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- Franchise Rule | BUSCHKIN LAW FIRM
Back FTC Franchise Rule The Franchise Rule gives prospective purchasers of franchises the material information they need in order to weigh the risks and benefits of such an investment. The Rule requires franchisors to provide all potential franchisees with a disclosure document containing 23 specific items of information about the offered franchise, its officers, and other franchisees. The Federal Trade Commission (FTC) Franchise Rule is a disclosure rule that requires a franchisor offering or selling a franchise located in the United States of America to provide the prospective franchisee with the relevant information about the franchise. Under Subpart B of the FTC Franchise Rule , the franchisor shall be in breach of the FTC Franchise Rule if it: (a) fails to furnish the prospective franchisee with the disclosure document fourteen calendar days before the prospective franchisee signs the franchise agreement or makes any payment in connection with the franchise; or (b) if the franchisor unilaterally modifies the terms and conditions of the franchise agreement without furnishing the prospective franchisee with a copy of the revised franchise agreement at least seven calendar days before the prospective franchisee signs the revised franchise agreement. According to Subpart C of the FTC Franchise Rule , along with other formalities established therein, the disclosure document the franchisor shall provide to the prospective franchisee must contain the following material information: - A cover letter indicating: (a) the franchisor's name, type of business organization, principal business address, telephone number, and, if applicable, email address and primary home page address; (b) a sample of the primary business trademark that the franchisee will use in its business; (c) a brief description of the franchised business; and (d) the total investment required to begin the operation of the franchise. - The following 23 items of disclosure information: (1) the franchisor and any parents, predecessors, and affiliates; (2) business experience; (3) litigation; (4) bankruptcy; (5) initial fees; (6) other fees; (7) estimated initial investment; (8) restrictions on sources of products and services; (9) franchisee's obligations; (10) financing; (11) franchisor's assistance, advertising, computer systems, and training; (12) territory; (13) trademarks; (14) patents, copyrights, and proprietary information; (15) obligation to participate in the actual operation of the franchise business; (16) restrictions on what the franchisee may sell; (17) renewal, termination, transfer, and dispute resolution; (18) public figures; (19) financial performance representations; (20) outlets and franchisee information; (21) financial statements; (22) contracts; and (23) receipts. Detailed information about each item may be consulted in Subpart C of the FTC Franchise Rule. Under Subpart E of the FTC Franchise Rule , seven exemptions apply to the FTC Franchise Rule. As of July 1, 2020, the following are the thresholds applicable to those exemptions from compliance with the FTC Franchise Rule: (a) Sales where the buyer pays less than $615 for the franchise. (b) Sales requiring a large investment where the franchisee pays at least $1,233,000, excluding the cost of unimproved land and any franchisor (or affiliate) financing; and (c) Sales to large entities, such as multi-unit franchisees, airports, hospitals, and universities that have been in business for at least five years and have a net worth of at least $6,165,500. Contact If you are in the US or planning to come to the US and would like to schedule a consultation, let's connect. CLICK HERE TO SCHEDULE INITIAL CONSULTATION OR EMAIL US CALL US
- Franchise Disclosure Issues
Back FRANCHISE DISCLOSURE ISSUES You may be buying or selling a franchise, but the FDD is necessary for both buyers and sellers to know. This disclosure document gives you all of what’s required under recently revised rules from July 1st 2008 (Amended Franchise Rule 16 C.F.R. Part 436) which will help protect consumers with their investment decisions. If you are a prospective franchisee, we will thoroughly review your application and advise you on the background, financial status, litigation history of any franchisers involved in this transaction. If you are a franchiser, we can help with the process by creating a franchise program for you. We'll review or prepare all of those documents and agreements so that they're ready when it comes time to register you as a seller of franchises in the states that require it. States that require FDD: California, Hawaii, Illinois, Indiana, Maryland, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington and Wisconsin Michigan has a notice filing requirement Oregon has a disclosure requirement but no filing requirement We're here to help you get your business off the ground and running smoothly. We’re sure we can provide all of those legal services necessary for launching or continuing franchising businesses. Contact If you are in the US or planning to come to the US and would like to schedule a consultation, let's connect. CLICK HERE TO SCHEDULE INITIAL CONSULTATION OR EMAIL US CALL US
