Articles
Estate Planning for Physicians
Estate Planning for Doctors Estate planning for everyone is important. However, for physicians, estate planning becomes even more important for three reasons: 1) Asset Protection or Liability Protection; 2) Proper Structuring of Your Professional Practice; and 3) Tax Planning for High Wage Earners and Larger Estates. Estate Planning Basics As stated above, estate planning for… Read More »
Do You Need to Update or Amend Your Trust? 6 Reasons to Amend Your Trust
Do You Need to Update or Amend Your Trust? So you’ve been proactive in creating a Trust for you and your loved ones, but is now the time to amend your Trust? Here are 6 reasons to amend your Trust: 1. Your Children Are Now Adults Most people first consider estate planning when they have young children. … Read More »
Tax Reform Basics – The Tax Cuts and Jobs Act
Tax Cuts and Jobs Act If you have turned on the radio or the TV in the past 12 months, you have probably heard about Tax Reform and President Trump’s “Tax Cuts and Jobs Act.” Regardless of your political perspective, the Tax Cuts and Jobs Act is the biggest tax reform in more than… Read More »
What You Need to Know to Keep Your House Out of Probate
What is Probate? Probate is the court supervised process of transferring your assets (e.g. your home) to your heirs upon your death. Why do you want to avoid Probate? Several reasons, but most notably: 1) it is expensive (approximately $30,000 for a $1 million home); 2) it takes between 1-2 years before your heirs… Read More »
Keeping Your Home Address Private Through a Confidential House Trust
Keeping Your Home Address Private As a part of their estate planning, many of our celebrity clients want to keep their home address private for obvious reasons. We are able to do this through a confidential house trust. Many of our clients who are not in the public eye also want anonymity. Why do… Read More »
Do I Need an Estate Plan?
The first question I often get when people learn that I am an estate planning attorney in Orange County is: “Do I need an estate plan? I’m not rich.” The simple answer is yes. Let’s first start with what exactly an estate is, what it is not, and then we can discuss planning. What… Read More »
Estate Planning Without Children
The need for estate planning without children is not always immediately evident. Most people think about estate planning from the perspective of what happens when you die. While this is certainly an issue that needs to be addressed in your estate plan, it is not necessarily the most important issue for you. If you don’t have… Read More »
John L. Wong Featured in California Business Journal: My Way
By Rick Weinberg, California Business Journal Attorney John Wong left one of the country’s biggest and most prestigious Los Angeles estate planning firms to launch his own private practice in Orange County because he knew “there was a better way.” When John Wong was hired by the esteemed estate planning law firm of Hoffman,… Read More »
Estate Planning for Blended Families (Second Marriage)
Estate Planning for Blended Families Estate planning for blended families requires addressing issues specific to the blended family scenario. What is a Blended Family? Generally, in the estate planning world, the term “blended family” is used to describe a family where there is one or more step-children. This can take several forms: 1) Second… Read More »
Trump’s Proposal to Repeal Estate Taxes
President-elect Donald Trump made several promises during his campaign for President. As your estate planning attorney, we have focused on Trump’s promises related to estate tax reform. Based upon Trump’s tax plan, the following are Trump’s proposed changes to the federal estate tax regime during his presidency. Current Estate Tax Regime Currently, a married… Read More »
