Client Alert

How Will the Recent Tax Changes Affect Your Estate Plan?

There have been a number of recent changes in tax reform that you will want to take into consideration this year. As part of the “Tax Cuts and Jobs Act” signed by the Trump Administration in 2017, there will be new requirements for estate plans starting in 2019. However, for many high-income earners, these changes will likely be given a warm welcome. One of the biggest changes is the exemption […]

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Client Alert

Do You Need a Will if You Do Not Have Children?

While wills tend to be more natural for couples with children, in order to ensure their children will be taken care of when they die, they can be more important for childless individuals. Wills can help determine who your assets will go to when you pass away, and sometimes, more importantly, who they will not pass to. According to U.S. News & World Report, over 55 percent of people do […]

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Client Alert

What are the Fiduciary Duties of a Trustee?

You often hear the phrase, “fiduciary duty,” but what does that mean when it comes to managing a trust? First and foremost, trustees, are bound by a fiduciary duty to the beneficiaries of a trust. Under the law, there are three elements of fiduciary duties involving a trust: a duty of loyalty, a duty of care and the duty of full disclosure. The duty of loyalty refers to the trustee’s […]

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Client Alert

Do You Need an Asset Protection Plan if You Have Insurance?

While business insurance is important, it cannot protect you from all the risks associated with running a business. A business asset protection plan can help protect creditors from seizing your business and personal assets. Generally, insurance does not provide enough coverage for all business-related situations. It is important to determine what kind of legal structure you plan to use and what kind of assets you wish to protect in order […]

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Client Alert

Tips for Saving Money in 2019

Saving money can be a lot harder than it seems. However, the beginning of the year is a great time to start changing your spending habits and begin saving more money for the future. According to CNBC, 20 percent of Americans have not saved any money for retirement. While more than 25 percent of people have saved at least $200 thousand, more than 75 percent of Americans stated they are […]

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Orange County Business Journal

Protecting Your Children from Themselves

1998 You accumulated sizable estate assets and your lawyer created an irrevocable dynasty trust for your infant son to protect his legacy and provide him a long-term financial safety net. You were a thoughtful and loving parent. 2018 A lot has happened over the past 20 years. The business world has changed and the path to independent adulthood lies obscured in your son’s generation’s new definition of success: do what […]

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Client Alert

New Year’s Resolution: Set Up Your Estate Plan in 2019

The New Year is finally here. January is a time to begin what you might have been putting off the year before. As you begin to embark on your New Year’s resolutions, consider adding another resolution to your list: creating an estate plan. According to Forbes, an estate plan is the best gift you can give yourself this year. Consider the five following reasons you should create an estate plan […]

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Client Alert

How to Pick the Right Executor or Trustee

Choosing an executor and trustee can be a difficult decision to make. According to some financial planners, “Your estate plan is only as good as your executor or trustee.” The person you select will be responsible for managing the trust for your beneficiaries and ensuring that your wishes are executed. To avoid mismanagement of your estate plan, consider these five qualities when choosing an executor or trustee: 1. Business or […]

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IRS Form 1099

The California Independent Contractor May Have Just Gone the Way of the Dinosaur

Dear Friends, Colleagues, and Clients, No good deed goes unpunished! Unemployment is at the lowest rate in decades. Many Californians work from home or have part time assignments where they are hired by businesses to work on a project by project basis as an outside contractor. Service businesses, such as the legal and accounting industries have especially embraced this new work medium in a significant way along with high tech […]

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Client Alert

APG: Cook Islands Anti-laundering Program is Among the Best

As you plan for the highest degree of asset protection, you may be considering working with a range of international financial service providers. However, there may be many risks as some countries are targeted as tax havens or centers of money laundering. One area that is emerging in the forefront of financial security in this era: the Cook Islands. A report from the Asia Pacific Group on Money Laundering (the […]

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