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Top 3 Reasons You Need a Revocable Living Trust

revocable living trust
  With the new tax law, and some of the new estate tax provisions, many individuals may find themselves asking if they still need a revocable living trust. Avoid Probate One of the main reasons to have a trust as a part of your estate plan is to avoid probate.  In California, if your estate is worth more than $150,000, your estate is subject to probate.  If your estate is worth less than $150,000, there…
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Getting divorced and expect to pay spousal support? You have until June 29, 2018 to do this.

alimony money
  Under the new Tax Law, alimony, or spousal support, is not deductible for tax purposes by the payor for divorce decrees entered after December 31, 2018. In California, there is a statutory six-month waiting period to finalize your divorce from the time your spouse is served with the divorce pleadings. IMPORTANT: Accordingly, next week, specifically June 29, 2018 at the very latest, is the last possible day to serve divorce papers on your spouse…
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Are Settlements Taxable? Make Sure You Consult a Tax Lawyer

business tax write offs
  Settlements and judgments are both taxable, but there may some exceptions if you settle. Settlements and judgments are taxed pursuant to the type of claim involved.  For example, lost wages that are recovered will be taxable as wages; lost business profits will be taxable as business profits; etc.  With respect to losses in value of property, there could be capital gains or losses. You may have heard that personal injury damages are not taxable,…
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Why Won’t the Trustee Make a Distribution and Pay Me What I Am Entitled to?

trustee reading document
  Pursuant to Probate Code Section 16061.7, the trustee of a trust must distribute copies of the trust to all trust beneficiaries within 60 days.  The Notice must identify: the settlor or settlors and the date of the trust instrument; the name, mailing address, and phone number of each trustee; the address and physical location of the place of trust administration; and any other information that is specified in the trust. Why won’t the trustee…
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Is a Private Judge the Way to Go?

judge or lawyer working with agreement in courtroom theme. justice and law concept with judge's gavel on wooden table with law books
  A question which is often not considered in divorce cases is whether you should continue to have the public family court system preside over your case, or if your case is better suited for a private judge. Private Judges are often used in high asset dissolution cases; however, this is only the only case when a private judge is used.  Below are some things which are worth considering in determining whether a private judge…
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