Estate Planning • Probate • Trusts • Bankruptcy • Real Estate • Business
My practice focus is on addressing the needs of individuals and small businesses in the area of estate and succession planning, real estate and business transactions and consumer bankruptcy (Chapter 7 and 13). I also serve as the Lake County Public Defender for Conservatees.
Estate Planning: There are four key documents that should be evaluated for use for every individual. Not everyone needs all of the documents.
1. Advanced Health Care Directive: Allows you to name the person or people you would like to make health related decisions for you if you are not able to do so.
2. Power of Attorney for Financial Matters: Allows you to name a person to manage your property and personal affairs (not health related) if you are unable to do so.
3. Will: A will allows you to direct the distribution of your personal or real property after your death. If there your assets are valued over $100,000 at your death, the Probate court will manage and oversee the distribution of your estate. A will does not direct distribution of life insurance or retirement fund assets.
4. Trusts: Individuals who have property (real and personal) valued at more than $100,000 may need to consider establishing and funding a Trust. A trust can direct the distribution of property and avoids the need for oversight by the Probate Court.
In addition, if you have life insurance or any retirement accounts you should review the beneficiary designations to be sure the proceeds will pass to the individuals you want to receive them. If you do not have a beneficiary designated, the funds may end up in your estate and need to go through the Probate Court.
Bankruptcy: Many individuals have been caught out in the current economic downturn and have run up large amounts of credit card, medical or real estate debt as the result of job loss, falling property values and business declines.
Bankruptcy gives consumers and small businesses a fresh start by eliminating unsecured debt (in chapter 7) or allowing you to make partial payments to your unsecured creditors for three years and eliminating the balance of the unsecured debt at the end of the three year period (chapter 13). [Note that I do not work with other types of bankruptcy cases.]
Instead of struggling and getting deeper into debt, a new start may give you the breathing room you need to live within your means and survive the current downturn.
Real Estate and Business Law: Small business people and individuals are often called upon to sign or enter into contracts with others. I am often asked to review documents before they are signed to help insure that the terms of the deal are what they have been represented to be.
Sole proprietors may want to consider protecting their personal assets by establishing a different type of business entity (corporation, limited liability company, partnership, or joint venture). I can advise them on the pros and cons of the different forms of business entity that work for their type of business
Business owners may decide to retire or sell the business they have worked hard to create and sustain. I can support them through the sale process and the transfer or dissolution of the business entity.
I am also able to assist with the review or preparation of real estate documents (deeds, affidavits of death of joint tenant, etc.) for individuals and businesses.
Mary attended Golden Gate University School of Lawl. You can find her on the Cornell University Law School registry and has been practicing since 2003.
Mary is also a board member of the Clearlake Oaks Glenhaven Business Association.
Mary is also President of the Lake County Bar Association.