Anyone who has property or assets valued over $300,000 should consider protecting them from a possible lawsuit. Litigation, or “Who can I sue today?,” has become a popular means for the accumulation of wealth. We see it on television every day; people “recover” exaggerated sums
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Joint Tenancy in California: What Could Possibly Go Wrong?
Almost all homes, as well as other assets, owned by spouses in California are held in joint tenancy. Joint tenancy is a form of ownership where everyone on title owns 100% of the subject property. Generally speaking, as people die, the “last man standing” is
Read MoreAccounting – Depreciation
Depreciation is the accounting practice of spreading the costs of fixed assets over their useful economic life. Fixed assets are items that a business needs to purchase for long term use, things such as buildings, machinery, equipment, furniture and tools. Depreciation is a non-cash or
Read MoreMortgage Loan: Receivable
Managing receivables is fundamental in every firm’s cash flow as it is the amount expected to be received from customers for products or services provided (net realizable value). Receivables are classified as current or noncurrent assets. These transactions are recorded on the balance sheet. Current
Read MoreWhen Bankruptcy Is Not An Option
The purpose of a discharge is to “release an honest debtor from his financial burdens and to facilitate the debtor’s unencumbered `fresh start’”. In re Pelkowski, 990 F.2d 737, 744 (3d Cir.1993) (citing Kokoszka v. Belford, 417 U.S. 642, 645-46, 94 S.Ct. 2431, 2433-34, 41
Read MoreFiling Bankruptcy Due to Overwhelming Health Care Debt? Protect Your Future
Once you have decided to file bankruptcy to relieve overwhelming medical debt, you must consider how to best protect yourself in the future. Unless you take measures to prevent this debt from reoccurring, you can once again find yourself in medical debt without the benefit
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