California residents must be particularly cognizant of certain rules that are integral to a well-crafted estate plan. Part of that is knowing about the tax implications and certain exemptions that are available for those whose estates go beyond a set amount. The current estate-tax - also referred to as the inheritance tax or the "death" tax - is $5.49 million for an individual and just below $11 million for a couple. Receiving an amount beneath these figures protects the recipient from the inheritance tax. Even with that, those who are formulating an estate plan should determine if they should use the exempt amount for the heirs or if a trust is preferable.
California landlords need to be aware of the different ways in which a tenant can be legally compelled to leave the property. While there are five options when giving an eviction notice, there are three in which the tenant is simply being asked to leave or "quit" the property. Those that will not be discussed here provide alternatives for the tenant to remain. This post relates to the tenant moving out when asked to do so with no option to stay. There are three alternatives: a 3-day notice to quit; a 30-day or 60-day notice to quit; and a 90-day notice to quit.
Losing a loved one under any circumstances is challenging. It can be even harder when you have questions and concerns about how a loved one's will was written, amended or executed. No one wants to create conflict among family members and fight about the distribution of an estate, but if there are real concerns about the validity of a will, it's important to voice these concerns during the probate process.
Removing someone from your property can be a delicate affair. If you don't follow the proper procedures, you could be violating your tenant's rights, and you'll be the one in trouble. There are a variety of valid reasons to terminate your tenant's right to be on your property. It could be that they aren't paying the rent on time. They could be breaking the terms of the lease by having pets or unauthorized people on the premises. Or they might be conducting illegal activities on the property such as selling drugs.
Sustaining an injury or suffering from a fatal illness is no longer considered to be a foreign concept, especially with the rising cases of health disorders in the U.S. When you become incapacitated due to illness, logic dictates that someone else has to make health decisions on your behalf. In most cases, your immediate family takes up such a responsibility with your spouse in prime position to make such decisions. However, certain medical conditions might be too complicated even for a spouse to decipher effectively.
If you are a homeowner and have other valuable properties and assets, it is important to have an estate plan to safeguard the interests of your family and your assets as well. A comprehensive estate plan will ensure that your wishes are carried out to the last precise detail. Having adequate information and guidance will assist you in knowing the options that you have in regards to trust administration, wills and also the possibility of a probate. A probate requires the need of court surveillance while sorting out the properties and assets of someone that did not have a will, trust or estate plan.
Californians might have a certain amount of difficulty considering the inevitable and moving forward with an estate plan, but it is a necessary step to ensure that the property and assets will go to their designated beneficiaries. It is also a sound way to avoid family disputes and rancor. There are, however, certain foundational aspects of drafting estate planning documents. Knowing what to take into consideration can avoid the need to make changes to the documents and keep the disagreements to a minimum once the testator has passed.
Every business owner comprehends that drafting and signing contracts play an essential role in daily operations. Since we can't base professional transactions on word of mouth, a contract stipulates the when, what and where of any transaction between two or more parties. In the absence of such an agreement, potential investors and suppliers can renege on their commitment and adversely affect any meaningful growth. To sensitize the importance of a contract, individuals deemed in breach of a contract are liable to prosecution before a presiding jury.
Running a business is difficult enough on its own, but what can make things even more difficult is when your competitors resort to cheating and unethical behavior to gain an advantage. Fortunately, a set of laws known as the Unfair Competition laws have been formulated to protect against unethical business practices. In order to utilize these laws, first you must understand what constitutes unfair competition practices in business.
Being a landlord in Bakersfield and throughout California can be difficult, particularly if the tenant is not living up to the lease agreement or is behaving in ways that make it necessary for them to be evicted. Understanding the law regarding when a tenant can be evicted and what the landlord is allowed and not allowed to do is one of the most important aspects of being a landlord. To make certain there are no violations when deciding on how to proceed, understanding the law is paramount.
Probate is the legal process of transferring a deceased person's property to heir and beneficiaries, determining the validity of the will, and meeting the financial responsibilities of the estate. Depending on the property an individual leaves behind, the family circumstances, and the specific arrangements an individual made for the disposition of his or her property at death, probate can be a more or less burdensome task. It can be especially burdensome if there is a lot in dispute in probate court.