Category Archives: Radio Show: Wealth Preservation and You
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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Gifts For Your Children: Selling or Transferring Property To Your Kids (Plus a Few Tax-Time Tips)
At this time of the year, we feel compelled to remind our followers of a couple of tax-time tips, all of which we have discussed several times in recent months: Recent changes to the law have forced financial institutions that … Continue reading
Posted in Estate Planning, Estate Tax, Gift Tax, Radio Show: Wealth Preservation and You, Residential Real Estate, Tax Law, Trusts & Estates
Tagged Brokerage Accounts, estate plan, Estate Tax, fair market value, inheritance, inheritance tax, irs office, licensed real estate broker, Offshore Assets, real estate, tax time tips
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Trust Provisions: A-B Trust vs. A Trust; College Planning: How to Fund Higher Education
We frequently mention that trusts are a good way to avoid the probate process, which takes time, costs money, and has an unknown outcome. The A Trust and the A-B Trust are two popular types of trusts to help married … Continue reading
Posted in College / Higher Education, Estate Planning, Family Law, Radio Show: Wealth Preservation and You, Trusts & Estates
Tagged 529 college savings plan, A-B Trust, Campus Pathway, charitable organization, College Planning, death tax legislation, estate plan, estate tax exemption, generation-skipping, home equity line of credit, inheritance tax, irrevocable trust, Jeffrey Morrison, life insurance policy, marital deduction, married couple, Probate, registered financial adviser, student loan, Trust Provisions, UCLA, USC
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The Probate Court Process; What Constitutes a Proper Will; Contested Wills
The most important message we like to communicate about probate court is that it should be avoided at all costs – under most circumstances. We recently discussed this issue on our weekly radio and web broadcast on KDOW 1220 AM, … Continue reading
Posted in California Trust Law, Estate Planning, Probate, Radio Show: Wealth Preservation and You, Trusts & Estates
Tagged Bay area, beneficiaries, California Estate Planning Attorney, California Probate Code, complex family structure, conflict of interest, Connie Yi, Contested Will, designated beneficiaries, disinterested parties, estate planner, executor of the estate, Financial accounts, fireproof lockbox, IRA, jurisdiction, KDOW, liquid assets, Mark Morris, no contest clause, own handwriting, Pleasanton, Probate, probate court, Proper Will, public notice, safety deposit box, San Francisco, San Jose, San Mateo, state of mind, testamentary intent, trustee, undue influence
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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 Estate Planning, Business Law, Estate Tax, Trusts & Estates, Trust Administration, Succession Planning, Partnerships, Asset Protection, Radio Show: Wealth Preservation and You
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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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 $399, 1099 Forms, Brokerage Accounts, capital gains, cost basis, CP-2000, Divorce, Elder Abuse, estate plan trustee, Estate Planning, fiduciary responsibility, financial planner, foreign bank account, Form 1099, home equity line of credit, home improvement program, IRS, KDOW, living trusts, medical qualification program, multiple beneficiaries, non-licensed contractors, self dealing, tax filing, trust mill, trust package, Wealth Preservation and You
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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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Asset Protection: Umbrella Coverage May Be Enough Based On An Assessment Of Your Risk
We recently discussed Asset Protection on our weekly KDOW 1220 AM radio show, Wealth Preservation and You. Instead of the usual approach of how to protect large amounts of valuable assets, we looked at the subject from the perspective of an … Continue reading
Posted in Asset Protection, Business Law, Estate Planning, Partnerships, Radio Show: Wealth Preservation and You, Starting a New Business, Succession Planning
Tagged 401(k) account, Alaska, artwork, Asset Protection, automobiles, Bay area, business partners, business planning, car collisions, caveat emptor, charging order, children's education, consumers, corporate assets, cross-state LLC registration, Delaware, do-it-yourself asset protection, gold jewelry, heart attacks, inside creditors, KDOW 1220 AM, landlords, lawsuit, living trusts, LLC versus corporation, middle-class homeowner, Nevada, New Jersey, outside creditors, personal assets, Pleasanton, radio show, rental property, retirement, San Francisco, San Jose, San Mateo, savings account, small-business owner, State Farm insurance agent, stocks, tenants, umbrella insurance, umbrella policy, Wealth Preservation and You, Wen Ling Cheng, worst-case scenario, Wyoming
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