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THE VALLEY BUSINESS JOURNAL 14 www.TheValleyBusinessJournal.com November 2017 A Personal Injury Primer by Morton J. Grabel, Esq. If someone injured you through their negligence in driving a vehicle, you may have rights under the law. You want to protect those rights so you don’t end up paying for someone else’s careless driving. Read the top 10 reasons why hiring an experienced attorney will help protect your rights. 1. You have only a limited time to sue: In California, the statute of limitations for filing an accident claim is limited. If you don’t sue within a specific time, you give up your right to sue forever. 2. You will need to comply with certain rules to sue: An experienced attorney who handles personal injury matters will be familiar with the laws and can help you make sure you don’t do anything that jeopardizes your rights. 3. Your insurance company may have a different agenda: Generally insurance companies aim to protect their insured and to compensate fairly for damages. However, insurance companies also aim to keep expenses down. Since your agenda and your insurance companies agenda may not align; hiring an attorney can be the best way to insure you have an advocate on your side. 4. You may not fully understand all of your potential damages: There are various potential damages available when injured in a car accident. In addition to medical bills, you may be able to recover for lost wages, pain/ suffering, emotional distress and possibly for your spouse or family members. 5. Proving liability can be complex: Even with favorable witnesses and a police report; proving there was negligence and a legal duty of care was breached still may be difficult. There are many elements that go into winning a personal injury lawsuit, you should hire an attorney who understands the law and can support your position with proper case law and citations. 6. The laws differ from state to state: Auto insurance and auto accident rules are decided by each individual jurisdiction. An experienced attorney in California can explain the nuances of the laws here, so you will understand your rights. 7. You need to understand settlement options: Most cases settle out of court, which means the defendant or his insurance company is likely to make you an offer. Your attorney can help you understand the implications of accepting the offer; because once you settle, you give up your right to sue forever. 8. Filing a lawsuit requires adhering to complex rules: If you decide to sue, you will have to file the correct papers in the right court. This is not simple; complex rules exist on everything from the font size of the brief to how legal precedent is cited and what evidence is admissible. 9. Proving your case is even more complex: Just as filing your case is complex, proving your case is more difficult. You may be permitted to “discover” certain information from the other side through a detailed process and set of rules, and you may be limited in the types of witnesses and evidence you present. There are even restrictions on the kind of questions and phrasing of questions you may ask in court. Furthermore, extensive legal research is often required to prove your case. 10. If you don’t hire an attorney, you could be faced with financial loss: If you don’t sue in time or if you don’t sue for the right damages or sue the wrong defendants or if you lose your case you will be barred from ever suing again. This means you will have eliminated your only chance for recovery and you may be stuck with all the costs and bills as a result of the accident that someone else carelessly caused. Please note: the information provided herein is general and not to be relied upon for your circumstance or case. For further information or if you have any legal questions please call the Law Office of Morton J. Grabel, in Temecula at (951) 695-7700. Mort originally from Philadelphia, PA is a graduate from an ABA Law School, has an MBA, a California Nursing Home Administrator’s License & a California Real Estate Broker’s License [all active and in good standing]. “ If someone injured you through their negligence in driving a vehicle, you may have rights under the law
November 2017 THE VALLEY BUSINESS JOURNAL www.TheValleyBusinessJournal.com 15 Gifts of Appreciated Assets by Andrea Shoup LEGAL by by Andrea Steve Fillingim Shoup November 15 is National Philanthropy Day, and now is the perfect time to review your assets and estate plan to find a way to make a charitable gift and be recognized as a donor. One of the best ways to support your favorite charity is through gifts of appreciated assets. This can also be an excellent estate planning strategy, since the gift can either be made right away or through your will or trust. That choice will depend your tax situation and need to use the asset currently (such as your family home). Types of Assets The most common types of assets gifted to charities are stock, bond or investment portfolios and real estate, but you can also gift art or antiques of value. The more appreciated value the asset