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Gold River California Estate Planning Law Blog

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?

Confused by new tax laws? A California attorney can help

It's the holiday season, and we'll be bombarded with ads for TVs and toys and other trinkets. But the minute the new year rolls around, Californians will face a new season with all new - and less fun -- advertisements: tax season.

And the 2019 tax season - in which we'll file taxes for our 2018 earnings - will have a whole new wrinkle since the passage nearly a year ago of the Tax Cuts and Jobs Act. This will be the first year for the new tax law, and a lot of things will look different.

Creating your estate plan can head off stepparent-child disputes

No, your children weren't thrilled when you divorced their mother. They were even less thrilled a year later when you married her.

But through it all, you loved them, and they loved you.

Revising estate plans when divorce is on the horizon

When it comes to estate planning in Gold River, very few people take into consideration what happens to their assets in the event of divorce. Although it requires them to think of ways to shield their assets from greedy relatives and probate court, it is often beneficial to include contingencies for divorce. 

From a financial standpoint, it may seem as if there is nothing to worry about if your marriage is still going strong. The future is not promised and impossible to predict. Divorce is one life event that can leave you reeling emotionally and financially. To prevent the dissolution of marriage from affecting your estate plans, consider the following pointers. 

Singer's estate an example of why you need an estate plan

Soul singer James Brown died Dec. 25, 2006, at age 73. His estate still hasn't been settled.

It's a cautionary tale of what happens when estate planning isn't done properly, and the repercussions are about to felt for the 13th year. His death opened the floodgates to a dispute that covers everything from probate laws to copyright regulations, as well as courts in both California and South Carolina.

If you're separated from your spouse, review your estate plan

When designer Kate Spade and chef Anthony Bourdain passed away earlier this year, they each died living apart from their respective spouses. The fact that they were separated had a significant impact on the administration of their estates.

Everything that has been written about Spade and Bourdain since their deaths indicates that they were on friendly terms with their spouses, working together as co-parents.

Don't take chances when creating your will in California

When you write your estate plan, you do it with the best of intentions to make everything easier for your family. Sometimes, it just doesn't work out that way. Instead of helping to guide your loved ones in a sad time, your estate plan could cause family discord if not handled properly.

Here are some ways your estate plan can reduce the chances of family disharmony after you're gone.

Even if you're not an instant billionaire, get help with tax laws

We've heard a lot of enormous numbers thrown about lately when it comes to lottery jackpots. There's been $1.6 billion. How about $620 million? They're mind-blowing and life-changing numbers.

They're also extremely taxable. While California doesn't tax lottery winnings, the federal government does, and you can expect the bill to be a hefty one.

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