Attorney Daniel H. Alexander's blog

A third party special needs trust is either a trust set up within a persons living trust or is set up as a separate stand alone trust.

The primary purpose of a third party special needs trust is to preserve government benefits for disabled beneficiaries. Usually the benefits that are trying to be protected are from government programs that have eligibility requirements. Receipt of an inheritance will disqualify the beneficiary for future government benefits.

Want to create a tax-shelter that eliminates capital gains, recapture taxes, and gives your heirs a nice tax break?

All you have to do is die.

You may not want to rush to take advantage of this extreme tax strategy but you should know that keeping your home until death, and in a living trust, has distinct advantages. At death, your estate avoids both capital gains and recapture taxes, and passes the home to your heirs at a fair-market stepped-up basis.

New employment laws passed in 2011 could affect your California business’ day-to-day operations and company policies in 2012. Review the summaries of these new laws provided by CalChamber and how each of these California laws could affect your business by clicking on the link below:

http://www.calchamber.com/hr-california/white-papers/Documents/Final%201...

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Gift Planning is finding ways to make charitable gifts now or after your lifetime, many times while enjoying financial benefits for yourself.

Planned gifts are sometimes referred to as "stop-and-think" gifts because they require some planning and, often, help from your professional adviser. Unlike cash donations, they are typically made from assets in your estate rather than disposable income, and come to fruition upon your death.

Our featured charity this month is The Esplanade House. Visit them at: http://www.esplanadehousechico.com

I am always asked questions about the bankruptcy means test, which is an objective standard of determining if a debtor qualifies for bankruptcy under Chapter 7. Old bankruptcy law often made it relatively easy for filers to meet the criteria since bankruptcy courts used considerable discretion in determining eligibility.

On September 1, 2011, Governor Brown signed into law AB 571, which significantly amends and streamlines Chapter 5 of the California Corporations Code governing dividends and distributions by corporations.

Steve Jobs, who died Wednesday after a long battle with cancer, is hailed as the person who saved Apple, who made it cool and who made ease of use essential to technology. These same features are now sought after in many business sectors. When the rest of the business world moves in a given direction, it is a safe bet that there is good reason for all professions to move in the same direction.

Banks are increasingly pursuing deficiency judgments against former homeowners who lost their homes in foreclosures.

In California, in most cases, when you purchase a home, the loan or loans are purchase money “non-recourse” loans, meaning that the bank will not be able to pursue the debtor if the house later goes into foreclosure. However, what most home owners do not understand that this generally only applies to a primary residence and only to purchase money loans.

Many times I am asked by potential bankruptcy clients: “How Long Can I Stay in My House if I Filed a Chapter 7 Bankruptcy?”

There is not an exact answer. As part of a Chapter 7 Bankruptcy, the automatic stay provision of the Bankruptcy Code protects the debtor that filed for bankruptcy, at least temporarily, regarding a foreclosure (i.e. it stops a foreclosure). Usually, shortly after filing for Ch 7 bankruptcy, the mortgage company will file a Motion for Relief from Stay in which they ask the Court to lift the automatic stay so that they can generally pursue a foreclosure.

Attorney Ben Seisler picked up extra money while attending law school by donating to a sperm bank. He earned about $150 per donation, the Boston Globe reports. He apparently visited the sperm bank often.

In 2005, he used his donor number to register with an online tracking site called the Donor Sibling Registry. Seisler learned he had at least 75 children, the story says. And the 33-year-old lawyer expects the number to grow to between 120 to 140 children. He uses an Excel spreadsheet to keep track of them all.