California’s New Tenant Protection Act of 2019 & What It Means for You

 

California’s New Rent Control

On September 11, 2019, the California Legislature passed Assembly Bill 1482 known as the California Tenant Protection Act of 2019 (the “TPA,” not to be confused with the New York Tenant Protection Act of 2019!). On October 8th, Governor Gavin Newsom signed it into law.

The provision will sunset on January 1, 2030.

You can read the text of the law here: 

https://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201920200AB1482

What Does the TPA Do?

The TPA has two primary regulatory aspects:

First, it limits rent increases to the Consumer Price Index + 5% or 10%, whichever is less. 

The CPI calculation is a complex one that zeros-in on Regional Total Consumer Price Indexes maintained by the United States Bureau of Labor Statistics and not the California CPI maintained by the California Department of Industrial Relations.

Each of these indexes have multiple baskets of commodities that yield different CPIs for various regions, market segments, and time frames.

Therefore, it would be madness for any Landlord to attempt this calculation on his own and should contact a CPA or Real Estate Attorney to vet any contemplated rent hike. In general, CPI tends to hover around 3% per year making most rent increases contemplated by the TPA between 7% and 8%.

https://data.bls.gov/pdq/SurveyOutputServlet?data_tool=dropmap&series_id=CUUR0400SA0,CUUS0400SA0

Second, it limits the manner and reasons for which a tenant may be evicted. Instead of month-to-month tenancies only being governed by the terms of the rental agreement, or at-will tenancy, the TPA requires “just cause” to remove a tenant.

“Just Cause” is further broken down into “At-Fault Just Cause” Evictions and “No-Fault Just Cause” Evictions.

At-Fault Just-Cause Evictions include: (See Cal. Civ. C. Sec. 1946.2(b)(1)(A-K) for a full list)

– Lease Breach

– Non-payment of rent

– Nuisance as defined by State Law

– Criminal Activity

If any of the above are ‘curable’, the TPA further requires that tenants be given as “reasonably notice” as defined by Section 1161 of the Code of Civil Procedure – which is the 3-Day Notice that most landlords are already familiar with. In situations covered by the above, a Landlord may initiate an Unlawful Detainer Action against the tenant upon expiration of the 3-Day Notice and reject all further attempts to pay rent or cure.

It is important to note that “curable” is not defined by the code section(s) and it would be difficult to imagine or identify a non-curable breach of the lease. Therefore, it may be prudent for all Landlords to issue the statutory 3-Day Notice and not wade into the murky line-drawing the legislature has contemplated.

No-Fault Just-Cause Evictions include: (See Cal. Civ. C. Sec. 1946.2(b)(2)(A-D) for a full list)

– Landlord or immediate family moving in 

– Converting the unit into a condominium 

– Demolition of the Unit (not simply renovating)

– Complying with a Court order or new statutory compliance affecting the unit.

If the Landlord is exercising one of these provisions, he will need to give a 60-Day Notice and relocation assistance.

Relocation Assistance (See Cal. Civ. C. Sec. 1946.2(d))

Perhaps the largest distinction between the Los Angeles Rent Stabilization Ordinance that our readers may be familiar with and the new TPA, is that the latter sets relocation assistance as a single month’s rent either paid out to the tenant or by waiving the last month’s rent prior to move-out. 

This is in drastic contrast to the RSO’s draconian formulas intended to chill any and all repositioning, improvement, or further development of Los Angeles Real Estate. 

Notice Requirements

Basically, all landlords need to separately notify, or include in the Lease, disclosures that the property is or is not covered by the TPA, which specific statutory language. (See Below)

Which Properties Does the TPA Apply To?

The TPA has a fairly limited scope that focuses on two factors:

First, the age and type of the dwelling unit:

The TPA specifically excludes: (See Cal. Civ. C. Sec. 1946.2(e))

  1. Dwelling units less than 15 years old as determined by its Certificate of Occupancy
  2. Hotel Occupancy under subdivision (b) of Section 1940
  3. Non-profit housing such as hospitals, religious facilities, extended care facilities, licensed residential care facilities for the elderly, or adult residential facilities. 
  4. Dormitories
  5. Shared Co-Living Spaces
  6. Single-family owner-occupied residences
    1. Including a residence in which the owner-occupant rents or leases no more than two units or bedrooms, including, but not limited to, an accessory dwelling unit or a junior accessory dwelling unit.
  7. A duplex in which the owner occupied one of the units as the owner’s principal place of residence at the beginning of the tenancy, so long as the owner continues in occupancy.
  8. Any unit already covered by a stricter Rent Stabilization Ordinance. Therefore, LA’s RSO and California’s TPA are not in conflict.

