off loans and debts among other misuses. According to the SEC’s complaint, Glick was barred by FINRA in 2014 and had his Certified Financial Planner designation and Certified Public Accountant license revoked for conduct unrelated to today’s SEC charges. “As alleged in our complaint, Daniel Glick raised millions of dollars from elderly clients by claiming that he would pay their bills, handle their taxes, and invest on their behalf. In reality, Daniel Glick used much of their money to do what was best for Daniel Glick,” said David Glockner. The SEC’s complaint also names Glick Accounting Services, Glick’s business partner David B. Slagter, and Glick’s business acquaintance Edward H. Forte as relief defendants for the purposes of recovering client funds that Glick transferred or paid them in the form of advances or loans. The court issued a temporary restraining order against Glick and FMS at the SEC’s request, and issued an order freezing the assets of Glick, FMS, and Glick Accounting Services. The SEC encourages investors to check the background of anyone offering to sell them investments. SEC HALTS BOILER ROOM SCHEME INVOLVING STATE LOTTERY TICKETSThe Securities and Exchange Commission today announced charges against a Utah-based company, its CEO, and its top sales agent accused of conducting a boiler room scheme that solicits investments in a business purportedly facilitating online and cell phone sales of lottery tickets in various states. The SEC has obtained an emergency court order freezing the assets of LottoNet Operating Corp., David Gray, and Joseph A. Vitale. The SEC’s complaint alleges that they misrepresented to investors that their money would be used to develop and market LottoNet and that sales agents did not receive commissions. At least 35 percent of investor proceeds were allegedly paid to boiler room sales agents in the form of commissions, and LottoNet allegedly siphoned investor funds for personal spending on clothing, wedding-related expenses, and strip clubs. According to the SEC’s complaint, which was unsealed in federal court today, among the pitches used in sales agent scripts prepared for cold calls to investors was “you’re looking at a monthly dividend payout of $8,500 every month” on a $25,000 investment if LottoNet reaches 1 percent market share. The scripts also allegedly touted the purported safety of the investment, noting a 60 percent return as a “worst case” scenario if the company was ever sold. The SEC alleges that while LottoNet has raised a total of approximately $4.8 million from investors, the company had only paid $10,525.43 in investment returns to investors through the end of February. Sales agents allegedly have been paid more than $1.1 million out of investor funds. The SEC’s complaint further alleges that Vitale, who personally raised at least $1.4 million from investors, used the alias Donovan Kelly in an apparent attempt to hide from investors that he is permanently barred by the Financial Industry Regulatory Authority (FINRA). “As alleged in our complaint, little did investors know they were being duped with a script based on misrepresentations while investor funds were being spent in strip clubs,” said Eric I. Bustillo. TELECOM EXECUTIVES AGREE TO PAY PENALTIES FOR FCPA VIOLATIONSThe Securities and Exchange Commission today announced that two former executives at Hungarian-based telecommunications company Magyar Telekom have agreed to pay financial penalties and accept officer-and-director bars to settle a previously-filed SEC case alleging they violated the Foreign Corrupt Practices Act (FCPA). Magyar Telekom paid a $95 million penalty in December 2011 to settle parallel civil and criminal charges that the company bribed officials in Macedonia and Montenegro to win business and shut out competition in the telecommunications industry says local business lawyers. The SEC’s complaint also charged the company’s former CEO Elek Straub and former chief strategy officer Andras Balogh with orchestrating the use of sham contracts to funnel millions of dollars in corrupt payments. The two executives were set to stand trial this month. Straub has agreed to pay a $250,000 penalty and Balogh has agreed to pay a $150,000 penalty. Both executives agreed to a five-year bar from serving as an officer or director of any SEC-registered public company. The settlements are subject to court approval. “The executives in this case were charged with spearheading secret agreements with a prime minister and others to block out telecom competitors,” said Stephanie Avakian, Acting Director of the SEC’s Division of Enforcement. “We persevered in order to hold these overseas executives culpable for corrupting a company that traded in the U.S. market.” A third Magyar Telekom executive charged in the SEC’s complaint, former director of business development and acquisitions Tamas Morvai, agreed to a settlement that was approved by the court in February requiring him to pay a $60,000 penalty for falsifying the company’s books and records in connection with the bribery scheme. Free Initial Consultation with SEC Lawyer in UtahWhen you need help from a Utah SEC Lawyer, call Ascent Law for your free consultation (801) 676-5506. We want to help you.
