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Estate Planning & Real Estate Law Articles

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2020 - Suspended Corporation

Is Your California Corporation or LLC in Good Standing?

Donald W. Flaig, Esq.

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Don't Be Held Personally Responsible for Business Debts

Owning a business can be an exciting prospect, but if not organized and run properly, you may become personally liable for business related expenses.

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"We're Getting Divorced"...Now What?

Divorce is never easy. It is a very emotional time filled with many decisions that need to be made.

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Think Your Handwritten Notes On Your Living Trust Are Valid? Think Again!

You want to amend your Living Trust, but do not want to spend the money or take the time to meet with an attorney to discuss the modifications.

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Avoid the Common IRA Mistakes

Americans hold nearly $15 Trillion in IRA’s and other qualified plans. If you have a retirement plan you have made a series of very wise deci­sions. Now you must take steps to protect and preserve what you have worked so hard for.
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Do you have a Pet Trust?

For many pet owners, pets are members of the family. These individuals often say that if something happens to them, they are more concerned with what will happen to their pets than to their children or spouse.

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Estate Planning Benefits

The unthinkable just might happen, so be prepared. Have a well documented and detailed set of instructions already neatly assembled and in place. Eliminate confusion by planning ahead.

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Operational Issues for Small Businesses

Are You Being Too Informal? A Case Study - We have found that small businesses tend to operate their business without the stringent formalities of a large company.  This sounds like a benefit to having a small business – however – not only is it incorrect as small businesses need to operate with certain formalities, but when they don’t, we see drastic results.

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2017 Presents a Great Time to Plan for your Family

2017 is going to have changes.  Let’s see, a new President, possible interest and tax changes, a Republican run Congress and House – these are not small issues where each one of us will be affected.  As such, there is no better time to do some estate planning than now.

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Limited Liability Companies - Advantages Over Limited Partnerships and S Corporations

What is a Limited Liability Company (LLC)? An LLC a non-corporate entity that is authorized by statute and may engage in lawful acts or activity. The owners (members) have no personal liability.

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Six Steps of Trust Settlement

Most people don’t have a lot of experience handling what happens after their loved one dies and they have been named as the Successor Trustee - in charge of settling their loved one's Revocable Living Trust.

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Have you planned for incapacity?

While most of us do not want to consider or think about the possibility of someday becoming incapacitated, it is a reality in today’s world.

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Closing a Trust aka Trust Settlement

Scenario:   Dad died last year and mom died last month.  Ok, not the most upbeat article ever, but certainly realistic and families must be ready for what to do now.  For purposes of this article, we will assume that the parents had a properly drafted Living Trust and had placed their assets into the Trust prior to death.  What now?  When I say “Trust Settlement”, this means administering the Trust according to its directions now that mom and dad are deceased.

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When is the Last Time you had your Living Trust Reviewed?

Generally speaking most people understand the need to have an Estate Plan put into place.  Whether someone is affluent or has a simple estate, the benefits are huge.  It is particularly important for those business ow

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"Must Have" Documents included in your Estate Plan

There are 5 “MUST HAVE” documents included along with your Living Trust when creating your Estate Plan.  While the Living Trust is primarily used when you become deceased, 3 out of 4 of these “must have” documents are critical to have

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Keys to Estate Planning for Young Families

Today, your estate may be well below the federal gift and estate tax exemption of $5.43 million (double that for married couples). However, if your wealth grows over the next 30+ years, or Congress makes changes to that amount, you may end up with a large estate tax problem. So how do we plan for that now and what other issues need to be discussed?

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Are You Governing Your LLC Properly?

While there is a belief, that is true to some extent, that there is flexibility with LLCs, be wary to fall into the trap of believing that you can be informal in how you govern your LLC. Here are 5 of the largest pitfalls we see:

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5 Largest Estate Planning Mistakes

FAILING TO PLAN. The surest way to mess up your estate, allow the courts and attorneys to eat up your legacy, is to fail to do any planning. While it is not the most fun thing to do or spend your money on, it is absolutely critical that you take the time and take care of your family.

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Succession Planning for Businesses

We have found that an increasing number of businesses do not end up surviving beyond the founding owner’s lifetime.  Most people do not take the time to ask the question “What will happen, practically, to my business should I die?”  Ownership, con

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National Advocates Top 100 Attorneys

The Flaig Law Firm founder, Donald W. Flaig, was nominated and selected by the National Advocates Top 100 Attorneys in California for 2015.  This prestigious honor is given to a select group of lawyers based upon their credentials, work and peer recognition. 

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What To Do If You Are Injured

If you were injured in an accident, would you know what to do immediately following the incident? This Donald W.

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About The Flaig Law Firm

We represent clients in Southern California communities, including, Los Angeles, Sherman Oaks, Encino, Van Nuys, Thousand Oaks, Westlake Village, Woodland Hills, Santa Monica, Riverside and San Diego; and throughout the San Fernando Valley, Los Angeles County, Orange County, San Bernardino County, Ventura County, Riverside County, San Diego County, San Francisco County, Alameda County, Sacramento County and Contra Costa County.

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