The myriad options presented to homebuyers when titling real estate have significant tax, asset protection, and estate planning consequences. Failing to consider these issues often results in unanticipated taxes, liability,…more
While it’s not a pleasant subject, sometimes parents pass away while their children are still under the age of 18. What happens then? In this article, we discuss the perils of guardianship and three ways to avoid it…more
Revocable living trusts have become one of the most popular testamentary devices in California. There are numerous reasons why individuals choose to execute trusts, including the avoidance of probate fees, the increase in…more
In general, the decision to hire an employee or an independent contractor will depend on several factors, including the type of business, corporate form, and tax structure. Often, employers do not wish to burden themselves with…more
With a check of the box, business owners can choose a tax structure with enormous financial repercussions both now and in the future. Or, they can find themselves in a situation where corporate formalities were not observed,…more
What kind estate planning is advisable for individuals with a non US citizen spouse? In most cases, a decedent’s estate may be transferred to a US citizen spouse without any estate tax, thanks to a high exclusion amount for US…more
Companionship animals play an important role in the lives of humans. Cats keep us company on the couch. Dogs play Frisbee with us at the park. Pets can even prolong a person’s life, lowering the risk of heart attack and rates of…more
In California, Proposition 13 has revolutionized the property tax system. Parents can pass on a house to their children without any reassessment of property tax. However, one might lose the exception from reassessment if one…more
What is an irrevocable life insurance trust (“ILIT”) and why would it be useful to me? In this article, attorney John Martin explores the upsides and downsides of the “ILIT.” The author concludes that an ILIT is both a…more
In this article, attorney John Martin addresses three succession strategies for California business and property owners. Such persons often hold strong values and wish to keep their assets in the family or preserve their…more
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