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Estate Planning News
The Mere Violation Of A Technical Rule Has Often Been Deemed Sufficient For Legal Action And Recovery
Businesses in California are facing, among other things, 100-400% increases in workers' compensation premiums, increasing employer mandates, and high tax and regulatory burdens. Unfortunately, a certain litigation strategy threatens many companies in an environment ripe for abuse. California's Unfair Competition Law is unique in that it allows anyone to sue businesses for alleged unfair business practices, even if they have not directly incurred the alleged wrongdoing, and even if no one was actually harmed. The mere violation of a technical rule has often been deemed sufficient for legal action and recovery. For example, small nail salons are being targeted for using the same bottle of nail polish on more than one customer and a motorcycle shop was sued for abbreviating the words "on approved credit" (OAC) on a print ad. This shift from traditional tort law requirements, such as proving actual injury, has contributed to an atmosphere that is most appealing to practitioners of the art of shakedown. Some law firms threaten small businesses with suits unless they settle to avoid exorbitant fees and costs and limit risk of an unjust, arbitrary action. Many of the businesses targeted by these unfair competition suits or claims are small, minority owned businesses guilty, at most, of minor, technical, or administrative violations, often unknowingl
Estate planning is a process to consider alternatives
Good estate planning is more than just a simple Will. Estate planning also typically minimizes potential taxes and fees, and sets up contingency planning to make sure your wishes regarding health care treatment are followed.
On the financial side, a good estate plan coordinates what would happen with your home, your investments, your business, your life insurance, your employee benefits (such as a 401K plan), and other property in the event you became disabled or if you die.
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Definition:
Something written in-between; often a change to a typed document that is made by crossing out words and entering in replacement words. Never change an executed will or trust by interlineation.
Personal Property
Definition:
Movable property, including furniture, antiques, automobiles, business equipment, cash and stocks. Compare with Real Property.
Transfer Tax
Definition:
The combined Federal Estate and Gift tax. A single exemption credit applies whether the property was transferred during a person's lifetime (gift tax) or is held by a person at the time of his/her death (estate tax).
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