property taxes Archives - Page 4 of 4

How Your Attorney Can Help Plan and Document Business Acquisitions

April 17, 2023April 17, 2023 by socialspice20

Attorney planning and documenting business acquisitions on pen and paper

Gaining business acquisitions requires experience and special skills. It is not an entry-level endeavor. To start, a buyer needs to identify potential targets that fit the buyer’s criteria. This requires researching businesses in an industry or geographic area or looking through a list of specific businesses that are known to be available. Once potential acquisitions have been identified, with due diligence, the buyer will evaluate the business’s financial and operational performance and its legal and regulatory compliance. This involves reviewing financial statements, contracts, customer lists, intellectual property, and other relevant information.

5 Reasons You Need an Attorney to Draft Shareholder and Buy-Sell Agreements

April 3, 2023April 3, 2023 by socialspice20

shareholders shaking hands over a buy-sell agreement

When preparing a shareholder or a buy-sell agreement, it is important to have an experienced attorney to guide you through the process. Having an attorney that specializes in corporate law can make the process of drafting these agreements much easier, as well as protect you from any legal complications. In this blog post, we will discuss five reasons why you need an attorney to help you draft shareholder and buy-sell agreements.

Property Taxes: What to Consider

March 21, 2023March 20, 2023 by socialspice20

Under California law, local governments are allowed to levy property taxes on real estate assets such as land, buildings, and other structures. Local officials use various factors, such as the size and condition of the property, its location, and its current market value, to assess the property’s value. They then base the property tax on this assessed value. You can challenge that assessment, as discussed in this post

Can You Sue a Trustee for Negligence?

October 3, 2022October 3, 2022 by socialspice20

In many situations where family, friends, or even less acquainted people are asked to make key decisions for others, there is often discord and even out-and-out hostilities. It may be because of the intention, communication, outcome, or many other parts of a chain of events. When the stakes are high, the conflicts can be greater and more heated, especially when significant amounts of money or property are involved.

This is exactly the situation when trusts are in place.

A person, usually known as the grantor, sets aside a large pool of resources. Then, rules are written on how to distribute and dispose of those resources. This is the trust document. The person who enforces the parameters of the trust is called the trustee. Their goal is to execute the trust as the grantor wished and organized. Problems often arise if the trust is not clearly written or facts change, making the initial execution nearly impossible. In the worst case, problems occur because a trustee intentionally breaches a duty to the trust.

Difference Between Probate, Trust, and Estate Lawyers

September 19, 2022September 19, 2022 by socialspice20

We are lucky to live in a great part of the United States, the country that is still the most stable and prosperous in the world. We are fortunate to have a great entrepreneurial spirit: success often comes easy to those who focus and work hard. We applaud that success and have focused on providing professional services to support that hard work and material success by protecting your assets and helping you to see that it is distributed according to your wishes. That will at minimum take the work of estate lawyers, often trust and probate lawyers as well. Life is unpredictable, full of twists and turns, and things happen.

How Much Time Do You Have to Complete a 1031 Exchange?

September 6, 2022September 5, 2022 by socialspice20

Consider this scenario: You hear the market is hot, and you decide to swap out a property you own for a new one. Possibly to create more revenue, perhaps because it’s closer to you geographically, or because you want less maintenance to perform. In any of these situations, you have a limited time to act once you sell the property you are exiting, and it is not always easier to close on a new property. Read the following to learn about the specifics of the 1031 Exchange time limits.

Does a 1031 Exchange Avoid California Taxes?

August 15, 2022August 15, 2022 by socialspice20

Two people trading money for house in a 1031 exchange. Contract on table.

Managing real estate investments in California is fraught with difficulties. Having to worry about tax liability while you are dodging legislative hurdles – rent control, local government planning commissions, and short-term eviction bans – counters most wealth-building strategies. While we can help with those issues too, this article is focused on capital gains tax relief. Particularly how not to get burned by taxes when closing out a real estate position with a 1031 Exchange.

Red Flags When Purchasing a Home

February 3, 2020 by socialspice20

Purchasing a home can present many issues that must be acknowledged beforehand in order to prevent future issues. While in the process of looking for a home to buy, there are a number of things to look out for financially, psychologically, and physically when viewing any potential home.

Red flags can give any homebuyer insight into whether the decision to purchase a specific home is worth it. Circumstances associated with both the selling party and the buying party can give some insight into the home itself.

Here are some red flags to look out for when purchasing a home:

Different Types of Real Property Taxes and Fees

July 21, 2020January 6, 2020 by socialspice20

Taxes invade almost every aspect of our daily lives and property ownership is no exemption. When investing in such a large asset it is important to understand the different types of real property taxes and fees associated with the purchase. Although the process of buying a home is often handled by a real estate agent, it is important to know the ins and outs of each tax and fee associated with buying a property.