Investment real estate such as apartment buildings, duplexes, an industrial warehouse, a strip shopping center, etc. are usually owned by two or more persons. Upon acquisition the parties are usually in harmony as to their investment objectives. Over time however disputes may arise concerning the management of the property such as whether or not to sell the… [Read more…]
January 21, 2012
A new California court case illustrates how writing one’s own estate plan rather than using an attorney can lead to legal problems and unexpected costs for your estate. In the Estate of Duke case decided by the California Court of Appeal this past December, the decedent had drawn his own will otherwise known as a ” holographic”… [Read more…]
November 18, 2011
Every day millions of Americans must decide when it is time to step down from their business. An owner must decide whether he/she plans to retire or keep the business until they die. If the business has partners/shareholders/LLC members, an owner’s decision will impact on the others. These issues should be carefully reviewed with one’s… [Read more…]
October 23, 2011
Businesses rely on electronic signatures for contracts everyday. But are they legally valid? The short answer is yes. But certain contracts are still required to be on paper in order to be enforceable. Here are a few examples: Life and health insurance benefits and termination requests, foreclosure related documents including foreclosure notices, utility termination notices,… [Read more…]
September 4, 2011
Soon the college aid application season will be upon us. The Federal Application For Student Aid ( FAFSA) can be filed beginning January 2, 2012. Filing earlier rather than later is important. The process of putting together parent’s financial information so that the FAFSA can be completed and ready for filing in January SHOULD BEGIN NOW. Part of the… [Read more…]
August 28, 2011
The recent California Court decision in Misik vs. D’Arco is a prime example of why it is so important to operate your corporation or LLC as a true separate entity. Misik loaned $ 150,000 to whem he thought was a Mr. Ballardo in exchange for two interest bearing notes and trust deeds. Sayrahan, Inc. however was listed… [Read more…]
August 18, 2011
A creditor, particularly a judgment creditor( a party who has sued you and won), has various means of discovering your assets and ultimately collecting on the judgment. The notion that secrecy will prevent a judgment creditor from collecting is not true. A court can issue a court order for the judgment debtor to testify under oath (… [Read more…]
August 3, 2011
Governor Brown signed into law July 11, 2011 SB 458 as an emergency measure extending the anti- deficiency protection of CCP Section 580e ( applicable to borrowers on a 1st trust deed loan) to ALL trust deed loans, including home equity loans. Anti-deficiency protection means that in the event of a short sale, the lender CANNOT later sue the borrower… [Read more…]
July 24, 2011
As a general proposition a California LLC and an S- Corporation are very much alike. Both provide judgment creditor protection and both have pass through tax status. This means there is no double taxation at the entity level and again at the individual level. Instead the income and/or losses pass through to the owner taxpayer directly… [Read more…]
June 25, 2011
The California case of Kono vs. Meeker decided June 3, 2011 is a perfect illustration of how beneficial a California LLC can be. The facts: Mr.& Mrs. Meeker ( Defendants/Judgment Debtors) owned 2 antique stores in California There is no indication that the two stores were owned by an LLC, rather it appears the Meekers did… [Read more…]
Sjgassociates's Blog
February 19, 2012
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