August 31, 2018

In the realm of legal terms, you may have heard the term “Fiduciary Duty” but have been uncertain as to what it actually means. You are probably not alone because even our courts have trouble defining and applying it. Fiduciary duties refer to the manner in which fiduciaries must treat those who they owe the duties to in the course of business. A fiduciary duty demands trustee-like behavior that exceeds the standards of the market place. For a fiduciary duty to exist, however, there must first be a fiduciary relationship.

So, what is a fiduciary relationship? Courts have generally declined to define “fiduciary relationship” because attempting to define such a broad term may exclude “any relation that may exist between two or more persons wit...

August 21, 2018

One of the first and most important decisions facing a new business is choosing the right organizational structure. Owners must take into consideration factors such as, taxes, personal liability, and complex business formalities. There are several types of business structures, and the most common types are discussed below.

Sole Proprietorship

The sole proprietorship is a business owned and operated by a single individual. There are no filings required to form a sole proprietorship, it simply forms when an individual engages in business for profit. The sole proprietorship is not a separate legal entity, so the owner and the business are essentially the same person. This means that profits are taxed as the owner’s income. Also, this means that...

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We are North Carolina litigation and business law attorneys. We focus our litigation practice on complex legal matters with significant issues of law or damages. Whether you are a private individual negatively affected by the actions of another, an entrepreneur starting or protecting a business, or working through governmental regulations, we have the experience and skills necessary to ensure you have effective, efficient legal representation. Call Wimer & Snider at Asheville Legal for your consultation today. 828-350-9799.

The attorneys at Wimer & Snider, P.C. in Asheville have represented clients in much of the United States, including North Carolina, South Carolina, Georgia, Florida, California, Virginia, and Texas. We are licensed to practice law in North Carolina and Texas. Our offices are conveniently located in the arts district of West Asheville, NC.   Phone: 828-350-9799

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