In our previous blog post, we discussed the power of the LLC. This business entity is known for being one of the most flexible business structures among business owners. To reiterate some of the information shared regarding this business structure, an LLC or a limited liability company is an entity that has the qualities of a corporation and benefits of sole proprietorship. The key component of this type of business structure is the liability protections that it affords its members and other agents operating under the business. In this blog post, we will discuss another business structure gaining traction in the business world – the series llc. The liability protections are the same, the difference is this structure allows you create other business ventures under your LLC, without any additional filing fees or formation documents. .

A series LLC is a business structure that is controlled by a principal or master LLC (parent company). under this major LLC are other LLC business structures called series. This is a more condensed definition that is much easier to understand for the purpose of informing individuals who are pursuing certain business structures, such as a Series LLC.  However, even after you read this blog, we encourage you to hire a knowledgeable business attorney to assist you with forming your company.

LLC vs Series LLC

As you may already know, there are differences between an LLC and a series LLC. When you are comparing and contrasting these two distinct business structures, a prospective business owner must decide which of these entities will benefit the future success of his or her business, and also how this certain business structure will benefit an owner in personal ways. When it comes to comparing these structures, what is similar is the personal liability protections that are given to them. Having a liability protections is what makes the limited liability business structure so attractive to many business owners. The last thing you would like as a business owner is a lawsuit on your hands. As we have previously discussed in other blogs, having the possibility of being sued is perhaps the most unfortunate and inconvenient of circumstances. Having this problem on your shoulders can interfere with your everyday business activities and can also have a profound personal effect on your estate. Thankfully, both of these business structures have these essential liability protections.

What makes the LLC and series LLC different from each other is the ability to separate your assets (and liabilities) from each venture operating under the parent company. For example, if you are a business owner who is in charge of certain commercial properties, and if you are sued for endangering the safety of clientele for example, then the possibility of these assets to be at risk dramatically increases. This is especially true if all assets are under one LLC. Remember, you the owner, won’t held responsible (granted the incident isn’t related o fraud or misuse of funds). The LLC will. Therefore, those business assets can be at risk. Here is where the power of the series LLC comes. You can create a series LLC, and under the principal LLC, you can separate each asset. If you are sued, individuals or other entities can only go after the assets of that particular commercial property that caused them harm. The other properties, or assets, are their own LLC. Therefore, the other assets are protected from a lawsuit.

Holding Company vs Series LLC

A holding company and a series LLC both are structures that are popular due to the ability to protect and separate assets. For corporations, it has been the go-to choice. There is a certain disadvantage that might change the perspective of many future business owners. Although a holding company has the benefit of separating and protecting assets, the separations aspect of a holding company can become complicated. Let us explain: A holding company is created by establishing a parent company, and below the parent company, you will have its subsidiaries. These subsidiaries are completely separate legal entities that are owned, not by the parent company in many cases, but other entities as well. The holding company structure is traditionally maintained through the creation of separate business structures, such as other LLCs and corporations. This means a lot of paperwork! In order to operate under a successful holding business structure, you must make sure that all administration and operation duties where followed thoroughly. Because all entities were separate from each other, they had to require separate administrative duties. This can become a bigger hassle if there are international business operations. Holding companies take seriously the aspect of separations of assets. When it comes to the series LLC, the administrative duties are, fortunately, more manageable to perform.

Who might consider forming a Series LLC?

Let’s provide a quick example that illustrates how impactful a series LLC can be.

Michael has recently established a series LLC business. He now owns 4 homes. How did he decide to establish a series LLC? A business law attorney gave him the guidance he needed to come to the conclusion that he needed to establish a series LLC. See, Michael had an associate that experienced the loss of his assets, and that included 2 rental properties. A renter and his family experienced physical injury when it was discovered that air filters were not working properly and were not up to date. Their physical injuries came in the form of breathing problems. This renter sued Michael’s associate, and because his associate had both of his rental properties under one LLC business, Michael’s associated assets were gone. His business assets were gone because of the severity of the damages that were inflicted on the tenants.

This means the two properties that Michael’s associate had to be sold in order to follow through the financial compensation that was ordered because of the lawsuit. Michael did not want to experience this. His attorney recommended him to create a series LLC, where his 4 homes will be separate LLCs. Michael decides to place his 4 homes in the market as properties for rent. Because his commercial business is a series LLC, he will not worry about experiencing the same fate that his associate had. He will also make sure to follow all regulations that are needed to be met in order to avoid any potential lawsuits. Even if there is a possibility of a tenant suing him, the tenant can only go after the property in which the damage was created. Michael was thinking about creating a series LLC business, but he needed the advice of an attorney to confirm that he was right in creating this business structure.

