HUNDAL LEGAL GROUP LLP

From the Nolo Wills, Trusts and Estate Planning Center

Inheritance Rights

Some very close relatives -- a surviving spouse and sometimes children or grandchildren -- have the right to claim an inheritance, and in some cases this can override what it says in your will. Here's how it works:

A Spouse's Right to Inherit

In most circumstances, a surviving spouse cannot be completely cut out of a will.

I think it is safe to say that we all hate dealing with tax related problems. When having to deal with the IRS, people believe they have to pay the entire amount at once. However, the entire amount is never due upfront and there are various solutions for your specific type of tax issue. It is crucial for taxpayers to know what options they have to aid them when dealing with the IRS.

Depending on the personal tax situation, we generally suggest the following solutions to ...

Owning a small business can be rewarding but there are great risks involved in doing so. In today’s litigious society, a lawsuit can cause financial havoc for a small business by leading to its closure, or far worse, placing your personal assets in jeopardy.

For your protection, it is important to legally separate your personal assets from your business and minimize liability. This is done by incorporating your business or forming a limited entity, such as an LLC...

Hefty capital gains and Federal income tax liability are things all of us want to avoid. But, when selling appreciated property, you will find yourself subjected to both. Luckily, the IRS provides a way to defer recognition of such taxes through a Section 1031 Like-Kind Exchange. This allows you to relinquish your appreciating property in exchange for a new like-kind property that is of greater or equal value, deferring the recognition of any capital gain or income taxes.

Our non-profit organization clients are constantly stressing over a common issue: how to raise funds? Of course, the main goal of a nonprofit is to accomplish its public mission and not to make money. But, it is necessary for the non-profit to raise money to accomplish its public mission. Along with raising funds for its public mission, non-profits must raise funds to satisfy administrative costs, management, and advertising. So, when a non-profit organization client comes to us, we often rec...

 In California, most property is over-assessed and most property owners pay too much in property taxes. With the constant activity in our neighborhood real estate market, values can fluctuate dramatically; leaving the possibility for our home values to be over-assessed.

Fortunately, there is a solution for homeowners who feel their home’s value has been over-assessed, known as a “Proposition 8 Reduction”. This can result in significant savings.

If you care for a person with special needs, there is no doubt you have thought about what will happen when you are no longer able to look after him or her. Fortunately, there are many legal and governmental tools that can help. Individuals with special needs are often entitled to benefits, including social security, Medicaid, and/or disability. Legally, safeguarding these benefits by creating a Special Needs Trust (SNT) is essential.

Generally, there are two types of SNT...

How many of us have signed the online Facebook agreement when creating our profile? How many of us were then astonished that we agreed to let Facebook use all of our personal information and pictures by signing the agreement? I know we do not like to admit it, but many of us enter into legally enforceable agreements without proper interpretation and reading of terms because we think nothing will happen or simply based on a relationship of trust.

While it is easy to overlook...

You work hard, pay your share of taxes, yet even after your death, Good Ol’ Uncle Sam still comes knocking for more! Even after a lifelong commitment to paying taxes, the federal government wants to collect more by way of estate tax. The good news is that for the majority of individuals and married couples, the current federal estate and gift tax exemption limit allows for the transfer of wealth to heirs tax-free.

Still, informing and familiarizing yourself with e...

Take a look at this information from the ABA Journal and CNN News

Prince reportedly may have had millions in assets when he died at age 57, at his suburban Minneapolis home. But his sister said in a probate filing in Minnesota’s Carver County District Court that he does not have a will. Citing an emergency need for someone to manage his business interests, Tyka Nelson, his sister, is seeking the appointment of a special administrator.