We commented on a major IRS announcement in a recent blog post, noting in our March 20 entry that the agency’s Offshore Voluntary Disclosure Program launched back in 2009 will officially terminate on September 28 of this year. We stressed that many Americans...
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A 21st century consideration: cryptocurrency and estate planning
Cryptocurrency these days is more than the mere concept of a few futurists that it was just a few short years ago. The realm of this alternative-to-cash universe is now solidly entrenched and growing, and at least a bit more understood in the general public than it...
Some considerations relevant to estate planning, trust creation
“Who’d want to chance it?”That is the question posed to readers in a recent New York Times article addressing estate planning challenges and opportunities. The Times’ specific focus is on the uncertainty – and, pointedly, acrimony –...
Foes of offshore-account tax law dismayed by SCOTUS ruling
Legions of taxpayers and estate holders in California and across the country have dreaded for years the acronym FATCA and what it stands for. The Foreign Account Tax Compliance Act enacted as federal law by Congress in 2010 has long been viewed as a near limitless...
Famed novelist Harper Lee’s estate under a microscope
Just about any third party with even casual knowledge of Harper Lee and her life can readily see why the famed American author's estate is now commanding considerable interest following her death two years ago.For starters, Lee's personal biography was centrally...
Can I amend a trust, and is doing so a simple matter?
It is no surprise that individuals, couples and families in California and nationally find a compelling utility in trusts from an estate-planning perspective. They are impressively flexible legal tools that can be creatively tailored to promote diverse goals. We note...
Long-time IRS overseas compliance program rapidly ticking down
Americans residing abroad or living domestically with overseas financial holdings have been a collectively peeved bunch for years in their dealings with the U.S. Internal Revenue Service. Legions of them have been notably put out -- and rendered fearful -- by agency...
When an estate has no assets or is underwater
It is an optimal case for estate administrators and heirs, of course, when a wealth creator passes while leaving behind significant assets that are well protected and in a smartly crafted estate plan. That ideal scenario allows for inheritances and a related passage...
Why do families hesitate to act concerning special needs trusts?
In response to today's above-posed headline query, the answers are many.Some parents or other loving caregivers feel stymied in their efforts to make long-term plans for children with special needs owing to what a recent media focus on the matter terms "interpersonal...
Fundamental estate planning refrain: do it before it’s required
That above headline admonition is far from rocket science regarding just about anything important, right? You study before a test. You train before a physical competition. You try to save a bit of money beforehand rather than just sliding into debt to procure some new...