Multiple Financial Advisor Referral Relationships May Be a Big MISTAKE!

Download Printable Article By Philip J. Kavesh, J.D., LL.M. (Taxation), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Trust & Probate Law Does that sound crazy to you? Probably! But, hear me out. (By the way, if you’re a financial advisor, what I’ll say applies equally to you having too many estate planning attorney relationships.) Over the years, I have consistently heard fellow estate planning attorneys tell me all of the reasons why the dedicated, single-financial advisor referral relationship (or a relationship with only one company or group of advisors) that I use in my practice doesn’t work…

Feeling the Burn: The Importance of the Tax Burn in Estate Tax Planning

Download Printable Article By Steven J. Oshins Esq., AEP (Distinguished) Decades ago, Jane Fonda made the phrase “feel the burn” popular in her highly successful aerobic exercise videotapes.  More recently, “feel the Bern” became popular as the de facto slogan during Bernie Sanders’ presidential bid. But in advanced estate tax planning, we feel a different kind of burn called the “tax burn”.  Very simply, our client transfers assets to an Intentionally Defective Grantor Trust (“IDGT”) and continues to pay all income taxes on income produced by the transferred assets, including capital gains taxes on sales of those assets. By continuing…

Knowing What You Don’t Know: What an Effective Financial Plan Anticipates

Download Printable Article By Jason Oshins, Financial Advisor, MBA Mark Twain said, “It ain’t what you don’t know that gets you into trouble.  It’s what you know for sure that just ain’t so.”  More often than not, planning is done as though the world is linear.  Advisors and clients make assumptions as though life moves in a straight line and nothing unexpected ever occurs.  Then, when the unexpected occurs – and it will – the plan collapses. An effective plan is dynamic, anticipating and addressing what it can, and preventing the unexpected from derailing a desired future existence.  Furthermore, it…

Reducing Or Eliminating Capital Gains On The Sale Of Businesses And Real Estate

Download Printable Article By Bruce Givner, Esq. Most people are familiar with the use of a Section 1031 tax-deferred exchange as a way to handle the disposition of real estate.  Some people are familiar with the use of a charitable remainder trust as a way to handle the disposition of unmortgaged real estate and stock in a “C” corporation.  However, Section 1031 exchanges have undesired time constraints; CRTs are disliked because (i) the taxpayer can’t use the sales proceeds and (ii) nothing is left to go to the children (not necessarily true). The best approach is to talk to clients…

Top 10 E-mail Etiquette Rules for Estate Planning Professionals (and Their Assistants and Staff)

Download Printable Article By Kristina Schneider, Executive Assistant Electronic mail (otherwise known as e-mail) plays an important part in any business these days. It’s helped make communicating and doing business far more efficient and simpler. However, as with most things in business, there are certain rules that professionals should follow when it comes to using e-mail. If not done correctly, it can actually create unnecessary confusion, chaos, and an unnecessary amount of miscommunication (and maybe even legal liability!). Below, you will find what I consider to be the ten most important e-mail etiquette rules to live and work by. (NOTE:…