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Fighting the Lure of Tax Havens Steps to Take Before Separating From Your Spouse via Michael Anderson https://www.ascentlawfirm.com/sec-names-deputy-chief-accountant/ As you go through a divorce, there’s a good chance you will come across some legal terminology with which you’re unfamiliar. The following are a few common examples:
How Long Must I Pay Child Support?In Utah State, generally, a child must be supported until the age of 21. However, there are a number of exceptions to this rule. When a child has not reached 21, but is supporting himself or herself, or is in the military or has married, the obligation to pay child support ends. Another situation that may merit the cessation of child support involves children between 17 and 21 who are on their own and not under the control of parents. Once child support is ordered, the paying parent must continue to make payments for as long as the order is in effect. It is important to note that any agreement that the spouses come to either increasing or decreasing the amount of support without the approval of the court is not enforceable. This means that if you and your spouse verbally decide to lower the amount you pay, and at some point your spouse decides to file for the amount originally ordered, the court can order you to pay the original amount ordered, in spite of your verbal agreement to pay less. Similarly, if you voluntarily decide to pay more, and then drop back to the original support amount, your spouse needs to seek court approval of the increased amount to guarantee receipt of that amount. Support orders can be modified due to changes in circumstances so do not hesitate to seek out the advice of a lawyer. Some Tips to Help You Deal with the Emotional Aspects of DivorceDivorce isn’t easy on anyone, and you may be feeling many different emotions as you work through the process. There will be good days and bad, and sometimes it may feel like it will be impossible for you to move on. However, if you take some time to reflect, you will likely find you are indeed capable of starting a new life and having a positive future. Here are a few tips to help manage the emotions of getting divorced:
Free Consultation with Divorce Lawyer in UtahIf you have a question about divorce law or if you need to start or defend against a divorce case in Utah call Ascent Law at (801) 676-5506. We will fight for you.
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Common Misconceptions Regarding the Divorce Process in Utah Overview of Family Law and Divorce Cases in Utah Divorce vs. Legal Separation in Utah Divorce Lawyer in Salt Lake City Utah Michael R. Anderson, Utah Divorce Lawyer via Michael Anderson https://www.ascentlawfirm.com/divorce-terms-to-know/ What are the rest of the lawyers going to do? What about the other 95 percent of trial lawyers who are not so great and not such good lawyers? How is a lawyer who is not at the top going to feed his family? His chances of getting your case against Exxon-Mobil are about the same as hitting the lottery. Many of my friends are personal injury attorneys and as a The lawyer is willing to gamble that by filing a case he will be able to squeeze a settlement or play “lawsuit roulette” with the jury. Just like the population in general, from whom they are drawn, jurors can be confused and misled by emotional and irrational arguments. Experiments in human behavior show that most of the time individuals are unable to distinguish the truth from a lie. When asked to distinguish truthful from untruthful testimony based upon the demeanor and expression of the witness, in a majority of cases, the subjects in the experiment incorrectly identified the lie as the truth and the truth as the lie. The conclusion of the study has frightening implications. Jurors are more likely to believe a witness who is lying than one who is telling the truth. This phenomenon has been understood and exploited for years by political leaders and others with a message to sell. A lie that is repeated forcefully and with conviction becomes accepted as truth. Think of the Nazi propagandists and the McCarthy type demagogues who convinced millions of people of the “truth” of their cause. More recently, public hysteria over so called “death panels” illustrates the relative ease with which fear and irrationality can be heightened and manipulated by skilled politicians to influence the outcome of the public agenda. Advertising messages repeated often enough are believed, regardless of the merits of the product and despite overwhelming evidence to the contrary. That’s the foundation of the advertising industry and is the basis on which political leaders and corporate interests present their programs. In the same manner, a lawyer attempts to “sell” his case to the jury. Facts are distorted. Lies, half-truths, and perjured testimony are zealously advanced on behalf of the “injured” plaintiff. If things go right and the lawyer gets lucky or knows what he is doing, the jury will reward these efforts with a judgment for several hundred thousand or maybe a few million dollars. Every day in court a sympathetic plaintiff prevails against a wealthy or comparatively wealthy defendant— even in those cases which appear to be absurd, illogical, and utterly without merit. Any lawyer who is still in business after a few years of practice has learned that the unpredictability of human behavior can be used to his advantage. The uncertainty of the outcome creates a potential risk of loss for even the most “innocent” defendant. Lawyers know that for most people the risk of financial loss also creates a highly uncomfortable level of emotional strain. If you have ever been sued—no matter what the cause—you understand that the unpredictability of the result and the possibility of economic loss can generate a severe degree of stress and emotional charge. Free Initial Consultation with Trial Lawyers in UtahIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
via Michael Anderson https://www.ascentlawfirm.com/trial-lawyers/ It may be tempting to rush into a separation when you feel your marriage is not going well. However, there are a few steps you should take before the separation to ensure you protect your own interests. Here are a few of those steps:
It Is 10:00 p.m. — Do You Know Where Your Spouse Is?Your spouse leaves the room each time the cell phone rings, and it rings a lot more lately. She works late a couple of times a week. Or, he takes care of the bills now, when you used to do them together. Another business trip? Although Utah now has no-fault divorce, fault such as adultery can be used to influence settlement negotiations, or it can be considered by the court when making property or custodial decisions. Spouses suspicious of their partners have never had it easier — whether by making use of devices like global positioning satellite (GPS) devices placed inside the family car, or snooping through electronic communications on cell phones, computers and Facebook. The problem with looking for evidence of infidelity is the possibility of finding what you were looking for. Before you buy a GPS unit for this purpose, and before you invade the presumed privacy of your partner’s electronic files — think about what you will do if your gut instinct proves true. The suspicion alone is evidence that speaks to the condition of your marital relationship. Free Consultation with Divorce Lawyer in UtahIf you have a question about divorce law or if you need to start or defend against a divorce case in Utah call Ascent Law at (801) 676-5506. We will fight for you.
