Client Alerts

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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Client Alert

Two Ways To Minimize Estate Taxes In 2018

You have worked hard to build your fortune and minimizing the portion that will go to the IRS is possible during your lifetime with smart estate planning. While there are a number of tax-avoidance strategies in estate planning, here we will discuss two that may be able to save you and your heirs a large sum in the long run. Gift Assets Giving away assets to family members and charitable […]

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Orange County Business Journal

Philanthropy Brings Happiness

Generosity and philanthropy create happiness according to Harvard professor, Michael Norton. In his TedX Talk, “How to Buy Happiness”, Dr. Norton expands on the research which supports the notion that spending money on others makes people happier than spending it on themselves.  But there are a variety of best practices to do so in philanthropy. These days, a Donor Advised Fund (DAF) has become one of the simplest and most […]

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Client Alert

Hiring A Team Of Legal And Tax Professionals For Your Estate Plan

Employing a team of professionals to plan, review and administer an estate plan can be the key to preventing unexpected setbacks in the future. One of the main ways you can avoid experiencing setbacks is by hiring professionals who can assist you with taxes. This is particularly true if you own a business, considerable insurance policies or significant assets. Here are the top three professionals you may want to consider […]

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Client Alert

Preventing family fallouts over inheritance

Even the most amicable sibling relationships can quickly turn sour when parents pass away. This is especially the case when it comes to sizeable estates and family businesses. What are the common reasons for inheritance disputes? How can parents prevent them from tearing their kids apart? Behind the scenes of inheritance drama According to Ameriprise Financial, feuds between adult children regarding their parents’ estates occur for a variety of reasons. Here […]

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Client Alert

Bourdain’s daughter to wait before receiving million-dollar estate

After the beloved and multi-talented celebrity chef and television sensation, Anthony Bourdain passed away, it didn’t take long before questions regarding his financial legacy arose. Unlike more than half of Americans and other well-known celebrities we’ve lost, Bourdain left behind a will. Now, his estate plan is at center stage and has left some wondering if it will create more problems than it is intended to solve. Bourdain’s daughter will […]

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Client Alert

Important conversations for personal representatives

How the probate process goes for a complex estate is impacted by many things. This includes the actions of the personal representative selected for the estate. This person serves many important roles during the probate process. This includes the management of the estate and its distribution. There are many conversations that can be very important for such individuals to have during the probate process. For one, good communication between the personal […]

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