Author: JIM FLYNN Special to The Gazette
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Money & the Law: Relationship between bank and customer a complicated one
A bank where I have a deposit account recently sent me a booklet titled “Depository Agreement and Disclosures.” This booklet sets forth the terms of the contract I have with my bank governing my account — and it’s 47 pages long! By keeping my account at the bank, I agree to these terms. If I…
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Money & the Law: Creating an LLC not a do-it-yourself undertaking
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save Facebook Twitter WhatsApp SMS Email Print Copy article link Save As a possible sign of economic recovery, new business filings in Colorado in the second quarter were (not surprisingly) up substantially over 2020. And the most common type of new business entity being formed continues…
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Money & the Law: After alimony awarded, there’s a high bar to change
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save Facebook Twitter WhatsApp SMS Email Print Copy article link Save Divorce law is largely about children and money (and occasionally the family pet). On the money side, of considerable consequence in most divorce cases is spousal maintenance, sometimes referred to as alimony. A spousal maintenance…
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Money & the Law: What’s an insurance score and how does it affect your auto insurance premium?
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save Facebook Twitter WhatsApp SMS Email Print Copy article link Save I recently received my semiannual packet of information telling me my auto insurance was being renewed (and, as usual, that my premium would be increasing). This packet included a disclosure statement titled, “How We Determine…
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Money & the Law: With every rule there seems to be an exception
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save Facebook Twitter WhatsApp SMS Email Print Copy article link Save As has often been said, the law consists largely of rules and exceptions to rules. Here’s an example. In 1989, in Mesa County, Rafael Aguilar Garcia shot and killed a man who was hanging out…
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Money & the Law: Department’s effort to rein in Realtors group break at square one
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save Facebook Twitter WhatsApp SMS Email Print Copy article link Save Late last year, with great fanfare, the U.S. Department of Justice announced the settlement of a lawsuit it had brought against the National Association of Realtors (NAR). In this lawsuit, the DOJ accused the NAR…
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Money & the Law: Be aware of banks’ overdraft policies
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save Facebook Twitter WhatsApp SMS Email Print Copy article link Save Overdraft charges are an important source of revenue for banks — $31.3 billion in 2020. They are also a continuing source of confusion and consternation for bank customers (especially when — surprise — a $5…
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Money & the Law: What happens to your unpaid debts when you die?
Most people (some more than others) leave unpaid debts behind when they die and the process of administering an estate must deal with these debts. Although complexities can arise, the procedures for dealing with unsecured creditor claims against an estate generally work like this. The personal representative for the dead person — the “decedent” —…
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Money & the Law: What to know about motor vehicle service contracts
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save Facebook Twitter WhatsApp SMS Email Print Copy article link Save Going back a decade or so, fraudulent sellers of motor vehicle extended “warranties” took a time-out. That’s because a big player on this stage, U.S. Fidelis, went broke and its owners, brothers Cory and Darien…
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Money & the Law: Man known for originating Ponzi scheme died penniless
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Facebook Twitter WhatsApp SMS Email Print Copy article link Save Facebook Twitter WhatsApp SMS Email Print Copy article link Save Bernard Madoff died in prison April 14. He was 82 and was serving a 150-year sentence for having operated the largest Ponzi scheme in history. Investor losses totaled $64.8 billion, inclusive of phantom investment gains…