Mark Lobb

FREQUENTLY ASKED QUESTIONS In May of 2018 the California Supreme Court published a ruling which gives clarity to the application of the prompt payment statutes as applied to construction industry contracts. The case focuses specifically on the application of a builder’s right to withhold funds owing to a subcontractor when a dispute has arisen between […]

Domestic v. Foreign Jurisdiction Issues and Analysis There is a surge in promoters selling foreign asset protection trusts, otherwise referred to as offshore trusts, to wealthy U.S. citizens and business owners. There are times when offshore trusts are useful but those instances are rare for a U.S. citizen. The utility in using offshore trusts increases

Only seventeen states in the United States of America permit self-settled trusts or what is more commonly known as an Asset Protection Trust (APT). A trust can claim residence (the legal term is “situs”) in any state as long as it follows the rules of that state. So when a client of any state is

When assets are funded into a trust, the distribution of those assets to the beneficiaries is guided by the language of the trust. Most trusts provide very specific guidance to the Trustee with respect to how and when the assets are to be distributed. For example, “$5,000,000 shall be distributed to the beneficiaries pro rata

Many business owners underestimate their legal exposure when it comes to running their businesses. Lawsuits can land anytime and from anywhere: from a disgruntled employee, client, landlord, consumer, lender, the government, or from an almost infinite array of characters. These lawsuits may evolve into a judgment, and if your business cannot pay the judgment, then

With a few exceptions , all of your assets are subject to collection by your creditors. The Nevada Asset Protection Trust (“NAPT”) is a separate entity under state law; therefore, your creditors cannot take assets owned by the NAPT because they are not your assets. Although it sounds too-good-to-be-true, it isn’t. It is Nevada statutory

It is easy to legally form a corporation in California. You simply file Articles of Incorporation (“Articles”) with the Secretary of State and pay the appropriate filing fee. The filing of the Articles legally creates your corporation at which point you may conduct business in California. However, it is important to file Articles which reflect

California continued the attack on Proposition 13 in the last election through a few different propositions. Proposition 19 was one of the culprits. Proposition 19 contains two important changes in California property tax assessments, one of which will financially impact many estates if action is not taken immediately. The two primary provisions in Proposition 19

The Corporate Transparency Act (“CTA”) provides for the establishment of a beneficial ownership registry within the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”). It requires non-exempt domestic and foreign companies to disclose information regarding their beneficial owners. The CTA’s legislative objectives are to foster greater corporate ownership transparency and to hinder criminals from utilizing