Benefits

The benefits of establishing a series LLC have an incredible impact on the business and its owner. As we have discussed in this blog, one of the benefits of having a series LLC includes a more manageable administration of a business. It is less complex than to operate a corporation or any other similar business structure such as a subsidiary. We know how important it is to have a manageable administration. It saves business owners time and operating costs in the long run. Speaking of operating costs, it can save on your investment expenses when establishing this structure. Establishing a series LLC has a reduced startup cost in comparison to other structures. Perhaps the most important benefit in creating a series LLC is the protection and separation of assets. If you are sued, individuals or other entities can not go after your assets that belong to other cells of your series LLC. In a regular LLC, you may have to create other separate LLCs to have the same benefits, but that means you will have different tax returns, different financial accounts, and extra administrative work. Regarding taxation, another benefit of creating a series LLC is that the principal LLC is only required to provide a tax return, and that includes your LLCs from other cells. We understand that dealing with taxation responsibilities can be a daunting task. To ensure that you are taking responsibility of your taxation needs, consult with a professional that has series LLC business tax expertise.

Drawbacks

Although a business owner can file one single tax return under the principal LLC, there must be separate accounting for each different cell that is part of the series. That is why it is very important for a business owner to consult with a tax professional that has a significant amount of experience in administering series LLC tax returns. Having multiple cells can mean many hours spent in making sure you have the most accurate financial statements to help you have an accurate tax return. Another drawback that should be discussed regarding this business structure is that it may be difficult to create a series LLC if your state does not allow for prospective business owners to create this structure. The states that do allow for such business structures to be established include Delaware, Illinois, Montana, Nevada, and Texas. Your series LLC business can provide services to clients/customers from other states, but if a state does not allow for individuals to create a series LLC, an incredibly high operating charge can be placed on the series LLC business owner from a different state. Lastly, the topic of bankruptcy comes into play. Many courts may not know how to establish certain proceedings when dealing with multiple LLCs because of how new the series LLC structure is. This can result in the courts not being able to understand how to manage each and every individual LLC that is part of the overall series LLC. A court must understand this business structure in order to provide a positive outcome for the individual or entity that is seeking bankruptcy relief.

Forming a Series LLC in Texas

According to Texas law, a series LLC is defined as an LLC entity that states in its governing documents that managers, members, assets, and membership interests have rights, liabilities and other privileges that are separate from the principal LLC. Certain privileges that traditional LLC has can be also found within a series LLC structure. These include the ability of joining a contract, sue a company or an individual but also be sued, take control of a title, give assets interests or liens. If you would like to form a series LLC in the state of Texas, the law states that you should consult with an attorney. We highly recommend that you seek legal counsel that has the expertise and the knowledge necessary to help you establish this form of business structure. The Secretary of State does not specify a certain certificate of formation. Certain series of LLCs are permitted to use specialized names, structures, and assets through a single filing. Under Texas law, specifically, the Texas Comptroller will treat a series LLC as a single entity. You will have to register your business with the Secretary of State as a single entity but you will only need to file with this office once. An annual fee must be paid to a registered agent if you wish to operate your series LLC in Texas.

Next Steps…

If you are looking for a business structure that gives you the ability to have multiple assets under one single organization then consider forming a series LLC. This structure is perfect for business owners who have multiple business dealings and ventures. Business owners that have multiple enterprises may face different obstacles that other business owners that only operate one enterprise. For the business owners that have just one business, it is already a challenge to manage employees, administration duties such as legal and accounting, as well as everyday operating responsibilities. For a business owner that has multiple enterprises, this challenge can increase. It takes an incredible ability, personality and intellect to be able to have a variety of businesses. You may think that you can administer all of your businesses, like in the case of other business owners of this nature, but there is an easier way. For those who are embarking on multiple business ventures, consider establishing a series LLC. You will gain liability protection not only for yourself, but it will protect your other business ventures in a way that will help you gain peace of mind.

If you are looking to establish a series LLC, we would like for you to speak to one of our representatives from the Law Office of Yates and Associates. We will discuss in further detail and establish whether you should choose to create this form of business structure. Contact us to get started in your journey in becoming a business owner. 

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Who should consider an LLC?

Let’s provide you with a scenario that is very common among future business owners: Michelle recently graduated from a massage therapy program. Although she received multiple job offers upon graduating, she has decided to open her own business. She believes that opening her own company will provide her with significant financial independence. Here is the thing: She is not doing it alone. Two of her fellow massage therapy friends from school wanted to find success on their own terms as well. Michelle and her two associates decided that opening a business was the best way to obtain the success they have always wanted. They needed to choose whether they want to open a general partnership or an LLC. They discussed in great detail their concerns about opening a business that involved multiple people. Michelle then later remembered that one of her family members was affected by certain business dealings that affected not only his overall business but his personal assets as well. He had to give up some of his personal assets in order to compensate stakeholders due to a lawsuit. Michelle certainly did not want to face what her relative experienced. Coincidently, Michelle’s two friends also had similar experiences with family members regarding business matters. They also knew that the services they provide as massage therapists could make them more vulnerable to certain liabilities. They concluded that forming an LLC was the best route for them to take.

