Can out of State assets be held in your California Trust? A Living Trust, a common Estate Planning tool, created for a California resident is typically created under the laws of California, unless otherwise advisable. This raises the question as to whether or...
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Month: June 2014
Real Estate Impact: Documentary Transfer Tax Act
Effective January 1, 2015, the Documentary Transfer Tax Act is changing and it will impact real estate professionals.The California Documentary Transfer Tax Act (Cal. Rev. and Tax. Code Section 11901 et seq.)(the "Act") authorizes a county or city to impose a tax with...
New Approach to Land Use Disputes – U.S. Supreme Court-Village of Willowbrook v. Olech.
A new approach to land use and litigation disputes under Village of Willowbrook v. Olech may arise in a variety of circumstances; e.g. downzoning, restricting use of property for environmental purpose, denial of development permit, a subdivision map, a conditional use...
Estate Plan: Transferring an Asset to Trust After Death
Heggstad Petition: Transferring an Asset to Trust After DeathEstate Plans may not include all of the assets. Can you transfer an asset to trust after death? MAYBE.Generally, after the time of death a Living Trust or Revocable Trust becomes irrevocable. At that time,...
My Incorporation Documents Were Prepared by an Online Service; Is My Business Protected?
As a recent Forbes article titled "Legal Mistakes That Haunt After Death: Three Cases" pointedly highlighted, and as this blog acknowledged last month, legal documents are not something that should be left to an online document preparation service. Effectively, an...
Estate Plan: Assets Owned Jointly or With Beneficiary Designation
An Estate Plan must consider the assets owned jointly between you and another person, such as a residence or assets for which you have designated a beneficiary, such as a life insurance policy.If an asset has a beneficiary designation, that asset will pass to...
