Category Archives: Tax Law
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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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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Offshore Voluntary Disclosure Initiative is Revised Indefinitely for Undeclared Offshore Bank Accounts and Overseas Assets
The Internal Revenue Service has reopened the very popular and lucrative Offshore Voluntary Disclosure Initiative (OVDI) for an indefinite period, according to the IRS Newswire release on January 9. If your middle name is “Revenue” and you discover a way … Continue reading
Posted in Offshore Bank Account, Overseas Assets, Tax Law
Tagged California Tax Attorney, Connie Yi, CPA, Internal Revenue Service, IRS Newswire, Offshore Voluntary Disclosure Initiative, OVDI, overseas assets, San Francisco Bay Area, U.S. taxpayers, Undeclared Offshore Bank Accounts
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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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Reporting Foreign Bank Accounts and Overseas Assets: Know the Rules for Filing 2011 Tax Returns
We wish our readers a Happy New Year and hope you had an enjoyable holiday season. Of course, as soon as the calendar turns to a new year, our thoughts turn to filing annual tax returns. One of the tax-related … Continue reading
Posted in Offshore Bank Account, Overseas Assets, Tax Law
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Tis The Season For Charitable Gifting: Options Include Charitable Trusts, Private Foundations & Donor-Advised Funds
Seasons greetings! With the holidays upon us, along with the looming end of the tax year, our thoughts have turned to charitable gifting as a way to help those in need, by diverting a portion of potential tax payments to … Continue reading
Posted in Charitable Planning, Estate Planning, Tax Law, Trusts & Estates
Tagged 2011 tax year, arms length, brokerage account, capital gains tax attorney, capital gains taxes, Certified Public Account, Charitable Gifting, charitable giving, Charitable Lead Trust, charitable organization, charitable planning attorney, Charitable Remainder Trust, Charitable Trust, charitable trust fund, Charitable Trusts, Charitable Unit Trust, Charles Schwab, Connie Yi, direct donation, Direct Gift, Donor-Advised Fund, Donor-Advised Funds, Donor-Advised Funds Guide Sheet, fair market value, financial records, IRS, IRS.gov, KDOW, letter of confirmation, Life Cycle of a Private Foundation, non-profit, not-for-profit organization, Office of the Attorney General, Pleasanton, Private Foundation, Private Foundations, San Francisco, San Francisco Bay Area, San Jose, San Mateo, self dealing, stock ownership, tax calculations, tax filing, Tax Information for Charities, tax law attorney, The Law Offices of Connie Yi, transfer ownership, trustee, Vangaurd
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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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HARP and Other Options for Underwater and Troubled Real Estate in Your Estate Planning
This past week brought a bit of relief to a portion of the millions of American homeowners whose home mortgages are “underwater” when the White House announced revisions to the Housing Affordable Refinance Program (HARP). The changes to HARP, which … Continue reading
Posted in Distressed Property, Estate Planning, Estate Tax, Short Sale, Strategic Foreclosure
Tagged cancellation of debt, capital gains tax, credit scores, Department of Housing and Urban Development, Department of the Treasury, estate plan, Estate Planning, Fannie Mae, foreclosure, Freddie Mac, HARP, home mortgages, Housing Affordable Refinance Program, Housing Market, Loan Modification, mortgage payments, second mortgage, short sale, tax exemptions, troubled real estate, underwater real estate
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