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
Parents Rights Custody and Liability FINRA Fines Deutsche Bank Securities Fighting the Lure of Tax Havens via Michael Anderson https://www.ascentlawfirm.com/steps-to-take-before-separating-from-your-spouse/ Naturally enough the high tax countries are not happy to see resources and tax money flow out of the country. As a tax attorney, I can tell you that there are huge government bureaucracies to maintain, expensive new weapon systems to be developed, and social programs to be financed. The top priority of every government is generating funds to carry out its policies. Every high tax country, with greater or lesser degrees of success, attempts to thwart the powerful and seductive appeal of the tax havens. At least for now, the tax havens appear to be winning the war for the hearts and the wallets of the citizens of the world. The difficulty faced by the high tax forces is that it is impossible to physically block the flow of funds from one country to another. Money moves electronically, at the speed of light, from bank to bank. Every hour of every day trillions of dollars and francs and yen are shifted instantaneously between banks in every part of the world. Governments themselves use these electronic transfer systems to make purchases, pay debts, and settle accounts between each other. Shutting down this free flow of money around the world would seriously impair international commerce and economic life as it exists today. The best that the high tax country can do is attempt to gather information from within its banking system about capital movements by individuals. This is not an easy task. On its face, a legitimate business transfer to an overseas account looks no different than a tax motivated transfer. For example, bank records in the home country may reveal that money was transferred from a domestic bank to a bank in Luxembourg. Whether this transaction was a normal business transaction or part of a scheme to avoid taxes cannot be determined from the record of the transaction itself. More information is needed to determine the true character of the transfer. Officials in the home country can question the individual, but it is unlikely that this would be productive. What they would like to do is trace the money to see whether its uses are legitimate and whether the proper taxes are paid to the home country. But now the tax haven country stands up to do its job. Officials in the home country as well as international tax attorneys say that they’ll be denied access to information about the funds and their recipient. Secrecy laws prevent disclosure of account information by the recipient bank. Home country tax officials must attempt to develop their case without the cooperation of the tax haven authorities. Sometimes the funds are moved rapidly through a series of banks in different jurisdictions, but this is only necessary when there is some doubt about security at the initial recipient bank. Nations can and do make treaties with each other to exchange information, assist each other in law enforcement, and provide for convenient tax administration. But these treaties are generally between high tax countries with similar economic interests. The United States has an extensive network of treaties with the western European countries allowing for a mutual enforcement of judgments, minimal trade restrictions, and a comprehensive tax program for international transactions. The high tax countries have a mutual interest in cooperating with each other. Tax haven countries, as a rule, do not enter into treaties which would impact their special services. The greater the level of cooperation with the high tax countries, the greater the impairment of its usefulness as a tax secrecy haven. Even when there is agreement for some form of mutual assistance, disclosure of information is limited to severe and enumerated criminal offenses. Tax violations are not included in this category. The high tax countries are frustrated by their inability to restrict the natural flow of currency and tax dollars from high to low tax jurisdictions. This frustration inevitably leads to greater restrictions on freedom and privacy. Governments always want more disclosure and more reports about financial transactions to bolster their investigative powers. Sometimes the information which the government seeks is intended to protect legitimate interests in tax revenue and currency value. But too often, throughout history, we have seen that the government’s purpose in gathering information is to increase political power, carry out surveillance of political enemies, suppress dissent, or conduct any number of abusive activities against its citizens. Governments want information about their citizens, and citizens want privacy and protection from the exercise of any government authority which threatens their financial security and accumulated wealth. The offshore havens satisfy the demand for financial privacy and security with a powerful arsenal of products designed to accomplish these specific results. Free Consultation with a Utah Tax AttorneyIf you are here, you probably have a tax law issue you need help with, call Ascent Law for your free tax law consultation (801) 676-5506. We want to help you.
Ascent Law LLC
8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
Ascent Law LLC
4.9 stars – based on 67 reviews
West Jordan Utah Adoption Lawyer via Michael Anderson https://www.ascentlawfirm.com/fighting-the-lure-of-tax-havens/ |
Probate LawyerProbate Lawyer in West Jordan Utah. If you need probate lawyer, trust attorney, inheritance counsel, living trust, last will and testament, call 801-676-5506 now for a free consultation. Archives
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