It’s safe to say that most of us have been significantly impacted by the coronavirus pandemic, which has caused the death and destruction of millions of businesses across the U.S. Things definitely look very different now than they did just half of a year ago. That’s why it’s so important that as we continue to […]
While the coronavirus pandemic has shattered much of a thriving U.S. economy leaving many businesses to struggle, small business owners especially continue to feel its full impact. Whereas they were once concerned with growth year over year, they now find themselves worried about staying afloat day-to-day. Although the future remains quite uncertain, many small business […]
When you create a trust, sometimes you do so with the ability to alter it at any time during your lifetime. Such a trust is known as “revocable.” A revocable trust, often referred to as a “living trust,” is a legal document generally used to transfer assets to one’s heirs in an effort to avoid […]
As the coronavirus continues to cause an economic recession in the U.S., millions of Americans are accumulating debt and sharp losses in income. But for older Americans, this is not what they expected to leave for their children. If children or other heirs inherit bills when their parents or loved ones pass, are they required […]
Despite the fact that everyone should utilize fair business practices, this is not always the case. Unfair business practices are prohibited under California law, and include things such as fraud and misrepresentation. Unfair business practices consist of fraud, misrepresentation and any other unconscionable acts that a business may perform. These are often taken against consumers […]
The United States is made up of individuals from all over the world and is home to many non-U.S. citizens who live, work, and sometimes die in this country. So what happens when a non-U.S. citizen passes away in the U.S.? Usually, there is nothing that stops such an individual’s estate from being distributed. Unfortunately, […]
The Financial Account Standards Board (FASB) has replaced the Accounting Standards Codification (ASC) regarding property leases. The new standard, referred to as ASC 842 or ASU 2016-02, replaces the 40-year-old US GAAP leasing standard, often referred to as ASC 840. ASC 842 was issued in February 2016 to help dis-incentivize businesses from leasing property rather […]
You may have heard that Delaware is the best place to form your business entity. This is because the state has laws that favor business formations. Such laws have included: Most favorable franchise tax rules; Most pro-management from a legislative and judicial standpoint; Broader protection for board members against lawsuits initiated by shareholders on behalf […]
Marriage is a joining of two lives. From bank accounts to taxes, couples begin to combine their assets and benefits. But while most newlyweds think of many of these issues, few give thought to the creation of an estate plan. Contrary to popular belief, estate plans are not only for the rich or aged. In […]
The point of an estate plan is to provide for our loved ones, whether it be when we become incapacitated, or upon our death. Each of us wants to know that our interests are protected and that our loved ones are provided for. If we become ill we want to know that we will be […]
