CLIENT ALERTS

Supreme Court

Obamacare Lives, But It’s Worse…

King vs. Burwell (A dark day for the SCOTUS)

Dear Clients, Colleagues, and Friends,

Getting dressed for work yesterday morning, I was taken aback when I heard the outcome of the US Supreme Court’s 6-3 majority vote in the case of King vs. Burwell in favor of upholding Obamacare.

After reading the Court’s opinion, and especially Judge Alito’s vigorous dissent, I received an e-mail from a colleague, David Hiersekorn, who shared his thoughts about the decision that really caught my attention. A local tax and business lawyer, my colleague’s comments about the Burwell case were so spot-on that I called to commend him and ask permission to share his blog in its entirety with my loyal Client Alert readers. Then, when you attempt to reconcile the Burwell decision with that of Robert’s dissent in the SCOTUS same sex marriage case, you come away more confused than ever. Continue reading

Freedom Fest

Jeffrey Verdon, Esq. to Speak and Exhibit at FreedomFest Conference

Dear Clients, Colleagues, and Friends,

The Las Vegas based FreedomFest is an annual festival where free minds meet to celebrate “great books, great ideas, and great thinkers” in an open-minded society. It is independent, non-partisan, and not affiliated with any organization or think tank. Founded and produced by Mark Skousen since 2007, FreedomFest invites the “best and the brightest” from around the world to talk, strategize, socialize, and celebrate liberty. FreedomFest is open to all and is purely egalitarian, where speakers, attendees, and exhibitors are treated as equals.

Since its inception, FreedomFest has met in Las Vegas, the world’s most libertarian city. Where else can you see a great show, eat at a five-star restaurant, visit a museum, enjoy the entertainment, or see the lights and sounds of the world’s freest resorts and casinos after a long day of intellectual learning and debate?

Who should attend FreedomFest? It’s open to anyone who enjoys a wide interest in books, art, music, film, and drama in all topics, including science, philosophy, economics, health, sports, technology, business, religion, law, and politics. FreedomFest attracts people of all walks of life and across the political spectrum to learn, debate and honor great books, great ideas, and great thinkers.

The inaugural meeting drew 500 attendees. This year, attendance is expected to exceed 3000. I have had the pleasure of being a speaker and exhibitor who each year presents on a wide array of advanced and effective topics on comprehensive estate planning, income tax, and asset protection strategies from unforeseen legal attacks and litigation. The speakers, all renowned experts in their respective fields, will share in the intellectual feast about freedom, prosperity, individual rights, and so much more.

We invite you to join me and the other interesting and knowledgeable speakers and exhibitors at FreedomFest 2015, July 8-11, at Planet Hollywood in Las Vegas, for three and half days that could change your life. There will be over 200 speakers including Steve Forbes, Glenn Beck, John Mackey, John Stossel, Steve Wynn, and many other experts, authors, professors, scientists, philosophers, all with breakout sessions, panels and debates. All the major think tanks and freedom organizations will be there as well.

The Jeffrey M. Verdon Law Group, LLP will be featured at Booth 320 in the Exhibit Hall. Jeffrey M. Verdon, Esq., will be speaking on the following topics:

General Session Keynote Speaker:
“What Every Investor Should Know about New Taxes and Estate Planning” 

This keynote presentation will review important tax and estate planning legislation that could impact investors and business owners, and what can be done to plan ahead of passage.

Workshop 1: “Upgrading Your Income Tax and Estate Planning from Coach to
First Class”
This workshop is for the successful investor with an estate in excess of $5M describing advanced planning techniques used by affluent families and successful business owners to reduce taxes and protect assets from lawsuits. We will cover many of the newer disruptive technologies designed to reduce taxes and protect assets from financially ruinous lawsuits.

Workshop 2: “How to Avoid the Tax Time Bombs the IRS has Waiting for You and Your Family”
This workshop includes a panel discussion with Dave Phillips on your IRA, a recent U.S. Supreme Court case that could expose the IRA you leave to your heirs to lawsuits, divorcing spouses of your heirs, bankruptcy, and IRS claims, along with other important planning strategies for IRA owners.

