One is lawful. The other can yield a lengthy prison term and financial penalties of a staggering degree. The former is part of a strategy that is both recommended and implemented by proven estate planning attorneys. The latter is a flat taboo that none of those professionals would ever endorse.
The matter might have seemed like an open-and-quickly-shut case to the widow of Johnny Hallyday.
It all seemed relatively clear for a few months. A recent discovery has all but obliterated that clarity, though, and spawned developments that spell future cloudiness rather than transparency.
How are you doing on wealth accumulation? Getting nearer the billion-dollar mark yet?
Whither the Warhols?
Aretha Franklin. Prince. James Brown.
We have stressed in select prior blog posts at the Bay Area estate planning Law Offices of Connie Yi that the U.S. Internal Revenue Service has an unflagging focus on American individuals and families with offshore money holdings.
According to one prominent national new source, “the IRS is a shadow of its former self.”
It doesn’t uniformly raise eyebrows when an individual appointed with decision-making powers concerning another person’s finances or health care questions the latter’s capacity. That actually happens routinely in California and across the country, often in cases where an agent spotlights alleged diminished capacity owing to extreme age and related factors.
Most people value their privacy, and that is certainly true for members of well-heeled families who understandably don’t want the details of their assets closely chronicled in media tabloids.