Pharos Law Podcast

Aren't verbal agreements enforceable? The short answer is yes (sometimes).  Verbal agreements can be legally valid, but enforcement of the same is often quite difficult.  Therefore, in most business transactions, you will not want to rely on a verbal agreement. 

Why would a single member (owner) need a rulebook for only himself or herself? Fair point.  However, please remember that an LLC operating agreement is more than just a rule book for the LLC.  Also, keep in mind that the business will hopefully grow and expand over time. Foundations are best laid in the beginning.

In this era of on-demand services, we find that many people expect the same from their professional advisors and other service providers. While this may be nice in some respects, the "I want it now" mentality is unreasonable and can lead to many bad results for the client and for the professional.  It's time to realize that life is not just one big McDonald's drive-through. 

"Discourage litigation.  Persuade your neighbors to compromise whenever you can.  Point out to them how the nominal winner is often the real loser--in fees, expenses and waste of time." In this episode, we discuss this truth from Lincoln and share an example of litigation which proves the same point.  We would all do well to read and listen to Lincoln far more than we do. 

It is rarely wise to give highly appreciated assets away to individuals during life. Rather, such transfers are best done via estate planning, when possible, in order to save on capital gains taxes.  This episode explores such matters.

Why is there so much fraud and dishonesty in the business world and in society in general? What do the likes of Adam Smith and Immanuel Kant have to teach us? What can be done? We explore these subjects in this podcast.  

No. Chapter 11 bankruptcy is more like major organ transplant surgery (when all goes according to plan) and does not necessarily mean the end for a company. 

"Those who know do not speak.  Those who speak do not know." Its time that we stop acting like there is something wrong with being an introvert. Better understanding introverts--who they are and why they are this way can help in this process.     

There are many myths related to estate planning. This is the fourth of four, and final (for now), episode discussing some of these myths and the realities related to the same.

There are many myths related to estate planning. This is the third of four episodes discussing some of these myths and the truths related to the same. 

There are many myths relating to estate planning.  This is the second of four episodes on the subject of such estate planning myths and the realities behind (usually in contrast with) such myths.  

There are many myths related to estate planning.  This is the first of four episodes discussing such myths and the realities related to the same.

Proper funding of a trust at the outset and maintaining correct asset funding over time is essential.  Otherwise, an empty trust can be as useless as an empty barn.  

Rather than choose between using a Will or a Trust, most often your best course of action will be to use both.  

I once paid a lot of money for Oakley sunglasses.  At the time, it seemed like a foolish purchase.  However, those sunglasses have proved to be perhaps the best investment I ever made.  There are important life lessons related to my Oakley sunglasses.  

James Madison and Alexander Hamilton were once close political allies when then turned into bitter rivals. But their wondrous Constitution and the government it formed continues to function quite well today, even amid partisanship and extreme political views. In truth, the wonder of the Constitution is more apparent two centuries after the Federalists pushed through its ratification.  

Some of the most frequent questions for attorneys from business owners, as well as online searches by same people, relate to asset protection concerns.  A little common sense and some basic steps can go a long way to provide such desired asset protection. 

Yes, but if you are asking this question, you likely want to know more about the subject.  This episode examines the E-SIGN act and how it has changed the landscape of the business and legal world.  

If you meet an attorney claiming to know THE LAW, find a different attorney.  There are many misconceptions in the world of lawyers and law stuff.  One of the most prominent is the mistaken belief that just because someone has passed a bar exam (or several), that person is then an expert in all things legal.  This is not realistic or even possible.  This episode briefly discusses more on this topic and we delve into a few "secrets" relating to THE LAW. 

This episode covers the WHO, WHAT and WHY for the podcast.  This seems like a good place to start.  Updated 9.4.17