If you are opening a business that has multiple partners and if you are going to create a business that can potentially be more susceptible to lawsuits, consider forming an LLC. Below are some of the benefits and misconceptions about an LLC:

Benefits

Business Structure and Separation

As stated before, one of the most essential benefits of opening an LLC business is the separation of business assets and personal assets. If any entity sues, then the only assets that a certain individual, business, or any other organization can go after are the assets of the business. Also, the business structure itself is so popular to form because it offers incredible flexibility to the point where you can make your own rules and create your own operating agreements. It is easy to establish and does not require as much paperwork as other entities such as corporations, which makes an LLC more affordable and easier to operate.

Personal Protection

There is a reason why LLC stands for a limited liability company. Any financial or legal mistakes that any of the other members of a company creates that causes a lawsuit will not fall on your hands. They are responsible for their own actions. Although you may be a part of the business, any of the assets that entities will try to obtain are only business based. What that means is your personal assets such as your investment, retirement, and savings accounts will be left intact. This will certainly provide you with much-needed peace of mind. Also, if you will like to protect your personal assets even further, you can create an LLC to protect your estate. An LLC for your estate will protect you from creditors, lawyers and costs that may come about, such as costs related to court procedures.

Credibility

There is a certain amount of credibility that LLC can bring to your business. Many individuals will see that you are an established business entity that will serve the needs of customers, employees and other important stakeholders. The best way you can add credibility to your organization is by incorporating the LLC abbreviation in your business name. This will create a positive impression on the audiences and other important entities that you are trying to reach. In Texas, it is required to have the LLC abbreviation in the name of your company.

Tax Benefits

Taxes are a part of any business entity. There is a difference when it comes to an LLC. When you establish an LLC, an important tax benefit includes being taxed just once. When you file your individual tax returns, you can report your business profits on this single tax form. This is known as pass-through taxation. When you establish other business entities such as a corporation, you won’t be able to avoid double taxation. This means the profits of the corporation are taxed prior being provided to the owners of this business entity. Once owners file individual taxes, these profits will also be taxed once more.

Misconceptions

No employees?

Because having an LLC business brings many legal protections based on liability, it does not mean that this business structure is meant for everybody. An LLC is beneficial if you have multiple members. If you are the sole employee and business owner, is it is much more cost effective to create a different form of business such as a sole proprietorship. You will save so much more in formation fees and registration fees that have to spend in order to maintain your LLC status.

Limited Liabilities, not No Liabilities

Limited liability does not mean total protection. The protections that are offered by this business apply when you and other members of the business have certain mishaps regarding investments. If you or other members of the LLC committed an inappropriate action such as misuse of funds and fraud, you will not be protected under limited liability and will be completely liable for these acts.

Forming an LLC in Texas

If you are considering forming an LLC business structure in the state of Texas there are certain steps that must be made. Thankfully, it is a fairly simple process. Although this may be the case, you must follow these steps accurately and in an orderly way in order to avoid any concerns that may arise. These steps and actions that are required on your part include creating and choosing a name for your business. In Texas, you must include “LLC” in the name of the business. You will also need to file a Certificate of Formation, also known as Form 205. The fee for this file is $300 if you are a for-profit company. You will also need to name a registered agent in order for the individual or entity to receive important correspondence such as tax information, lawsuits, pertinent information from the Secretary of State offices, and other significant correspondence that involves your business. Other important actions include obtaining an Employment Identification Number from the IRS, EIN for short, as well as creating an operating agreement. For more information on forming an LLC, speak to one of our representatives from the Law Office of Yates and Associates.

PLLC (Professional LLC)

An LLC is not so different from a PLLC. They both enjoy the tax benefits and personal asset protections, as well as liability protections regarding the investments that members contributed to the company. The key difference is that only certain individuals can create a PLLC. These individuals must be professionals. Each state has its own definition of what a professional is. In Texas, the list of professionals that can create a PLLC include lawyers, doctors, veterinarians, accountants, and architects. Creating a PLLC does not mean that any of these professionals are not liable for their own malpractice. It does, however, in most instances, protect individuals from the liabilities of the other professional members of the business. Although this is a great benefit to have, it is recommended that professionals obtain malpractice insurance in order to obtain the most protection possible if certain legal actions come about. This will help professionals perform their duties with ease. These professions come with a certain level of prestige. These professionals obtain such prestige because they are able to create a lasting effect on members of society. Each of these professionals carry an immense responsibility because of their significant influence. Any mistake, even if the certain professional was not responsible, can create a negative effect. Thanks to a PLLC, these individuals can obtain a level of comfort and protection from liabilities that can impact their careers in more ways that one.

