Purpose and Scope of the Company
PURPOSE AND SCOPE OF THE COMPANY Most people initially think that an entity is only formed and organized for asset protection. Most people don’t know that if the appropriate entity is chosen and set up properly it can help meet the following goals: Income tax:...
Everything you Need to Know About the CA Statewide Rent Control Bill
Everything You Need to Know About the CA Statewide Rent Control Bill On October 8th, 2019, CA Governor Gavin Newsom signed bill AB 1482, also known as the Tenant Protection Act of 2019, effective January 1, 2020, in efforts to ease the housing crisis. The sunset...
Split Roll Property Tax Initiative
Split Role Property Tax Initiative makes it to 2020 Ballot. Commercial and Industrial Properties May Be Subject to Reassessment In the 1970s Californian voters passed Proposition 13, which set the property tax rate cap at 1% of the assessed value of real property at...
Bay Area Property Ownership
Bay Area Property Ownership: Joint Tenancy, Tenants in Common or Community Property? In California, when you own real property with another person, you can hold it in one of 3 different ways: Joint Tenancy; Tenants in Common, and; Community Property Joint Tenancy In a...
California’s Proposed Estate Tax Changes
CALIFORNIA’S PROPOSED ESTATE TAX FAILS IN SENATE WILL NOT, FOR NOW, MAKE IT TO THE 2020 BALLOT California State Senator Scott Weiner recently introduced Senate Bill 378, which would impose gift, estate, and generation-skipping taxes on all transfers after December 31...
Estate Planning for Non-US Citizens
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Safety Nets Updated
Introduction This article updates the earlier article on this topic. As that earlier article mentioned, one relatively common estate planning arrangement is for the grantor of a trust, which is a grantor trust with respect to him or her for income tax purposes, to...
Steeply Declining Rolling GRATs: Perhaps the Best GRAT ever
Some Basic GRAT Concepts Grantor Retained Annuity Trusts (GRATs), described in Code Sec. 2702(b), are successful in transmitting property out of a property owner’s estate at no estate tax cost and no or minimal gift tax cost to the extent the assets contributed to the...
A Will or a Trust – That is the Question
A WILL OR A TRUST - THAT IS THE QUESTION When a couple with young children approach estate planning for the rst time, the rst hurdle in the planning process is to determine what type of estate plan to use: one that is based on a Will or one that is based on a...
Top 5 Tips for Trustees
A trust is a legal contract created by the trust maker. You, the trustee, are overseeing and properly managing the assets in the trust. The assets in the trust are then given to the beneficiaries. The following tips are gathered from What to do When a Loved one...
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