If you attended the 2011 World MoneyShow in Las Vegas, Nevada recently, you would know about our new HYCET Trust℠. At this event, I had the wonderful opportunity to be interviewed by MoneyShow.com to share this exciting news with anyone interested in learning how to use our HYCET Trust℠ to supercharge their estate planning and to take advantage of the biggest tax breaks in our nation’s history! Watch the interview: If you were […]

Dear Friends, Colleagues, and Clients, Each year, we receive hundreds of cautionary emails from various sources. The message I have included in this Client Alert seemed particularly pertinent given all of the turmoil going on in the world today. This message was sent to me by a very close friend, colleague and a prominent lawyer in the community. I urge you to take the time to read it and forward the message to […]

Ever since the 1930’s large companies in the United States have been forming their own property and casualty insurance companies in order to reduce the premium costs charged by commercial companies and insure risks otherwise not covered by commercial companies. During the past 20 years, the costs of establishing one’s own property and casualty insurance company have come down so that middle market companies have been able to afford to use captive insurance companies […]

Previously, Section 1714(c) of the California Civil Code specified that social hosts who provide alcohol may not be held civilly liable for any damage, injury, or death resulting from that alcohol consumption. However, beginning in 2011, Section 1714 is amended to now impose civil liability against a parent, guardian, or other adult who knowingly furnishes alcoholic beverages at his or her residence to a person under 21 years of age, where the furnishing […]

In our previous Client Alert, we described the vehicle by which you can create an Estate Freeze utilizing your $5M gift tax exemption ($10M for married couples) in conjunction with a special asset protection trust, and retain a “beneficial interest” in the $5M of cash or property given to the trust. Very few people were immune from the losses to their real estate and securities portfolios in 2008 and 2009. Investors have […]

This is our 3rd installment of the planning opportunities available under the new estate and gift tax laws created under the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the Act).” This edition of Client Alert will focus on an effective estate planning technique which literally may make paying estate taxes voluntary and “bullet proof” your assets from a financially ruinous lawsuit. The Act increased the amount that one can […]

Dear Client, Friend, and Colleague: The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, P.L. 111-312 (“2010 Tax Act”) has been signed into law. There are a host of significant changes that will affect everyone’s estate plan. The following are urgent points that may affect your planning for the 2010 year, and may require immediate action: 1. 2010 Gift Exclusion: a. The gift exclusion remains at only $1 million […]

Our beloved Congress and President has finally passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This Client Alert is to alert you to an incredible planning opportunity, albeit, a very short time frame. A GST Tax Rate of 0%: Any generation skipping transfer (GST) (a transfer to a grandchild or more remote descendant or another skip person [i.e., an unrelated individual more than 37 1⁄2 years younger than […]

Many U.S. taxpayers have established offshore trusts for asset and lifestyle protection reasons. Generally, offshore asset protection trusts (APTs) are set up to be “tax neutral,” such that the settlor pays a fixed amount of income tax on the income earned inside the APT. Often, these trusts contain assets such as boats, planes, and other luxury items, including substantial cash and securities. The trustee of an APT can make the APT assets available […]

Until December 31, 2010, taxpayers with an IRA or 401(k) plan have the option to convert to a Roth IRA, report the income tax over 2010 and 2011, and avoid the income taxation upon subsequent withdrawal. (The taxpayer may elect to recognize all of the income in 2010). The recent enactment of The Small Business Jobs and Credit Act of 2010 (the “Act”) will now allow the conversion of Employee Retirement Income Security […]