Year: 2025
Common profit-sharing disputes between business partners
Profit sharing is a crucial component of any business partnership. When profits are not divided fairly or when expectations are unclear, disagreements typically follow. These disputes can quickly erode trust among clients and shareholders, as well as the overall...
3 reasons why you shouldn’t name your adult children as executors
Naming one or a couple of your children as executors of your estate may seem like a practical idea. Most of your assets will likely be passed on to them, and you believe they are the best ones to carry out your final wishes. While involving your children may seem like...
When should adults consider drafting powers of attorney?
People in different circumstances require different estate planning documents. Wills and other testamentary instruments are important for those with valuable property and dependent family members. Advance directives discussing the possibility of incapacitation can...
Why value is not always measurable in dollars in an estate plan
One way that many people think about their estate plans is in terms of dollars. Let’s say they have two children, and they want to treat each of them equally when they die. They may add up the different assets they own to ascertain the overall value. Then they find a...
Answers to questions you may have after a loved one passes away
Mourning a loved one is already an emotional process. When questions or concerns about the property they left behind arise, it can escalate your stress. The right answers can relieve some of your worries and give you the information you need to move forward after your...
Examples of self-dealing in business
“Self-dealing” happens when someone in a position of trust uses their role to benefit themselves instead of the business. This often involves company directors, officers or partners. These individuals have fiduciary duties, meaning they must act in the best interest...
The importance of succession planning
If you own a business, the income from it will likely form a significant part of your estate. At least it will right now. If you were suddenly left incapable of running things or were to die without warning, then the future of this income source could be in jeopardy....
What is testamentary capacity?
Testamentary capacity refers to a person’s legal and mental ability to make a valid will. In California, this means the person must understand what a will does, know what property they own and be aware of who their heirs are. A person does not need perfect memory or...
When should you review your estate plan?
Creating your estate plan isn’t a one-and-done event. Instead, it’s the start of a process that continues until you die. Even though most people don’t want to think about these final affairs, you mustn’t forget to review your estate plan once you have it set. At a...
Remedies for breaches of business contracts in California
When a business contract is broken, it can lead to serious financial and legal consequences. In California, the law offers several remedies to help the non-breaching party recover losses or enforce the terms of the agreement. Below are the most common remedies for...