Deciding Between a Trust and a LLC for Business Owners

30 Nov

When starting a business, two of the biggest considerations are often the tax consequences and limiting the liability of the owners.  While an explanation of the tax pros and cons of selecting a specific entity can be complex, explaining how to limit one’s liability is fairly straightforward. The most common way to achieve this limitation of liability is to […]

What to do When You Are Named Successor Trustee

31 Jul

When an individual or couple creates a revocable living trust, they typically name themselves as the initial trustee.  When they become incapacitated, die, or simply become tired with the role as trustee, a successor trustee is named.  This successor usually comes in the form of a corporate trustee, professional fiduciary, or family member.  The majority […]

Estate Planning and the NBA

31 May
sterling nba

Even for those who don’t follow the NBA, many have heard the news about Donald Sterling over the past couple months.  This week, it was reported that Steve Ballmer would purchase the Los Angeles Clippers for $2 billion.  Part of what made that sale possible was product of estate planning. Donald and his wife Shelly had […]

Tax Changes for 2014

31 Jan
2014 tax law changes

With a new year comes new tax rules.  I’ve touched on some of these changes in previous posts, such as the new home office deduction and the effect of DOMA for same sex couples.  Some of the more talked about changes have come from the Affordable Care Act (Obamacare or the ACA).  While the ACA […]

Estate Planning for Digital Assets

27 Nov
Estate Planning for Digital Assets

In the past year I’ve gotten more and more questions about what happens to someone’s online accounts when they pass away. This is certainly a great question that often goes unconsidered, even for people that have more formal estate planning in place. With the amount of information available in these accounts, both private and public, […]

How the Government Shutdown Affects Your Taxes

11 Oct

As almost everyone has heard by now, the US government has shutdown a majority of it’s operations. While this affects many different agencies, one hit particularly hard was the Internal Revenue Service, who has less than 10% of its 94,000 plus employees working right now. Many are left wondering the ramifications of these developments from […]

Distinguishing a Living Will From a Will

20 Sep

One of the most common estate planning requests I get is to draft a living will.  While this is great because everyone needs one, I have found that many people are confusing a living will with another document, such as a will or even a living trust.  This post will explain what a living will […]