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In a divorce with no children and no prenuptial agreements, is it possible for the wife to keep the primary home valued at $850,000 with a mortgage balance of $292,000, if the husband keeps a rental property valued at $260,000 with a mortgage balance of $35,000, another property valued at $275,000... View More 
answered on Apr 14, 2025
Yes, is it possible for the wife to keep the primary home valued at $850,000 with a mortgage balance of $292,000, if the husband keeps a rental property valued at $260,000 with a mortgage balance of $35,000, another property valued at $275,000 with a mortgage balance of $75,000, and a 401K worth... View More
I have a contract issue related to Roblox development. We made a contract where it was clearly stated that any work put into Bloxstar Corporation would be owned by us. However, a former collaborator, who signed the contract, has left and is now claiming that the UI work they did is theirs. The... View More
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answered on Apr 10, 2025
First, review the contract itself. You mentioned it clearly states that any work put into Bloxstar Corporation is owned by the company. Check for specific clauses like an “assignment of rights” or “work-for-hire” provision. These typically mean that any contributions (like UI designs) made... View More
I have a retail business in California under an LLC with four members. We deferred sales tax payments from previous quarters due to the business not generating any revenue and have a payment plan set up with the CDTFA. If we have to shut down the business, will the sales tax balance affect the... View More
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answered on Apr 9, 2025
The sales tax liability is usually considered a debt of the LLC, not the individual members, as long as the LLC has been properly maintained (e.g., keeping business and personal finances separate, filing required paperwork, etc.) However, there are situations where the CDTFA could attempt to hold... View More
I am currently considering a change in the management of my LLC (partnership) agreement where the manager changes from my mom, who is a partner, to myself. The LLC agreement has not been updated since it was originally drafted, but it does contain clauses specifying procedures for notifying changes... View More
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answered on Apr 2, 2025
Regarding the LLC agreement amendment, I would advise to review the agreement and follow the procedures outlined there for management changes. Even if an amendment isn’t required, it’s good practice to document the decision in writing (e.g., through a resolution or updated management... View More
My mother owned shares with two companies, and my brother and I are listed as beneficiaries. I started the process to transfer these shares to us within the companies after her passing. I am also the Successor Trustee of the Family Trust. Despite having filled out all required forms and both... View More
answered on Mar 31, 2025
Very few people like dealing with Medallions! Most banks and credit unions stopped issuing Medallions years ago or, if they still do, they will only issue them for people who bank at their financial institutions. Alternatively, if you have an established business relationship with a financial... View More
Is it legal for my car shipping brokerage to send offers of employment to individuals working for competitors via social media, considering that there are no existing employment agreements or non-compete clauses with these employees?
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answered on Mar 31, 2025
Generally speaking—yes, it is legal. However, one potential legal risk to consider is a claim of “tortious interference with contractual relations” or “intentional interference with prospective economic advantage.” For this to apply, the competitor would need to prove that your actions... View More
I am involved in a class action lawsuit against the builder as the second owner of my house. The lawyer mentioned that the distribution of any settlement would be 80% to the first owner and 20% to me as the second owner. Am I entitled to a larger percentage, and what factors might influence this... View More
answered on Mar 28, 2025
Yes, possibly.
If the same lawyer is representing both the new and old owner he may have a conflict of interest and should not be deciding how much you should get!!
If that is the case, you should immediately seek independent legal advice from a separate construction attorney !!!!!!!
I've been using an accountant recommended by my ex-wife since 2014 to handle the taxes of my small business, a C Corp/Electrical Contractor. After recently filing an extension for 2023, she suddenly informed me she's too busy and I should find another accountant. I suspect financial... View More
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answered on Mar 22, 2025
First, I would suggest gathering all the documentation you have—tax returns, bank statements, invoices, payroll records, and anything else tied to your Corp’s finances since 2014. Make digital backups and store them somewhere safe.
Next, find a new independent accountant. A forensic... View More
I live in California and am becoming a mobile notary and plan to expand into loan signing services. I'm wondering if I need to form an LLC or another type of business entity for my notary services or if there's anything specific to consider for liability or business structure when... View More
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answered on Mar 21, 2025
You can legally operate as a mobile notary and loan signing agent as a sole proprietor without forming a business entity. However, forming an LLC could offer significant advantages, particularly for liability protection and professional credibility, which are especially relevant given your plans to... View More
I am a licensed professional clinical counselor in California and I'm thinking of opening a professional corporation solely under my license. I plan to supervise registered counselors eventually. Are there specific words or terms that must be included in the company name, similar to how LMFTs... View More
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answered on Mar 21, 2025
There are indeed specific naming requirements you must follow under state law. The California Business and Professions Code, which governs professional clinical counselor corporations, mandates that the name of your corporation reflects its professional nature and purpose.
