Archived
Will my brother lose his complete medi-medi benefits if I name him as trustee of my living trust if I become incapacitated.
Michael's answer
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Answered on March 19, 2015
As a trustee your brother wouldn't be able to use the trust assets on himself. So this wouldn't affect his medi-Cal or other public benefits. You...
What does "Knowing and Voluntary Waiver of Unknown Claims" pertain to in Settlement Agreement ?
Michael's answer
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Answered on March 19, 2015
This is a really common clause in a settlement agreement. The waiver means that you are waiving any right to bring a future action against the...
Do i need to obtain a ca SOS file number to file form 565 for a partnership return?
Michael's answer
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Answered on March 19, 2015
There isn't a requirement to file a certificate of partnership with the secretary of state. I don't think it is a bad thing to do, but for your...
Archived
Tax Questions: Do I need to claim "additional income" for relative?
Michael's answer
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Answered on March 19, 2015
Probably not because there isn't a sublease involved and you're not making a profit off of it.
Archived
California FTB pursuing online retailers who drop ship to California customers?
Michael's answer
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Answered on March 19, 2015
The FTB can be difficult and very frustrating to deal with. The FTB has been using an economic nexus test for out-of-state LLCs to determine...
Archived
Is their way to stop a way a dissolution of a llc in california or slow it down. Someone wants to break up my llc.
Michael's answer
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Answered on March 19, 2015
There really isn't enough here to go on. I'm not sure what you mean by "slow it down". The dissolution of the LLC has to voted on by the...
Archived
Sole Survivor Affidavit asks if decedent was intestate at death. Trustee and decedent created the trust, why not perjury here?
Michael's answer
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Answered on March 19, 2015
That form isn't a standard probate/trust form, so without seeing it and what asset it governs it is difficult to say that there is perjury. If...
Archived
Lease expired Feb 28 tenant moved out Feb 22. Sent deposit balance and itemized deductions March 16. Not sure if it was in time.
Michael's answer
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Answered on March 18, 2015
The relevant statutory section is Section 1950.5 of the California Civil Code. As prior counsel stated, this section requires you to deliver the...
Archived
How do i dissolve an llc? how do i take all items out of the llc?
Michael's answer
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Answered on March 18, 2015
In order to dissolve an LLC, you need to have all of the members vote on it. If they agree, then you file a Certificate of Cancellation (LLC-4/7)...
Archived
Is tax deferral by Section 1032 Exchange of Corporation Stock for Property helpful in capital gain tax ?
Michael's answer
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Answered on March 17, 2015
Section 1032 is only available to corporations as it is an exchange of stock for property. I believe you instead mean a tax-deferred exchange...
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