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.