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In rentals that are governed by rent control, courts will not look favorably at a notice and later attempt to evict if the notice appears to be pretext to conceal the true purpose of the eviction.

To avoid the hefty corporate and shareholder federal tax on distributions, many corporations decide to switch from C to S corporation status. However, if a C corporation elects to switch to S status, the S corporation will be subject to the built-in capital gains (“BIG”) tax at the highest corporate rate (presently 35%) on all appreciation on its assets at the date of conversion if there is a triggering event—usually a sale—during the "recognition period." Good news: the recognition period has been cut in half—from ten to five years.

Though it may seem counter-intuitive, preparing a prenuptial agreement or “prenup” actually can be very good for a relationship. It can help to place a couple on the same page, forcing them to address the future, their attitudes towards money, and how their financial affairs are going to be managed.

A 50/50 shareholder in an S corporation comprised of several different entertainment businesses wanted a corporate divorce from his co-shareholder. Under the settlement, certain corporate assets were to be transferred to one of the shareholders in exchange for all of his stock. The assets in question were worth more than $2.5 million. What’s wrong with this arrangement?  The answer is EVERYTHING.!!!

In a recent case decided by the Bankruptcy Appellate Panel for the 9th Circuit, the court refused to discharge a debt incurred by the debtor who previously acted as the administrator of an estate.

It is quite common for lenders to require certain loans be personally guaranteed by one or more of the principals. However, lenders' ability to pursue guarantors if the borrowing entity defaults, though often perceived by lenders as limitless, does indeed have its limits.