$10M Gift Tax Exemption Rules

$10M Gift Tax Exemption Rules

Under a 2016 federal law, the per person gift and estate tax exemption amount was set at $11.58 million. As of 2021, a single person is now permitted to give gifts of up to $11.7 million during their lifetime without incurring any tax liability. Upon their death, the total amount of gifts they have made during their lifetime will be subtracted from $11.7 million to determine how much of their […]

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Estate Planning Before the 2024 Election

Estate Planning Before Elections

Every four years the lead-up to the presidential election ignites serious discussion about potential changes to estate planning laws. Presidential politics are generally quite different between the two major parties, and once in office, both are eager to implement laws that reflect the ideological differences between them. This is aptly demonstrated by the party’s approach to protecting and passing down wealth. Traditionally, Republican candidates advocate financial policies that favor issues […]

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How Personal Pension Plans Work

How Personal Pension Plans Work

The days of every company offering their employees a pension plan, thus taking the pressure off of retirement planning, are behind us. Only 15% of people currently working in the private sector have employer-managed pension programs. With proper discipline and planning, however, people can create a similar benefit with their own investments.  What is a pension plan? It’s a defined contribution made into a retirement account with every paycheck throughout […]

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Bucket List Trips for the Super Wealthy

Bucket List Trips for the Super Wealthy

One of the biggest perks of accumulating hard earned wealth is the ability to spend time away, traveling in comfort and style. No sparse hotel rooms, 4:00 a.m. flights or twelve hour delays, spent waiting at a departure gate. And you have the pleasure of visiting luxurious or exotic global destinations, many of which are only available to an exclusive group of people. If vacation is what you need, check […]

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Top Billionaire Hobbies

Top Billionaire Hobbies

When it comes to making money, it is clear that billionaires have what it takes to get it done. Hard work, a knack for smart investing, the ability to take risks, and a whole lot of dedication are all qualities that contribute to financial success, but does that mean there is no time left for simply having fun? While hobbies for billionaires differ greatly from average income earners, they are […]

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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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Let's talk asset protection strategies

Let’s Talk Asset Protection Strategies

Through hard work, smart budgeting, and savvy investing, you have been accumulating wealth with the goal of becoming financially independent. You can relax now, right? Actually, the next step is likely the most crucial one you will take, because the better off you become, the more devastating a lawsuit can be to your future. Protecting your wealth is as important as the steps you take to build it.  As your […]

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Why do some millionaires and billionaires drive cheap cars?

Why Do Some Millionaires and Billionaires Drive Inexpensive Cars?

Finish this sentence: “If I had a billion dollars, I’d drive a ______.” Did you say Lamborghini, Rolls Royce or Ferrari? Why not? With that kind of money, you could certainly afford to buy expensive, luxury vehicles. That said, it may surprise you to hear that some people who can afford any car they want are driving around in average, affordable vehicles.  A recent survey among the world’s millionaires and […]

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What an asset protection advisor can do for you

What an Asset Protection Advisor Can Do for You

Asset protection is an important aspect of wealth management as it protects your wealth from a legal claim or threat of a claim. This is not to say that legitimate lawsuits cannot be brought against you; asset protection protects you from those that are nefarious in nature or that would cause catastrophic loss. Lawsuit protection is a fact of life for anyone who may be targeted due to their “deep […]

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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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