Second, the type of ownership structure:

The TPA applies to any and all Single-Family Dwellings (with no other units attached) where the owner is:

    1. A Real Estate Investment Trust (as distinguished from a Revocable or Living Trust)
    2. A corporation
    3. An LLC with a Corporate Member

In Summary: 

  1. All traditional multi-unit residential dwellings, including condominiums, that are more than fifteen (15) years old, except for owner-occupied duplexes AND
  2. Only those single-family dwellings that are more than fifteen (15) years old and owned by a REIT, Corporation, or LLC with a Corporate Member.

When Does the TPA Take Effect?

Various potions of the TPA take effect on a rolling basis as follows: 

March 15, 2019 Any rent hikes between this date and January 1, 2020 will be rolled back on 

January 1st to the rent as of March 15th + the statutory increase.

January 1, 2020 All Just-Cause and Rent Cap provisions go into effect

July 1, 2020 All leases entered into after this date, must include statutory disclosures:

“This property is not subject to the rent limits imposed by Section 1947.12 of the Civil Code and is not subject to the just cause requirements of Section 1946.2 of the Civil Code. This property meets the requirements of Sections 1947.12 (d)(5) and 1946.2 (e)(8) of the Civil Code and the owner is not any of the following: (1) a real estate investment trust, as defined by Section 856 of the Internal Revenue Code; (2) a corporation; or (3) a limited liability company in which at least one member is a corporation.”

Or

“California law limits the amount your rent can be increased. See Section 1947.12 of the Civil Code for more information. California law also provides that after all of the tenants have continuously and lawfully occupied the property for 12 months or more or at least one of the tenants has continuously and lawfully occupied the property for 24 months or more, a landlord must provide a statement of cause in any notice to terminate a tenancy. See Section 1946.2 of the Civil Code for more information.”

August 1, 2020 Deadline to give notice to tenants of the above, if the tenancy began prior to 

July 1, 2020.

About the Author

Josué Cristóbal Guerrero, Esq. is a Partner at Gomez & Simone, APC, a Southern California Real Estate Law Firm with offices in Los Angeles, Ontario, La Mirada, and opening December 1, 2019 – Santa Ana

Real Estate Lawyer

Do You Really Need a Real Estate Lawyer in Los Angeles?

A home is likely one of the biggest financial purchases you will make, and you may be overwhelmed by all the people involved with the process: real estate agents, mortgage brokers, appraisers, inspectors, and more. Hiring a real estate lawyer (also known as a property lawyer or realtor attorney) may seem like just another added cost, but it could save you hundreds or even thousands of dollars in the long run by preventing problems before they arise.

Many states require a real estate attorney to be present at closing. In other states having an attorney is optional. Knowing what a real estate attorney does is the first step to ensuring that you and your family are in the best position to make a decision before buying or selling a home.

What does a Real Estate Lawyer do for Buyers?

A real estate lawyer can help the transaction go smoothly and mitigate risk. They can advise the prospective homeowner’s search for the best property, deal with brokers, write and review purchase agreements, negotiate and execute of a contract of sale, procure a mortgage, and attend the closing of the mortgage where the deed is transferred, to name a few.

While most basic transactions in most states don’t require a real estate attorney, there are still many situations in which an attorney is not only helpful but necessary. When buying a new home, you’ll want to hire an attorney if:

  • You’re from out of town
  • The property has physical damages
  • There is an illegal dwelling on the property such as an in-law unit
  • The land is owned by the bank
  • The area is subject to adverse weather (floods, tornados, hurricanes, etc.)
  • You need to evict tenants
  • You need to back out of a contract
  • You need to fix a title problem or confirm ownership (often through a quiet title action)

What does a Real Estate Lawyer do for Sellers?

