The Family LLC – A Unique Estate Planning Tool

A Family Limited Liability Company (FLLC) is a legal entity that serves as an estate planning tool. The main goals are to protect assets from creditors, provide management experience for younger generations, ensure who acquires a direct interest in the family business, prevent fragmentation of the family business and assets, and reduce estate and gift taxes. A Family Limited Liability Company (FLLC) is a legal Read More

Title Insurance Issues After Transferring Real Property To Revocable Living Trust

If you know someone who already has a living trust, they may be in danger of losing their home! Anyone who has transferred real property to their revocable trust must consider the dangers of their title insurance policy becoming invalid after such a transfer, and should explore their options.   What is title insurance? When you purchase real property, most often you also purchase a title insurance Read More

S-Corporations Vs. C-Corporations

What is the best legal structure for your business? While there is an assortment of different structures (corporation, limited liability company, partnership, etc.), it is first important to understand the difference between an S-corporation (“S-corp”) and C-corporation (“C-corp”). An S-corp is a corporation that elects to be taxed under Subchapter S of the Internal Revenue Code. The profits (and losses) of an Read More

The Defend Trade Secrets Act Of 2016: Federal Jurisdiction For Trade Secret Litigation

The federal Defend Trade Secrets Act of 2016 (“DTSA”) was enacted on May 11, 2016, after it was unanimously passed by the Senate and ratified by the House in a 410-2 vote. The federal Defend Trade Secrets Act of 2016 (“DTSA”) was enacted on May 11, 2016, after it was unanimously passed by the Senate and ratified by the House in a 410-2 vote. The DTSA is not retroactive, rather it is effective for all Read More

California Transfer On Death (TOD) Deeds

Effective on January 1, 2016, California Assembly Bill 139 enacted California Probate Code § 5600, et. seq., which permits an individual to transfer real property upon death using a revocable transfer on death (TOD) deed. Effective on January 1, 2016, California Assembly Bill 139 enacted California Probate Code § 5600, et. seq., which permits an individual to transfer real property upon death using a revocable Read More

Securities Issues For Startups: California Limited Offer Exemption Notice

There are many dangers in forming a company without advising an attorney, such as failing to file a securities registration exemption with the California Department of Business Oversight (DBO) and federal Securities and Exchange Commission (SEC). There are many dangers in forming a company without advising an attorney, such as failing to file a securities registration exemption with the California Department of Read More

Selling Your Business To A Financial Buyer Vs. a Strategic Buyer

Whether you want to sell your business next year or a decade from now, you will have two basic options for an external sale: the financial or the strategic buyer. Whether you want to sell your business next year or a decade from now, you will have two basic options for an external sale: the financial or the strategic buyer. The Financial Buyer The financial buyer is buying the rights to your future profit Read More

Handwritten Amendments To Estate Planning Documents: Last Minute Changes

Many individuals may believe they cannot amend their estate planning documents without involving an attorney. While this is not entirely true, it is extremely discouraged because any such amendments can be very ambiguous and incomplete, and subject your estate to litigation. However, you may not have the opportunity to contact an attorney to amend your documents if your medical condition is grave. Many individuals Read More

Are Unsigned Contracts Enforceable In California?

As an owner or employee of a business, you may frequently negotiate business deals with customers, vendors, and other third parties. After negotiations, parties may fail to actually sign written contracts, relying on each other’s word. As an owner or employee of a business, you may frequently negotiate business deals with customers, vendors, and other third parties. After negotiations, parties may fail to actually Read More

Market Pulse Quarterly Report Shows 2015 Ended With Strong Sales Of Businesses And Optimism Is Growing For 2016

The quarterly Market Pulse Survey published by the International Business Brokers Association (IBBA), M&A Source and the Pepperdine Private Capital Market Project showed that business sales remained strong in 2015 especially in the Main Street market. The quarterly Market Pulse Survey published by the International Business Brokers Association (IBBA), M&A Source and the Pepperdine Private Capital Market Read More