Legacy Planning for Your Family Business
Legacy Planning for Your Family Business
Family businesses play an important role in our economy. According to data from the Family Business Alliance, there are 5.5 million family businesses in the United States. For perspective, approximately 60% of the entire U.S. workforce is employed at a family enterprise.
Building,...
Probate Process From A-Z
Probate Process From A-Z
Probate is the formal legal process during which a court oversees the administration of a deceased person’s estate. If there is a will, then its authenticity must be proven and its instructions must be interpreted. If there is not a will, then all remaining assets will be distributed in...
Importance of Asset Protection Trust for Medical Professionals
Importance of Asset Protection Trust for Medical Professionals
The culture of lawsuits and suing each other has been growing at an alarming rate in the American society. According to official statistics, the number of civil suit filings in US district courts increased by 16.2% in the year of 2020 on a year-on-year basis. In...
Differences and Pros and Cons between a California LLC v. a California Corporation
Differences and Pros and Cons between a California LLC v. a California Corporation
A corporation or a Limited Liability Company (“LLC”) are usually formed to limit the liabilities on an individual basis. An LLC is generally seen as a less complex version of an entity. It is said so because an LLC offers almost similar liability...
Adoption and Inheritance Rights
Adoption and Inheritance Rights
According to data provided by the Adoption Network, nearly 140,000 American children are adopted each year. While adoption is common, there is often confusion over the rights adopted children. You may be wondering: Do adopted children have the same inheritance rights in California? The answer...
Potential Reduction in Estate Tax Exemption in 2021 and What We Can Do About it
Potential Reduction in Estate Tax Exemption in 2021 and What We Can Do About it
As explained by the Internal Revenue Service (IRS), the estate tax is a tax on your right to transfer property at the time of your death. Only a small number of estates are subject to the estate tax. The estate tax exemption is $11.7 million for...
Physicians and California Professional Corporations
Physicians and California Professional Corporations
In California, physicians who want to incorporate their medical practice must do so by forming a special type of entity called a professional corporation (PC or P.C.). Physicians are not alone in this—other professionals such as dentists, chiropractors, naturopathic...
Estate Planning for Same-Sex Couples
Estate Planning for Same-Sex Couples
LGBTQ couples have long faced some unique estate planning challenges. However, recent victories for marriage equality have helped to bring some additional fairness and simplicity. In the 2015 case of Obergefell v. Hodges, the Supreme Court of the United States held that the fundamental right...
How to Form a Medical Professional Corporation
How to Form a Medical Professional Corporation
If you are a doctor or other type of healthcare provider, you may be interested in forming a professional corporation within the state of California that will allow you to provide medical professional services legally under the law. Understanding how to form a medical professional...
How to Form a Dental and Orthodontic Professional Corporation
How to Form a Dental and Orthodontic Professional Corporation
Forming a dental or orthodontic professional corporation may actually provide many legal advantages and benefits over establishing the business as a dental partnership or a sole proprietorship. However, forming a dental and orthodontic professional corporation can be...