Start Planning Now to Prepare Your Estate for a Possible Democratic Sweep—Part 2

No matter who you vote for on November 3rd, you may want to start considering the potential legal, financial, and tax impacts a change of leadership might have on your family’s planning. As you’ll learn here, there are a number of reasons why you may want to start strategizing now if you could be impacted, because if you wait, it could be too late. In terms of financial, tax, and estate planning, it’s almost Read More

Tax Attorney vs. CPA: What’s the Difference?

When you’re dealing with something as complicated as taxes, you need a specialist who can meet your needs with surgical precision. Even then, not every tax professional is the same. Take, for instance, certified public accountants (CPAs) and tax attorneys; while both of these professionals have deep knowledge of intricate issues, they occupy distinct roles for taxpayers. In this blog, we’ll dive deeper into the Read More

What Does Proposition 19 Mean for Estate Planning and Inheritances?

If you live in California, you’ve probably heard a lot about Proposition 19. It was on the ballot in the 2020 general election alongside Proposition 15. Proposition 15 would have raised taxes on commercial properties, but it was defeated in the vote. Proposition 19, however, was passed by the state of California. What exactly does it mean? Before we explain it, let's take a brief look at who it applies to: Read More

4 Reasons Why You Can’t Afford to Go Without An Estate Plan

When it comes to putting off or refusing to create an estate plan, your mind can concoct all sorts of rationalizations: “I won’t care because I’ll be dead,” “I’m too young,” “That won’t happen to me,” or “My family will know what to do.” But these thoughts all come from a mix of pride, denial, and above all, a lack of real education about estate planning and the consequences to your family of not planning. Once Read More

Protect Your Family from the Dark Side With a Lifetime Asset Protection Trust

When you create your estate plan, the idea that one of your adult children would ever use their inheritance to bankroll a cult is probably something you’d never dream of, much less anticipate.  Yet that’s exactly what 40-year-old Clare Bronfman, heiress to the multi-billion-dollar Seagram’s fortune, did with hers.  In the end, with her inheritance—and the power that came with it—she was led her down a dark path Read More

Start Planning Now to Prepare Your Estate for a Possible Democratic Sweep—Part 1

No matter who you voted for this year, you may want to start considering the potential legal, financial, and tax impacts a change of leadership might have on your family’s planning. And as you’ll learn here, there are a number of reasons why you should start strategizing now, because if you wait, it will very likely be too late.  Although the Presidential election seems to be decided (political views aside), Read More

Retirement Planning and Charitable Remainder Trusts

For all the benefits of the SECURE Act, those wishing to put down non-spouse beneficiaries on IRAs and other retirement plans have had to come up with creative ways to avoid a large tax bill for those beneficiaries. Under the current rules, non-spouse beneficiaries must withdraw the entire amount from the plan within 10 years after the owner’s death or pay taxes (there are a few other exceptions for Read More

Questions & Answers On COVID-19 Tax Changes for 2020

Throughout 2020, Congress passed multiple pieces of legislation—most notably the Coronavirus Aid, Relief, and Economic Security (CARES) Act—offering numerous forms of tax relief to help businesses like yours deal with the economic fallout of COVID-19.  That said, these new laws have also created a tangled web of new tax and accounting changes that can be quite challenging to keep track of. To help you sort through Read More

What You Should Know Before Agreeing to Serve as Trustee

Being asked by a loved one to serve as trustee for their trust upon their death can be quite an honor, but it’s also a major responsibility—and the role is definitely not for everyone. Indeed, serving as a trustee entails a broad array of duties, and you are both ethically and legally required to properly execute those duties or face potential liability. In the end, your responsibility as a trustee will vary Read More

What the Netflix Series Tiger King Can Teach You About Asset Protection Planning – Part 3

Anyone who has seen the hit Netflix documentary Tiger King: Murder, Mayhem, and Madness can attest that it’s one of the most outlandish stories to come out in a year full of outlandish stories. And while Tiger King’s sordid tale of big cats, murder-for-hire, polygamy, and a missing millionaire may seem too outrageous to have any relevance to your own life, the series actually sheds light on a number of critical Read More