Are you too young to have an estate plan?

Are you too young to have an estate plan?

You are young and healthy, which means you are too young to have an estate plan, right? Why think about what happens to your assets after you have gotten to this stage of life? While this is a common perception, it couldn’t be further from the truth. There are a number of compelling reasons why it’s important to address estate planning, regardless of how old the individual is or the […]

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Protect Crypto Investment With Estate Planning

Protect Crypto Investment With Estate Planning

Nowadays, an increasing number of individuals are investing in Bitcoin, NFTs (non-fungible tokens), and blockchain tokens. Many have profited substantially from their crypto investments. Yet while crypto-assets may hold enormous family wealth, they also pose complex issues in terms of safeguarding, transferring, preserving, and distributing that wealth. The advantages of protecting assets with estate planning are well known, and cryptocurrency is a valuable asset. As with any other asset, it […]

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How to include valuable art in your estate plan

How to Include Valuable Art in Your Estate Plan

Angelina Jolie is a collector of antique knives. Johnny Depp owns dozens of limited-edition Barbies, and Tom Hanks has a collection of vintage typewriters. You may collect more common items, but regardless of specifics, valuable collections are considered part of your net worth, and should be addressed during legacy planning. Under Federal tax law, IRC Section 408(m), the IRS defines collectibles as works of art, valuable alcoholic beverages, antiques, metals, […]

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Build your estate planning dream team

Build Your Estate Planning Dream Team

As a high net worth individual, creating an estate plan is a complex and individualized process that takes both financial and personal goals into consideration. In addition to naming beneficiaries and putting protections in place to reduce estate taxes, your estate plan is also an opportunity to build a more personal legacy for your children and grandchildren. A thoughtfully curated estate plan can transfer more than inherited wealth to future […]

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Estate Planning Benchmarks by Age

Estate Planning Benchmarks By Age

People often make the mistake of thinking they do not need an estate plan until they have reached a certain age or have a certain amount of money in the bank. This simply is not the case as there are documents which you are well-advised to have in place as early as when you gain independence from your parents in your 20s. The complexity of estate planning varies by age […]

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Updating your Estate Planning after divorce

Updating Your Estate Planning after Divorce

DON’T BE LIKE BOB Dear Clients, Colleagues, and Friends, Bob and Mary got married in 1993. Mary had one daughter, Jane, from a prior marriage. Even though Bob never officially adopted Jane, he treated Jane as if she were his daughter throughout the entire marriage. However, in Bob’s joint trust with Mary, she was referred to as “Bob’s wife.” Moreover, Bob’s Will referred to Jane as his “step-child”. The joint […]

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Make your wealth last more than 3 generations

Make Your Wealth Last More than 3 Generations

Have you heard the stats regarding passing down wealth? The data is actually quite concerning, particularly for affluent investors. By most accounts, wealth barely lasts for up to 3 generations for most HNWI. The latest research indicates that in too many instances 70% of wealth is lost when it’s transferred from the wealth-generating generation to the next. From there, an estimated 90% is lost after that. Why does this happen? […]

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The Penalty for Stealing from an Estate

What is the Penalty for Stealing from an Estate?

Discovering that an individual has been stealing from an estate is a common problem, particularly for people who have substantial assets. Those living in the state of California, are covered by the California Probate Code, which provides statutory bases for pursuing the wrongdoer. Depending on the circumstances, the penalty can range from requiring the abuser to return the stolen money or assets to more severe punishments, such as double damages, […]

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Southern California's Top 5 Wealthiest Neighborhoods

Looking for Your Next Property? Here are Southern California’s Top 5 Wealthiest Neighborhoods

Using census data from the period of 2006-2010, a study revealed the richest neighborhoods in the United States. Comparing metrics such as average household income and property values, it should be no surprise that many of them are located in California. Coming in high on the list were coastal communities located in the Los Angeles and San Diego areas. The entertainment industry, balmy weather, white sandy beaches, and palm trees […]

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The Sanders 99.5% Act's Estate Tax Proposal

The Sanders 99.5% Act’s Estate Tax Proposal

Use it or Lose it: The Sanders 99.5% Act’s Estate Tax Proposal On March 25, 2021, Senator Sanders and the Whitehouse formally proposed a bill which would make changes to the current estate and gift tax system. This bill apparently has some support among Democratic Senators and Congressmen. While it is the hope of many that this proposed law will not be enacted, it seems best to “plan for the […]

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