In Short

Running a business is no easy task. There are many entities that you have to be concerned about. These include employees, customers, investors, and other businesses. All of these entities play a significant role in the success of a business. Each and every day, business owners are concerned with the daily operations of a business, and they must be able to remain in a positive state in order to fully be able to tackle any issues that may arise in any given day. These immense responsibilities can create a certain level of stress. This level of stress can intensity if certain things go wrong. Perhaps a customer is unhappy with the service or product or certain investor relations go sour. This can open up to potential lawsuits. As we have mentioned, the stress that lawsuits can bring can be exhausting. This added stress can potentially have a negative effect on your business and your personal well being. Thanks to LLC and PLLC organizations, you are able to reduce the possibilities of being held responsible for certain liabilities, while enjoying other benefits that can create important savings for you and your business. In our next post, we’ll discuss the benefits of another significant LLC entity, the Series LLC. This LLC involves one main LLC and other multiple LLCs that act as separate identities, so stay alert for this blog. You may find that creating a Series LLC will provide exceptional benefits as a business owner. 

Ready to Get Started?

If you are considering opening a business, and would like to obtain the most financial and legal liability protections that you possibly can, consider forming an LLC or PLLC. The professionals at the Law Office of Yates and Associates can certainly help you decide if opening an LLC or PLLC is the right one to make. To speak to one of our associates regarding this business structure, simply click here to get started.

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Although they are facing certain obstacles, many are looking for ways to create long-term financial opportunities for themselves and their families. The millennial age group, or any other age group that was affected by an economic downturn for that matter, are turning to entrepreneurship to combat their financial difficulties. Becoming a business owner can provide many opportunities for those who are prepared to enter desired markets. Job security and stability are the most prized benefits that one can obtain through entrepreneurship. There are many forms of businesses that individuals can choose from, but they must do so wisely.

Below are the most prominent business entities that persons can form.

The Basics

Sole Proprietorship:

A sole proprietorship is an entity that is operated and controlled, in most cases, by one individual. This person oversees the entire enterprise.

Advantages

• This type of business is simple to establish.
• The individual has complete control of the business.
• Tax payments are not as vast as other forms of business.

Disadvantages:

• The individual in charge is entirely liable for debts and financial duties of the business.
• Investors may not be willing to invest in this type of business as others.

General Partnership:

A general partnership is an entity that is operated and controlled by two or more individuals. These individuals are responsible for the function and success of the business. Each of these individuals contributes to the success of this form of business through specific skills sets, financial investments, as well as labor.

Advantages:

• The taxes that come with operating this form of business can go through each partner. The profits and losses of the company are reported on each individual’s income tax returns.
• A general partnership is easier to establish than other forms of businesses. There is not a lot of paperwork involved when developing a general partnership.
• The fact that there is another individual that is helping run this form of business is an added benefit. This adds additional manpower by having a different perspective on how to run the business. This can become a powerful asset when a business is facing particular difficulties.

Disadvantages:

• Each partner is responsible for the liabilities and financial obligations that come with running a business.
• There is a significant increase in disputes and conflicts if there are disagreements between partners.

Limited Liability Company:

A limited liability company or an LLC is similar to a general partnership. The significant difference is that an LLC protects a partner from any liabilities that can occur, similar to what a corporation offers.

Advantages:

• The assets of partners are protected when faced with liabilities or any other concerns that the business is experiencing.
• Each partner can report profits and losses of the business through each partner’s individual income tax returns.
• An LLC has a better opportunity in obtaining loans for the business to operate than other business entities.

Disadvantages:

• An LLC does not last forever. When a partner leaves the company, the business entity is no longer able to operate.
• Profits can be taxed. LLC members must pay self-employment taxes, which includes Medicare and Social Security taxes.

Corporation:

A corporation is a legal entity that is separate from business owners. The legal entity operates the business and has certain responsibilities that it must follow in order for the company to function effectively. Shareholders own this entity.

Advantages:

• If a corporation faces certain difficulties, usually financial ones, owners of a corporation are not liable. Their assets are protected through liability protection.
• If major shareholders are no longer part of a corporation, the business entity can continue its operations for as long as it would like.
• A corporation can raise funds through the selling of shares.

Disadvantages:

• A corporation has many rules and other forms of regulations that must follow. Each state as different sets of regulations, so owners are highly advised to acquire assistance to be able to understand how to operate a corporation without running into any issues.
• Government entities monitor corporations, so owners must be able to operate their businesses effectively in order to avoid legal issues.
• Corporations usually require a certain amount of time and funds in order to be formed.