- Estate Planning | BUSCHKIN LAW FIRM
Back ESTATE PLANNING Planning is the key to preserving your assets. We help clients design and implement strategies for the administration and disposition of assets during their life and in the event of incapacity or death. HOW WE CAN HELP YOU: Create an individual estate plan to preserve your assets for you and your loved ones Apply for Medicaid and VA benefits to cover the costs of long-term care Navigate through the maze of government rules and regulations Contrary to popular belief, estate planning is more than just having a will. It is concerned with the disposition and administration of a person’s assets during his or her life and in the event of incapacity or death. It is intended to protect your assets not only during your life, but during the lives of your spouse, your children, and grandchildren. A good plan is multigenerational and ensures that everything you have worked for all your life is not wasted or lost after you pass. While end-of-life planning can be full of difficult and delicate choices, at Buschkin Law Firm, we help you navigate through the complexities of the process and ensure that the plan you have will actually work. You have worked hard all of your life for what you have. Let us work hard to protect it. We will ensure that your wishes are respected and your estate planning goals are met. Every client is unique and we take an individualized approach to developing an estate plan that is specific to you and your individual requirements. We will perform a thorough analysis of your health care, financial, and personal needs, as well as those of your spouse and children. We will ensure that your assets are properly allocated and your plan will work according to your wishes, because your family may still need your help even when you are no longer with them. We encourage you to consider estate planning early. Waiting too long, or until an emergency arises, may prevent you from having enough time to adequately safeguard your life’s work and preserve your legacy. With our estate planning services, you will have peace of mind knowing that everyone you hold dear is protected. When you visit us for your consultation, we ask that you bring a list of your assets as well as a list of names and addresses of any beneficiaries. You may also want to bring a list of questions so we can better assist you. We will walk you through the process of drafting your legal documents because each legal document has a particular purpose with limitations. Some legal documents we will recommend to you include: 01 Last Will and Testament 02 Trusts 03 Powers of Attorney 04 Health Surrogates 05 Living Wills COMMON QUESTIONS WHY DO I NEED ESTATE PLANNING? Estate planning, as with any other elder law service, is a complex matter to discuss with your family. It is, however, necessary to plan. A complete estate plan will explain your intentions as to your estate and your long-term care. Preparing your legal documents and discussing your intentions can remove enormous stress from your family. In the event of an emergency or long-term illness, your loved ones will be able to focus on their time with you. They will know what you want and need and will not question your intentions. WHEN TO REVIEW MY ESTATE PLAN? We recommend you review your estate plan periodically, especially if there has been a change of circumstances. Please consider the following most common reasons to review or modify an existing estate plan: Death of spouse, Marriage, remarriage, divorce. Changing your state of residence Birth or adoption of a child Serious illness of a family member Beneficiary develops, substance abuse symptoms or becomes financially irresponsible A substantial change in total assets value Changes in law. Contact If you are in the US or planning to come to the US and would like to schedule a consultation, let's connect. CLICK HERE TO SCHEDULE INITIAL CONSULTATION OR EMAIL US CALL US
- Trusts | BUSCHKIN LAW FIRM
Back Trusts and Estate Planning Services We help you create a Trust for your specific needs and answer all your questions throughout the process. WHY DO I NEED A TRUST ATTORNEY? A trust attorney can set up the trust on your behalf and even serve as the trustee. Engaging an experienced elder law attorney for these functions can help you and your family avoid a long probate process, potentially pay lower estate taxes, and allow you to retain control over when your beneficiaries receive an inheritance. BENEFITS OF A LIVING TRUST Unlike a will, a living trust does not go through probate, an often-lengthy legal process. That means that your assets may be disbursed to your heirs in a matter of weeks rather than months or years. Establishing a living trust also prevents the substantial court costs associated with probate. This type of document also allows you to retain privacy: while a will is a public record, the assets are distributed privately. Contact If you are in the US or planning to come to the US and would like to schedule a consultation, let's connect. CLICK HERE TO SCHEDULE INITIAL CONSULTATION OR EMAIL US CALL US