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Our firm has experienced many clients move their companies away from California in recent years. Typically the shareholders focus on the logistics of the move but do not fully grasp the tax consequences before making the move. The tax consequences for a company moving operations away from California, either partial or total, are anything but […]

The following article regards some California employment laws that took effect in 2018 and recent amendments thereto, as well as some laws that will take effect in the near future that may affect your business. We advise you to review the contours of these laws carefully and alter your policies accordingly. We are available to

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