When is a Non-Grantor Trust Preferable?
When is a Non-Grantor Trust Preferable? Read More »
Potential Debilitating Property Tax Increase for Heirs February Deadline Quickly Approaches
California continued the attack on Proposition 13 in the last election through a few different propositions. Proposition 19 was one of the culprits. Proposition 19 contains two important changes in California property tax assessments, one of which will financially impact many estates if action is not taken immediately. The two primary provisions in Proposition 19
New Federal Reporting Requirements For Privately-Owned Companies
The Corporate Transparency Act (“CTA”) provides for the establishment of a beneficial ownership registry within the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”). It requires non-exempt domestic and foreign companies to disclose information regarding their beneficial owners. The CTA’s legislative objectives are to foster greater corporate ownership transparency and to hinder criminals from utilizing
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INGTrust Wealth Preservation Maximize your ING in 2021 (California Grantors)
If you are expecting to sell an intangible asset such as stock in a company in 2021, you should strongly consider the integration of an INGTrust into your estate, asset protection and succession plans and complete your transaction before June 30, 2021. Three states in the U.S. offer a trust described as an incomplete gift
INGTrust Wealth Preservation Maximize your ING in 2021 (California Grantors) Read More »
INGTrust Wealth Preservation Maximize your ING in 2021 Round Two (California Grantors)
Last month, I discussed proposed legislation in California relating to incomplete gift non-grantor trusts (“ING(s)”). If passed into law, the legislation will end certain tax benefits attributable to the use of INGs. My focus last month related to Nevada INGs (“NING(s)”). Many of our clients have NINGs and since my article last month, we are
INGTrust Wealth Preservation Maximize your ING in 2021 Round Two (California Grantors) Read More »
Expensing Service and Licensing Fees to Low and No Tax States
A Guide for Success The wave of businesses leaving California is growing. The exodus will increase over the next two years due to contemplated state and federal tax increases. Short of physically moving a business out of California, many business owners are keeping a California location, but opening new businesses outside of California. There are
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Portman-Cardin bill includes IRA Preservation Act
Attorney Aaron Hegji of Lobb & Plewe, LLP, and a director of the Coalition For American Retirement (CFAR) is pleased to announce that legislation prepared by the CFAR is included in the Portman Cardin retirement savings bill (the Retirement Security and Savings Act) introduced by senators Rob Portman, R-Ohio, and Ben Cardin, D-Md. The senators
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Trustees Responsibility when Trustee has Sole and Absolute Discretion
A trustee is bound by the terms of the trust agreement. The performance of his or her duties, including and especially making distributions to beneficiaries, must strictly comply with the trust terms. However, more and more trusts, especially those utilizing advanced estate, tax, and asset protection planning techniques, provide an independent trustee with sole and
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Forming and operating your business
When starting a new business, you will want to decide whether to operate your business as a sole proprietorship or as a separate person by forming an entity. In rare instances, operating as a sole proprietorship is sufficient. However, in the vast majority of instances, you will want to form an entity to operate your
Forming and operating your business Read More »
Four tips for business owners facing potential litigation
When your business interests are threatened by the prospect of litigation, you need to know what to do in order to protect your investment. We have seen many companies who failed to realize the impact that litigation has upon a business’s day-to-day operations, resulting in significant harm that is difficult to overcome. We wanted to
Four tips for business owners facing potential litigation Read More »
