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October 2017 Archives

The advantages and disadvantages of revocable living trusts

Many people in the Fresno are may swear by trusts as the best estate planning tool that a Californian can use with respect to estate planning. It is true that setting up and maintaining a trust carries with it several important advantages. However, as with just about any legal procedure, a trust is not necessarily right for everyone and should not be seen as a one-size-fits-all approach to estate planning.

Incentive trusts could offer motivation and peace of mind

As someone with a kind and giving nature, you may have always known that you would like to leave certain assets to your loved ones in the event of your passing. Of course, you likely also know that simply handing over money, valuable items or other property may not always be in the best interests of the intended recipients. As a result, you may find yourself wondering if you could somehow control the use of the bequeathed assets even after your death.

What is a Sub-S corporation?

One of the big questions a beginner in the world of business is going to have to ask himself or herself is what type of business organization they are going to use for their operations. There are many options to choose from, and often the right fit depends on how one's business is set up. The right business organization gives a new enterprise flexibility while putting it in the most advantageous legal and tax situation possible.

Interpreting a will or trust

This blog has in many cases discussed the types of probate litigation with which Fresno, California, residents and those who live in the surrounding area are most familiar, that is, those situations in which a will or trust is challenged outright as being invalid or somehow worthy of being ignored.

Dealing with debts after your death

If you are savvy about the importance of estate planning, you may have already taken steps to prepare for the time when you are no longer here. You may have a will signed and witnessed according to the laws of California. Perhaps you have designated your power of attorney and made an advanced directive to address any financial or health issues that may arise if you should become incapacitated. You may even have purchased a cemetery plot, arranged your funeral and ordered a headstone or urn vault.

3 speed bumps that could slow down the probate process

Once you accept the position of executor or personal representative for a loved one's estate, you may not think about it much afterward. Of course, after your family member passes, you may find yourself thrust into a position of duty that requires you to carry out many tasks in order for the estate to close properly. The majority of the tasks will likely relate to the probate process.

Using the LLC as an estate planning tool

This blog has previously discussed how residents of the Fresno area might consider creating a limited liability company, or LLC, when forming a new business. The LLC offers attractive incentives to new entrepreneurs, including some tax benefits and, perhaps more importantly, legal protection of one's personal assets from claims in the event the business fails.

What's the right entity choice for your small business?

Starting a business in California is a complex process, and there are many important decisions that you have to make in the beginning stages. One of these is determining which business entity is ideal for your situation. There are multiple factors that go into deciding the choice for you, and you may find it useful to seek help when making this decision.

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