Client Alerts

Orange County Business Journal

The Dunning Kruger Effect: You Don’t Know What You Don’t Know

(And once you realize what you didn’t know, well, it may be too late.) Sara and Jonah Williams worked for over 30 years to build their fledgling business into a thriving franchise with stores throughout the nation. They thought they were protected by their thorough estate planning until the unthinkable happened. They were sued by a plaintiff seeking to recover millions of dollars in an unforeseen lawsuit. The Williams contacted […]

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Orange County Business Journal

Protect Your Company’s Assets

Asset protection planning for affluent individuals has been around since the mid-1980s. But businesses get sued, too. Yet, when you ask C suite executives what they’re doing to protect their company’s assets from lawsuits, you mostly get a blank stare and the common response of “nothing.” Businesses are continuously plagued by class action lawsuits in which plaintiff’s lawyers look to pile on a community of individual plaintiffs to scare the […]

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Client Alert

5 Ways You Can Gift Assets To Charity

Charitable giving can leave a legacy of generosity for years and even decades after you have passed away. Not only does charitable giving have a philanthropic appeal, but it provides enormous income, state, capital gains, and gift tax deduction benefits. While some donors gift money during their lifetime, others bequeath assets to charity through wills and trusts that go into effect upon their deaths. Depending on the type of charity […]

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Client Alert

How Are Collectibles Appraised In Probate?

You are sorting through your deceased parent’s assets when you stumble upon their beloved stamp collection. You research the stamps and discover that they could be worth a substantial amount of money. In probate, it is critical to have collectibles appraised when compiling an inventory of the estate’s assets. As a personal representative, it can be a good idea to understand the basics of appraisals during probate and what you […]

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Client Alert

Strategic Planning Can Prevent Inheritance Theft

Inheritance theft can occur right under family members’ noses and, sometimes, the thieves will even get away with it. Fortunately, there are things you can do to protect your unsuspecting heirs and prevent a person with ill intentions from succeeding in their thievery. First, you must know what inheritance theft looks to prevent it from happening to your own estate. Types Of Inheritance Theft The larger one’s estate is, the […]

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Client Alert

Ask Yourself These Questions Before Assuming The Role Of Executor

Just because you have been named the executor of an estate does not mean that you must accept the position. In fact, before you do, you should decide if you are best-suited to assume the role. Being the executor of a high-asset estate comes with far greater challenges than many executors of small estates will face. With so much on the line, it is critical to take a step back […]

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Client Alert

New tax law lowers required taxes on generation-skipping trusts

Effective January 1, 2018, new tax laws lowered the requirement to pay taxes on certain inheritance trusts in California. For those hoping to pass down significant inheritance, your beneficiaries now may avoid paying taxes on your generous gift because of an increased threshold. Generation-skipping trusts are included in the tax exemption change. In 2010, generation-skipping trusts exceeding $5 million were subject to extreme taxes. The government could tax your gift up to […]

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Client Alert

Be Selective When Appointing A Fiduciary Of Your High-Asset Estate

Even in the early stages of the estate planning process, many of our clients already have a fiduciary or fiduciaries in mind they want to name in their plan. A fiduciary or fiduciaries are trustees who are named in a trust or executors who are appointed in a will. However, deciding on a fiduciary is not a decision that should be made on a whim. There are some critical aspects […]

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Disinheriting Heirs And Reducing Beneficiaries’ Shares

Many clients come to our office with uncertainties when it comes to final distributions. One of those uncertainties surrounds the concept of unequal shares and exclusions. Under what circumstances can beneficiaries be excluded? Can beneficiaries challenge your plan? Reasons For Unequal Shares And Exclusions Not all people disinherit beneficiaries or reduce shares as a form of punishment. In fact, there are often valid reasons some do so, including: Special needs […]

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Client Alert

Save Money And Reduce Taxes With A Charitable Remainder Trust

Whether you want to donate money as a budding philanthropist, avoid taxes or diversify your investment portfolio, Charitable Remainder Trusts (CRTs) can be a good way to accomplish all three goals at once. Before creating a CRT, it can be helpful to have a basic understanding of how they work and the terms. An Overview Of Charitable Remainder Trusts When you create a CRT, you will first choose the trust’s […]

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