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Posts with tag laws

Ohio short-circuts copper wire thieves

Filed under: Ripoffs and Scams

copper coilThe Governor of Ohio, the state I call home, signed a new bill into law recently which is aimed at deterring scrap metal theft. The new law was introduced last year in response to thefts of everything from manhole covers and kegs to power station and telecommunication equipment. In fact, the state had passed similar restrictions last year citing the theft of cable from AT&T which cost the company close to $80,000, but had a lowly value of $30 to the thieves who stole it.

The new legislation in Ohio would place a higher burden on scrap metal dealers to keep more detailed records of who sells certain types ofscrap metal to them, including most items which are used to deliver a utility, including pipes and cables. This new category of merchandise would be subject to the more detailed book- keeping, including a copy of the seller's driver's license and plate number. Additionally, the law requires the buyer to photograph every item in this category imposes a two-day waiting period for payment, and forbids payments in cash. Sellers of scrap goods would also need to prove that they owned the goods they brought to the scrap yard.

I think this is a wonderful idea and one of the few ways that a dent can be made in the theft of scrap metal goods. Unfortunately, I'm sure it won't take long for thieves to steal some melting pots and melt down copper wire into unrecognizable clumps of metal in order to sell them for scrap. Even if this legislation only helps keep the metal siding on one home, the manhole cover on one street or a beer keg at a college party, it is worth it!

Estate planning, wills and trusts: It's never too early get started

Filed under: Insurance, Real Estate, Simplification, Tax, Wealth

He was a classy, hard working old gent and he owned his home free and clear. He didn't owe anything to anyone. He passed away unexpectedly one day without leaving a will. Now, several thousand dollars of attorney's fees have piled up yet basically nothing has been accomplished to bring his estate to closure. Therein lies the legacy of my father-in-law.

There are two ways to handle the planning of your estate settlement. You can learn what you need to know and execute what is generally a fairly simple plan, or you can ignore the fact that some day you'll fade away from this life and thereby leave the distribution of your assets to the law and to chance. My recommendation is that you begin the learning process right this very minute. What you learn through this blog post could actually affect your heirs for decades to come.