Limited Partnership:

A limited partnership is generally made up of a general partner and a limited partner. A general partner is responsible for managing a business, as well as sharing profits and losses. Although a limited partner is not responsible for managing the company, he or she not only shares profits but is also only liable for the losses regarding their investments.

Advantages:

• Establishing a limited partnership is typically more cost-efficient than establishing other business structures such as corporations.
• Pass-through taxation is available for limited partnerships, just like other similar business structures. Partners can report profits and losses on their individual income tax returns.
• Investments are made easier because of the liability protections that this business structure establishes.

Disadvantages:

• The general partner usually carries the most responsibilities. Therefore he or she is more susceptible to the liabilities that a business can bring, such as debts and financial losses.
• A limited partnership becomes extinct if a partner leaves the organization.

Limited Liability Partnership:

Similar to a general partnership, the difference is that within this business entity, a partner is not responsible for the other partner’s liabilities.

Advantages:

• The number of partners that can be part of this form of business can be unlimited.
• There is an incredible amount of flexibility that can be found in an LLP. Partners can contribute to the operation and function of the business in whichever form they deem fit.
• Just like other partnerships, partners enjoy liability protection. They are not held accountable for the debts and expenses that other partners have created.

Disadvantages:

• Many states do not recognize LLP entities. This can create certain tax limitations when creating this form of business.
  Because partners do not have to disclose business dealings with other partners, this can create certain conflicts and misunderstandings.

Series LLC:

A series LLC refers to a business structure that allows the LLC to have multiple LLCs. For example, there is a principal LLC. This principal LLC controls or oversees the other, various LLCs. These LLC entities operate separately and posses liability protection from other LLCs.

Advantages:

• Assets of one LLC are protected from other LLCs that are facing liabilities.
• Establishing a series LLC is more cost-effective than forming a corporation.
• It is less complicated to operate a series LLC than it is to run a corporation with subsidiaries.

Disadvantages:

• The paperwork and management of a series LLC can become a challenge. Each separate LLC must have its own accounting.
• Not all states allow for the formation of series LLCs. States that permit this business structure include Texas, Delaware, Nevada, and Illinois.

Choosing the right structure for your business

If you are starting a business, there is so much that needs to be considered to efficiently create a business that will bring a significant amount of success to your life. Forming a company means knowing what business structure is best suited to generate profits and have minimal amounts of losses. Every single business structure has its advantages and disadvantages as we have just mentioned. You must think carefully, and analyze with high accuracy which structure is best for you and your goals. One of the most pressing concerns that most business owners face is based on the issues of taxation. Taxes can create a significant impact on the function of a business. There are business entities that can help owners manage and minimize taxation.

Another pressing concern is based on legal matters. There are business structures that are more susceptible to lawsuits and other liabilities. Other concerns that prospective business owners must consider is the amount of owners and the responsibilities that are given to them to operate a business. Also, administrative responsibilities that need to be followed for the business to continue to function. Laws and regulations need to be followed for a variety of business structures, and because of this, administrative duties must be completed with precision. These concerns are prevalent in all business structures, but certain structures can manage these elements of a business better than others. This is why we advise potential business owners to carefully analyze which structures are better suited to help their potential organizations maintain a level of harmony and experience the least amount of liabilities.

First Steps

Although prospective business owners may face certain hurdles in forming a business, once a wise decision is made, you can begin fulfilling the goals and aspirations you have set out to accomplish by becoming an entrepreneur. The first steps that must be made to establish an organization are filled with excitement, curiosity, and in many cases fear. Fear of the unknown is perhaps one of the main reasons as to why many individuals choose not to become business owners. We understand that making these steps are filled with uncertainty. You fear that your vision may not come to fruition. You may fear that the goals that you have set out to achieve may be stalled because any legal, financial, or administrative concerns that your business may face. You also perhaps fear that your business may fail. These are all legitimate concerns. When the correct advice and guidance is provided, the probabilities of your business facing such concerns are greatly reduced.

The Law Office of Yates and Associates is here to help you answer the questions that you may have in forming a business. If you are ready to make the leap in helping your dreams of becoming an entrepreneur turn into reality, don’t hesitate in contacting our associates to help you get started.

