Author: rosaleen.behnken@thomsonreuters.com
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What To Do If Your Spouse Tries To Renegotiate A Prenup
POV: You’ve already signed a prenup, got married, went on your honeymoon, and lived three happy years of marriage. Now, your partner is asking you to renegotiate the terms of the prenup (for whatever reason). What do you do? Well, there are a handful of options: Agree and renegotiate it and amend the prenup; Revoke…
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The Benefits of Having a Prenup for Same-Sex Couples
Same-sex marriage is now legal in many countries, including the United States (shout out to Ruth Bader Ginsburg and the other supreme court justices that helped make that happen). However, just like heterosexual marriage, same-sex couples also face the possibility of divorce. A prenuptial agreement, or prenup, can be a valuable tool for both opposite-sex…
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California Employment Basics
Both employers and employees should know their state’s employment laws. Knowing the employment & labor laws in your state is not only important but essential to understanding your rights as a worker and your duties as an employer. California is known for having the most pro-worker laws in the United States. Below we’ll provide a…
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Charitable Trusts: Overview
There are two types of charitable trusts: charitable remainder trust (“CRTs”) and charitable lead trusts (“CLTs”). We’ll review each one briefly. 1. CRT has: at least annual distributions to one or more non-charitable beneficiaries; for life of such beneficiaries or for a term of years; with an irrevocable remainder paid or held for the benefit…
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Grantor Trusts: Overview
There is a trust defined by Code Sections 671-679 referred to as Grantor trust. A transfer to an irrevocable trust can be treated simultaneously as both (i) a completed transfer for estate and gift purposes and (ii) an incomplete transfer for income tax purposes. Therefore, it is possible to structure an irrevocable trust so that…
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Residence Trusts: Overview
A residence trust is used to transfer a grantor’s residence into a trust in order to exclude any future appreciation of the residence from the grantor’s estate. These personal residence trusts (“PRTs”) are irrevocable and split interest in character. In essence, the transfer of the residence is a complete gift, while at the same time…
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What is a Trust? The Basics
Simply put, a trust is an agreement in which one person (grantor/settlor) transfers assets (personal and/or real) to another person (trustee), and instructs the trustee to hold the property for the benefit of another person (beneficiary). In essences, it’s a contract. The trustee holds legal title to the assets of a trust, can enter into…
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Register That Foul Trademark
Iancu v. Brunetti 139 S.Ct. 2294 (June 24, 2019). Erik Brunetti, a wise-guy or a genius (or both) started a clothing brand called “FUCT.” How much would young people love to where a shirt that says, “FUCT” to school just to make a statement? Mr. Brunetti wanted to protect his brand with power of the…
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Social Media Department: Sweepstakes and Contests. How marketing could tank your business!
Want to improve your brand awareness and social media engagement? Have a contest! Not so fast. Like everything else in life, there’s a lot of complicated rules. The fact that there are more than one rule-making body for these kinds of hi-jinx is what makes it so complicated. There is the Federal Trade Commission. There…