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August 2016 Archives

What To Expect From Divorce Mediation

While many people have probably heard of mediation, it may not be exactly what they pictured. For most couples going through a divorce, a divorce mediation is likely in their cards. In many states, mediation is required before a couple can proceed with litigation. Some people may think this is just another situation for negotiations to take place. A "counselor" can help talk through any differences the divorcing parties may be facing. However, this is not the case and reality of a divorce mediation.

Super athlete, Kobe Bryant, funding business formations

The ability to recognize potential success in entrepreneurial ventures is a personal passion of superstar basketball pro, Kobe Bryant. He and several others have apparently set up investment funds meant to help prospective entrepreneurs in their business formations. Bryant says he has a real flair for spotting business talent and wants to help those he recognizes make their dreams come true. California entrepreneurs may be interested in his latest endeavors.

Divorce Can Be Seasonal Says Study

Exactly when people tend to file for divorce the most is not an exact science. There are a multitude of factors for each individual divorce situation. Every married couple's circumstance is unique and of course can't be pigeon-holed into exact seasonal trends. However, data can at least provide general spikes in when it is most common. A recent study has done just that and gathered and analyzed data showing these seasonal trends. A study conducted by University of Washington sociologists found a biannual spike in divorce filings. The study reviewed data in Washington between 2001 and 2015. The results?

Avoid these estate planning pitfalls

Many California residents are concerned with protecting their assets and creating thorough plans for the distribution of inheritance and other related issues should they die or become incapacitated. Those who want to avoid common estate planning mistakes may be interested in the following recently published advice. A common, yet major error is failure to execute a plan.

Revocable trusts may create false sense of security

Asset protection and minimization of financial risk are important estate planning topics addressed by many in California. Included in many plans are revocable trusts, which some consider a means of asset protection, while others say this is not the case. Because such matters can be complicated, they are often best addressed through knowledgeable counsel.

Estate planning important topic for young and old in California

Discussing mortality is not always a favorite subject. Many people find the topic uncomfortable. However, in California and beyond, both young and old alike may benefit from gaining an understanding about the laws that govern estate planning matters before it is too late. When a person dies with no estate plan in place, family members may face many challenges during a lengthy probate process.

Impact of Divorce On Estate Planning

The road to getting a divorce finalized is different for every person. Whether your divorce was quick and efficient because you and your spouse were able to be amicable and cooperative or the divorce was drawn out for two years through intense divorce litigation, you are finally done with it. However, it is very important to understand that a finalized divorce can have legal implications on other areas of the law. One of them is estate planning.

Where to turn for business formations help in California

Launching a new business can be an exciting adventure in a person's life. California entrepreneurs are sharing their dreams with the world by starting new businesses throughout the state. Some businesses are located in actual brick and mortar buildings, while others exist in a virtual online world. Either way, many new company owners find it helpful to seek guidance during the business formations phases of their enterprises.

Even after careful estate planning, family feuds sometimes occur

Rock star Frank Zappa died more than 20 years ago. Apparently, even though there had been an estate planning process, his children have still become engaged in an ongoing battle with each other regarding the family business, rights to certain music and merchandise and various other aspects of their father's legacy. Mrs. Zappa, the adult children's mother, died in 2015, but not before making some very strange statements to one of her daughters. Some in California may be facing similar issues.

Without estate planning, assets may not go to heirs of choice

Some estimates suggest that more than half of all people in the nation die without any set plan in place to protect their estates. Apparently, this has created problems for many families in California and other states when distribution of assets come under the probate process. Those who wish to avoid such issues will want to consider seeking experienced estate planning guidance.

Community vs. Separate Property In California

One of the biggest concerns a spouse has when seeking a divorce is how assets and liabilities will be divided. There is much at stake for couples, especially those with significant assets. Real estate, retirement accounts and savings are all types of property that are considered in property division. Most states use the theory of "equitable division of property." In general, this means there is no set split for how property is divided. However, California is a "community property state." This means that any property deemed community property will be divided fifty-fifty. The line is set more in community property states.

Getting A Divorce As Your Child Goes Back To School

Over the summer you and your spouse have come to the conclusion that a separation and divorce is best for the family. Your extended family knows about this decision as well as some close friends. But now with school starting soon, you are worried about what this means for your child. Will they be embarrassed and teased by their friends? How will the teachers react? Should you let them know about your situation now? These are all valid worries and concerns as you prepare for back to school season.

Children in estate planning battle with decedent's grandson

The widow of a former sports team owner died in April 2016. Since that time, her children have become engaged a bitter estate planning battle with the decedent's grandson. The situation, which is currently taking place outside California, includes the very body of the mother/grandmother who passed away.

Avoiding family stress in the estate planning process

Many California estate owners hope to one day pass their properties and assets on to their children and other loved ones. In order to protect their assets and document their wishes and goals concerning such matters, many enter a process to develop carefully crafted plans. So as to avoid family discord and potentially stressful situations, it is often best to seek skilled estate planning guidance.

Where to turn for business formations assistance

Small businesses, self-owned businesses, and, at the other end of the spectrum, huge multimillion dollar companies are finding their way into the California marketplace. There are many of people who have great ideas and envision what they think could be lucrative business opportunities, but some will take it to the next level and seek advice about how to actually bring those ideas to fruition. When that happens, challenges can arise in the business formations stage of company creation that are best addressed with experienced guidance.

Understanding various types of trusts when planning an estate

Many California residents have taken steps to protect their assets, document their final wishes and provide for their loved ones' futures by executing thorough estate plans. A well-designed estate plan often includes trusts of some sort. Since there are several different types of trusts, and each person's situation is different, it is advisable to seek clarification and assistance in determining which type best suits a particular estate owner's needs.

Avoiding complications in estate planning

Many people in California and elsewhere do not realize the importance of planning their estates. There are countless stories of those who have died without having done any estate planning, thus wreaking havoc, chaos and stress among family members in the weeks and months that follow. Although it is not always comfortable to speak of that which is inevitable for all people, it is necessary for those who wish to provide for their loved ones and protect their assets.

Information regarding limiting liabilities in business formations

Most California entrepreneurs hope to achieve their immediate and long-term goals when it comes to launching and maintaining new business ideas. During business formations, many important topics are addressed, often including ways to limit liabilities and protect the future bottom line. Avoiding potentially litigious situations may be easier if one acts alongside experienced representation from the starting point.

Managing property in California through trusts

Many California residents develop thorough estate plans to protect their assets and provide for their loved ones' future financial security. Some include trusts as a means of managing their property, in the event that they should no longer be able to do so because of death or mental decline. It is crucial to gain understanding of the various types of trusts, as well as the process by which they end, before taking steps to add such documents to one's estate plan.

Estate planning often crucial to protect assets and plan future

Many California residents understand the importance of naming another party or parties as authoritative voices in making financial or medical decisions should they themselves become incapacitated and unable to do so. Careful estate planning is a means to solidify such wishes, protect assets and help loved ones' plan their future financial security. Although, some people do not like to discuss their own mortality, others realize that dying without an estate plan in place can lead to stress and complications for family members later.

What Is Getting An Annulment?

You may have heard of someone seeking an annulment shortly after getting married. But how is this different from getting a divorce? A dissolution of marriage and an annulment are two very different legal actions. A divorce recognizes that there was a legal marriage and now one or both parties are seeking to dissolve that marriage. However, at the root of an annulment is claiming the marriage was never legally recognized. Therefore, it did not exist. You may have heard of the term "null and void." In other words, the marriage is void.

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