Tip of the Week in Review

Introducing our "Legal Tip of the Week." Every week, the Law Office of Doug Peterson keeps an eye on the latest law news and provides a quick tip to keep all our Clients, Friends and everyone we call Family in the know.   It's a quick "trending" tip to complement our Blog Posts, on topics like Tax, Estate Planning, Wills, Family Law and more.  You can stay in touch here weekly or click below and "Follow Us" on Facebook.

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What Renters should know:

Landlords are required to provide you with a habitable living space – this generally means the heat must work, there must be running water, and there must actually be four walls and a roof that provide protection.  If your domicile is experiencing issues with any of these items, and you have notified the Landlord of the issue and he has neglected to fix, you have the right to withhold rent until the issue is fixed.   -11/28/21

2

Capital Gains Tax can seem complicated:

Capital gains tax can be avoided on certain assets by holding onto the asset until death and letting the asset pass to a beneficiary.  The beneficiary will enjoy a “step-up” in basis, that basically re-sets the “cost” of the asset to fair market value at the time of death.   -11/21/21

3

Naming contingent beneficiaries is part of a thorough estate plan.  Naming a contingent Executor or Personal Administrator will make your plan even stronger.    -11/12/21

4

Filing for Bankruptcy and your Taxes

If you are overwhelmed by personal expenses and starting to consider bankruptcy, know that all prior year tax returns must be filed.  The tax itself does not necessarily need to be paid, but the return must be filed for all years.   -11/5/21