has, the greater the tax advantage and benefit to the charity. Tax Advantages for Current Gifts: The “Triple Benefit” The primary reasons that you might make a gift of appreciated assets rather than cash are the tax advantages. This only applies to ‘long term’ assets held for more than one year, and there are three distinct tax benefits for you and your estate. First, you will avoid paying any capital gains tax on the asset when you transfer title to the charity. For example, if you bought a share of stock at $10 and it is now worth $100, your capital gain would be $90 if you simply sold it, and you would pay capital gains tax of 15-20% on that amount. The qualified charity pays no tax on the gift value. Second, when you give the stock to charity, you also get an income tax deduction on the current value, and the charity receives the entire benefit of the appreciated value. Finally, a current gift removes the property from your estate, which can help minimize estate taxes if necessary. IRS Rules The IRS does have some rules when it comes to making gifts of appreciated assets, and if you don’t follow them you may have to pay taxes anyway. For gifts over $5000 you need an independent appraisal to meet IRS rules and verify the value. You also have to provide a written description of the property. Using a Trust to Gifts Assets to Charity Another option aside from gifting assets currently, is to make the charity a beneficiary of a trust where the assets are held. Then, the trustee would disburse the assets or income according to the trust terms, which can specify amounts or specific charitable purposes. Charity Preference A final consideration with this type of gift is the preference of the charity. Some types of property are not easily sold or the charity may not have the resources to manage it. It is best to check with your favorite charity and see what their policy is regarding appreciated assets. If you have questions about charitable giving and estate planning strategies, please contact Attorney Andrea K. Shoup at 951-445-4114 to review your options. See change as an opportunity - keep an eye out for changes to your business. ~ Jack Welch New Officers Installed for the Kiwanis Club of Temecula Valley The Kiwanis Club of Temecula Valley held their 39th Annual Installation Dinner on September 26th at 8-Bit Brewery in Murrieta, where they installed new officers for 2017- 2018. Outgoing club president, Gregory Kind, who served two consecutive terms in that post, emceed the event, which was attended by more than 70 members, family, and friends, including many who came specifically to honor the club’s incoming President, Tom Teagle. “We have many very dedicated Kiwanis members who devote significant time, effort, and energy in support of Michelle’s Place, the Boys and Girls Club, Oak Grove, Rady Children’s Hospital, Cub Scouts, the Salvation Army, the Field of Honor, LifeStream Blood Bank, the City of Temecula, and other local charitable organizations,” said Kind. “In addition, we raise significant funds to support eleven high school Key Clubs and provide scholarships to students at each high school.” Lori Butler, the outgoing Lieutenant Governor for Kiwanis Division 37, of which the Kiwanis Club of Temecula Valley belongs, was very complimentary of Greg Kind’s service as President, as well as heaping praise on the entire club for their commitment to the mission and ideals of Kiwanis International. She also de-installed the outgoing officers and directors, as well as installed the incoming officers and board members. Teagle will serve as club president as of October 1, 2017. Additional officers include: Lynn Effinger, President-Elect; James Stead, Secretary; Peggy Moore, Treasurer, and Steve Yung, Assistant Treasurer. Gregory Kind will serve as Immediate Past President. The newly installed Board of Directors include Grant Thurman, Ken Ray, Chuck Skaggs, Dale Qualm, David Gibbs, Debbie Hartman, Paul Rieker, and Rich Connington. Brandy Baez Colon and Paul Rieker will serve as an Alternate Directors. In addition to the swearing in of officers, Captain Hayes of Cal-Fire, which serves as Temecula Valley’s fire department, accepted the Kiwanis Club of Temecula Valley’s Jimmy Moore Citizen of the Year Award on behalf of all those firefighters who help to keep citizens and their properties safe from fire. Lynn Effinger, who also serves as Membership Committee Chairperson, was named Kiwanian of the Year for his contributions to the club’s community service efforts. The President’s Award was given to Tom Teagle for his exemplary service as a member of the club and for serving as President-Elect over the past two years. Kiwanis is a global organization of volunteers dedicated to improving the world one child and one community at a time. The Kiwanis Club of Temecula Valley is focused on serving the needs of their community with emphasis on children. For information about the Kiwanis Club of Temecula Valley, please visit their web site at www.kiwanistv. org, or you may call Lynn Effinger at 951-514-5699.
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