Author Archives: Staff
California Property of Deceased Overseas Owner Affected by Probate Code of Foreign Country
As a melting-pot state with many ties to Asia and Latin America, it is a fairly common for property in California to be owned by a foreign company or individual. If a deceased citizen of another country owned property in … Continue reading
Posted in Estate Planning, Overseas Assets, Probate, Trusts & Estates
Tagged avoiding probate, California Probate Code, Community Property, declaration of death, Estate Planning, intestate estate, Intestate Succession Act, Living Trust, Probate Code, Probate Code France, Probate Code India, Probate Code Indiana, Probate Code Italy, Probate Code Singapore, Probate Code Taiwan, probate laws, spousal petition, surviving spouse, time of death
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Should a CPA be an Estate Trustee for a Client?
We recently encountered a situation in which a successful businessman, who had accumulated significant wealth during his career, felt he was a danger to himself, because he was an alcoholic and he had a couple of car crashes while driving … Continue reading
Posted in Asset Protection, California Trust Law, Estate Planning, Trust Administration, Trusts & Estates
Tagged asset management, beneficiary, certified public accountant, conflict of interest, CPA, estate trustee, fiduciary, irrevocable trust, lose wealth, power of attorney, protect estate, prudent investor, wealth management
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Real Estate Property Transfers In California: Reasons, Methods and Issues
Even though the number of home sales has diminished in recent years, many people are still transferring real estate property for a variety of reasons. The most common type of property transfer is for a parent who transfers the title … Continue reading
Posted in California Real Estate Law, Estate Tax, Gift Tax, Residential Real Estate, Tax Law, Uncategorized
Tagged Asset Protection, community property state, fair market value, Fannie Mae, Joint Tenancy, Living Trust, medical benefits, Probate, probate court, property agreement, property tax assessment, property title, Property Transfer, reduce taxes, refinancing a home, right of survivorship, Spousal petitions, Tenancy in Common, underwater property, unmarried couples, verbal agreement
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Trust Administration: Gifts and Personal Possessions, Internal Family Litigation, Elder Abuse
Family dynamics can be difficult to manage in the best of times. When the assets of an inherited estate are at stake, they can be even more problematic, especially when a complex family structure that includes children from multiple marriages … Continue reading
Posted in Estate Planning, Family Law, Trust Administration, Trusts & Estates
Tagged addendum to estate plan, blended family, camera, cash gifts, conservator, Elder Abuse, estate plan, family litigation, fiduciary responsibilities, gift lender letter, inheritance, insurance claim, lifetime gift, reasonable compensation, special needs, tax organizer, Trust Administration, trustees duty, video camera
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Tax Planning for Next Year; Digital Assets; Loan Modification & Deed-in-Lieu Programs; Trusts & Trustees
As the dust of this year’s tax season settles, our thoughts have already started to drift toward preparing next year’s returns. It is never too early to consider how to pay less taxes (or to be better prepared for next … Continue reading
Posted in Asset Protection, Filing Your Tax Return, Loan Modification, Tax Return Preparation
Tagged Android, Apple, back taxes, back-up system, beneficiaries, benefit deductions, borrower, call-in show, Deed-in-Lieu, digital files, distressed properties, estate plan, file tax returns electronically, fireproof container, foreclosure, HAFA, Home Affordable Foreclosure Alternatives, IRS audit, IRS2Go, lender, liens, Living Trust, loan modifications, maximize deductions, minimize taxes, mobile device, paper receipts, pay less taxes, paycheck stubs, payroll deductions, podcast, probate minimum, professional relationship, receipts, record-keeping, Scan, short sale, social site account, status of your refund, tax deductions, Tax Preparer, tax professional, tax refund, transfer real estate, Trustees, underwater real estate
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Do You Need a Tax Attorney When You are Audited by IRS or When You Start a New Business?
Now that the season to file tax returns has ended, many people may become concerned about whether some aspect of their return might draw the attention of the Internal Revenue Service (IRS) and lead to an audit. This leads to … Continue reading
Posted in Business Law, Corporate Taxes, Family Law, Filing Your Tax Return, Partnerships, Personal Attorney, Radio Show: Wealth Preservation and You, Starting a New Business, Tax Law
Tagged accountant, allowable deductions, audit, Audited, audited by the IRS, back taxes, business, business revenue, corporate structure, cost/benefit analysis, dissolution, economy, examination letter, Family Business, family dynamics, Field Audit, government, health care professional, Internal Revenue Service, IRS, irs agent, irs audits, licensed professionals, Medical professional, Office Audit, partnership, politics, risks and liabilities, Schedule C, software program, Start New Business, tax attorney, tax return, Turbo Tax
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Digital Assets in Estate Planning; Mortgage Crisis Scams; Loan Modification and Other Mortgage Workouts
One of the more-frequent situations that estate planners have to deal with, along with executors to wills, is the existence and growing popularity of digital accounts and other online assets, such as email, social networking sites like Facebook and its … Continue reading
Posted in Asset Protection, Distressed Property, Estate Planning, Loan Modification, Residential Real Estate, Short Sale, Strategic Foreclosure
Tagged account usernames, advertising, database, digital assets, executor of an estate, Facebook, iCloud, Instagram, real estate, scam, social networking sites
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