It’s remarkable how persons come out of the woodwork after a relative’s death, claiming that they should get a share of the decedent’s estate. Especially when the decedent left money to someone not related by blood who helped care for the person in his or her declining years. In this case, the wicked step-daughter. The …
Monthly Archives: September 2010
Statute of Limitations Provides Harsh Result for Claim Against Estate
California provides a one-year statute of limitations for claims against a deceased person. If a claim exists against a person as of the time of that person’s death, an action based on such claim must be filed within one year after death or forever be barred. Caveat – This rule assumes that the claim existed …
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State Law Comparison of Fiduciary Duties Applicable to Limited Liability Companies
A recent article by attorney Thomas M. Madden compares the fiduciary obligations applicable to limited liability companies under the laws of five different states – Delaware, Massachusetts, New York, California, and Illinois. Mr. Madden concludes that, “A look at the five major states’ codes will quickly dispel any presumption that all states treat limited liability …