Tuesday, September 9, 2014

How Not to Leave an Inheritance to a Child

A good example of why it's often not a good idea to leave an inheritance outright to a young child, and better to instead consider an ongoing trust, staggered and/or contingent distribution schedule, or simply a greater age than 18, 21, or 25 for outright distribution:

From Trust Fund Kid to Average Joe: What Blowing a $250K Inheritance Taught Me, as told to Marianne Hayes, LearnVest.com, September 9, 2014.

Tuesday, July 1, 2014

California Minimum Wage Increase for 2014

California's minimum wage increased from $8.00 to $9.00 per hour today (a 12.5% increase), and will rise again to $10.00 on January 1, 2016 (a further 11.1% increase). California employers must pay the higher of the applicable federal, state, or local minimum wage. For unionized workers, the minimum specified in the collective bargaining agreement.

Historical Minimum Wage Information (California Department of Industrial Relations)

Sunday, May 25, 2014

DIY Legal Mistakes Haunt Deceased

A recent Forbes article highlights three recent cases where do-it-yourself legal planning and failure to follow through on the details resulted in unintended postmortem consequences:
[L]egal mistakes made during a lifetime can create a mess at death... I think it’s important for people to understand the consequences of inattention to legal matters and of not involving an attorney. “Penny wise and pound foolish” can be a particularly compelling adage when dealing with legal matters.

Saturday, May 10, 2014

Client Launches Online Drones, Unmanned Systems, and Robotics Resource

Client BriMar Entprises, LLC has launched their fascinating new website

TheFutureIsUnmanned.com

focusing on unmanned systems and robotic technology.

The site provides news, information, and commentary about what are more popularly known as robots and drones, as well as job postings for careers in the industry and discussion forums. It aims to keep readers abreast of these fast-moving and newswothy topics. Please bookmark, subscribe, and enjoy.

Wednesday, April 23, 2014

Unpaid Internships and the Minimum Wage

As reported yesterday by the Wall Street Journal (Colleges, Employers Rethink Internship Policies) unpaid interns continue to cause labor law issues for companies and non-profit organizations, leading to the elimination of some internships and the conversion of others to paid positions meeting minimum wage and overtime standards.

California's minimum wage is presently $8.00 per hour, but rises to $9.00 on July 1, 2014, and is then slated to increase to $10.00 on January 1, 2016.

Monday, February 3, 2014

California's New LLC Act (2014) - Revised Uniform Limited Liability Act

California's existing limited liability company law was replaced with the California Revised Uniform Limited Liabilty Act, effective January 1, 2014. For a brief discussion, please see this article I co-authored with New York of-counsel Domenic Romano, Esq. For specific legal advice regarding your LLC, please contact me to schedule a consultation.

New California LLC Law Underscores the Importance of Accuracy