Thursday, January 10, 2008
Some of the finest Labor Laws attorneys are based in California. Many other states model themselves after California when it comes to Labor laws. California Labor attorneys are always on the lookout for any changes or new bills that may come up that effects California overtime or other California labor laws.
In 2006 the California Department of Labor passed new legislation regulating car washes. In 2006 the California Department of Labor passed legislation to protect computer programmers and IT professionals against overtime abuses. Most labor law cases are created when too many abuse cases against labor law come into play. California labor law comes into play with such things as employees meals and breaks.
There is an ongoing discussion as to whether meals and breaks, if not provided by employers, should be a penalty or a wage. This is where, by staying in touch with the new laws, the labor attorneys are able to keep tabs on the on going law changes, additions and amendments.
California employees should be aware that when an employer releases an employee, the wages earned and any unpaid leave at the time of their discharge are due immediately.
When an employee quits without notice his or her wages shall become due within but no later then 72 hours unless there is a contract involved with the employment. If the employee has given at least 72 hours of notice prior to quitting then the employee is due his or her wages at the time of quitting.
An employer cannot demand that an employee work during any meal or rest break mandated by an applicable order of the Industrial Welfare commission. If this would ever occur the employer shall pay the employee one additional hour of pay at the employee's regular rate of compensation.
Wages include all amounts for labor performed by employees of every description, whether the amount is fixed or ascertained by the standard of time, task, piece, commission basis, or other method of calculation.
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Ulises Tarmet is a paralegal who has worked with many California Overtime Lawyers educating many clients about California Overtime Laws.
Joint Tenancies for Probate Avoidance
A joint tenancy with right of survivorship can be a useful probate avoidance tool. Under these arrangements, both tenants are entitled to full use of the jointly-titled assets during their lives (to the extent their use is not inconsistent with the other joint tenant’s use and enjoyment of the property. At the moment of death, the deceased tenant ceases to have an interest in the asset and it is immediately vested in the surviving tenant.
Joint tenancies with right of survivorship avoid probate because the property passes automatically to the joint tenant at the death of the first tenant to die. Although the joint tenant may need to file something in the land records or provide a death certificate to third parties, the jointly-titled asset does not pass through the probate estate of the deceased tenant. The jointly-titled asset passes to the surviving beneficiary outside of the deceased tenant’s will or revocable trust. Retirement plans and IRAs are governed by beneficiary designations and cannot be held in joint tenancy.
Joint tenancies can be a dangerous estate planning device. The person named as a joint tenant becomes an immediate co-owner with immediate rights to the jointly-titled assets. For bank accounts, one joint tenant usually has the right to withdraw the entire account. If the joint tenant is untrustworthy or is a poor asset manager, the property titled in the joint tenancy is placed at risk. Joint tenancies do not provide an opportunity to plan for coordination of a person’s affairs at their death, such as paying taxes on the property and debts of the estate.
Joint tenancies can also cause adverse tax consequences. The act of naming a joint tenant is often considered a gift if the tenancy is not revocable (as is usually the case). Unless the joint tenant is a spouse, this can result in gift tax if the joint-tenant’s share of the property exceeds the annual exclusion amount. For personal residences, non-spousal joint tenancy interests can cause the loss of income tax exclusions that are available upon the sale of the home if the joint tenants do not meet the age requirements or reside in the residence.
Joint tenancies are also risky from an asset protection point of view. Titling the assets jointly opens the door to claims of co-owners, their creditors, and, in the event of a divorce, spouses of the co-owners. Because the signature of all joint tenants is generally required under state law, your ability to deal with the property could be thwarted by an uncooperative joint tenant. This can be especially risky if the property is held by multiple joint tenants.
Although these disadvantages make joint tenancies unsuitable as a primary estate planning devise, joint tenancies can play an important role in an overall estate plan. When used in combination with a more flexible probate avoidance devise, such as a revocable trust, joint tenancies can be an effective tool to achieve your goals.
Mississippi Probate Attorney - Mississippi lawyer specializing in probate, wills, trusts, and estate planning. Visit www.Mississippi-Probate.com to learn more about avoiding Mississippi probate and Mississippi executor duties.
Using Beneficiary Designations to Avoid Probate
Estate planners have a variety of probate-avoidance tools at their disposal. One of these is beneficiary or payable on death (POD) designations. Beneficiary and POD designations allow you to determine who will benefit from life insurance contracts, retirement plans (including pension-sharing, profit, and 401(k) plans), and IRAs at your death.
Beneficiary and POD designations avoid probate because they are contractual obligations that are not governed by the terms of your will. Because the designated assets pass to the designated beneficiaries outside of your will, there is no need to probate the will in order to validate the transfer of these assets. If, for example, you have designated a beneficiary of your life insurance policy, there is no need for the probate court to validate the transfer to the beneficiary because you have already expressed your desires in the insurance contract.
Beneficiary and POD designations are easy to create. You simply name someone on the ownership documents (such as registration card for a bank account) as the designated beneficiary. At your death, the beneficiary will take title to the designated assets.
Beneficiary designations can be preferable to certain other probate avoidance techniques, such as joint ownership, because they allow you to retain full control of the designated assets, often including the right to name a new beneficiary, prior to your death. Your beneficiary has no access to the assets during your lifetime, avoiding the risk that an ungrateful beneficiary will attempt to seize control of the assets prior to your death.
Many states allow the designation of “payable on death” (POD) beneficiaries of banking, savings and loan, and other financial accounts. You may change the POD designations at any time and name alternate beneficiaries in case you are predeceased by a beneficiary.
Beneficiary designations can be a better alternative to joint tenancies for some financial accounts because they do not subject the property to the intended beneficiary’s immediate control. However, beneficiary designations are only available for certain type of assets, such as financial accounts. For example, beneficiary designations cannot effectively dispose of real estate and many other types of assets. This limits the benefit of beneficiary designations in your overall estate plan.
It is important to note that although these devises may avoid probate costs, they do not avoid estate and inheritance taxes simply because they avoid probate. This is because your taxable estate does not always coincide with your probate estate. For example, life insurance proceeds will generally be included in your estate if you possess “incidents of ownership” on the policies within three years of your death, even though such policies are nonprobate assets. It is important to consult with a qualified estate and trust attorney to determine the best strategy for accomplishing your overall estate planning goals.
Mississippi Probate Attorney - Mississippi lawyer specializing in probate, wills, trusts, and estate planning. Visit www.Mississippi-Probate.com to learn more about avoiding Mississippi probate and Mississippi executor duties.
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