Saturday, June 18, 2016

Attorney Forms - What Powers Does it Grant?

Expert Author Pinky Savika
Briefly, power of attorney is a legal document, in which the principal owner transfers some powers to the 'agent' to act on their behalf. The power of attorney can be general or custom-made for particular transactions. Attorney forms are available for free on the internet. For the general types, download free general power of attorney form or the blank power of attorney form. Depending on the legal transaction, the 'principal' can add clauses to the document. Each state has their own laws and it is advised to seek help of a professional attorney for these dealings. However, if you just want an idea then below are given some factors that constitute the two.
- Revoking all power held by the principal benefactor and assigning to the agent to continue business on the principal's behalf. These may include operating bank accounts, brokerage accounts, making financial transactions to banks and other companies, conducting withdrawal and deposits, creating bank statements, and others.
- Power to buy and sell property or invest, adhering to the principal's interest. Some general power of attorney form also includes the clause of issuing life insurance policies in the name of the 'principal' benefactor. The 'agent' can take recourse to settling debt claims and collect any debt amount owed to the 'principal', and also sign binding contracts.
- The 'agent' can sign government documents, taxation statements, and have access to government information. Agent can file tax returns with the state, local, and federal institutions. He is also liable to supply the government with information in matters of social and military benefits. The 'agent' can conduct charitable acts with the 'principal' assets and have the power to send gifts to family members, which shall be included in the clause.
However, the blank attorney power also mentions that the agent will be liable for legal proceedings in matters of misconduct and misappropriation of funds and assets.
Pinky Savika has been writing articles for more than 5 years. Not only does this author specialize on the subjects of health, diet, fitness and weight loss, you can also look at her latest articles about Attorney Form Power [http://www.blankpowerofattorneyform.com] which give you information about power of blank attorney form, and General Attorney Power [http://www.freegeneralpowerofattorneyform.com] which give you information about general power of attorney form.
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Detroit Commercial Property - Now Is The Time to Buy!

Expert Author Larry Emmons
Does commercial real estate in southeast Michigan offer the most outstanding investment potential anywhere in the country right now? Some investors think so. When the great recession fully took hold in late 2008, the entire real estate market, both locally and nationally, plummeted in price creating a once in a lifetime opportunity for all cash investors. There have been a handful of high-profile transactions in the past few months with the promise of more to come in 2012. The buyers range from out-of-town value seekers to savvy local investors. Here are two examples:
West Tech Park is one of the premiere R&D/Flex developments in the suburban west side market. It sits prominently at the corner of Haggerty Road and the busy I-696/I-275 Interchanges in Farmington Hills, Michigan. Totaling nine (9) buildings, and over 278,000 SF in size, it was originally developed in the late 1980's by a partnership of well-known local developer REDICO and TIAA-CREF, the giant teacher's pension fund in New York. West Tech Park has had a few other prominent owners over the years, including Pennsylvania based Liberty Property Trust, Iowa based Principal Life Insurance Company and of late, ETC Capital LLC, which is backed by local 5-Hour Energy entrepreneur Manoj Bhargava. ETC Capital was able to acquire West Tech Park for $8.5 million, or $30 per square foot. This is less than 50% of the cost to construct the property back in 1987, when asking rents alone topped the market at $12.00 to $13.00 per square foot. Now granted, the new Landlord will have to invest additional dollars to maintain the property and outfit it for new tenants (the property was only 32% occupied at the time of purchase according to CoStar.com), but ETC Capital will be competing for those tenants with a base investment significantly lower than many of the competing area properties. Bhargava, through another entity, recently purchased a modern Plymouth Township building formerly occupied by Johnson Controls for a mere $22 per square foot. Again, this just is a fraction of the cost to construct this building back in 1996. One can only conclude that Bhargava knows great value when he sees it, and believes in the long-term prosperity of Metro Detroit.
There is an old adage that says "you make money in real estate when you buy, not when you sell." Having a lower basis in your investment than your competitor allows you to undercut the market in good times and bad, attract and keep more tenants and keep cash flow strong.
The David Stott Building in downtown Detroit, located at 1150 Griswold Street, is a 163,000 square foot, 41-story classic icon on the Detroit skyline that was constructed in 1929. After years of neglect and yet another foreclosure action, enter Fort Lauderdale investor Emre Uralli. Through his investment firm Citi Investment LLC, Uralli purchased the property for just under $900,000.00, or $5.52 per square foot according to CoStar. Yet another example of value investing, this property was originally constructed for $3.5 million in 1928, or $46.3 million in today's dollars according to Crain's Detroit Business. Uralli is new to the area, and in an interview with Crain's reporter Dan Duggan stated of Detroit, "there is no better value in the world and that's why I'm here." From Fort Lauderdale to Detroit? There must be some Elmore Leonard twist in Mr. Uralli's plan, but I cannot quite put my finger on it. Here again, the new Landlord will have to invest additional dollars (millions in this case) to maintain the property and complete tenant improvements, but will be able to compete at a much lower basis than much of the competition. In 2008, the 289,000 square foot, 14-story, former headquarters for the Detroit Free Press, located at 321 West Lafayette, was purchased by Free Press Holdings LLC, another Uralli investment firm. Having traded the sun soaked beaches of Fort Lauderdale for the harsh winters of Detroit you can only conclude that Uralli sees great value here in something other than our weather!
The unprecedented swoon in the commercial real estate market has created a once in a lifetime opportunity for value investors. It's time to buy commercial property in Detroit!
Larry H. Emmons
Senior Vice President
Grubb & Ellis Company
Southfield, Michigan
larry.emmons@grubb-ellis.com
248-357-6565
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Unclaimed Money and the Demutualization of Life Insurance Companies

