Deciding whether or not to incorporate an operating sole proprietorship is one of the key business decisions for start-up companies. Essentially, in a sole proprietorship the person and the entity are one "person" under the law. Therefore, everything, both good...
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Month: May 2014
Estate Planning: Assets Owned in Your Own Name
Lack of Estate Planning deprives you of determining who inherits from you. Those assets which you own in your individual name will be distributed to your heirs at the time of your death, as determined by California Probate Code Sections 6400-6414. When you die without...
Fiduciary Duties in a Family Owned Business
Are there still fiduciary duties in a family owned business? Are they different or relaxed because the stockholders all happen to be related to management?The short answer is that yes, there are fiduciary duties, and no, they are not different or relaxed. The law does...
Who Will Inherit My Estate?
Who will inherit your estate depends on whether or not you have an estate plan completed. If you have a Will or a Trust, you have designated beneficiaries that will receive the value of those assets which remain in your estate at the time of your death.If you do...
Probate or Estate Administration? My Parents Had a Trust, Why Probate?
Probate and Estate Administration are two sides of one issue - the distribution of estate assets. A primary reason for preparing a trust in California is to avoid Probate and keep an estate out of court. When an estate does not go to Probate, then Estate...
Tips for Deducting Charitable Donations
Deducting charitable donations is important for both the donor and the charitable organization. To obtain a charitable tax deduction and/or to offer to the public a charitable donation opportunity, the organization MUST be a qualified organization under the...
Reviewing and Updating Your Estate Plan
An Estate Plan can be like your car. You purchased a car that will be reliable and long lasting; however it requires periodic check ups and maintenance. Your North County attorney cannot prepare your Estate Plan to be suitable indefinitely. Changes in life...
I’ve been told I need a “trust.” What kind? Living Trust? Irrevocable Trust?
There are many different kinds of trusts. For example, there is the common inter vivos trust (which is often referred to as a "living trust"), and there are more rare variations, such as the "pet trust." While some trusts may have similarities, each is unique and may...
Be careful what you say during contract negotiations or at signings in CA
The California Supreme Court extended litigation risks when Selling, negotiating, inducing someone to sign an agreement with you prior to or atthe time of signing can now lead to litigation. A new sequence of cases makes it easier to litigation fraudulent...
