Download Printable Article By Kristina Schneider, Executive Assistant The common saying “The devil is in the details” is probably never more true than when it comes to seminar marketing. Whenever I’m discussing seminar marketing with attorneys, it becomes pretty clear to me that a lot of estate planning attorneys are overlooking a number of key details that should be completed. Successful seminar marketing is the result that comes from the compound effect of a lot of steps to be handled during the planning process, just before the seminar, during the seminar, and right after. Even missing one or two of…
The Two-Year Installment Sale
Download Printable Article By Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA From 2003 to 2012, the long-term capital gains rate was 5% for taxpayers in the two lowest ordinary income tax brackets and 15% for all other taxpayers. The American Taxpayer Relief Act of 2012 (ATRA) added new progressivity to the tax rates, setting the long-term capital gains rate at 0% for the 10% and 15% ordinary income tax brackets, 15% for the 25% and 35% ordinary income brackets and 20% for the 39.6% ordinary income tax bracket. This progressivity greatly increases the importance of spreading out large long-term…
Nevada Supreme Court Approves 365-Year Dynasty Trusts and Sends a Message
Download Printable Article By Steven J. Oshins Esq., AEP (Distinguished) In a unanimous opinion issued on March 26, 2015, the Supreme Court of the State of Nevada made a bold statement by ratifying the Nevada 365-year rule against perpetuities in the case of Bullion Monarch Mining, Inc. v. Barrick Goldstrike Mines, Inc., 131 Nev. Advance Opinion 13 (2015). Although the 365-year perpetuities law was already firmly engraved in the Nevada statutes and therefore this court case should have gone largely unnoticed, it was the message sent by the Nevada Supreme Court Justices to a small group of anti-Nevada promoters that…
Helpful Computer Programs for Organization and Efficiency
Download Printable Article By Megan DeLaGarza, Executive Assistant Staying organized and on top of a busy workload and boss can be time-consuming and overwhelming. Even if you have a plan of attack, it’s not always easy to find where exactly to start or the best way to implement new ideas. Below are a few resources that might prove helpful not only for you, but perhaps for your entire firm, to execute efficient and effective daily work. Text Expander. Save time and effort with TextExpander to avoid typing the same thing over and over, whether it’s a simple email signature or…
New Single Member LLC Veil Piercing Case Is a Wakeup Call to Attorneys and Spells Opportunity
Download Printable Article By Mason D. Salisbury, J.D. The case in point is the Wyoming Supreme Court’s Greenhunter Energy, Inc. v. Western, 2014 WY 144, 2014 WL 5794332 (WY S.C., Nov. 7, 2014). First and foremost, Greenhunter reminds us that single member LLCs (“SMLLCs”) really do get pierced! But contrary to some initial reactions, Greenhunter is not the death knell for SMLLCs as asset protectors, far from it! The better take on Greenhunter with its emphasis on the multipart State court analysis of SMLLC piercing “factors” is twofold. One, Greenhunter is most certainly a wakeup call to drafting attorneys that…
The Top 10 Seminar Planning & Marketing Mistakes Attorneys Make!
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 We’ve indicated time and time again in this newsletter column why seminar marketing – – whether to the public, to professional referral sources, or to your existing clients – – can drive substantial, consistent revenue into your practice (and has, for me, for over 30 years). But, successful seminar results depend on the details of your seminar marketing being done right. Some estate planning professionals ignore, or simply aren’t aware of, these details and their seminar…
Mastering Portability
Download Printable Article By: Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA An important provision within the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (“2010 Tax Relief Act”) allows an executor of an estate of a married decedent the option to transfer any unused estate tax exemption amount to the surviving spouse.[1] Thus, for example, if a decedent used only a portion of his or her estate tax exemption, the estate could elect to have the remaining portion pass to the surviving spouse, giving the surviving spouse a larger estate tax exemption.[2] Although this portability provision…
An Evidence-Based Approach to Investing
Download Printable Article By Jason Oshins, Financial Advisor, MBA Evidence-based medicine is defined as “the conscientious, explicit, and judicious use of current best evidence in making decisions about the care of individual patients.”[1] If possible, wouldn’t it be prudent to approach investing similarly? Wouldn’t it make sense to apply the concepts developed by Nobel Laureates? Well, you can. Philosopher Alfred A. Montapert famously said, “Do not confuse motion and progress.” Motion also creates the illusion of control. An excellent example of this is in the investment world. Wall Street perpetuates the notion that successful investing requires stock picking and market…
Are You Aware Decanting Causes Tax Issues?
Download Printable Article By Robert S. Keebler, CPA/PFS, MST, AEP (Distinguished), CGMA Decanting is the act of distributing the assets of an old trust to a new one with more favorable terms. It provides an easy, inexpensive method for correcting errors or ambiguities, adapting a trust to changes in a settlor’s objectives or changes in a beneficiary’s circumstances, taking advantage of new planning opportunities or adding flexibility to a trust. However, because trust decanting is a relatively new estate planning strategy, its tax consequences have not yet been clearly established. The IRS is considering ways to address these tax consequences…
Keep Your E-Mail Inbox Under Control (or It Will Control You!)
Download Printable Article By Megan DeLaGarza, Executive Assistant Technology is a concurrent blessing and curse. Email has not been around terribly long in the grand scheme of office administration, so we are just now learning the effects of it’s omnipresence in a plugged in world. The biggest problem with email is that it’s a huge distraction. The pressure to respond right away leads you to working off-task. An inbox that is open with notifications popping up makes this even worse. Responding to your inbox as a to-do list leads to working on the wrong priorities. It’s time to break these…