As a seller, you’ll want to hire an attorney if:

  • You’re selling land of a deceased relative
  • The property has structural problems
  • You have a history of property liens (due to debt)
  • You’re negotiating a divorce and need to split the assets
  • You are in the midst of a short sale or foreclosure

It’s especially important to consult with a real estate attorney if anything in the house or contract seems dodgy, to avoid further problems down the line.

Do I Need a Real Estate Lawyer at Closing?

Whether or not you need a lawyer at closing depends on your location. The states that require a real estate attorney to be involved include Alabama, Connecticut, Delaware, District of Columbia, Florida, Georgia, Kansas, Kentucky, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New York, North Dakota, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and West Virginia. This list is subject to change as states frequently pass new legislation, so make sure to check your local laws.

Each state decides how to handle home closings. GeorgiaMassachusetts, and South Carolina, for example, require that an attorney be physically present for each real estate transaction. Some states, such as North Carolina and Alabama, limit the amount of power a non-attorney can have in closings, including drafting legal documents and giving certain legal advice. These laws can often be vague and difficult to understand without the interpretation of an attorney.

How much does a Real Estate Attorney Cost?

An attorney typically charges hourly rates between $150 and $350, or a flat fee at closing. While hiring a lawyer may be more costly upfront, it can save you money in the long run by preventing problems before they arise – for instance, buying a home with a tax lien or one that is susceptible to natural disasters. Having a real estate lawyer in your corner can provide peace of mind during one of the most expensive and complex purchases of your life.

How to Find a Real Property Attorney

When choosing your real estate attorney, it’s always in your best interest to come prepared with a list of questions. You want to select someone with whom you are comfortable and someone who is experienced with your specific type of transaction. Consider asking:

  • How long have you been a real estate attorney?
  • How many similar transactions have you dealt with before?
  • How would you handle my case?
  • Can you tell me your overall strategy?
  • Will you specifically work on my case and attend my closing or will your paralegal or someone else in your office handle it?
  • Does your fee include due diligence?

Real estate lawyers are experts at navigating the complex world of real estate law. Many states require a real estate lawyer to be involved in a home buying or selling transaction, but if yours doesn’t, hiring an attorney is still worth considering. They can help you navigate documents, resolve disputes, and make informed choices, so you can rest assured that your transaction is airtight. After all, buying a home is one of the most important, expensive, and life-changing decisions, and you’ll have more peace of mind with a professional by your side.

Note: The information provided in this article is for informational purposes only and does not constitute legal advice. Readers should contact their attorney for advice on any particular legal matter.

Talk to our real estate lawyers in Los Angeles first at (855) 219-3333.

best Los Angeles bankruptcy law firm

Best Los Angeles Bankruptcy Law Firm in Property Distribution

Getting a divorce amicably is possible, according to the best Los Angeles bankruptcy law firm, Gomez and Simone. Amicable separation does not involve a court and will not increase fees.

However, a court ruling offers a lot of benefits, especially if you and your ex-spouse have properties. For that reason, you should still consider getting a court order. In that way, you and your ex-spouse could distribute the properties equally.

Some spouses just lost interest in the family home and gave it to the other spouse. But doing so will cause them to receive nothing.

One of their reasons is that they want their kids to continue living in the house. Or they just do it because they thought it was the right thing to do, out of guilt.

But this decision will only make the matter worse if you or your ex-spouse filed for bankruptcy. Keep in mind that creditors can recover property transfers. Uneven distribution of property is a fraudulent transfer under bankruptcy law.

It means that a trustee can file a lawsuit against a party who benefited from the transfer, two years after the transfer was made. The recovery period can be longer. In California, the statute of limitations for this kind of transfer is four years.

Get a Court Order

The best Los Angeles bankruptcy law firm advises getting a court order to avoid transfer issues later. A court judge may consider the division of property to be right making it safe from a bankruptcy trustee. A creditor cannot undo the transfer.

Sure, you are not going to file bankruptcy tomorrow or a year after the divorce. However, you will not know what the future holds. You may mismanage your money for whatever reason.

With a court order, your property is safe as the judge approves the property distribution.

best Los Angeles bankruptcy law firmMarital Equalization Payments

It is another issue when getting a divorce. Marital dissolution combine support obligations and property equalization.

But they are two different things. The property equalization may involve paying insurance or taking care of debts accumulated throughout the marriage.

If the court order does not have a clear designation, it could still interfere with the property distribution later on.

