8 ASSETS THAT AVOID PROBATE

February 22, 2012 7,928 comments

by: Raymond Sheffield Avoiding Probate is often a key goal for clients in their estate planning. This article will give you eight examples of property that passes directly to your beneficiaries without the need for probate. 1. Property Passing Outright to the Surviving Spouse California has a very simple probate procedure for property that passes […]

Greatest Benefit of Creating a Power of Appointment

February 1, 2012 Comments Off on Greatest Benefit of Creating a Power of Appointment

by: Raymond Sheffield A power of appointment can be an effective estate planning technique, facilitating how your property may ultimately pass to your heirs. There are two types of powers of appointment: general & limited. Both of these powers are the same with one exception: The general power allows the power holder to appoint the […]

SMALL ESTATE AMOUNT INCREASED TO $150,000

January 2, 2012 10,173 comments

b:y Raymond Sheffield The State of California has increased the amount that may pass through the Small Estate procedure by affidavit. The amount is now $150,000. This is a much needed increase from $100,000 previously. (more…)

CARRY-OVER BASIS & ESTATE TAX RETURNS FOR 2010 GET ANOTHER EXTENSION

September 14, 2011 Comments Off on CARRY-OVER BASIS & ESTATE TAX RETURNS FOR 2010 GET ANOTHER EXTENSION

by: Raymond Sheffield Two weeks ago I wrote about the unique rules for decedents dying in 2010. On Tuesday, the IRS gave another well needed extension to Fiduciaries who are responsible for filing tax returns for decedents dying in 2010. As you know, Congress changed the tax code on December 17, 2010, creating confusion and […]

GETTING THE MOST OUT OF A CONFERENCE (PART 3)

September 12, 2011 Comments Off on GETTING THE MOST OUT OF A CONFERENCE (PART 3)

by: Raymond Sheffield I have previously posted Part 1 & Part 2 of this series looking at Networking while attending or speaking at a conference. Today I want to finish this series with some thoughts for maximizing your results through follow-up after you get home from the conference. 1. Always implement at least ONE idea […]

Should Our Family Limited Partnership Be in California?

August 31, 2011 Comments Off on Should Our Family Limited Partnership Be in California?

I am often asked why we have recommended making a different state the location for a client’s Dynasty Trust, Family Limited Partnership, or LLC. Since setting a trust or entity up in another jurisdiction is There are many different reasons for doing so Some states allow a trust to last forever. California, on the other […]

PALO ALTO CPA ASKS ABOUT 2010 DEATH & TAXES

August 30, 2011 Comments Off on PALO ALTO CPA ASKS ABOUT 2010 DEATH & TAXES

Bert Torres, a Palo Alto CPA, recently asked about the estate tax results for people who died in 2010. If the decedent’s estate is less then $3,000,000, does an estate tax return or the 8939 (Carry-Over Basis Form) need to be filed? Answer: When Congress changed the law on December 17, 2010, they modified the […]

GETTING THE MOST OUT OF A CONFERENCE (PART 2)

August 29, 2011 Comments Off on GETTING THE MOST OUT OF A CONFERENCE (PART 2)

Last week I posted Part 1 here. It focused on the planning and arrangements you could make before the conference begins. Today we will focus on what you do while attending the conference. There are many benefits to attending a professional conference. Most CPA’s, Enrolled Agents, and Financial Advisors I know attend so they can […]

GETTING THE MOST OUT OF A CONFERENCE (PART 1)

August 22, 2011 12,222 comments

As a thought leader in the legal community, I am often asked to speak at conferences in the Bay Area and around the country. Last month, I was in Chicago speaking at Wealth Counsel’s Annual Conference. I believe there were close to a thousand estate planning attorneys at the conference. My topic was International Estate […]

3 ASSETS TO CONSIDER WHEN CREATING A CHARITABLE REMAINDER TRUST

August 18, 2011 8,142 comments

Yesterday I posted an article entitled 8 Assets to Avoid Placing Into A Charitable Remainder Trust. Today, I want to follow that up with 3 suggestions for assets you can consider using when you create a Charitable Remainder Trust. Remember, each asset class is unique. You should work with your qualified estate planning attorney when […]