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Gold River California Estate Planning Law Blog

What you need to know about selling your California business

You conducted a lot of research, consulted a lot of experts and created a business plan when you decided to open your business in California.

Why should you be any less prepared when you decide to sell your business?

Can you write your will by hand in California?

If you have an elderly relative who is a California resident, you may worry that their handwritten will might not hold up in court. The good news is that our state recognizes the validity of holographic -- handwritten -- wills.

But you may want to ask a Gold River estate planning attorney to review the document to make sure that it does indeed conform to all stipulations of California law.

What trust options do you really have?

You may not always feel a sense of urgency to go out and do an estate plan. Once you have a child, however, your priorities shift, and thinking ahead to the unthinkable may come to mind.

When formulating an estate plan strategy, several options for setting aside money for your children exist. A trust is a popular way to allocate money to specific people, and in the case of minor children, that money can stay in an appointed guardian's care until that child reaches a certain age. What types of trusts exist and what do they mean?

Are you prepared to negotiate this contract on your own?

You've done all of your interviews, fact finding and due diligence and finally have chosen a vendor to work with your California business. Now comes the real challenge: negotiating the contract.

This is a partnership between the two of you, one that should be mutually beneficial to both parties. But just how do you know that the contract is fair to both sides and the start of a mutually beneficial relationship?

Some tips to avoiding probate in California

We hear the word a lot - probate - but what does it really mean?

Put simply, it's the process in California and throughout the United States when it comes to determining the validity of a will and then acting upon that will to distribute the assets of a deceased person. But it isn't usually quite that simple. Probate involves going to court, having a judge appoint an executor and sometimes hear testimony and devoting time and money that probably doesn't need to be spent.

Contracts help to protect your California business

On television and in the movies, we see business being conducted with a handshake agreement, but that's not the way it really should work in the business world.

Instead, we have contracts, which are legally enforceable agreements between parties. You don't have to sign on the dotted line of a piece of paper that says CONTRACT at the top for it to be enforceable. In fact, a purchase order or a bill of sale are contracts. You agreed to buy something; the purchase order is the agreement to pay.

Does owning multiple businesses mean multiple LLCs in California?

You started your business in California and formed a limited liability company (LLC) to go along with it. It was a success - so much so that you want to create a spinoff business. And you have an idea for maybe a third business, too.

But you have a big question: Can they all operate under one LLC? And should they?

Estate planning considerations for divorce

All California residents need an estate plan. You should make one while you are still relatively young, but you will need to update these documents regularly throughout your life. One of the most critical times to revise a will and trust is if you ever divorce your spouse. 

You hope you will never divorce your husband or wife, but anything can happen in life. There are plenty of documents you need to fill out and submit during a divorce, but you should never neglect your estate planning documents once the separation is final. 

An estate plan could be the perfect holiday gift for Californians

Here's a holiday gift you probably never thought of giving: an estate plan.

What better gift can there be, though, than peace of mind for your loved ones that you have taken care of everything they'll need should you become injured, ill or pass away?

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