How Much Does Probate Cost? A Breakdown of Court Fees, Attorney Fees, and Administrative Expenses
How Much Does Probate Cost? A Breakdown of Court Fees, Attorney Fees, and Administrative Expenses Executive Summary -Probate costs vary widely depending on the estate’s size, complexity, and the state where the probate occurs. -Typical expenses include court filing fees, attorney fees, executor compensation, appraisal costs, and miscellaneous administrative expenses. -In California—where many estates require […]
How Can You Protect Personal Assets During Business Insolvency?
How Can You Protect Personal Assets During Business Insolvency? Executive Summary -Business insolvency does not automatically result in personal financial collapse; however, the extent of personal exposure depends largely on the company’s legal structure. -Maintaining clear legal and financial separation between the business and the owner—through proper entity formation, corporate formalities, and segregated accounts—is essential […]
What Is the Role of a Private Fiduciary in Wealth and Estate Management?
What Is the Role of a Private Fiduciary in Wealth and Estate Management? Executive Summary -A private fiduciary is a neutral professional appointed to manage financial, legal, or personal affairs on behalf of another individual. -Private fiduciaries often serve as trustees, executors, agents under powers of attorney, or conservators. -Their role is especially valuable in […]
What’s the Difference Between an LLC, a Corporation, and a Sole Proprietorship?
What’s The Difference Between an LLC, a Corporation, and a Sole Proprietorship? Executive Summary -Choosing the right business structure is a critical first step, as it impacts liability protection, taxation, management flexibility, and future growth opportunities. -A sole proprietorship is the simplest and easiest structure to form, but it does not provide liability protection, meaning […]
What Are an Executor’s Responsibilities During Probate?
What Are an Executor’s Responsibilities During Probate? Executive Summary An executor is the individual appointed to manage and settle a deceased person’s estate during the probate process. Executors have legal and fiduciary duties, including safeguarding assets, paying debts, and distributing property to beneficiaries. The role involves court filings, strict deadlines, and ongoing communication with creditors […]
What Are the Most Common Estate Planning Mistakes and How Can You Avoid Them?
What Are the Most Common Estate Planning Mistakes and How Can You Avoid Them? Executive Summary Many families unintentionally create future complications by overlooking essential estate planning steps, such as failing to update documents or coordinate beneficiary designations. Common mistakes include not having a plan, relying solely on a will, failing to fund a trust, and ignoring tax implications. […]
What Are the Steps in the Probate Process?
What Are the Steps in the Probate Process? Executive Summary Probate is a court-supervised process required when someone passes away with assets titled in their name alone. The process includes filing a petition, publication in a newspaper, notifying interested parties and creditors, valuing assets, paying debts, and ultimately distributing property to beneficiaries. Each step must follow strict legal procedures and timelines, […]
California Courts To Adopt Generative AI Policies
In 2024, the California Judicial Council created an AI Task Force in order to safeguard the integrity of the legal process as courts increasingly use generative AI. The goal is to strike a balance between the utilization of this powerful new technology and ensuring that courts remain trustworthy and objective sources of information.
5 Reasons Why a Regular Meeting with Your Tax Attorney is Critical
Five Reasons Why a Regular Meeting with Your Tax Attorney is Critical Business owners juggle many responsibilities. Taxes are one of the most crucial areas, and also one of the most overlooked areas, for business owners. Failing to meet with a tax attorney each year can not only result in lost income, it can also […]
Lagerlof LLP Partner, Vanessa Terzian, Named Los Angeles Business Journal’s Women’s Leadership Symposium Nominee
Lagerlof LLP Partner, Vanessa Terzian, Named Los Angeles Business Journal’s Women’s Leadership Symposium Nominee PASADENA, CA – Lagerlof, LLP’s, Vanessa Terzian, was honored as a nominee at the Los Angeles Business Journal’s Women’s Leadership Symposium & Awards event held on Wednesday June 28 at the Intercontinental Los Angeles Downtown. Vanessa was nominated as an Executive […]
Top 3 Reasons Business Owners Need an Attorney When Selling Their Business
Top 3 Reasons Business Owners Need an Attorney When Selling Their Business Selling a business can be a complex process that involves legal, financial, and emotional considerations. As a business owner, it’s essential to consult with a transactional attorney before negotiating the sale of your business. Here are the top three reasons why: 1. Legal […]
Remote Meetings Under the Brown Act
REMOTE MEETINGS UNDER THE BROWN ACT With the special relaxed remote meeting provisions under AB 361 coming to an end on February 28, 2023, many agencies are trying to figure how to pivot back to in-person meetings and accommodate remote participation of Board members. REMOTE PARTICIPATION MUST COMPLY WITH THE BROWN ACT With […]
Litigants in CA Have Powerful New Remedy
Litigants in CA Have Powerful New Remedy LITIGANTS IN CALIFORNIA HAVE A POWERFUL REMEDY IN CASES INVOLVING THEFT In Siry Investments vs. Saeed Farkhondehpour, 13 Cal. 5th 333 (2022), the California Supreme Court recently issued a decision that expands the remedies available to civil litigants who are victims of financial theft. California Penal Code […]
Kubiak v. County of Ravalli
Kubiak v. County of Ravalli Once a party makes a settlement offer in the form of an offer of judgment under Federal Rule of Civil Procedure 68, they cannot withdraw it! In Kubiak v. County of Ravalli, 32 F.4th 1182, 1187-92 (9th Cir. 2022), the Ninth Circuit recently held that a Rule 68 offer of […]
Top Attorney 2022
21 Lagerlof Attorneys Recognized as Pasadena Magazine Top Attorneys 21 Lagerlof, LLP attorneys were listed as Pasadena Magazine’s “Top Attorneys” for 2022. The most out of any firm featured in the magazine. The attorneys recognized were Robert Bailey, Thomas Bunn, James Ciampa, Joshua Driskell, Nicholas Everett, Mark Flewelling, Lindsay Francis, Brian Friedman, Sue Hong, William […]
Legal Entities and Real Property: Limiting Reassessment
Legal Entities and Real Property: Limiting Reassessment Legal practitioners have rightfully promoted the many advantages of holding real property in corporations, limited liability companies (LLCs), and other legal entities. By doing so a landowner can limit personal liability, exercise a degree of anonymity, and realize various tax efficiencies. However, when advising clients regarding the transfer […]