As we’ve mentioned, many individuals are turning into business owners in order to obtain a sense of autonomy. Although some may face certain uncertainties and concerns about operating a business, many take a leap of faith to achieve financial independence. When a business structure is formed correctly, the possibility of becoming financially independent is more likely. No longer will individuals fear that they may lose their employment because of layoffs or certain economic downturns. Being able to provide a great life to family and other essential individuals is undoubtedly a compelling reason as to why many choose the route of entrepreneurship. If you believe that a passion that you have may become an opportunity to start an enterprise, we will help you get started. It only takes the perfect structure to help transform your passions into a profitable and fulfilling business

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Getting into an accident is by far one of the most unfortunate experiences that individuals can have. Depending on the severity of an accident, it can leave them in a tough state. An individual can experience a vast range of damages, particularly physical and emotional ones. These damages can be life lasting and can have a tremendous effect on their day to day lives. Although many of these victims find themselves in difficult circumstances, they are still alive. For the most part, they can speak, breathe, eat, and be amongst their loved ones. They can continue with life and can adapt to the changes they’ve gained. Sadly, there are individuals do who pass away due to an accident, leaving loved ones behind. If an accident resulted in the death of an individual, his or her loved ones could potentially file a wrongful death lawsuit. 

What is a Wrongful Death Claim?

Persons can file a lawsuit on a wrongful death basis. Wrongful death refers to a person who has died because of the negligence and reckless behavior committed by another individual or entity. Through wrongful death claims, survivors can seek compensation for a variety of damages. The damages that survivors are suffering can come in many ways, but proving a wrongful death claim can become difficult. Also, there are statutes of limitations regarding such claims. In Texas, for example, a claim must be filed within two years of the event. Because of this, survivors must obtain a capable attorney that will fight to receive the compensation they are seeking. 

Most common Types of Wrongful Death Cases

Below are some of the most common types of wrongful death cases:

Car Accidents:

In Texas, there are about 15.8 million licensed drivers. With that incredible amount of drivers, it is to no surprise that car accidents are occurring almost every single day. Unfortunately, because there are accidents that are frequently happening, many untimely deaths can occur each year. Car accidents can result because of many elements. Reckless driving is atop of the list. The driver perhaps was speeding and could not stop quick enough to prevent an accident. Perhaps the driver was distracted because they were on the phone, or was distracted for any matter, which ultimately caused the accident. 

Construction, not following road signs or laws, and drunk driving also can play a part in the wrongful death of a person(s).

Truck Accidents:

Although trucks are technically considered vehicles, there is a key difference. Their impressionable size can play a major role in an accident. Because these vehicles are so large and can weigh so much, any other smaller vehicles with passengers are even more likely to experience significant damage. Not only can they be completely wrecked, but the individuals within the automobile can also suffer severe physical damage and death. Truck accidents can occur because the driver did not turn properly, the trucks experienced mechanical issues, and the trucks had a load of products or material that was too high for the truck to manage. 

Truck accidents can also occur if the driver was under the influence of drugs or alcohol as well as sleep deprivation. 

Motorcycle Accidents:

A motorcycle is certainly an alluring vehicle. They can maneuver effectively when average size vehicles like sedans surround them. You perhaps have seen how quickly they can move when you witness one operate on the road. As fascinating as they are, drivers of motorcycles can experience severe consequences on the road. Many accidents that occur relating to this vehicle occur because drivers could not see an incoming motorcycle driver when switching to a different lane. A motorcycle driver can be left with serious injuries, such as paralysis, spinal cord injuries, back and neck injuries, and ultimately injuries can result in death. Also, many accidents of this nature occur because of construction hazards and not following road laws and regulations. 

Medical Malpractice:

Many people confide in medical professionals such as doctors and nurses to cure them of their ailments. They are admired for their intelligence, their compassion, and their diligence to save individuals under tremendous pressure. Although these professionals went through years of training to get to the positions that they are, they can also make great mistakes when in contact with a patient. They committed an act in which they did not follow certain directions and procedures, like in surgery, they misdiagnosed a patient, or they did not provide proper treatment to a patient. Medical malpractice can come with serious consequences for these professionals if found liable for the death of a patient. 

Defective Products:

People consume a variety of products every single day. They perhaps take prescription or over the counter medication, they eat certain foods that are packaged, such as vegetables and canned goods. Parents go to a store or purchase products online in order to obtain toys for their children. We depend on transportation, such as cars and buses to take us to work, school and other places. Almost all of these products go through a series of testing in order to make sure they are not defective. Unfortunately, they are cases in which items of this nature do become defective, and they can bring serious consequences to consumers, and that includes death. A wrongful death claim can certainly be filed for these reasons as well. 

Workplace Accidents:

Work accidents occur frequently in many different industries. Although this is certainly the case, workplace accidents frequently happen in industries where there are significant amounts of hazards, such as the construction industry or any other industry where workers perform significant manual labor. The damages that victims of such accidents can experience are immense. There are industries in which workers are exposed to certain diseases or ailments which ultimately can result in death. There are accidents that also occur in the most unexpected of places, such as jobs that are office or administrative based. If a person was assigned to work in an unsafe area of an office, they can certainly experience an increased risk of injury that can lead to serious consequences. 

