THE client just turned 67 and has been working for 40 years at a job that pays him $70K a year. He retired two months ago so he doesn’t make the $70,000 a year anymore. He now gets a public pension that gives him $1,800 a month and social security that pays him $1,900 a…
Starting a business is no joke. It’s not for everyone. If someone says starting a business is a walk in the park, they are lying to you. From idea to implementation, the journey involves a lot of moving parts. Lot of questions to be answered and intense planning is required. Some examples of questions to…
For most families, their 401K retirement plan from work is the second largest asset an average family holds (second only to their family residence). How is this treated in a divorce proceeding in California which is a community property state? It depends on how it is characterized whether separate property, community property, or part separate…
When debts spiral out of control, bankruptcy can become an invaluable financial recovery tool in getting you back on the right track. While it’s not for everyone, close to a million people every year find it to be their only hope of getting a fresh financial start. Debt problems can be the result of unemployment,…
HOW do I know that there’s a right time for you to file for bankruptcy and I am 100% sure of this? Well, I refer you to the Bible Ecclesiastes 3:1-8: “For everything there is a season, and a time for every matter under heaven: A time to be born and a time to die; …
For most families, their 401K retirement plan from work is the second largest asset an average family holds (second only to their family residence). How is this treated in a divorce proceeding in California which is a community property state? It depends on how it is characterized whether separate property, community property, or part separate…
THE State of California, in partnership with various counties throughout the state, administers an In-Home Supportive Services (“IHSS”) program to allow low-income elderly, blind, or disabled individuals to hire a caregiver to help them with daily activities, such as housework, meal preparation, and personal care. The recipients of IHSS assistance retain the right to hire,…
THE client is 66. He says he is now old all of a sudden. He migrated here in 2004. He says he has been working hard since he arrived, but hasn’t really been able to amass any wealth. He worked various jobs paying $10 to $15 per hour and never bought a car. He only…
IF you’ve ever had to file bankruptcy in the past for whatever reason, you probably told yourself that hopefully, you never have to do it again ever. But sometimes you never know where life takes you and if you ever find yourself in a financial bind where bankruptcy becomes necessary again, fear not. It is…
This is a common question among people contemplating divorce in California when the other spouse does not live in the state. The California Courts has the power to grant a divorce, annulment, or legal separation if either party is domiciled in the state. Domicile is where a person lives and intends to remain. However, there…
Starting a business is no joke. It’s not for everyone. If someone says starting a business is a walk in the park, they are lying to you. From idea to implementation, the journey involves a lot of moving parts. Lot of questions to be answered and intense planning is required. Some examples of questions to…
THE decision to terminate one’s marriage typically brings to the forefront many issues all at once. Issues pertaining to property, support, and child custody need to be addressed in a divorce proceeding. In a long term marriage especially, these issues are often heavily litigated between the spouses, and can take a significant amount of time…
FOUR female Google employees believed it was unfair that male colleagues with similar qualifications were consistently paid more than them and other female counterparts. This week, the San Francisco Superior Court approved an $118 million payment by Google to settle the discrimination claims of approximately 16,000 women. The class action lawsuit was brought under California’s…
IF you’ve made the decision to file bankruptcy to get a fresh financial start, here are some things to consider in choosing between Chapter 7 or Chapter 13. Be aware, however, that your income and expenses have a lot to do with which chapter you will be able to file because the courts do consider…
WHAT are the things that you should not do before you file for bankruptcy? First on the list of things not to do is do not hide assets. Concealing assets What does not hiding assets mean? Let’s give an example. You own a house with a fair market value of $1.0M in Los Angeles. You…
THE decision to terminate one’s marriage typically brings to the forefront many issues all at once. Issues pertaining to property, support, and child custody need to be addressed in a divorce proceeding. In a long term marriage especially, these issues are often heavily litigated between the spouses, and can take a significant amount of time…
Finances are different for everyone, and so are the life events we all go through. An emergency fund is your financial line of defense against life’s lemons. Although there are many financial rules of thumb, there is no “normal” way to handle your emergency fund. The bottom line: saving money is the first line of…
AN employer’s policy not to pay call-center employees for time spent booting up and shutting down their employer-provided computers is not lawful. The federal Ninth Circuit Court of Appeals rejected the employer’s contention that booting up and shutting down computers was not part of the employees’ principal duties, as these consist of taking calls and…
THE decision to terminate one’s marriage typically brings to the forefront many issues all at once. Issues pertaining to property, support, and child custody need to be addressed in a divorce proceeding. In a long term marriage especially, these issues are often heavily litigated between the spouses, and can take a significant amount of time…
Family of 3: $40K credit cards owed Client no. 1 is so young. She is in her late 30s, less than 40s. I remember when I was that young, a young lawyer with a decade and a half of experience. Seems only yesterday. Yeah, time flies and waits for no man or woman. That is…
Relax. This is a normal process. Think of it as an end-of-year review of records to ensure that your business has paid the correct premium for workers’ comp insurance. During the audit, your insurance provider usually cross reference the payroll and other records estimated at the beginning of the policy with the actual payroll and scope of work…
The family and medical leave rights under California Family Rights Act (CFRA) have been expanded. It now applies in instances when a worker needs to take leave to care for their “chosen family” or “extended relatives.” AB 1041 was recently signed into law by Gov. Gavin Newsom, and will take effect starting on January 1,…
Article I, Section 8 of the United States Constitution authorizes Congress to enact “uniform Laws on the subject of Bankruptcies. Pursuant to this grant of authority, Congress enacted the “Bankruptcy Code” of 1978. This Code is codified as title 11 of the United States Code and has been amended several times since its enactment with…
Are you currently struggling with debt problems and don’t know what to do? To most people, finding themselves in that situation is pretty scary. They constantly worry about their finances and wonder whether they will ever be able to get out of the financial mess that is causing them a lot of stress. But what…
Q: I work for a medium-sized California company. I receive a salary, but I’m a nonexempt employee. I travel out of town a few times a month as part of my job, sometimes during my regular work hours, but often outside of my regular work hours. My friend told me that my salary only pays…
THE client is young in his 50s. Believe me, that’s young. The client owns and operates a business that used to generate $800,000 of revenues yearly with good profit for the last 10 years. But even before the virus hit, his business was really slowing down. Last year, his gross receipts were down by 30%….
THINKING about one’s demise is not something people want to spend time thinking about. However reality is that we all have to face this one day. It is just a matter of whether you depart this world prepared or unprepared. If you pass away with at least $184,500 in gross assets and you do not…
THE answer is coldly and astoundingly, yes. All California employers must provide Workers’ Compensation benefits to their employees under California Labor Code Section 3700. If a business employs one or more employees, it must satisfy the requirement of the law. First, what is workers compensation insurance? As the term implies, it’s a compensation plan for…
Q: I’m an account executive at a real estate company. I enjoy the work and I’m good at it. But I started having problems when I went on maternity leave, when my boss gave the majority of my best accounts to male colleagues on my team. I didn’t get them back when I returned to…
WHAT are the things that you should not do before you file for bankruptcy? First on the list of things not to do is do not hide assets. Concealing assets What does not hiding assets mean? Let’s give an example. You own a house with a fair market value of $1.0M in Los Angeles. You…
