Anh Tran, Esq.

/Anh Tran, Esq.

About Anh Tran, Esq.

Anh Tran is the founder of Modern Wealth Law where she advises individuals and business owners on all aspects of tax and estate planning and the administration of trusts and estates. As both an estate planning attorney and a Certified Wealth Strategist®, Anh is in an unique position to counsel her clients on both estate planning and wealth management.

Trust and Estate Litigation: What’s Almost as Certain as Death? Not Talking About Your Children’s Inheritance

The New York Times cover story in the business section last weekend discussed the importance of discussing your children's inheritance with your children and the potential of trust and estate litigation. It read: What’s Almost as Certain as Death? Not Talking About the Inheritance The article states that while 84% of people surveyed had a will or trust, only 34% those people discussed their estate plan with their children. 4 Reasons Parents Don't Discuss Their Estate Plan With Their Children [...]

By | August 7th, 2014|Trust and Estate Litigation|0 Comments

The New Definition of Undue Influence – Irvine, Orange County

The definition of undue influence as we knew it changed on October 9, 2013, when Governor Jerry Brown signed AB 140, changing the definition of undue influence in Orange County, and all of California as "excessive persuasion that causes another person to act or refrain from acting by overcoming that person's free will and results in inequity." However, consideration of AB 140's text and legislative history reveals that it should be understood the new definition of undue influence is a [...]

By | July 7th, 2014|Undue Influence|0 Comments

Super Lawyers Magazine selects Anh Tran as a 2014 Rising Star in Estate Planning and Probate

Super Lawyers is a rating service of outstanding lawyers in estate planning and probate, who have attained a high-degree of peer recognition and professional achievement. The selection process is multi-phased and includes independent research, peer nominations and peer evaluations. Super Lawyers Magazine features the list and profiles of selected attorneys for each area of law, including estate planning and probate, and is distributed to attorneys throughout Orange County, and all other counties across California. In 1998, Super Lawyers launched Rising [...]

By | June 16th, 2014|Publications|0 Comments

How Should You Take Title to Your Home? (Part 3 of 3)

Something that is often overlooked when buying your home is how you should take title to your home. For most of you, when you buy a home, your biggest concerns are with the price, the location, the aesthetics, the school district, etc. Once you find the home of your dreams, you've qualified for the loan, and the inspection goes well, you're stuck with signing page after page of documents. Many of the documents just require a signature, but some actually [...]

By | April 3rd, 2014|Trust Funding|0 Comments

How to Avoid Paying Capital Gains Taxes When You Sell Your Home (Part 2 of 3)

Once you calculate your capital gains when you sell your home, the next step is figure out how to avoid paying capital gains taxes when you sell your home. Capital Gains Tax Exclusion on the Sale of Your Home You probably know that, if you sell your home, you may exclude up to $250,000 of your capital gain from tax. For married couples filing jointly, the exclusion is $500,000. Also, unmarried people who jointly own a home and separately [...]

By | March 30th, 2014|Trust Funding|1 Comment

How Do You Calculate Capital Gains Taxes When You Sell Your Home? (Part 1 of 3)

Before you can calculate the capital gains taxes on the sale of your home, you must first understand basis. The examples below are for illustrative purposes only. For a complete understanding and a full review of your specific situation, contact an Orange County Estate Planning Attorney at Modern Wealth Law. What is the Basis in Your Home? The basis in your home is what you paid for your home. So assuming you buy your home in 2014 for $500,000, [...]

By | March 27th, 2014|Trust Funding|0 Comments

Setting Up an Out of State Corporation by a California Resident

California residents often ask me, "should I set up an out of state corporation to save or avoid taxes?" California residents often mention Nevada because it has no corporate income tax and no personal income tax. Many "business advisors" promote these Nevada LLCs or corporations for this very reason (with the caveat that they are not providing any legal or tax advice to you, of course.) Despite this, often there is no tax advantage to doing so – in fact, [...]

By | March 6th, 2014|LLCs and Other Entities|0 Comments

Should You Write Your Own Will or Trust?

Often times I'm asked, "can you write your own Will or Trust?" The simple answer is yes, you can write your own Will or Trust. However, you can also perform your own surgery, invest your own assets and buy your own house. But as a doctor, financial advisor and real estate agent will tell you, attempting to cut corners in areas that require expertise usually ends up costing more than it saves. This is also true in the area of [...]

By | February 18th, 2014|Estate Planning Basics 101|0 Comments

Undue Influence – I’ll Love You More If You Buy Me a Chanel Bag

Undue influence is often times a key factor in Trust and Probate Litigation proceedings. Here is the classic undue influence case: Old man, Carl, and old woman, Lucy have 2 kids. Unfortunately, Lucy dies at 75. After some mourning, Carl gets back on his feet. Carl decides that he still has a lot of life left in him. And while he can be off his rocker at times, he is still very witty, charming and intelligent. On one lucky day [...]

By | December 18th, 2013|Undue Influence|0 Comments

Trustee Liability for Injuries on Trust Real Property

Recent Trustee Liability Case - This recent case reviews trustee liability over trust real property. Where real property was owned by a trust, trustee could not be held personally liable for injuries suffered on the premises unless trustee was "personally at fault" within the meaning of Probate Code Secs. 18001 and 18002--meaning that trustee must have intentionally or negligently committed a tort. Plaintiff’s claim that defendant breached a nondelegable duty to ensure that property was properly illuminated, and that the [...]

By | October 25th, 2013|Trustee Liability|0 Comments