Burden of Proof

The success of a wrongful death claim depends on the evidence presented to the court. Plaintiffs must demonstrate that there is a preponderance of evidence. What this means, is that quality of proof is much more substantial the quantity of it. Because of this, it can be difficult to achieve a positive result in a wrongful death case if evidence and other material are not up to par. We cannot stress enough the importance of a qualified lawyer to help you navigate a process such as this. Through evidence and witness accounts, individuals must prove that there was negligence due the reckless behavior or certain carelessness that came from the defending party. Individuals must also prove there was a breach of duty. For example that if a driver was not able to drive according to the law, he or she might have breached the duty of driving safely in accordance road laws and regulations. Other aspects that individuals should prove to the court is that whether the injury that the defending party, because of their reckless behavior, caused the death. This is known as causation. You must also prove that the death of the victim created significant emotional and financial damage such as medical expenses and loss of income.

Potential Damages

The damages that can be awarded to survivors can be classified in distinct ways. One of the most common types compensation for damages that are awarded are economic or financially based. Since the victim is no longer present to pay for certain expenses, damages are awarded to protect the financial interests of loved ones. Some of the damages that are compensated and recovered include medical expenses, funeral expenses, loss of the victim’s earnings, any pension plans, and an inheritance. Compensation is also provided if the victim’s loved ones suffered emotional and mental damages. When a victim dies, loved ones can be left without their care and guidance. This can create a significant impact on the lives of the survivors which is why compensation for emotional and mental damages can potentially be awarded. Attorneys fees that survivors accumulated can also be covered with damage compensation. 

Survival Actions

Before a victim died of significant injuries, he or she perhaps sought to obtain compensation for the damages suffered. Because death eventually resulted, the victim’s loved ones can seek to obtain the compensation the victim wanted to acquire through survival actions. The surviving family members can file such claims alongside a wrongful death claim for the benefit of the family’s estate. Survival actions claims can be awarded and can be determined in a variety of ways, such as the amount of pain inflicted and the duration of suffering the victim endured.

As you can see, being able to successfully receive compensation through a wrongful death claim can be a challenge for many families and loved ones. But it is certainly nowhere near being impossible. Loved ones who are seeking justice through this claim need to be surrounded by attorneys that will fight to obtain every cent they deserve. We understand that it is extremely difficult for loved ones to be concerned with legal matters when in reality, these individuals would simply prefer to heal on their own and at their own pace. Unfortunately, this simply cannot be the case. Because there are statutes of limitations, loved ones have to act quickly in order to receive compensation for damages. Although you may seem that you are alone in this process, we assure you that you are not. We are here for you. We will fight until the very end in order help you get the justice you deserve. 

If you would like more information on filing a wrongful death claim, contact the Law Office of Yates and Associates to speak to a legal counselor at your convenience.

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When experiencing an accident, the last thing on your mind is perhaps hiring an attorney. You are partially right. One of the first things that you should do include filing an insurance claim, and most importantly, seeking medical help. If you have achieved doing these steps, then you are on your way to getting back to your everyday life. For other individuals, successfully executing these steps can become an obstacle. Since it can become difficult to obtain such resources, the guidance and services of an attorney become an instrumental part of having financial, physical and emotional relief. Some people forgo having an attorney by their side: that is their right. Although individuals may have such a right, we would advise them to reconsider such a decision. There are significant reasons as to why people who have experienced an accident need the counsel of a legal professional.

Below are some of the most central reasons as to why:

Can’t Determine Who’s at Fault?

Sometimes, it’s not easy to determine which entity is actually at fault for influencing an adverse outcome such as an accident. There are many different forms of accidents in which multiple parties can be found at fault for causing such events. What if there was an accident that occurred on the road? It sometimes isn’t easy to determine which party was at fault, especially if there was an accident where multiple cars were involved. What if you were working in an area where there was a significant amount of hazards present, such as a construction zone, then you were perhaps at high risk of suffering an accident. What if you were injured in such an environment? Can you accurately pinpoint the reasons as to why you were hurt? You can say that a specific object or material caused your accident, which is true, but have you ever questioned if this material was defective from the beginning? Not only can a manufacturer be found at fault, but the organization that provided such products can be liable as well. As we have mentioned, many parties can be found at fault for many forms of accidents, such as a defective item that caused significant injury or a motor vehicle accident. An attorney can help you determine with accuracy which parties can be found liable for your physical and emotional and financial damages.

Insurance payout doesn’t cover everything?

We have all heard stories about how insurance companies do not provide the funds necessary to help their clients obtain some form of alleviation for their damages. Many people have to fight tooth and nail to get the most basic form of relief. Some individuals can successfully file a claim with a just payout, but for many other individuals, the same cannot be said. If you believe you were not provided with just coverage for your damages, then hiring an attorney is something that you may have to consider if you would like to obtain the best coverage from your insurance company. Below are some of the ways attorneys can be of help to your insurance concerns.

