How South Carolina Courts View Covenants Not to Compete
On the surface, covenants not to compete look simple. One party agrees not to compete against another party – either by working for a competing company, or by starting their own competing company – for a specified amount of time [...]
What You Need to Know About Section 1031 “Like-Kind Exchanges”
Under Section 1031 of the US Code, you can sell a qualifying property, take the money from that sale, and buy new qualifying property of a “like-kind” without paying any federal income tax on the first sale. This is what’s [...]
How to Protect Your Interests With Enforceable Covenants Not to Compete
South Carolina is a state that values an individual’s freedom to work. Because of that, it does not look kindly on contracts that try to restrict a person from working. This can be tricky for employers trying to protect their [...]
Did You Choose the Wrong Business Type?
Picking what kind of business you’re going to be – “choice of entity” – is one of the first and most important things you do when you start a business. It’s an area where many business owners can get into [...]
What’s the Difference Between a C-Corp and an S-Corp?
Deciding what kind of entity you want to be is one of the first steps when creating a new business. If you’ve already decided that your business should be a corporation, rather than a limited liability company or something else, [...]
How A Buy-Sell Agreement Is Like Monopoly
Imagine sitting down with someone to play Monopoly, and it’s the first time ever for both of you. What do you do first? After you each pick a token – the top hat, the Scottie dog – you read out [...]
5 Ways A Business Lawyer Helps Grow And Protect Your Business
Business law, or corporate law, is the application of law to the business world. The two are completely intertwined at all times. For that reason, as a business owner you should plan to work closely with a business attorney throughout [...]
The Unintended Consequences of Bad Estate Planning
We always advise people to get estate planning done. If you don’t decide what will happen to your assets upon your death, the state will decide for you. But sometimes, despite best intentions, an estate plan turns out to cause [...]
What to Know About Estate Taxes for Estate Planning
An estate tax is levied on an estate of a certain value. Because the tax rate is so high – up to 40% – it’s smart to do what you can through estate planning to reduce or eliminate the likelihood [...]
What Happens if You Die in South Carolina Without a Will?
Updated February 2024 Less than half of US adults have a will, according to a 2021 Gallup poll – are you one of them? If so, you have committed Family Malpractice™, and you should know what happens to your estate if [...]
The 5 Essential Estate Planning Documents
When you come to Gem McDowell Law Group to work on your estate plan, we discuss five documents together: a will, a trust, a living will, a healthcare power of attorney, and a durable financial power of attorney. You may [...]
Should I Use LegalZoom to Create My Will?
Should you trust your estate planning documents to DIY legal sites like LegalZoom? Short answer: Probably not. Every person is different. Every family situation is different. And if you have children, you know that every child is different, too. DIY [...]
