Possessing wealth and high-value assets can be a double-edged sword in many cases. While they offer financial security, they can also create tax complexities for your loved ones when you pass away. Effective estate planning helps reduce your taxable estate,...
Year: 2024
6 times you need to update your estate plan
Getting your estate plans in order is a major milestone for a lot of people. In fact, only about 33% of people in this country ever get around to it – so you’re already ahead of the game. However, an estate plan should never be something that you create, tuck in a...
Important details to clarify in a commercial lease
A commercial lease can be a good solution to space concerns for startups and growing businesses. Leasing business space is more accessible and expedient than purchasing it, and rental arrangements offer companies more flexibility than ownership. That being said, the...
Deciding how your new LLC will be taxed
Deciding on the most advantageous way to tax your new limited liability company (LLC) is an important step in establishing a solid foundation for your business. This decision can significantly impact your financial health, influencing everything from your take-home...
How can you pass your home to your adult children?
Transferring ownership of a home in California to adult children is a significant decision that involves various legal and financial considerations. Because your home is such a valuable asset, it’s imperative that you do this in a way that makes it easiest for them to...
Benefits of a POD account
A Payable On Death account, or a POD account, gives you a new option to transfer assets to others. You name a beneficiary on a bank account or another eligible financial account. When you pass away, the beneficiary provides the death certificate or notice to the...
What are the provisions of a force majeure clause in a lease agreement?
Under normal circumstances, a contract obligates each party to perform their respective duties and obligations as outlined within the agreement. However, unforeseen events or circumstances beyond the control of either party, such as natural disasters, acts of...
Why succession planning is useful for your business
Business succession planning is closely related to estate planning. Many people consider it because they are passing a family business onto the next generation. They can certainly see the benefits for their immediate family members of having a clear, well-defined plan...
Factors that could invalidate a non-disclosure agreement
A non-disclosure agreement (NDA) can be an important tool in protecting your business trade secrets, confidential information and intellectual property from being disclosed to unauthorized parties. As legal documents, it helps to understand that mistakes can...
3 issues that could cancel a residential real estate closing
Both the seller and the buyer involved in a residential real estate transaction in California have an interest in completing a transaction in a timely manner. It can take weeks to plan for a move to a new home, and there are many other logistical challenges that...