WHAT IS A LIVING TRUST?
The “living trust” described in this article is a revocable living trust. It is sometimes referred to as a revocable inter vivos trust, or a grantor trust. A living trust may be amended or revoked by the person creating it (commonly known as a “trustor,” “grantor” or “settlor”), at any time during the trustor’s lifetime, as long as the trustor is competent. A trust is a written legal agreement between the individual creating the trust and the person or institution named to manage the assets held in the trust (the... Read The Rest →
CALIFORNIA CHANGES LAW TO ALLOW CONTRACTORS TO OPERATE AS LLCs and ENGINEERS AND LAND SURVEYORS AS LLPS
On September 30, 2010, Governor Schwarzenegger signed SB 392, which will permit the California State Contractors License Board to issue contractors licenses to limited liability companies no later than January 1, 2012. As with other professionals who organize as LLCs or limited liability partnerships (“LLPs”), an LLC holding a contractors license will be required to maintain a minimal level of security for consumer claims. Security (Insurance) Requirements. The security can be satisfied through insurance, as set forth below: 1. For LLCs with five or fewer persons listed on the “members... Read The Rest →
EMPLOYEE E-MAIL PRIVACY ISSUES
E-mail has become the preferred method of communication for millions of individuals. Because of the relative ease in accessing personal e-mail accounts at work, many employees routinely check their personal e-mails and respond to them from the workplace. Many employees assume that the e-mails they send and receive are protected from review by their employer and, in certain limited circumstances they may be right. Employees may also assume that when they hit the “delete” key on their keyboard, that an e-mail is removed from their computer. However, many systems... Read The Rest →
UNPAID INTERNSHIPS
The U.S. Department of Labor has recently announced that it is stepping up enforcement efforts against employers who offer unpaid internships. The Department – which formerly had a more flexible approach is assessing unpaid internships – is now prohibiting unpaid internships in the vast majority of circumstances. Nancy J. Leppink, a former Minnesota Assistant Attorney General and the current Director of the Department of Labor’s Wage and Hour Division, has stated, “If you’re a for-profit employer or you want to pursue an internship with a for-profit employer, there aren’t going... Read The Rest →
CALIFORNIA EMPLOYER UPDATE (2012)
In early October, California Governor Jerry Brown signd a variety of important employment and labor-related statutes. Although Gov. Brown vetoed several additional anti-employer measures, this year marks a turning point for employers with workforces in California. It is anticipated that the 2012 legislative session will yield additional proposals that will impose new and probably onerous obligations on employers. The following are the most significant of the measures signed by Governor Brown in 2011. “Wage Theft Prevention Act of 2011” Creates New Wage Disclosure Requirements and New Penalties for Underpayment... Read The Rest →
CORPORATIONS vs. LLCs
How do you know whether a corporation or LLC is right for your business? Let’s assume that you’ve concluded it would be advantageous to operate your small business through an entity that limits the personal liability of all the owners – even if following this strategy involves a bit more paperwork, complexity and possible expense. You have two main choices – either a corporation or a limited liability company (LLC). Which is better? There’s no answer to this question that applies to every business. Nevertheless, some general principals may... Read The Rest →
S CORPORATION FACTS
S corporations are similar to LLCs in that they provide owners with limited liability protection while offering the tax structure of a partnership. Many entrepreneurs have two goals when choosing a structure for their business: protecting their personal assets for business claims (limited liability) and having business profits taxed on their individual tax returns. Not long ago, an S corporation was the only choice for these business owners. In the last few years, however, the popularity of S corporations has decreased as limited liability companies (LLCs) have largely replaced them.... Read The Rest →
EMPLOYER SOCIAL MEDIA POLICIES
DOES YOUR SOCIAL MEDIA POLICY COMPLY WITH THE LAW? Another social media report by the NLRB offers needed guidance for employer policies The National Labor Relations Board released its second Social Media Report in January of this year providing the General Counsel’s analysis of 14 challenged employer social media policies. On May 30, 2012 the Board released another Report reviewing seven additional employer policies. The new Social Media Report, in its’ entirety (all 24 pages), is attached to this article. The Report reviews specific language contained in social media policies... Read The Rest →
UPDATE ON CALIFORNIA COMMISSION AGREEMENTS (2013)
Reminder: written and signed commission agreements are required by January 1, 2013 It is time to think about that to-do list for year end. One item on that list for all California employers should be to make sure you have updated, accurate, and signed commission agreements on file. Last year AB 1396 was passed, requiring that any employer who pays commissions to employees must have a written contract setting forth “the method by which the commissions shall be computed and paid.” The employer must give a copy of the... Read The Rest →