For those with estates in excess of $5M while at the conference, we will be offering a complimentary private estate planning consultation. Please contact us prior to the event so that we can reserve an appointment for you.

Click here for more information and registration: FreedomFest.

We look forward to seeing you there!

Heirs

Are Your Heirs Ready for Prime Time?

Transferring Maximum Wealth Does Not Guarantee Wealth or Family Harmony in the Next Generation

Dear Clients, Colleagues, and Friends,

According to the renowned Williams Group with over 50 years of coaching families in preparing heirs, their research studies have established that 70% of wealth transitions fail (defined as involuntary loss of control of assets). If this is to be believed, clearly important elements are missing from the current approach to estate planning, allowing this staggering failure rate to continue. According to Williams, the key missing element in wealth transfer planning is an awareness of how to proceed with the preparation of their “heirs”. The hand off of responsibilities for the family wealth could not be sidestepped, and heirs felt the weight of expectations without the security of preparation. The amount of wealth to be transferred over the next 50 years is estimated to be between $37 and $44 Trillion. Wealth, as defined by the Federal Reserve, consists of homes, personal property, business holdings, real property, stocks, bonds, cash on deposit, etc. Accompanying that wealth transfer is the unavoidable annual transfer of control for an estimated 270,000 estates of $1M or more. The “control” responsibility falls on the designated heirs, trustees, or professional managers — whether prepared or not, and whether they share the family’s values or not.

Those who make plans to transition wealth are ultimately concerned about its impact on the lives and well-being of the beneficiaries. If you are one of these 270,000 estates over $1M, are you asking yourself “what difference will the wealth make in the lives of our children and grandchildren?” “Will the family’s values underlying the accumulation of the wealth be reflected in how the wealth is used?” “How will the wealth impact the communities in which I live?” If not, perhaps you should be asking these questions.

Given the potential for wealth to be used for goodwill, or simply to be “wasted” with no detectable impact, the preparation of heirs to manage wealth becomes one of the major responsibilities parents of affluent families and successful business owners face. The question is: “How well prepared are those heirs and their families?” In the final analysis, the quality of preparation (for the heirs) shapes the outcome to the central concern that seems to occupy the mind of every parent or spouse: “Will the wealth help or harm the family?”

Where do you send your heirs to learn how to remain sensitive to (and apply) the family’s values within the framework of managing the family assets? Thus, the mission for the family’s wealth should be a broadly developed consensus mission. Attainment of this mission, accompanied by routine reporting on progress towards the family mission, will build trust and communication within the family and community. This shared family mission brings a sense of harmony to the family and shapes behaviors for younger heirs, providing them with a sense of family that extends to future generations. This subject matter is so important to the “successful transfer of wealth,” we will explore this area in greater detail and strive to provide some of the answers in future Client Alerts. So stay tuned…

Cash Flow Wealth Summit

Cash Flow Wealth Summit – A Huge Success!

Dear Clients, Colleagues, and Friends,

On May 15, 2015, our Client Alert announced “Jeffrey Verdon to Speak at Cash Flow Wealth Summit” in which the seminar producers used a remarkable new technology — a virtual online financial conference — where the attendee could attend the conference, visit the exhibit hall, and attend the presentations, all from the comfort and convenience of his or her home or office.

For over 25 years, I have been a speaker at land-based financial conferences around the country, such as the Money Show in Orlando, Las Vegas, and San Francisco; the FreedomFest in Las Vegas and Nassau, Bahamas; and the Oxford Club, held in cities all throughout the United States and abroad, all of which attract thousands of attendees, and to which the speakers and attendees traveled to attend the presentations. Continue reading

Cash Flow Wealth Summit

Jeffrey Verdon to Speak at Cash Flow Wealth Summit

Dear Clients, Colleagues, and Friends,

I’d like to personally invite you to attend the Cash Flow Wealth Summit, where I will be participating as a guest speaker in the category of comprehensive estate planning and asset protection strategies. The topic of my presentation is “Secrets of the Dirty Filthy Rich — Tax and Asset Protection Planning Techniques for the Affluent Family and Business Owner“.

