Where we can help

Estate Planning

 

Your estate is everything that you own. Your estate plan consists of the tools in place to distribute or manage your property in the event of your incapacity, death, marriage, or divorce. These tools include having an existing document review, a durable power of attorney, advance health care directive, living trust, a will and pour-over will, and a marital property agreement.

Probate is a nasty place to be. Probate is the court process to transfer assets to beneficiaries without a proper estate plan in place. Probate can take a year or longer to address. Fees and court costs associated with probate can range from several thousands of dollars to tens of thousands of dollars. Avoiding probate is crucial.

The world of estate planning is ever changing, and we’re not just talking about tax rates. With regular introduction of new regulations and laws, the opportunity for planning grows, but so does the complexity. We clearly explain and navigate the muddy environment of estate planning law. We help our clients find estate and financial well being.

Business Planning

 

Business owners have many beneficial planning options available that others do not. It also means that they have planning needed for continued business success and may also have unchecked liabilities. Core items for a successful business plan are having an existing document review, a continuity plan, a buy-sell agreement, non-compete agreements and business contracts, and an exit plan; to name a few.

Many business owners assume they are okay with the plan to figure things out when the time comes. This is a sad situation should peril befall because an incapacitated owner without proper planning in place spells disaster for the business. We help our clients secure their business present and future.

Entity Creation

 

Incorporating is a superior way a business owner may protect their personal assets. When incorporated, business owners create a separate legal entity for their business. Owned, operated, and run by you or your appointees, benefits and protections are clear. Common entities are corporations, LLCs, non profits, and partnerships.

An S-Corporation must follow strict guidelines from the IRS. This entity provides the benefits of incorporation and the taxation of a partnership. For example, business profits may be passed directly to the shareholders while avoiding the double taxation effect that takes place under a C-Corporation.

As an added bonus, entity creation may create an environment for significant savings on self-employment tax and additional tax write-offs. We help our clients to select and integrate the entity that best suits their needs.

Asset Protection

 

Asset Protection/Risk Management is the accounting of foreseeable risks and the coordinated efforts to reduce this risk. Defend accurately against the possibility of lawsuits, accidents, and disability. Secure existing assets efficiently and protect their growth ahead. We help protect our clients’ present and future.

A "tax-exempt" entity is a corporation, association, or trust that has applied for and received a determination letter from the Franchise Tax Board stating it is exempt from California taxes.

Although most California laws dealing with tax exemption are patterned after the Internal Revenue Code, obtaining state exemption is a separate process from obtaining federal exemption. Even if you have obtained federal exemption for your organization, you must file with the Franchise Tax Board to obtain state tax exemption. You may apply for state tax exemption prior to obtaining federal tax-exempt status. We help our clients realize their charitable wishes.

Obtaining Tax Exempt Status