- GuardianshipGuardianship is a legal proceeding initiated to appoint someone – usually a relative – to act as the person responsible for exercising the legal, medical and/or educational decision-making for a minor child in situations where the parent or parents are unable or unwilling to make those decisions. Sadly, guardianship proceedings typically involve families with serious drug and/or alcohol addiction problems and the child simply needs a roof over his or her head, or someone who can pick him or her up from school or talk to the dentist on his or her behalf. However, there are other occasions where a guardian must be appointed such as when necessary to protect the interests of a minor in connection with a legal settlement and who must exercise subsequent management and control of investment of the settlement proceeds. Guardians have many of the same responsibilities of conservators – court supervision, fiduciary duties and a duty to account where called upon to do so. A guardianship typically expires when the child (or “ward”) turns 18 but can be extended to age 21.
- Corporate Law
- Business DisputesAs a Certified Specialist in Estate Planning, Trust and Probate Law, Greg Peterson provides estate planning services designed to fulfill client objectives, protect wealth, and provide protection and direction for health care choices and asset management. Greg combines tax and estate planning fundamentals with a solid understanding of real estate and business law for comprehensive planning solutions.
- Construction Contracts
- Trade Secrets
- Intellectual PropertyAll of the Intellectual Property, including, without limitation, all content, text, graphics, video and sounds on the K. Greg Peterson, A Professional Law Corporation Website, and all computer code associated therewith, are the property of K. Greg Peterson, A Professional Law Corporation, its licensors and contributors, and are subject to copyright, trademark and other intellectual property protection. When accessing the Site, you agree to obey the law and to respect the intellectual property rights of others. Your use of the Site is at all times governed by and subject to laws regarding copyright ownership and use of intellectual property.
- Real Estate LitigationGreg Peterson has more than thirty years of legal experience representing clients. He began his career in the San Francisco and Los Angeles metropolitan areas and moved to Sacramento in 1988 where he took a position as an associate with a reputable commercial real estate law firm. He has since been a sole practitioner and has significant trial experience in federal and state court, both in jury and non-jury trials.
- Construction LitigationNearly any civil dispute can be resolved through mediation, including business, real estate, environmental and construction disputes. We have also seen very significant growth in mediation of trust and will contests, trust, estate and probate litigation, and litigation against or involving trust beneficiaries & trustees and will executors. The high cost of litigating cases to trial for both sides has led to the exponential growth in the popularity of mediation. Because we are experienced in resolving disputes through litigation as well as mediation, we can help you determine the best course of action for your particular situation. Whatever your goals, we are dedicated to seeing your case through to resolution, by providing exceptional representation at every stage along the way.
- Real Estate TransactionsGreg’s extensive experience with business and real estate transactions helps guide him when formulating complex trust and estate plans. He is particularly adept at developing plans involving commercial, investment and agricultural properties, family businesses, and other interested parties. His courtroom and mediation experience make him an effective advocate in complicated probate and trust litigation disputes.
- Eminent Domain
- Easement
- Estate PlanningThe terminology and concepts pertaining to estate planning, probate and trust law can be confusing – we hope the discussion of the various topics identified below will help you to better understand common estate planning concepts and procedures.
- WillsA will contains your instructions for managing your estate – but a will alone subjects the estate to the probate court process. This is why wills and trusts go hand in hand. Establishing a living trust can help your family avoid costly, uncertain, and public probate proceedings. A trust helps you avoid probate and also allows you to plan around unnecessary estate, income and real property taxes. As a Certified Specialist in Estate Planning, Trust and Probate Law, Greg Peterson can help you build a plan that allows you to preserve and control what happens to your assets – even after you’re gone.
- TrustsWhenever someone has passed away payment of their final expenses and creditors is a significant part of the Trust Administration or Probate Estate Administration process. All known creditors are notified of the decedent’s passing and given an opportunity to present their claims to the estate for payment. The Executor or Administrator of the estate then decides which creditors claims he or she will agree to pay and which are contested. A creditor whose claim is contested has a certain period of time within which to file a petition demanding payment and the Executor or Trustee can then oppose the petition. The creditor has the burden of proof. Unless a creditor pursues this process or files suit to collect in time, no claims may be brought against the estate of a decedent more than one year following the date of death.
- Power of AttorneyAn Accounting is a remedy provided for in the Probate Code and often in many Trusts. It allows a Beneficiary to hold a Trustee, Executor or Agent under a Trust, Will or Power of Attorney accountable for property (typically money) entrusted to that person. Even when a Trust waives the Beneficiary’s right to an Accounting, if a Beneficiary can show a reasonable likelihood of a material breach of the Trust and makes a demand for an accounting, the Trustee must produce a detailed Accounting. Or, if a Beneficiary can show the Trustee has failed to keep the Beneficiary reasonably informed of Trust administrative matters, the Beneficiary can similarly demand the Trustee provide certain requested information. Procedures are available in the Probate Court to compel the Trustee or other fiduciary to produce an Accounting, and/or to object to an Accounting presented by the Trustee. Frequently though it is in the Trustee’s best interest to report information and to account voluntarily, and on a regular basis, even if the Trust is not subject to continuing court jurisdiction and oversight. The accounting process sheds daylight on the Trustee’s activities with Trust property but at the same time it also forces the Beneficiary to raise any issues he or she may have with an Accounting or – within certain time limitations – claims against the Trustee for mismanagement, breach of trust, surcharge, etc., may thereafter be barred as a matter of law.
- ProbateOn this page you will find answers to questions and explanations of common terminology related to Estate Planning, Trust and Probate Law and Mediation. We have put this guide together because knowing some of the concepts and legal terminology can help you better understand your needs and the ways that an attorney can help you.
- Foreclosure
- Tax LawThe big three – estate, income and real property taxes – must always be carefully considered in crafting any estate plan. Estate taxes apply, under current law, to the gross estate of any person that exceeds $11.18 million, or $22.36 million for a married couple. This means a death tax of $0.40 on every dollar over these amounts has to be paid in the form of estate taxes to the federal government. Obviously, not all estates are of this size but given the punitive nature of the tax it is always important to consider a client’s age, earning potential and future events that could result in a larger estate. With the increase in the estate tax exemption under the Trump tax law, income taxation planning has jumped to the forefront of good estate planning. Clients will want property to qualify for a “step up in basis” at the time of their passing so that the property can be immediately sold, if that is the plan, free of any income tax liability on the gain (the tax that would otherwise be imposed on the difference between the sales price and the decedent’s original basis). On the other hand, if there is real property that the beneficiaries are relatively certain to keep, then another increasingly important consideration is the extent to which any increase in real property taxes might be avoided. In California, a decedent’s interest in a primary residence can be passed to a child exempt from reassessment for real property tax purposes. This is true regardless of fair market value. As for investment properties to be bequeathed by a parent to a child, for example, California law also allows a $1M exemption from reassessment, and the exemption amount can be split between different properties. Investment property held in the name of both spouses can also qualify for two $1M exemptions (totaling $2M) - one per spouse.