Ask a Lawyer

Hiring a top family law attorney with bankruptcy law experience is vital in this matter. Property distribution can be a complicated process when getting a divorce.

Our law firm, Gomez and Simone, will give you personal attention in filing a divorce. In that way, everything is clear, even the property distribution.

We are against those actions that can cost more to the clients than they could benefit them. If you need mediation during a divorce proceeding, we have the legal expert to help you out.

Divorce is painful and stressful. It does not only affect you, your spouse and your kids but it also affects your properties. For that reason, it is vital that you work with a lawyer with years of experience in property distribution and divorce.

Get in touch with our Los Angeles bankruptcy law firm today for a consultation. Do not take this matter on your own. Call us at (855) 219-3333.

family law attorney in Whittier

Family Law Attorney in Whittier: Changing Name After a Divorce

It is a common practice to take your husband’s name after getting married. When you have a child, any family law attorney in Whittier will recommend that the child takes his last name, too.

But what if your marriage did not work and the two of you opted to get a divorce? You might decide to change your last name to your maiden name.

Can your child change his/her last name, too? Can he/she take your last name after getting a divorce?

Child Name Change Requests

It is possible to change your child’s last name. However, you must remember that changing it could just result in unnecessary emotional distress to the child.

But if you really wish to change your child’s name, you will have to get a court’s permission.

Our family law attorney in Whittier recommends filing a formal petition with the local court. As the mother, you must notify your ex-husband about this decision.

The court will not accommodate your request if you cannot provide proof that you notified your ex-spouse.

When you notify him, however, he will have the chance to contest it. If your request has been approved, your child can take your name.

But you need to change his/her name from the other documents that can prove his/her identity. Doing so can be challenging.

family law attorney in WhittierDoes It Affect Child Custody?

It may or may not affect child custody arrangements. But keep in mind though that if you have the sole custody of the child, it does not mean that you have the right to change his/her name without notifying his father and getting a court’s permission.

But changing the child’s last name will not automatically change your ex-spouse’s parental rights.

The local court will decide whether or not to approve your request to change your child’s last name. If your child has a good relationship with his/her father, the court might not allow that to change it.

The reason for this is that the court will see it as harmful to the relationship.

On the other hand, if the child has no amicable relationship with his/her father, the court will allow it. The court will also approve your request if the father does not pay child support or being abusive to you or your child.

Changing a child’s last name is also more difficult if paternity is not in question. However, if you and your ex-spouse got married after the child was born, the court might likely approve your request. It is especially true if there are legitimate issues about the paternity.

What Does It Do to a Child?

Changing the last name of your child can be quite a challenge. And the court will make it more challenging by asking you the reason for your request. You need to prove to the court that the change will benefit the child and not to you.

It is a lengthy process. It is also stressful not just to you but also to your child. That’s why it is ideal to hire a family law attorney in Whittier to guide you in this complex process. Call our law firm today at (855) 219-3333.

real estate lawyers in Los Angeles

Real Estate Lawyers in Los Angeles Tips for First-Time Homebuyers

Our real estate lawyers in Los Angeles have won a lot of cases in the real estate industry. If it is your first time to buy a house, please heed our tips listed below. In that way, you can avoid facing some common problems in the real estate business.

As a first time buyer, there are several things that you are not aware of in buying a house. Unfortunately, your real estate agents will not give you the proper guidance to get through this path. They simply wish to get their commission.

Fear not, though, as we are here to help. Gomez and Simone law firm houses exceptional real estate lawyers in Los Angeles who won the majority of the cases we have dealt with.

When purchasing a house, make sure to follow these tips.

Protect Yourself Through Contingencies

In a real estate contract, contingencies are vital. With it, you can back out of the transaction if the property’s condition is adverse.

You can back out without getting penalized. However, make sure that you do not remove the contingency before the transaction.

That’s why it is vital to work with a real estate lawyer before you even purchase a house. In that way, the lawyer can help you build a contract that protects your investment.

real estate lawyers in Los Angeles

Expect Longer Loan Approval

Typically, it only takes 30 days to approve your loan. But some events may happen that can negatively affect the loan processing.

For that reason, it is vital that you give yourself plenty of time in the purchasing process. It will let you resolve any unforeseen issues with your loan.

