The Allen Firm Knowledge Base

You (the visionary) are ready to form a company and you have no clue which type – LLC or Corporation.   We will not form anything until you ask these two questions to these people:   1) Accountant: Q) What type of entity do I need to form?   2) Insurance Agent: Q)...

Stop messing around and start it already. Hey - Big Thinker Risk Taker Starter Routine Hater Disruptor Creator and Achiever You are a visionary. I bet you have an idea right now and are ready to create. Over next couple weeks, we will be walking you through the...

If you are building or repairing a house, building, or improvement and providing material or labor then you are a “Claimant” – for mechanic’s lien purposes.   There are different types of Claimants and each has a process to follow to perfect their lien.   All...

If you are doing construction or repair work on a person’s residence (called homestead), then you must have these in place to get your mechanic’s lien: A disclosure statement must be provided to the owner before a contract is signed. A written contract with the owner...

Here are the 5 documents you need to get signed.  Once you do – you can know things are taken care of. PS. Many people are concerned about the cost of these documents. Call us today and we will let you know the exact cost of each document. This should not be an...

Here are six (6) types of water damage which may or may not be covered by your homeowner’s insurance policy. Sudden and accidental (like a pipe burst) Water backup (backed up drains) Foundation water (plumbing leak in foundation) Seepage or leakage (14 days is a...

What type of life insurance do you need? Term Life – is like renting a home.  Whole Life – is like owning a home. Term- Will last for a certain term (like 30years) Goes away after term is up Is cheaper Whole Life- Is permanent Pays at death Is more expensive Call your...

Stan is ready to sell his house. Here are two situations that may arise: 1) Situation 1: Stan signs a contract and sends it to the buyer (= Offer) Buyer signs the contract as presented (= Acceptance) In this event, Stan is under contract and has a deal.   2)...

What does it mean to be sued?  Or, to sue someone? Short answer – it means going to court to resolve a dispute. There are really two parts – finding the facts (using documents, witnesses, evidence) applying the law to those facts (the court/jury will apply the law to...

Buying or selling real estate does not need to be intimidating.  Here are the simplified steps: Contract is negotiated and signed. Buyer obtains a loan. A title company researches the title to the real estate and issues a Title Commitment (this will lead to an...

Situation 1: - SDPOA I am selling my house. The closing is next week. The Problem - I will be out of town next week for work. The Solution – a Statutory Durable Power of Attorney allows me to designate a person as my agent to sign the closing papers on my behalf....

You have purchased some rent houses and put them into a newly formed LLC. Good move. You obtained a commercial general liability insurance policy for the LLC.  Good move. Something bad happens at one of the properties.  The injured party sues the LLC and sues you, as...