Client Alerts

New Changes in Year-End Tax Legislation

Dear Friends, Colleagues, and Clients, Congress approved the debt ceiling bill and on August 2, 2011 President Obama signed the Budget Control Act of 2011 (Senate Bill 365, as amended). This calls for a new Joint Committee to weigh year-end tax legislation. Many of the widely used tax reduction tools and strategies will be under review by the Joint Committee. If you may benefit from entity discounts, GRATs, intra-family sale transactions, dynasty trusts or a host […]

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The Big Debate – Public Unions: Good or Bad for America?

Dear Friends, Colleagues, and Clients, If you had the good fortune of attending this year’s FreedomFest 2011 Conference at Bally’s Las Vegas July 14-16, you were treated to an excellent program, with many of today’s newsmakers, politicians, presidential candidates, and business leaders all making appearances and giving speeches. Personally, aside from delivering a Keynote Speech: “Taxation in an Obama Nation,” or speaking at my workshop: “Estate Planning for Women Only – No Men Allowed,” the highlight […]

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The HIRE Act and the Law of Unintended Consequences

Dear Friends, Colleagues, and Clients, You decide to purchase a second home outside the U.S., a place to bring your friends and family for special occasions and holidays. Many countries preclude foreigners from holding title to the real estate directly, so your local realtor advises you to take title in a trust. If this is, or could be, your situation, please read on. In March of 2010, Obama signed into law the Hiring […]

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Switzerland Takes Significant Step to Crack Down on Tax Evasion

Dear Friends, Colleagues, and Clients, Switzerland has never viewed tax evasion as an act that would breach its inviolate banking secrecy laws. Oh, have times changed. On Wednesday, July 6, 2011, the Swiss government officially adopted the Organization for Economic Cooperation and Development’s (“OECD”) standards regarding banking secrecy. Subject to certain conditions, Switzerland must now turn over information to foreign authorities investigating claims of tax evasion allegedly accomplished through the use of Swiss accounts. In the […]

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Nevada Law Amendment Enhances Creditor Protection for Nevada LLC’s, LP’s, and Corporations

Nevada has been known as one of the better states for asset protection planning, with its courts routinely refusing to allow creditors to reach assets held by Nevada situs LLCs, LPs, and Corporations. However, with the passage of legislative bill, SB405, Nevada will now provide even greater protection against frivolous lawsuits by creditors by further limiting the remedies available to judgment creditors. Asset Protection Alert: Effective October 1, 2011, the new statute expressly […]

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Have You Heard About Our HYCET Trust℠?

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 […]

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Advice from an Israeli Agent

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 […]

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The Use of Captive Property and Casualty Insurance Companies for Asset Protection

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 […]

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California Residents Beware: New Social Host Liability Law for Furnishing Alcohol to Minors

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 […]

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New Tax Law Creates Opportunity to Recover All of the Year 2008 and 2009 Real Estate Investment Losses

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 […]

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