Keep in mind that closing escrow can be quite difficult. It can take up to 60 days if you used a conventional loan.

Inspect Everything

You can inspect the house on your own. But you will surely miss a lot of things.

For that reason, it is highly recommended that you hire a building expert to study the in and out of the house. Doing so will help you avoid financial problems later on.

The expert can help in unveiling any undisclosed defects. These defects can be costly if you repair them. They may result in you losing your investment because of them.

Hire an Attorney

It is not enough to work with a real estate agent. You should hire a real estate lawyer when being a house. The lawyer will represent you throughout the home-buying process. This attorney will review the loan documents before you sign.

Your lawyer will also help in the negotiation process after a home inspection. If the building inspector finds some serious defects with the home, your attorney will talk to the seller. He will negotiate that the seller must complete the repairs before completing the home sale.

Your attorney will also come in handy if you wish to lower the sales price of the house.

Are you ready to buy your new house? Talk to our real estate lawyers in Los Angeles first at (855) 219-3333.

qualified Los Angeles real estate lawyer

Qualified Los Angeles Real Estate Lawyer on Real Estate Investing

Real estate investment can help you build your wealth. With the help of our qualified Los Angeles real estate lawyer, getting started can be quite easy. There are several options that you need to look into. Because of those many complicated routes, some novices would just withdraw and find new ways to build their wealth. However, if you hire a lawyer, diving into a real estate investment will become a lot easier and less stressful. Real estate investment is prolific. However, it has some legitimate risks. Then again, these risks can be minimized by hiring a real estate attorney. Your lawyer can explain everything to avoid breaking your investment from the start. Before you take the plunge in this type of investment, you must familiarize yourself of the terminologies and best practices in this field. You can purchase books and magazines to teach you those terms. However, you will fully understand them by hiring a lawyer. The next step is to know what you must focus on. Keep in mind that real estate investments are of different types. Every type has its own pros and cons. These types could be residential and commercial.

qualified Los Angeles real estate lawyerPlanning to Invest

Are you planning to invest in a single dwelling or a multi-family unit? As a savvy investor, you may consider diversifying your investments. That is, you may want to invest in various types of real estate. It can be wise. But you can be wiser if you choose to hire a lawyer. A real estate lawyer in Los Angeles will not teach you the basics of real estate investing. Rather, he will explain to you the many options and give you a better explanation of every option. For example, if you are planning to purchase a property and hold it, the lawyer will explain the tax consequences of this plan. What if you wish to flip the property? A lawyer may not give you recommendations on various investment strategies. However, he can give you some legal advice on how to get profits quickly and legally. Your lawyer may also draft an appropriate contract when you need to finance this investment. And if the deal does not go as planned, your attorney can give exit strategies.

Real Estate Investors

Our lawyers at Gomez and Simone law firm are also real estate investors. They can give specific strategies to prevent foreclosures. There are some non-conventional methods they can teach you about selling your properties quickly and easily. These methods are also perfect if you wish to avoid foreclosure but no choice to keep your home. Gomez and Simone law is your one-legal shop when it comes to investing in real estate. Our lawyers can protect your asset while providing you with the right plan. Real estate investment is surely the best option for you to build your wealth. But before jumping in the bandwagon, make sure that you consult a Los Angeles real estate lawyer. The lawyer will not just draft a contract but he can also give you non-conventional methods to quickly sell your house. To make a free consultation, please call our qualified Los Angeles real estate lawyer: (855) 219-3333. You may also send us an email through info@gomezsimonelaw.com.

 

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Real Estate Lawyers Los Angeles: When Buying Property

It is not necessary to hire real estate lawyers in Los Angeles. Most transactions are standard that people will utilize the same contract. That is, they just fill in some blanks. But there are some legal issues that may occur that only a real estate lawyer can answer.  In this situation, you will need to hire a real estate attorney to help you out. It is true that real estate agents are trained about the contract part. However, they are not keen on answering legal questions. A real estate attorney can help in many ways. For example, if your new home has an illegal unit that has an existing tenant but you wish to rent that unit to a friend, then an attorney can give you some recommendation. You may also need to draft an unusual lease that a lawyer can assist you with. You will also need a lawyers’ assistance if you wish to understand more about the documents before signing.

hire real estate lawyers in Los AngelesMake an Informed Decision

Gomez and Simone Law firm has been helping real estate buyers in Los Angeles to make an informed decision before signing a contract. In many real estate transactions, a seller will enter into a contract with an agent in writing. When the broker finds a buyer, an informal agreement can be reached between the buyer and the broker. After reaching an agreement, both the seller and buyer will have a formal written contract. The overall process may appear simple. However, there can be a lot of consequences when purchasing a home without consulting a real estate lawyer in Los Angeles. The lawyer will prevent you from signing vague terms.

