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I would like some imformation about a severance package

1 Answers. Asked on Jun 01st, 2017 on Corporate Law - California
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Answered on Jun 02nd, 2017 at 11:23 AM

We can give you some advice and answer questions regarding legal issues. We would not know the "going rate" for severance packages for different job descriptions in different industries. 

Unless you have a contract which specifies severance terms, most American employees are engaged at-will. That means they can be fired at any time, with or without cause, and with no right to any severance compensation. Two weeks notice of termination is customary for many jobs. Many employers will pay that rather than have a fired employee hanging around for another two weeks. But there is no law requiring even two weeks notice.

On the other hand, if you have a potential claim for wrongful termination, such as for whistle-blowing, refusing to participate in unlawful activity or unlawful discrimination, then your severance package will be a settlement of those claims. A lawyer will need to determine what your claim is worth and the likelihood of successs, before advising you on your severance claim.

If you appreciate this free advice, please remember to refer me to any friends or acquaintances who need a lawyer. Referrals are still our best source of new business.

Do you have a revocable living trust to protect your heirs against probate? Probate takes forever, is expensive, and is annoying. Do your family a favor. Set up a trust, and put all your property, especially any real property, into the trust. Since it is revocable, you can change it, add to it, take property out of it, or even cancel it completely, at any time. We set up such trusts, provide a pour-over will as a back-up for any property that does not make it into the trust, provide you with blank durable powers of attorney for health care and financial decisions, in case you become incapable of making such decisions while still alive, and convey one piece of real property to the trust, usually the family home, for $1500.00. If you would like to hire me to do this, let me know, and I'll send you a list of the information I need.

 

Dana Sack

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Corporate Law
Attorneys who practice corporate law can offer strategic advice on the critical legal issues that affect your business. From helping to select an appropriate business structure (such as a corporation, partnership, limited liability company or s-corporation) to offering guidance on governance issues, a corporate lawyer can serve as your business's ally, advocate and risk manager. Law firms that practice corporate law often have lawyers who focus on particular subspecialties, such as corporate finance, commercial law, and mergers, acquisitions and takeovers.
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