Expert Author Jeffrey Richman
Demutualization is the process of taking a mutual life insurance company that is owned by its policyholders and converting it into a publicly traded stock company owned by shareholders, in accordance with a plan of conversion that has been approved by policyholders and state regulators. It also goes by the names of stocking or privatization.
Mutual life policyholders have the ability to receive stock, cash and/or policy credits in exchange for their ownership interests in the previous mutual insurance company often known as a "windfall" payout. I'm sure that as many of you know, it is not always a "windfall".
At times, policyholders receive only subscription rights to buy shares of stock of the newly formed company or membership rights can be transferred to a mutual holding company (MHC) which owns a newly formed, subsidiary stock life insurance company.
If the current address of the policyholder was unknown, the shares of their stock and any dividends that were paid out are held in trust. These shares are held for a specific period of time which is mandated by the state where the shares were purchased in and if the heirs are not found, then the company, according to the unclaimed property laws of the state, are then sold where the money is held.
Millions of policyholders and their heirs may be entitled to these funds. Most never know because they are not informed by the parent company or the state where these shares are located.
The largest life insurance companies that have demutualized include the following firms:
American Mutual Life - AmerUS
Anthem Insurance
Central Life Assurance
Equitable - Axa
General American Life
Indianapolis Life
John Hancock Mutual Life
Manufacturers Life - Manulife
Metropolitan Life - MetLife
Mutual of New York - MONY
Mutual Service Life
Nationwide Life
Northwestern - ReliaStar
Phoenix Home Life
Principal Mutual Life
Provident Mutual Life
Prudential Life
Standard Insurance
State Mutual - Allmerica
Sun Life
Sun Life - Clarica
Union Mutual - UNUM
If you feel that you may be owed money or shares from the proceeds of the demutualization, you should contact the life insurance company directly. If, while going through any papers that you have, find the possibility of having something, take a few moments and place a call and find out if there is anything there for you. You may be quite surprised.
If the demutualization happened more than five years ago, you would then be referred to the state (where the company is incorporated) unclaimed property office. Always go to the numerous websites that are out there to see if there is any money for you, a family member, or friend.
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