Brokerage Agreement

One example is a brokerage agreement. Most brokers utilize standard forms as they thought they would cover all circumstances. But without a proper agreement, the seller can be liable to pay a commission even though the house has not been sold. This can be avoided by consulting first with Gomez and Simone real estate lawyers. Our attorneys can give you the pros and cons of multiple listings. Before you sign a brokerage agreement, make sure that you talk to an attorney and let him explain all details in the contract. Even if the broker uses a standard form, you should still talk to a real estate lawyer and have it revised whenever necessary. During negotiations, you do not need your lawyer to help you out. However, the lawyer is of much help when you need answers to some vital inquiries, like transaction and taxes. The purchase agreement is another vital document in the buying and selling process. You can easily sign a standard form. However, your lawyer will give you a better insight on the details in the form. If you need some changes, you can ask your lawyer to modify the form to show your desires. Real estate transaction can be simple. But you can make it simpler by hiring real estate lawyers in Los Angeles. They can guide you in the process and prevent you from making a decision that you will regret. Contact Gomez and Simone real estate lawyers in Los Angeles today at (855) 219-3333.

 

local civil law attorneys

Local Civil Law Attorneys Can Help When Injured by Defective Products

Defective products can cause injury. Many of our clients at Gomez and Simone law firm would ask our local civil law attorneys if they could file a complaint against a defective product. Products liability law can protect consumers in case a product is defective. This law is founded on the idea that manufacturers should take full responsibility to make sure that the products they sell will not cause injury to users when they are used as instructed.

local civil law attorneysHow Should You Sue?

A defective product case can have many factors to consider. But the responsible party will depend on the defect. You will be paid for your injuries by the manufacturer of the product. But in some cases, compensation for injuries is handled by the company that installs the product or the manufacturer of a component of the product. A wholesaler or a retailer of the product may also be sued. When filing a claim, your options are not limited to a single person or a company. Multiple parties could be liable for your injuries. But who will those parties be? Our civil law attorneys can investigate on this matter. However, before you file a claim, you must make sure that you have used the product as instructed. And that you have read the warnings on the label. You can have a product liability case if you used the product according to its instructions but still got injured. Consider consulting our civil law attorneys at Gomez and Simone law firm to help you get compensation for your injuries.

Evidence

Before our team of civil law attorneys can draft your liability lawsuit, we need to gather evidence that can prove that your injuries are indeed a result of the defective product. Our civil law attorneys are equipped with the right resources to make sure that the manufacturers of the defective product will be held accountable for your injuries. We have been handling product liability claims throughout Los Angeles.

Preserving the Product

When you get injured, the first thing that you must do is to keep the product. Never throw it away or try to repair it yourself. The product must be in a condition when it is left in after the accident. After securing the product, your next step is to prove that there is a defect in the design or manufacturing of the product making it unsafe or dangerous. The most difficult part of a defective product case is to prove that it is indeed the reason for your injury. However, you do not have to worry as Gomez and Simone civil law attorneys will help you get the compensation that you deserve. Our office offers free consultations.

How Much is the Compensation?

Your compensation will depend on the economic damages, like disability costs, property damage and lost wages. You will also get compensation for non-economic damages, like pain and suffering. You do not need to get through a product liability case alone. Our local civil law attorneys at Gomez and Simone law firm have the right experience to win your case. Call us today for a free consultation: (855) 219-3333.