Specifically,... View More
I have already registered my business and I'm looking to obtain a business license for a direct cremation entity in Riverside County, CA. I need guidance on which agencies or departments to approach for the license, information on complying with local health and safety regulations, and help... View More
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answered on Mar 19, 2025
To obtain a business license for a direct cremation entity in Riverside County, California, you must apply to the Cemetery and Funeral Bureau, which oversees crematory licenses. Follow the link to submit your application online: https://cfb.ca.gov/licensee/app.shtml
Given crematories... View More
What do I need to put in place to ensure my wife can continue to run our company business if I die? I am currently a sole proprietor contractor with no will yet, although I plan to have one soon. My wife already has power of attorney.
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answered on Mar 18, 2025
As a sole proprietor, all of your business assets are your assets. There is no separate entity. At a minimum you need a will that leaves your business assets (or everything you own, if that is your desire) to your wife when you die. But you should seriously consider creating a revocable living... View More
What do I need to put in place to ensure my wife can continue to run our company business if I die? I am currently a sole proprietor contractor with no will yet, although I plan to have one soon. My wife already has power of attorney.
answered on Mar 18, 2025
There are a number of ways a person can take over another person's business, including through a Trust or Will, by incorporating or forming an LLC and having specific language in the legal documents, etc. The law in California is that anyone with "probatable" assets valued at more... View More
I am a co-founder of a California C Corporation startup, and I discovered that the company tricked me into working for free without any signed documents or issuance of shares. My business attorney informed me that I should have been paid under California law. The company is ignoring multiple... View More
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answered on Mar 13, 2025
Based on the circumstances described, your situation touches on both employment law and intellectual property (IP) principles.
California law requires employers to pay wages for work performed. If you were tricked into working without pay, you may have a claim under the California Labor... View More
I am assisting a customer who is a Realtor, and they are curious about why they might be advised to purchase their own General Liability and E&O insurance policies if they are already covered under their Broker's policies. They want to understand the benefits or situations where having... View More
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answered on Mar 13, 2025
Individual General Liability insurance can provide additional protection that may not be covered under the Broker's policy. For example, the Broker's policy might have exclusions or limitations that do not fully protect the Realtor in certain situations. Broker-provided policies typically... View More
I was the Chief Marketing Officer and a 25% owner of a company, with no prior written agreement about stock ownership after departure. I never saw or approved an SBA loan taken by the company. Since I was terminated a year ago and signed releases, my former partner is now asking me to sign a... View More
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answered on Mar 13, 2025
You are not obligated to sign a personal guarantee for the SBA loan unless you explicitly agreed to do so in a prior agreement. Since you mentioned there was no prior written agreement about stock ownership after departure and you never saw or approved the SBA loan, you are not legally bound to... View More
I signed a contract with another party to open a business, and the business license is in my name, registered with the Secretary of State in California. The business is located at my address. However, I haven't heard from the other party since November 26, 2024. There are websites running with... View More
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answered on Mar 10, 2025
Assuming you have a valid contract (oral or written) between you and your partner, you can file a civil action for breach of contract. To prove a breach of contract claim you would need to establish the existence of a contract, your performance or excuse for nonperformance, the other party's... View More
My corporation, HUNGRY FOR SUCCESS ATHLETICS INC., has been in "Suspended" status since April 2nd, 2024. I am unsure of the reason for the suspension and have not yet taken any steps to resolve it. I would like to understand the timeline and process to "Revive" the corporation... View More
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answered on Mar 10, 2025
You can find all the necessary information at https://www.ftb.ca.gov/help/business/my-business-is-suspended.html
The suspension is most likely due to a failure to pay taxes, as indicated by the “Suspended – FTB” notation on the Secretary of State’s records (FTB stands for Franchise Tax Board).
I possess a countersigned share certificate for Argonaut Insurance Company dated 1957, listing my grandfather as the owner with a par value of $1 per share. The company was sold to Teledyne, but I have documentation proving ownership. When I contacted them, they mentioned the shares should have... View More
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answered on Mar 3, 2025
Generally speaking, that's what Broker-Dealers do (stockbrokerage firms). give a large firm a call and ask to speak to a broker and tell him what you need. If you open an account with them for the proceeds, they'll usually do it for free. If you have problems, you can always re-post here.
I am the beneficiary of a trust in California, set to inherit a membership in a multi-member LLC. I want to take title of this membership interest with my wife as community property. The trust names me as a beneficiary but doesn't require the LLC membership to remain solely in my name. The... View More
answered on Feb 28, 2025
It is a common mistake for a beneficiary (the person who benefits from a trust by receiving an inheritance) to believe that an asset belongs to them even though it is still located in another person’s trust. But, while the asset is in another person’s trust, the asset belongs to the trust. It... View More
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