Client Alerts

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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Client Alert

Continuing Care for Your Pet After You Pass Away

When determining your estate plan, it is important to remember all members of your family. While you might have already set up distribution methods for your beneficiaries, it is important to leave a portion of your assets aside for the continuing care of an important family member: your pet. Pets have been considered in high-asset estate plans for many years. Billionaire and hotel heiress, Leona Helmsley, made pet trusts famous […]

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Client Alert

Deciding How and When Inheritance Will be Distributed to Beneficiaries

In many estate plans, the total amount of inheritance will be collected by beneficiaries upon the trustor’s death. In high-asset estate plans, however, this is not always wise. Here are three types of alternatives to consider regarding distribution methods for your estate plan. Age This is one of the most common types of alternate distribution methods used in estate planning. Instead of a beneficiary inheriting assets all at once, inheritance […]

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