Generate More Revenue This Year with More Referrals from Clients

By Philip J. Kavesh, J.D., LL.M. (Taxation), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Trust & Probate Law If you’ve read my previous newsletter articles or attended any of my teleconferences (or our Ultimate Level event), you know that I am a huge proponent of utilizing time-tested systems to run a successful practice – – from marketing to receptionist scripts, to initial client meetings, to generating trust documents, to signing meetings, and regular client follow-ups…FOR EVERYTHING. Yet, even those who do systematize virtually all of their practice often fail to have a system for generating new client…

Estate Planning is a New Ballgame!

By Martin M. Shenkman, CPA, MBA, PFS, AEP, JD Estate planning is evolving in significant ways, and if you have not updated your planning and documents (planning always must precede documents) for the new world of estate planning, your planning will likely NOT (caps intended) work. In December 2017 what some call the Tax Cut Jobs Act of 2017 (the “2017 Tax Act”) which dramatically changed how many people should handle all tax planning (not just their estate tax planning). More than ever before your estate planning is intertwined with your income tax planning. Many (perhaps most) old wills and…

Do You Know What You Are Doing?

By Philip J. Kavesh, J.D., LL.M. (Taxation), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Trust & Probate Law It’s a bit curious how you can vividly recall just a few, brief occurrences in your life that have had an unexpected but profound and long lasting effect on you. I remember one day speaking with a businessman on a plane about what I do as an estate planning attorney and he asked, “What’s your customer service process?” I was immediately taken aback because I hadn’t thought of what I did with clients as a process, nor could I…

Do You Hate Marketing?

By Kristina Schneider When it comes to the idea of marketing, most lawyers cringe. For many lawyers, marketing seems tacky, unprofessional, and perhaps even “beneath” them.  They didn’t study for countless hours and pay thousands of dollars to get all those degrees and credentials behind their name to then be bothered with the idea of marketing. But, here’s the reality.  If you run your own practice, you are a business owner.  And, if you’re a business owner, marketing is essential to the success and, frankly, the survival of your practice. Marketing your business doesn’t mean you have to go out and…

Toni 1 Trust v. Wacker: A Rare Domestic Asset Protection Trust Case

By Steven J. Oshins, Esq., AEP (Distinguished) To this date, there still isn’t even one DAPT case where a creditor reached into the trust and grabbed assets in a non-bankruptcy, non-fraudulent conveyance scenario. Let me repeat this:  To this date, there still isn’t even one DAPT case where a creditor reached into the trust and grabbed assets in a non-bankruptcy, non-fraudulent conveyance scenario. Toni 1 Trust v. Wacker A new court decision in the Supreme Court of Alaska was issued on March 2nd.  A handful of asset protection planners who promote foreign asset protection trusts wrote articles and blogs about…

Exploiting the New IRC 199A Pass-Thru Business Deduction Using Multiple Taxpayers

By Steven J. Oshins, Esq., AEP (Distinguished) The 2017 Tax Act was rushed in order to make it effective as of January 1, 2018.  Anything that is rushed certainly will create opportunities for creative estate planners who will exploit the new tax laws for the benefit of their clients.  The greatest opportunity business owners received from the Trump Tax Act is the new IRC 199A pass-thru business deduction.  This deduction allows certain taxpayers to deduct 20% of their Qualified Business Income. The Taxable Income Limitations For a married couple with taxable income of no more than $315,000 and for an…

Six Big Mistakes When Choosing an Associate Attorney

By Philip J. Kavesh, J.D., LL.M. (Taxation), CFP®, ChFC, California State Bar Certified Specialist in Estate Planning, Trust & Probate Law Although attorneys are trained in the technical aspects of the law, we haven’t been taught how to run a successful business, often relying upon trial and error as costly teachers. In the process of building my own practice, I have made each and every one of the following mistakes when hiring associate attorneys, so I am speaking to you from experience. Mistake #1: Focusing mainly on the associate’s law school, credentials, experience and technical expertise. As educated and experienced…

Making Meaning Out of Stock Market Noise…AGAIN

By Jason Oshins, Financial Advisor, MBA I’m a Yankees fan.  A proud one at that.  The Yankees have had measured success over the long term.  My favorite team of all time is the team that won the World Series in 1998.  They set a record for most games won that year—they won 114 games.  Do you also know what happened?  They lost 48 games!  Thirty percent of their games!  That’s a lot of games to lose… unless you view it within the context of how many they won. The market has experienced extreme volatility.  Sure, it doesn’t feel good, but…

ABA Heckerling Reports from the 2018 Heckerling Institute

For the past 19 years, the American Bar Association Section of Real Property, Trust and Estate Law with the permission of the University of Miami School of Law, releases several extensive reports highlighting the various lectures and proceedings of the Heckerling Institute, one of the nation’s largest estate planning conferences, held every year in January. This past January 2018, marked the 52nd Annual Heckerling Institute.  To view, download and access these extensive reports, please click here to visit the ABA’s website. Further, at the above website, you can also access reports from prior Heckerling Institutes as well. We, at The…

FREE WEBINAR: Adding Business Planning To Your Estate Planning Practice

If you’re an estate planning attorney, you may have been struggling to figure out what’s the “next best thing” coming to you in your practice now that estate tax planning is (and has been for the last several years) effectively dead.  Business law is often an effective complement to an estate planning practice. The folks at WealthCounsel, LLC are hosting a free 60-minute webinar on Tuesday, February 27, 2018 at 10am Pacific Time (1pm Eastern Time) entitled, “Adding Business Planning To Your Estate Planning Practice” with speakers, Jeramie Fortenberry, J.D., LL.M. and Patrick Carlson, J.D., LL.M.   *NOTE: This program is sponsored…