Category Archives: Trust Administration
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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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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Whitney Houston Update; IRS Publishes “Fresh Start” for Struggling Taxpayers; California Residency
We are in the heart of tax season, so naturally we have recently been addressing many related issues. We wish we had time to discuss them all on our weekly radio and web broadcast on KDOW 1220 AM, and then … Continue reading
Posted in Asset Protection, California Trust Law, Estate Planning, Estate Tax, Family Law, Filing Your Tax Return, Income Tax, Probate, Radio Show: Wealth Preservation and You, Tax Law, Trust Administration, Trusts & Estates
Tagged Bay area, California Franchise Tax Board, California resident, California state income tax, Connie Yi, Estate Planning, estate planning attorney, estate taxes, executor, Facebook IPO, family law, federal law, Fresh Start, Income Tax, inter vivos trust, Internal Revenue Service, IRS initiative, IRS.gov, KDOW, legal residency, Living Trust, LLC, MP3, Nevada, Pleasanton, podcast, Probate, probate court, probated will, professional tax adviser, San Francisco, San Jose, San Mateo, settlor, Silicon Valley, social networking, struggling taxpayers, tax season, telecommuter, testamentary trust, W-2, What Ifs, Whitney Houston, will trust
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Celebrity and High Net Worth Estates; Complex Family Structures; the Competency Issue
The recent passing of Whitney Houston and Davey Jones has put the topic of celebrity estates in the news. Frequently, celebrities quickly obtain considerable wealth as a result of their achievements and the adulation bestowed on them. Sometimes, a beneficiary … Continue reading
Estate Planning for Special Assets: Family Business, Out of State Assets, Companion Animals, Trustee Duties
When we have previously discussed estate planning, we’ve primarily focused on situations that involve the basics of how to handle real estate or liquid assets like stocks and bonds, so your beneficiaries receive as much as possible of your estate … Continue reading
Posted in Asset Protection, Business Law, Estate Planning, Estate Tax, Partnerships, Radio Show: Wealth Preservation and You, Succession Planning, Trust Administration, Trusts & Estates
Tagged asset protection trust, attorney, back taxes, Bay area, business structures, companion animal, Companion Animal Trust, Companion Animals, Connie Yi, dental broker, dental care, dental practice, dentist, Estate Planning, estate planning attorney, Family Business, family dynamics, Family Limited Partnership, family limited partnership flp, Family Partnerships, farmer, FLP, food and beverage, Husband and Wife Business, inheritance tax, IRS, KDOW, legal practice, Limited Liability Corporation, liquid assets, LLC, Offshore Assets, offshore bank, Out of State Assets, overseas bank accounts, Pleasanton, real estate, real estate development, San Francisco, San Jose, San Mateo, Small Business Administration, Special Assets, stocks and bonds, succession planning, tax return, Treasury Department, vineyard, Wealth Management and You
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Set Up a Trust as Part of Your Estate Plan for Smooth Transfer of Property When the Inevitable Occurs
As a follow-up to our previous discussion about how to transfer the title of real estate that is community property when the owner of the property dies, we were recently asked a question similar to this: Why should my spouse … Continue reading
Posted in California Trust Law, Estate Planning, Probate, Trust Administration, Trusts & Estates
Tagged 401(k), Bay area, beneficiaries of the estate, brokerage firm, California Trust Attorney, Certificate of Ownership Report, Community Property, conflict of interest, Connie Yi, Duty of Loyalty, employment benefits, estate plan, estate planning package, Estate Tax, fatal accidents, inheritance tax, IRA, IRS, Joint Tenancy, KDOW, Living Trust, open enrollment period, Pleasanton, pre-paid legal services, Probate, Recorder’s office, retirement account, Revocation of Trust, right of survivorship, San Francisco, San Jose, San Mateo, successor trustee, Transfer of Property, transfer the title, Wealtlh Management and You
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Timely Tax-Filing Topics: Divorce, 1099 Forms, Brokerage Accounts, Living Trusts, Elder Abuse
As we head into the heart of the tax-filing season, we have received many questions about a wide variety of related topics. Because we are so focused on taking care of clients during the work-week, we usually try to answer … Continue reading
Posted in Estate Planning, Filing Your Tax Return, Income Tax, Offshore Bank Account, Radio Show: Wealth Preservation and You, Tax Law, Tax Return Preparation, Trust Administration
Tagged Estate Planning, IRS, KDOW, foreign bank account, tax filing, self dealing, Wealth Preservation and You, living trusts, Divorce, 1099 Forms, Brokerage Accounts, Elder Abuse, Form 1099, cost basis, CP-2000, capital gains, financial planner, trust mill, $399, trust package, medical qualification program, home improvement program, non-licensed contractors, home equity line of credit, estate plan trustee, multiple beneficiaries, fiduciary responsibility
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Living Trust And Estate Tax Laws May Change. Will Your Estate Plan Still Be Appropriate?
