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 […]
Continue readingAre Irrevocable Trusts Effective For Asset Protection?
Possessing significant assets often means thinking out of the box when it comes to protecting them. Like some, you may have considered executing an irrevocable living trust as a means of asset protection. However, irrevocable trusts do not make sense for everyone. Estate planning is unique for every individual and knowing your options for asset protection prior to moving forward is key. The Benefits Of Irrevocable Trusts Arguably the number […]
Continue readingAre The Trustee’s Fees Reasonable? Here Is How To Tell
If you currently serve as a trustee, you know how time-consuming the administration process can be. You must maintain strict documentation regarding trust transactions and, in some cases, appear as the estate’s representative in court. However, if you are the beneficiary of an estate, you may be questioning your own trustee’s fees. After all, we have often heard of cases where trustees charge exorbitant fees and abuse their power. By […]
Continue readingProtect Your Business and Prepare a Digital Assets Plan
Every business relies on digital accounts in daily operations in one way or another. As the owner of a company, you depend on a bank, bill payment, and other online financial accounts. But what happens if you become incapacitated or pass away? Suddenly, the business that you have worked to build over the years is thrown into a place of limbo in your absence. Your company ceases operations as they […]
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Right Time, Right Information: When Should Parents Talk to their Children about Family Wealth?
Dear Friends, Colleagues, and Clients: Have you wondered when you should discuss your family wealth with your children? Does the idea of such a discussion feel like a dark cloud hanging over you? Luckily enough, it doesn’t have to! Take a look at our brochure and find out when breaking down the details will be most effective: Beneficiary Brochure
Continue readingPreparing For An Initial Consultation
Our firm is unique in the services we offer. We often deal with a substantial amount of assets and every individual and family has different estate planning and asset protection goals. If you anticipate attending a consultation with any attorney and you have significant assets, you may need to prepare for an initial consultation a little differently than other clients. Here are some tips to stay proactive from the onset. […]
Continue readingPrimary Residence Can Be Transferred Between Generations
In California, real property is reassessed at market value if it is sold or transferred. If the property has been in the family for a long time, the resulting tax hike can be dramatic. Thanks to two voter-approved constitutional amendments, property transferred between parents and children, or grandparents and grandchildren if both parents are dead, do not have to be reassessed and the property tax increase will be minimal – […]
Continue readingIs It Worth It To Create A Family Limited Partnership?
Trusts are valuable tools to protect your estate. However, trusts do not allow you to protect your assets while you are still alive. In order to secure what is rightfully yours and protect your assets, you will need to begin thinking outside of the box. Many individuals and couples turn to Family Limited Partnerships (FLPs) as an advanced asset protection measure to do so. Here is a brief overview of […]
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Don’t Let Your Past Haunt You*
Dear Friends, Colleagues, and Clients: Meet Dennis. In high school, his senior class voted him “most likely to throw an epic party,” and he took that mantle to college, dropping out after only three semesters due to partying too hard and studying too little. Unmoored and unhappy, Dennis took a low-level job as a video game programmer, learned coding, and found his ultimate calling in life. Just ten years later, […]
Continue readingProtect Your Assets With A Private Retirement Trust (PRT)
You have spent your entire adult life contributing to your employer-sponsored retirement account and it has ballooned quite significantly over the years. With retirement on the horizon, you and your partner begin planning for the next chapter in your lives. What could go wrong? Tragically, you are involved in a horrific car crash and must undergo countless physical therapy sessions and doctors’ appointments to recover. After several months in recovery, […]
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