If you wish to create a new trust or update an existing estate plan, you will need skill and expertise across many disciplines: tax, estate planning, and legal services. Look for a service provider who can seamlessly...more
3/27/2025
/ Beneficiaries ,
Business Succession ,
Estate Planning ,
Foreign Investment ,
Internal Revenue Code (IRC) ,
IRS ,
Probate ,
Small Business ,
Tax Planning ,
Tax Reform ,
Trusts
What do you need to know about estate planning for pets in San Diego and throughout California? What are some of the essential elements of an effective estate plan that will protect your beloved companion(s) while ensuring...more
How often should you review your trust and estate plan? Is there a regular cycle to these reviews, or should they be driven by significant events in your life or the lives of your beneficiaries and executor or trustee? How...more
2/26/2025
/ Alternative Minimum Tax ,
Asset Protection ,
Beneficiaries ,
Estate Planning ,
Estate Tax ,
Federal Taxes ,
Income Taxes ,
Probate ,
Tax Code ,
Tax Cuts and Jobs Act ,
Tax Liability ,
Tax Planning ,
Trust Administration ,
Trusts
A well-structured trust is often a central estate planning tool for small businesses and closely held family business owners when passing a business or wealth to your children. This includes heirs, beneficiaries, and future...more
The IRS has clearly identified legitimate reasons why "U.S. Persons" would establish or maintain ownership in a foreign trust. However, a foreign trust creates complex IRS reporting requirements for US taxpayers who own a...more
1/23/2025
/ Anti-Money Laundering ,
Beneficiaries ,
Compliance ,
FACTA ,
FBAR ,
FinCEN ,
Foreign Financial Institutions (FFI) ,
Foreign Investment ,
Foreign Trusts ,
Grantor Trusts ,
Internal Revenue Code (IRC) ,
International Tax Issues ,
IRS ,
Reporting Requirements ,
Tax Liability ,
Tax Planning ,
Tax Returns ,
Trusts
Why is the end of the year a good time to consider trust and estate planning for business owners? Do you own real property or have other investments outside your business interests? Have you given any thought to what would...more
12/19/2024
/ Asset Management ,
Beneficiaries ,
Business Ownership ,
Business Strategies ,
Business Succession ,
Creditors ,
Estate Planning ,
Investment ,
Life Insurance ,
Privacy Laws ,
Probate ,
Real Estate Investments ,
Revocable Trusts ,
Tax Planning ,
Trusts ,
Wills
Hopefully, by now, you’ve become aware of the Beneficial Ownership Information Form, commonly referred to as the BOI Form or BOI Report. The Financial Crimes Enforcement Network (FinCEN) finalized rules for this report late...more
12/5/2024
/ Beneficial Owner ,
Compliance ,
Corporate Transparency Act ,
Filing Deadlines ,
Final Rules ,
FinCEN ,
Government Agencies ,
Law Enforcement ,
Limited Liability Partnerships ,
Limited Partnerships ,
Noncompliance ,
Penalties ,
Reporting Requirements ,
SBA ,
Trusts
It is important to update your trust and estate plan regularly to protect your interests and meet the changing requirements of your future while integrating changes in law and best practices to provide for every potential...more
9/27/2024
/ Alternative Minimum Tax ,
Beneficiaries ,
Estate Planning ,
Estate-Tax Exemption ,
Grantors ,
Healthcare ,
Irrevocable Trusts ,
Revocable Trusts ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Trusts
Are you considering remarriage? Do you and/or your spouse have children from a previous marriage? If so, remarriage and a blended family are excellent reasons for a new or updated estate plan. Blended families are quickly...more
If you are in the process of long-term estate planning or updating an existing estate plan, the process for passing assets and accounts to your heirs is about to become much more difficult and expensive. Presently, each...more
6/6/2024
/ Beneficiaries ,
Estate Planning ,
Estate Tax ,
Family Limited Liability Companies ,
Family Limited Partnerships ,
Grantor Retained Annuity Trusts (GRATs) ,
Heirs ,
Irrevocable Trusts ,
Popular ,
Revocable Trusts ,
Spousal Lifetime Access Trust (SLAT) ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Transfer of Assets ,
Trusts
What are some of the fundamental issues when estate planning for business owners? Why should every business owner have an estate plan? What are some of the primary issues to address in an effective estate plan for those who...more
4/30/2024
/ Business Ownership ,
Business Succession ,
California ,
Community Property ,
Estate Planning ,
Estate Tax ,
Gift Tax ,
Inheritance ,
Marital Assets ,
Probate ,
Probate Courts ,
Tax Cuts and Jobs Act ,
Trusts
Most US homeowners and business owners understand the importance of an estate plan; they just never seem to get around to completing the task. What do you need to know about a trust? Why are trusts a central component of any...more
3/22/2024
/ Beneficiaries ,
Business Succession ,
Estate Planning ,
Grantors ,
Irrevocable Trusts ,
Living Trust ,
Probate ,
Revocable Trusts ,
Testamentary Trust ,
Trustees ,
Trusts
Isn’t it interesting that success is built into business succession. Still, most US companies do not have a business succession plan in place. What is business succession planning and how does it enhance your own success and...more
1/30/2024
/ Beneficiaries ,
Business Ownership ,
Business Succession ,
Estate Planning ,
Incapacitated Persons ,
Insurance Industry ,
Legal Entities ,
Legitimate Business Interest ,
Life Insurance ,
Ongoing Operations ,
Retirement ,
Revocable Trusts ,
Succession Planning ,
Tax Planning ,
Trusts
What is the importance of succession planning for business owners? Why should you be concerned about the development and implementation of succession planning if you own a business or a significant interest in an LLC, S...more
12/22/2023
/ Beneficiaries ,
Business Ownership ,
Business Succession ,
Business Taxes ,
C-Corporation ,
Capital Requirements ,
Estate Planning ,
Fees ,
Heirs ,
Life Insurance ,
Limited Liability Company (LLC) ,
Liquidity ,
Ownership Interest ,
Retirement ,
S-Corporation ,
Succession Planning ,
Trusts
What are the most important elements of estate and tax planning for US expatriates? Are you planning to move out of the United States? Are you a US taxpayer who lives and works outside of the country? What are some of the...more
11/16/2023
/ Advance Health Care Directive ,
Alternate Investment Vehicles (AIVs) ,
Beneficiaries ,
Capital Gains Tax ,
Compliance ,
Documentation ,
Estate Planning ,
Expatriates ,
FBAR ,
FinCEN ,
Foreign Banks ,
Foreign Financial Accounts ,
Grantors ,
Income Taxes ,
Investment Portfolios ,
IRS ,
Life Insurance ,
Living Will ,
Mutual Funds ,
Passive Investments ,
Power of Attorney ,
Probate ,
Property Owners ,
Retirement Plan ,
Risk Mitigation ,
Tax Deductions ,
Tax Planning ,
Trusts
Today is the anniversary of the largest Powerball lottery victory in the United States of $2.04 billion. Just over the $1.765 billion jackpot claimed last month (Oct 2023). What are some tax tips for lottery winners and...more
We invite you to listen to our podcast, A Primer on Trusts with Janathan Allen. We begin with an overview of several key terms associated with a trust including: Trustee, Grantor, Beneficiary, Executor, Pour Over Will,...more