We have recently written about living trusts, and their impact on estate taxes, but we feel the need to address this topic again, because of the uncertainly concerning the current federal estate tax laws, which expire at the end of … Continue reading
Posted in Estate Planning, Estate Tax, Radio Show: Wealth Preservation and You, Tax Law, Trust Administration, Trusts & Estates
Tagged $1-million, $5-million, abandoning property, divide an estate, estate plan, Estate Tax Laws, estate tax-rate, estate taxes, KDOW, life trust, Living Trust, living trusts, no contest clause, non-traditional families, power of termination, tax liability, transfer trust, trust fund, trust fund beneficiaries, trustee powers, trustee protector
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Special Needs Trusts for Children and Elderly Require Careful Estate Planning and Long-Term Financial Considerations
As a part of our recent focus on trusts and estates, the topic of our most recent radio program on Saturday afternoon was Special Needs Trusts, which are becoming a much more frequent part of family estate plans. We covered … Continue reading
Posted in Estate Planning, Estate Tax, Family Law, Tax Law, Trust Administration, Trusts & Estates, Uncategorized
Tagged 4th-quarter taxes, About.com, alcohol dependency, autism, Autism Speaks, California, certified public accountant, court-order special needs trust, Downs Syndrome, drug dependency, estate plan, Estate Planning, estate planning attorney, family-type special needs trust, FindLaw.com, first-party special needs trust, government benefits, hereditary diseases, inter vivos special needs trust, January 15th, KDOW, living special needs trust, Living Trust, mental disabilities, NAMI, National Alliance on Mental Illness, physical disabilities, Planned Lifetime Assistance Network of California, Pleasanton, pooled special needs trust, Proxy Parent Foundation, San Francisco, San Francisco Bay Area, San Jose, San Mateo, self-settled special needs trust, SNA, sole-benefit special needs trust, Special Needs Alliance, Special Needs Trustee, Special Needs Trusts, Tax Audit, tax codes, tax law attorney, temporary incapacitation, third-party special needs trust, trust fund, Trust protector, type A special needs trust, WID, World Institute on Disability
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Forensic Accountant Can Help If You Suspect Financial Or Investment Fraud
What do Nicholas Cosmo in New York, Richard Trabulsy in Michigan, Frederick H.K. Baker in Utah, Mark Alan Helsing in California, and Kapua Keolanui in Hawaii all have in common? Here is a hint: Bernie Madoff in jail. That’s right, … Continue reading
Posted in Accounting Services, Business Law, Divorce Lawyer, Family Law, Forensic Accounting, Partnerships, Personal Attorney, Trust Administration
Tagged 401(k) account, Bernie Madoff, brokerage statement, business partnership, Certified Public Accountant legal strategy, Charles Ponzi, contested divorce, family law attorney, Financial Fraud, financial research, financial statements, Forensic Accountant, Forensic Accounting, hidden assets, Investment Fraud Accounting Fraud, Litigation Support, misappropriated funds, mismanaged trust fund, payroll records, Ponzi scheme, tax law attorney
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