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Lawyer Next Door2020-11-09T15:44:05-08:00

Lawyer Next Door

Professional Legal Insights and Information

BOIR Filing

BOIR Filing New Federal Filing - Beneficial Ownership Information Report (BOIR) If you have a small business, no matter when it was created, there is a new Federal report, the Beneficial Ownership Information Report (BOIR), that needs to be file [...]

CTA Requirements

Corporate Transparency Act Corporate Transparency Act Filing Requirements There are new CTA requirements. As of January 1, 2024, a new federal filing requirement known as the US Corporate Transparency Act (CTA) requires Corporations, Limited Liabi [...]

New Revenue Ruling

New Revenue Ruling No basis step-up for assets of irrevocable grantor trust not included in grantor's estate. The IRS recently released a new revenue ruling through an advance version of Rev. Rul. 2023-2, which concludes that the basis adjustment [...]

What is IHSS

What is IHSS? Keeping the Disabled, Blind and Over 65 Safe At Home From the CANNR website... What is IHSS? IHSS is a statewide program administered by each county under the direction of the California Department of Social Services. It provides th [...]

Stepped-Up Basis

Stepped-Up Basis The Stepped-Up Basis Benefit Stepped-up basis is a tax provision that allows heirs to reduce their capital gains taxes. When someone inherits property, real or personal, businesses, and investments, the IRS resets the market value [...]

Residence Trust

Residence Trust Qualified Personal Residence Trusts - What They Do and What They Don't Do In this article, we’ll define and explain the pros and cons of a Qualified Personal Residence Trust (QPRT), answering questions like, “What is a Qualified P [...]

SLAT

SLAT – Spousal Limited Access Trust The Hot New Estate Planning Technique for 2021 The present global circumstances of economic and political uncertainty, a high federal estate tax exemption, and a low-interest rate environment merit a focused exa [...]

Business in an IRA

Business in an IRA Rules for Owning a Business In An IRA Suppose you could run a small business without having to worry about taking a chunk of your profits out of it every year to pay income taxes. Suppose further that you could buy and sell prop [...]

Legacy Trust

Legacy Trust What is a Legacy Trust? A legacy trust is an irrevocable trust that lets you set aside assets for future generations and functions as a second, protected estate. As your “second” estate, the legacy trust affords you some degree of ass [...]

Property LPs

Property LPs Benefits of Property LPs Over Property Trusts The benefits of transferring your properties into your LP instead of your Trust, the reasons are as follows: Due to the passing of California Proposition 19, trusts no longer protect you [...]

Effects of Prop 19

Effects of Prop 19 The Effects of the Passage of Proposition 19 on the California Homeowner Proposition 19 has passed. What are the effects of prop 19 on our clients? We see four practical effects, good and bad, of this law for California property [...]

NV Homestead Law

NV Homestead Law Nevada Homestead Law: Tips and Hints NRS 115 is the chapter in the Nevada Revised Statutes that concerns the NV homestead law. We hope this brief summary of the NV Homestead Law will be of assistance to you. Procedures for Wha [...]

Small Estate In CA

Small Estate In CA Small Estates In California: 2020 Update A simplified procedure is available under California probate law to settle estates with assets that do not surpass a certain threshold, making it a “small estate.” In a small estate, y [...]

Types of Capacity

Types of Capacity Testamentary Capacity verses Contractual Capacity Two primary types of capacity include Testamentary Capacity and Contractual Capacity. Each differs in a unique way.Testamentary CapacityTestamentary capacity refers to the ability [...]

PPP Basics

PPP Basics Basics on the Payroll Protection Plan (PPP) While the Payroll Protection Program application process may seem overwhelming, there are some PPP basics that can help you through the process. What is the Payroll Protection Program (PPP)? [...]

Dementia Care

Dementia Care Dementia care begins with custodial care: routine personal care that does not require the attention of trained medical staff. Intermediate care is the step beyond that, when medical care is necessary, but not constant; and at the lev [...]

Inherited Roth IRA

Inherited Roth IRA Understanding the Tax Ramifications of an Inherited Roth IRA A common misconception of an inherited Roth IRA is that upon the account holder’s death, his or her beneficiaries do not need to pay any taxes on the inherited retire [...]

Gift Tax Planning

Gift Tax Planning A Way of Protecting Your Estate from Taxes, Creditors, and Others Gift tax planning can help to ensure that your state stays with your family and not the government or creditor. Here are the basics about Gift tax planning. See o [...]

Secure Act of 2020

The Secure Act of 2020: What Can We Expect Now? In the last 3 and a half years there have been two major tax law changes having to retirement and 529 accounts. Of course, as with any tax changes by our dysfunctional government, they come in the 11 [...]

Probate Emergency

Ex Partes or Emergency Hearings in Probate Matters On occasion, a client calls me and informs me that he or she is faced with a pressing probate emergency in one of our cases. This is particularly difficult because as a general rule, in probate, w [...]

Probate Pitfalls

Potential Pitfalls of Probate Probate pitfalls can make a complicated process a little more daunting. One of the most difficult situations, that we encounter as attorneys in probate cases, happens when a potential client calls in and says that some [...]

Title Surplus

Title Surplus Funds From Foreclosure Title surplus funds or “Surplus funds” or “surplus” typically refer to funds remaining after payment of all disbursements required by the final judgment of foreclosure and shown on the certificate of disbursemen [...]

VA Look Back

VA Look Back 2018 Net Income Rules for Aid & Attendance, Housebound, and Basic Eligibility In September of 2018, the Department of Veterans Affairs (VA) released new rules for non-service connected disability pensions. These are needs-based p [...]

Holographic Will

Holographic Will pursuant to CA Probate Code Section 6111 What Is a Holographic Will in California? Any Will that has been written out by hand and signed by the testator is a Holographic Will; compared to the Will created by an Attorney which wou [...]

Estate Recovery

Estate Recovery Program “Straight from the horse’s mouth – Department of Healthcare Services” What is Estate Recovery? The Medi-Cal program must seek repayment from the estates of certain deceased Medi-Cal members. Repayment only applies to benefi [...]

Probate Details

Probate Details Probate details can make an already difficult situation feel overwhelming. The specifics for probate accounting are crucial to probate cases and often require exact numbers; not always as straightforward or as easy as they may see [...]

California LLC

Is the California LLC the BEST WAY to Protect your business or yourself in California? Probably Not. This is a controversial issue, with Proponents and Opponents on both sides. This is my opinion after researching the topic. However, let’s first [...]

Undue Influence

Undue Influence in Estate Planning Estate planning is a complicated process where different family members have to interact with each other in new ways. Family members, during this process, can be caught in vulnerable positions and taken advantage [...]

Property Transfers

Save Taxes on Property Transfers CAN YOU TRANSFER YOUR PROPERTY TO ANOTHER WITHOUT THE PROPERTY TAXES BEING RAISED? On June 6, 1978, the state of California voters approved a proposition known as proposition 13. This was created to stop the rapid [...]

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      • Sacramento
        3230 Ramos Circle
        Sacramento, CA 95827
      • Lincoln
        433 F Street
        Lincoln, CA 95648
      • 916-369-9750

      Hours

      Mon-Fri: 8am-5pm
      Sat-Sun: Closed
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