When parents are asked what they want for their children in life, the answers you are most likely to hear are “to be happy and to be self-sufficient”. While there is no clear path to these goals for anyone, there are inherently more challenges facing children with special needs. Covering even the basics like healthcare … Continued
For entrepreneurs and major stakeholders of Silicon Valley companies, a liquidity event puts in motion a series of complex and timely actions that investors must navigate, including potentially large tax bills to manage. For the philanthropically minded, one related tax-saving strategy worth exploring is the funding of a charitable vehicle. There are a handful of … Continued
Silicon Valley is home to countless individuals who have created significant wealth through grit and ingenuity; but it is also located in California, a notoriously litigious state. Diversifying one’s concentrated wealth in a single company stock into a well-allocated portfolio can help alleviate market risk, but how does one shield hard-earned money against the various … Continued
In Part One of this series, we explored the six key qualities and characteristics to consider when selecting the executor and successor trustee for your estate. In Part Two of this series, we will next explore the various types of executors and successor trustees available. You may be surrounded by loved ones and have many … Continued
One critical component of a solid estate plan is the named successor trustee(s) and executor(s). This is the person (or people) who will safe-guard and carry out your wishes at death. Every situation is different and there is no one-size-fits-all solution, however there are some universal considerations that may help you organize your search for … Continued
Like any classic “Spaghetti Western”, the recent major tax law has some “good” elements with regards to residential real estate, some “bad” outcomes, and some “ugly” aspects, too … with the “u” in ugly standing for unclear, unknown, and unresolved. These various factors are laid out below. But the main overriding feature of the law … Continued
As our lives are increasingly spent online from bill pay, to email and blogs to Facebook and Instagram, have you thought about what happens to your digital assets when you die? How will your successor trustee, executor or loved ones gain access to important records or treasured photographs stored in a vault in the cloud? … Continued
Silicon Valley is home to countless entrepreneurs who have created significant wealth, all concentrated in a single stock with very low cost basis. These positions can be quite volatile and often do not generate much income, if at all. Also, by selling the shares, the individual is faced with what can be sizeable capital gains … Continued
Custodial accounts are the simplest way to give property to minors, easily established at banks and brokerage firms, and do not require the need for an attorney to create a special trust. The gifts are deemed irrevocable, and age limits then apply for when the assets become fully available to the beneficiary child, typically … Continued
One of the biggest changes occurred here, with the taxable estate exemption doubled. The number of estates predicted to owe tax in 2018 versus 2017 may be cut in half thanks to the change in the estate and gift tax exemption amount. The new limit, which applies to gifts made during life or assets left … Continued