Publishing Date After Acceptance
Q. How long should it take for my novel to be published after acceptance? A. A standard publishing agreement stipulates that the publisher has somewhere between 12 and 24 months to release the book after the publisher has accepted the manuscript, with 18 months being typical. Aside from the obvious fact that authors wish to see their book in print as soon as possible, there are other reasons to...
Read MoreHow Your IRA Can Benefit Both Your Heirs and Charity
Do you want to use your IRA to help a charity, but also benefit your heirs? Instead of leaving your IRA directly to your children, you can leave it to a charitable remainder unitrust (CRUT) while still benefiting your children. With rules about inherited IRAs potentially in flux, this may be an attractive estate planning option. Currently, when a non-spouse inherits an IRA, the beneficiary can...
Read MoreHow to Choose a Trustee
If you create a trust, you will need a separate person or institution, called a “trustee,” to manage the trust either now or in the future, depending on the type of trust. Choosing the right trustee is crucial to making sure your wishes are carried out. The choice is important because being a trustee can be a difficult job, with a trustee’s duties including making proper...
Read MoreBankruptcy Clauses In Publishing Agreements
Many publishing agreements include bankruptcy clauses to protect the author, for example: In the event of the bankruptcy, insolvency or liquidation of the Publisher, this Agreement shall terminate and all rights granted to the Publisher shall revert to the Author automatically and without the necessity of any demand or notification. Sounds good. But is it enforceable? Surprisingly – no. ...
Read MoreWhat Is Cost Basis and How Do You Prove It?
Knowing the “cost basis” of your property is important for tax purposes, but proving cost basis can be difficult. Cost basis adjusts at death, so it is a good idea to appraise property when a joint owner dies. Cost basis is the monetary value of an item for tax purposes. When determining whether a capital gains tax is owed on property, the basis is used to determine whether an asset...
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