The Law Offices of John K. Cook P.A.

Write a Review919-926-0847

OPEN NOW - Open 24 Hours

Welcome to The Law Offices of John K. Cook, P.A. Thank you for your interest in The Law Offices of John K. Cook, P.A.. John K. Cook has been practicing law in Wake Forest since 1987. He graduated with honors from Wake Forest University in 1984 and with honors from the Campbell University School of Law in 1987. Mr. Cook resides in Wake Forest with his wife, Jill, and their three children. The law firm actively participates in many civic organizations, including the Wake Forest Area Chamber of Commerce, the Rolesville Chamber of Commerce, the Youngsvillle Area Business Association, the Wake Forest College Birthplace Society, Inc., and other such organizations. The office, located in the main business district of Wake Forest, is open from 8:00 am until 5:00 pm, weekdays, except for major holidays. For 28 years John K. Cook has worked with clients in many different areas, though he assists clients mostly in the areas of business planning, estate planning, and estate administration. We Can Help Business planning consists of the purchase, operation, and sale of businesses. In purchasing a business, it is important to consider the type of entity which owns the business. The choices include operating a sole proprietorship, a partnership, an S corporation, a C corporation, and a limited liability company. In selecting the proper entity, it is important to weigh the advantages and disadvantages of tax effects and personal liability involved in each. When purchasing a business, it is also important to insure that one is not purchasing the seller's liabilities, as well as its assets. In order to help clients maintain a business, our law firm drafts a wide range of contracts, addressing such diverse matters as employment agreements, employee benefits, purchase of assets, licensing agreements, manufacturing contracts, and other such matters. In selling a business, it is important to determine whether one is selling a business itself or just its assets. Another crucial question concerns whether one is selling the business for cash or whether one is financing the purchase price. If the purchase price is financed, it then becomes important to insure that the purchase price is adequately secured. Planning Ahead Estate planning consists of both the current transfer of assets and the preparation of documents in order to accomplish the transfer of clients' assets, with minimal taxation, at the time of death. The transfer of assets is performed in a means consistent with the exemptions provided by state and federal gift tax laws, including the annual exclusion, the unified credit, and the specific exemption. The appropriate documentation consists of wills, powers of attorney, health care powers of attorney, and living wills. Wills provide a means of transferring one's assets to others, at the time of death; wills further provide one with the opportunity to establish trusts, both for minors and adults, and to designate the person who will manage the estate. General Powers of Attorney allow one to delegate to other persons the ability to manage one's business affairs, while Health Care Powers of Attorney allow one to let others make health care decisions, in the event of incapacity. Finally, living wills allow a client to lawfully instruct a physician to allow one to die in a natural manner.