 

bankruptcy attorney Glendale

Bankruptcy Attorney in Glendale CA: Consequences of Filing Bankruptcy

Bankruptcy can be avoided. You need to live within your means. Do not overspend. Unfortunately, some people overlooked their finances causing them to take up loan after loan. In the end, they need to file bankruptcy. But before you do so, here are some consequences of filing bankruptcy as provided by our bankruptcy attorney Glendale, CA.     

bankruptcy attorney GlendaleEmotional Toll

It is not an ordeal. It is like undergoing divorce or losing your loved one. And when you declare bankruptcy, it becomes public domain. It means that your personal information will show up in court records. That said, the public can access it. Banks, potential clients, and employers can view the information of your bankruptcy details. Apart from that, filing can be expensive. The fees can start at $300. It can go up, depending on the type of bankruptcy you have filed for. Moreover, it will be tough to buy a home in the future. It can take up to four years before your mortgage loan will be approved. Because of these difficulties, it is best to heed these things before taking any action.

Talk to Gomez and Simone Law

Our bankruptcy attorneys in Glendale, California are ready to assist you in proving your options. We know the emotional toll that this filing can bring. That’s why we recommend getting professional help first. Should you decide to file, make sure to work with our professional team to help you walk through the process. Our team will guide you from step one through the final step.

Organize the Paperwork

You must know all your debts. That is, from mortgage to your student loans. Then, make sure to verify the amounts for every debt that you have. These details are vital when consulting our bankruptcy attorney.

Pay Off Your Debt

Even if you have decided to file for bankruptcy, you must still try your best in paying off your debt. You must look at your budget or talk to your creditors. Your creditors might help in lowering your interest rates. They may even give you better terms. Our bankruptcy attorney also recommends working with a financial coach. This coach will give you an unbiased view of your financial situation. Perhaps, after working with a financial coach, you might gain some insights on how to pay off your debt without having to file for bankruptcy. Your coach will lead you in the right direction. If you have decided to file for bankruptcy, make sure to work with our bankruptcy lawyer. At Gomez and Simone law firm, we can give you all the resources you need to assist you throughout the process. We understand that it is a difficult situation. Our attorneys will be there to support your case. But we also give pieces of advice on how to avoid it. We can recommend you to some financial coaches to improve your finances after filing bankruptcy. For a consultation, contact our bankruptcy attorney in Glendale, CA at (855) 219-3333.

 

an estate planning attorney in Los Angeles

An Estate Planning Attorney in Los Angeles Advice on Leaving Inheritance

Your real estate business is booming. But, as early as now, you must plan about who will inherit it when you are gone. If you are reluctant to give your real estate to a family member, you may wish to contact an estate planning attorney in Los Angeles first. There are many cases where heirs mismanaged the lump sum of money left by their parents or relatives. They spent it too quickly because they lack guidance. By talking to an estate planning attorney in Los Angeles, you can set up a trust to prevent this issue.

an estate planning attorney in Los AngelesWhat is a Trust?

It is a legal tool that lets you put some restrictions on how to distribute your assets. To avoid giving your loved ones a lump sum of money, you could set up terms that would let them receive a certain percentage of your assets per year. You may also choose a trustee and give him an authority to choose when an heir would get the money and how much. But picking a trustee can be quite difficult without consulting an estate planning attorney. At Gomez and Simone Law, our estate planning attorneys recommend not to pick a sibling as it will only result in bickering among your family members. The best solution here is to choose a financial institution that offers a trustee service. Or, if you have a close family friend that you can trust, then you can pick him as your trustee. When setting up a trust, though, you must consider your intentions and goals. Consider leaving more to a loved one who has special needs. Or you may wish to put up a trust for your grandchild that can assist him with his college. It is also vital to advise your heirs about your plan on how to distribute your assets when you are gone. If you picked a trustee, you must invite him to your financial appointments with your heirs.

Consulting an Estate

Consulting an estate planning attorney will guide you through the federal and state tax laws. Our attorneys will assist you in choosing the type of trust that best suits your needs. There are different types of trust. Our estate planning attorneys will find the best type that could protect your assets from creditors. After you pass on, we make sure that your hard-earned money will be used appropriately by the people you love. Our estate planning attorneys at Gomez and Simone law firm have years of experience in setting up a trust or draw a will. They are sought-after attorneys in Los Angeles to set up a trust that makes sure your wishes are fulfilled after you pass on. At Gomez and Simone Law firm, our team of estate planning attorneys in Los Angeles will give you guidance and legal services that can resolve issues related to your real estate. You can call our attorneys today for a free 30-minute consultation. This free consultation is only valid for civil case analysis. You can reach us at  (855) 219-3333.