This two-day virtual conference — presenting over 30+ thought leaders of wealth — is for Investors, Business Owners, Entrepreneurs, Mediapreneurs, and anyone seeking to build their overall wealth or gain new financial insights. Participation is free.

The Cash Flow Wealth Summit occurs online on May 20-21, 2015. My 60-minute presentation takes place on May 21, at 10 am Pacific.

As a valued member of the Jeffrey M. Verdon Law Group, LLP community, I’d like to give you a direct link to the Cash Flow Wealth Summit Registration. Please click here.

See you there!

gavel money

For Donald Sterling’s Mistress: More Than One Kind of “Protection” Was Necessary

Dear Clients, Colleagues, and Friends,

Last month, a Los Angeles judge ordered V. Stiviano, the former mistress of ex-Clippers owner Donald Sterling, to pay $2.6 million to Sterling’s wife Shelly for gifts that were part of the Sterling’s community property. These gifts included a $1.2M house, three luxury cars, extensive shopping trips and world travel.

No one would fault Shelly Sterling for wanting her day in court against her husband’s ex-mistress, but I can’t help put on my “asset protection lawyer hat” and wonder if Ms. Stiviano could have better protected her ass… Assets, that is. Continue reading

The Best Little Asset Protection Vehicle No One Has Ever Heard Of — Securing Retirement

Dear Clients, Colleagues, and Friends,

Life is full of little surprises.  Wondering if you have enough money for retirement should not be one of them.

Imagine this…

You’ve worked your entire life to build a successful business, investing every spare penny back into your company.  Your long-term plan?  To sell the company when you turn 60 so you can live a life of leisure on the proceeds.  Then, disaster strikes.  You and your company get sued, and after a devastating multi-million dollar judgment, there aren’t enough assets to pay off the debt.  Next step… bankruptcy.  It’s going to wipe you and your company out, and because you never saved for retirement, you don’t have enough protectable assets, such as a healthy IRA, with which to start over.   And that “sell the company” retirement plan you worked so hard for?  Gone without a net.

Luckily, there is something you can do to avoid this fate. Continue reading

Bitcoins

Jeffrey M. Verdon Law Group, LLP Now Accepts Bitcoin

Dear Clients, Colleagues, and Friends,

The Jeffrey M. Verdon Law Group, LLP is pleased to announce that effective May 1, 2015, it will add Bitcoin to options of payment methods for services rendered. This effort is in response to increasing requests for payment in Bitcoin, and we see this trend increasing as more and more people desire the use of virtual currency, i.e., electronic cash.

Bitcoin is an online payment system invented by Satoshi Nakamoto, who published his invention in 2008, and released it as open-source software in 2009. The system is peer-to-peer, i.e., users can transact directly without needing an intermediary such as a bank or credit card company. Continue reading

But I Thought My Assets and Legacy Were Protected

MEDIA MENTION: Jeffrey Verdon Published in Orange County Business Journal

Dear Clients, Colleagues, and Friends,

We are pleased to share with you that Jeffrey Verdon was recently published in The Orange County Business Journal (OCBJ). The OCBJ is a leading business journal which provides comprehensive, authoritative news and information for Orange County business owners seeking first class reporting on important business issues. Continue reading

You Can Have Your Castle and Protect It Too

Dear Clients, Colleagues, and Friends,

Mike’s lifelong dream of building his own house is about to come true.

After years of searching, Mike finally found the perfect tear-down on an amazing lot with views to die for. He worked for over two years with an architect to design a show-stopping, LEED-certified house that will boast everything from a wine cellar to a sauna in the master bath… and it even has the perfect reading spot for his favorite old hammock. Continue reading