News

Authored by Haley Price Life insurance can play a critical role in protecting the financial well-being of loved ones in the event of an individual’s passing. One strategic approach to maximize the benefits of life insurance is to hold the policy in a trust. Whether or not you should put your life insurance in a […]

Authored by Mark Lobb Welcome to the September version of The Lobb Report.  The California legislative session ended on September 14.  There have been major changes in employment laws but no major new tax laws.  There are three separate ballot initiatives which are significant when it comes to tax increases which I will discuss in

Authored by Mark Lobb The August edition of the Lobb Report covers a wide range of topics for business owners from employment law to tax to asset protection.  I hope you are having a profitable summer. The content this month is focused heavily on new employment laws in California.  A few years back I polled

Authored by Mark Lobb “Play by the rules but be ferocious.” (Phil Knight).  This edition of the Lobb Report provides you with some new rules. In the dynamic world of commerce, laws concerning businesses and business owners are evolving, impacting how closely held companies operate.  As a responsible business owner, staying abreast of changes in

Authored by Mark Lobb At the end of June 2023, the California Senate and Assembly passed legislation which will eliminate the use of incomplete non-grantor trusts (ING or INGs) to prevent California taxpayers from incurring California state tax under certain circumstances (SB 131).  California SB 131 tracks New York legislation (Part Q of the Fiscal

Authored by Mark Lobb Incomplete Non-Grantor Trusts Update Recent Lobb Reports have discussed the potential demise of the use by California residents of incomplete non-grantor trusts (INGs). The 2023-2024 California budget proposed treating INGs as grantor trusts so California could tax certain income incurred by the INGs. At the time of this writing, both the

Authored by Mark Lobb As we enter June and approach mid-year, there are many updates for business owners which touch on the L&P Four Pillars of Planning: tax optimization, asset protection, estate planning and succession planning.  Below are four areas businesses owners need to be aware of for both personal and business planning: AI Warning:

Authored by Kristin Gifford & Natalia Mowery Funding Instructions After a trust is signed, it must be funded.  You may be asking, what is funding and what assets should be funded into the trust?  Funding is the process of transferring assets to a trust.  While the assets funded into a trust will be specific to

Authored by Mark Lobb In the wake of the Signature Bank and Silicon Valley Bank failures, and with other regional banks potentially on the brink of collapsing, it’s worth considering what happens when a bank fails and what you can do to protect your assets. What happens to your assets and accounts when an FDIC-insured

A Deferred Sales Trust (sometimes abbreviated as a “DST”) can be an efficient way for a client to sell real property while also saving money on taxes.  A DST allows clients to defer the recognition of capital gain taxes to make better use of the sale proceeds by having more money available for investment opportunities