Are Trust Distributions Taxable?
When the settlor of a trust passes away, tax implications of trust distributions become important. Trust tax rates can hit beneficiaries and trustees hard. Stone & Sallus can help you break it down so you know when trust distributions are taxable and how they affect you. Trusts Overview
Transferring a Mortgage to Another Person
Transferring a mortgage can be a practical solution in various life situations, from family changes to estate planning. However, the process is not as straightforward as it might seem. As experienced attorneys specializing in real estate, wills, and business law, Stone & Sallus has helped countless clients in
Grounds for Suing a Business Partner
No one enters a business partnership expecting it to end in legal conflict. Partnerships are built on trust and mutual goals, but when disagreements arise, they can escalate into lawsuits. Whether your case involves contract breaches, fiduciary violations, or other disputes, Stone & Sallus is here to guide
How to Find Out if Someone Has a Will
When dealing with estate planning and inheritance, the most common question is: How can I find out if someone has a will? Searching for a will can feel overwhelming, but there are several practical steps you can take to find out if one exists. You can check with
Can You Contest a Will in California?
Contesting a will can be an emotionally charged and legally complex process. It involves legally challenging the validity of a deceased person’s will. If you believe that a loved one’s will doesn’t accurately reflect their true intentions, or if there are legal concerns, you may have the right
Real Property vs Personal Property in California
In California, property law distinguishes between two main types: real property and personal property. Real property refers to land and anything permanently attached to it, like homes or buildings (Civ. Code § 658). When people think of property, they often picture a house or a piece of land,
How To Form a Business Partnership in California
A business partnership is a legal relationship formed between two or more people to operate a business and share its profits. It can be a great option for entrepreneurs looking to pool resources and expertise. In California, partnerships are popular due to their flexibility, but it’s important to
Inherited Property with Multiple Owners
When a loved one passes away and leaves a property behind, it’s common for multiple beneficiaries—often siblings—to inherit it. While this may seem like a straightforward process, sharing ownership of an inherited home can quickly become complicated. Differing opinions, emotional connections, and financial interests can lead to challenges
The Pros and Cons of Business Partnerships
Starting a business is an exciting venture, and one of the most critical decisions you can make is whether to go at it alone or bring in a business partner. A business partnership is a legal arrangement where two or more people share ownership, resources and responsibilities to
Do You Pay Inheritance Tax On a Trust in California?
Inheritance tax laws can be complex and vary from state to state. No, California does not have a state inheritance tax. However, there are other tax implications to consider when inheriting assets from a trust. At Stone & Sallus, we’ll guide you through the complexities of these tax
How to Dissolve a Partnership in California
Partnership dissolution officially ends the business relationship between partners. Whether due to retirement, disputes, or changing business goals, understanding how to properly dissolve a partnership can help avoid future disputes and liabilities. Reasons for Dissolving a Partnership Partnership dissolution means officially ending the business relationship between partners. There
What Is a Partition Referee in California?
A partition referee is a neutral third party appointed by the court in a partition action. In California, when co-owners of a property cannot agree on how to divide or sell their property, a partition action can be filed in court. The partition referee plays a crucial role
Does California Penal Code Section 496 Apply to Business Disputes?
The recent California Supreme Court ruling clarified that Penal Code Section 496, which addresses receiving stolen property, also applies to business disputes. This ruling is significant because it means businesses can now pursue civil remedies if they can prove that the property involved in a dispute was stolen.
How to Be Successful In Quiet Title Action in California
Many property owners feel lost when it comes to quiet title actions. In simple terms, a quiet title action is a legal process to resolve ownership disputes and clear up property title issues. It is often initiated when there are conflicting claims to a property, such as boundary
How Does the Process of a Partition Sale Differ from a Foreclosure Sale?
Partition sales happen when co-owners of a property decide to sell it due to disputes or disagreements. Foreclosure sales, on the other hand, occur when homeowners fail to make mortgage payments, leading lenders to sell the property to recover their loan. Understanding the differences between these two processes
What Can I Do If My Business Partner Is Taking Company Funds?
Trust forms the cornerstone of any successful business partnership. However, there are unfortunate instances where this trust is shattered, particularly when a business partner engages in the clandestine act of misappropriating company funds. Discovering such deceit can be disheartening and overwhelming. You may find yourself wondering, “What do