Severe Injuries:

The injuries that come with experiencing an accident can become detrimental to the livelihood of the individual who suffered such misfortune. The physical trauma is simply overwhelming. The injuries that a person can experience during an accident are of a vast range. Minor injuries can include cuts and bruises, but the most severe of injuries can change the course of someone’s life. Some injuries can lead to paraplegia, quadriplegia, second and third-degree burns, and other critical forms of trauma. The emotional and mental effect of having such injuries can be detrimental to the health of the person who has suffered such injuries. Knowing that the person has to live for their rest of their with such injuries, will not only leave permanent physical scars but perhaps the emotional wounds that were created will not be able to heal as adequately. An experienced attorney will help individuals get the justice their deserve by knowing exactly how to combat insurance companies with the right compensation for the severe injuries a person has suffered due to an accident or injury.

Costly Medical Bills:

Did you know that one of the biggest causes of bankruptcy in the United States is due to expensive medical expenses? There is a sea of individuals in this country who need constant medical care. A lot of these patients require ongoing care not only because they have a chronic disease that was perhaps caused genetics, but by an accident or injury that an individual has suffered. Life changes when a person suffers an accident, but this is especially true if an individual has suffered life-altering injuries. Many Americans live in constant fear that their medical insurance coverage will not be enough to cover the medical expenses of injuries sustained due to an unfortunate event such as an accident. If you individuals believe that an insurance company is not providing the funds necessary to cover medical expenses, they will need to partner with an attorney that will fight to obtain the funds necessary to cover expenses for the duration of an injury, including funds to cover expenses for injuries that require long-term medical care.

Loss of Job or Wages:

Suffering an accident can lead to having injuries that can prevent many individuals from doing work related responsibilities. Not having the ability to work can bring negative consequences to the individual who has suffered injuries, especially if he or she has a family to support. Everything from a mortgage, rent, utility expenses, food expenses, and other costs that are needed to be made in order to live a productive life may not be made because an accident prevented them from returning to work. There is a significant amount of Americans that live paycheck to paycheck, and they cannot afford to miss a single day of work because if they do, the consequences can be great. This can worsen if an accident occurs. Many Americans do not have an emergency account, where they can live on those funds for several months without having a reliable source of income.

Because of this, the individuals who suffered an accident may find themselves in the most unfortunate positions. These individuals are already emotionally troubled because of the injuries they have suffered. The stress can become overwhelming when they know that they cannot work and provide an income to their households. This exacerbates their mental and emotional health. An attorney can fight for wages lost and will help individuals get the best compensation possible in order for them and their dependent loved ones to have peace of mind.

Need to go to trial or file a lawsuit?

Having an experienced attorney by your side is necessary to obtain the best judgment regarding a personal injury case. Many individuals believe that they are not in need of an attorney and that they can represent themselves in the court of law. This can be a costly mistake. Attorneys know how to navigate the court system more efficiently than individuals who are not trained in law. When it comes to personal injury attorneys, they know how to combat insurance companies, and can identify with great accuracy if their client is not being given the proper funds to help them with the injuries obtained in an accident. They know what to say, they know the legal terminology, the research skills, the oratory skills, as well as knowing how to draft proper legal documentation to increase the possibility of having favorable judgment in the court. Also, personal injury attorneys work under a contingency manner, meaning that attorneys only obtain an earning if a client wins their case. This means that individuals will not be held responsible for any fees that an attorney may charge. So, if cost was something that an individual would be concerned about when considering in hiring an attorney, they need not worry.

Because of these reasons, we believe that victims of accidents or any other injuries should consider having the best attorneys by their side to obtain the maximum amount of compensation if going to trial or filing a lawsuit becomes the most reasonable option.

As you may know, dealing with an insurance company can be a hassle. This is especially true if you know that you are not getting enough resources necessary to deal with injuries suffered. When you have done all that you could, and you no longer have the ability to fight insurance companies, you will need the help of individuals whose lives are dedicated in fighting for the rights of individuals who have suffered injuries in an accident of any kind, from a motor vehicle accident, to an injury occurred in the workplace. Knowing that you have someone by your side, that is fighting for your rights and compensation brings peace of mind. The difference between hiring and not hiring an attorney is simple: With the Law Office of Yates & Associates, you will not be alone in the fight of obtaining fair compensation. We will fight to obtain the best outcome possible for your personal injury case.

Now that you have an understanding on how essential having an attorney by your side is, if our advice solidified your need to seek legal representation for your personal injury case, contact us to see how we can help you obtain the compensation and justice you deserve.

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