Estate Planning with Limited Liability Companies and the Problem with California

In my estate planning practice, in certain circumstances, I utilize limited liability companies as a means of transferring investment assets, including real estate, to the beneficiaries under the client’s Last Will and Testament or Revocable Living Trust.  Aside from asset protection (protection from creditors and other third party claims), I recommend LLCs to avoid probate

Bitcoin and Cryptocurrency – An Update

As I mentioned in an earlier post, I spoke last month on the Federal taxation of Bitcoin and other crypto-currencies. One of the unknowns at that point was whether the IRS would allow or respect Bitcoin investments in IRAs – that question wasn’t answered in IRS Notice 2014-21 (the Service’s initial attempt to explain virtual

Estate Planning during Divorce

Estate Planning during Divorce

        Estate plans prepared for married couples will vary in complexity and detail but generally follow the same theme: The revocable trust or will typically provides that upon the death of the first spouse, the surviving spouse will not only serve as trustee and executor, but will also receive most if not

ASSET PROTECTION OF INTELLECTUAL PROPERTY

ASSET PROTECTION OF INTELLECTUAL PROPERTY

          I’m pretty sure everyone has ideas – What should I do today? What’s for dinner tonight? What’s the best way to get to work this morning? For everyone, there’s a “laundry list” of ideas every day. But are those ideas “assets”? Thomas Edison invented the lightbulb. Alexander Graham Bell invented

Final Beneficiary Designation

Final Beneficiary Designation

Just Who is the Beneficiary? Determining the beneficiary of a retirement account or life insurance policy of a deceased person can be challenging, but it’s easier than you think. To prevent any confusion, it’s crucial you know about what benefits get passed on and to whom.  There continues to be perplexity about these matters for