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Using Trusts to Protect Assets in a Divorce

Author: Jacob Stein • Tags: asset protection, california, divorce, family, living trust, planning, trust • Posted on: May 21, 2014

Marriage is entered into with optimism and good faith, but it is almost careless not to prepare for the possibility of a marriage breakdown.

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Gift Now!

Author: Jacob Stein • Tags: estate planning, estate tax, family, living trust, tax law • Posted on: Nov 09, 2012

With Democrats retaining control of the White House and of the Senate it is very unlikely that there will be an extension of the current $5 million exemption for transferring assets to children by gift or on death. On January 1, 2013 the exemption drops to $1 million and the tax rate goes up from 35% to 55%. We strongly encourage all of our clients (and all taxpayers) to gift today and take advantage of the $5 million exemption before it disappears. The difference between what you children will get if you plan today, versus putting it off until 2013 is literally in the millions. Gift Now!

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The High Cost of a Corporate Trustee

Author: Jacob Stein • Tags: asset protection, corporate trustee, trust • Posted on: Aug 02, 2011

A corporate trustee is a bank or a licensed trust company that provides trustee services on a professional basis.  A corporate trustee may be as large as the trust department of Bank of America or the Northern Trust Company, or a little organization you have never heard of.  All corporate trustees charge for their services.  Some on a flat fee basis, some as a percentage of assets under management.  How much a trustee will charge depends on what it is required to do under the trust agreement.

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Is Your Living Trust About to Become Obsolete?

Author: Robert Klueger • Tags: estate tax, living trust, tax law • Posted on: Dec 04, 2010

This morning, the Senate rejected a bill that would have extended the Bush-era income tax cuts.  We don’t know how this issue will resolve itself, but tucked into the bill was a provision that will have a profound effect on estate tax law.  What is worse, it may make your living trust obsolete at best, and dangerous at worst.  We think this estate tax provision is likely to find its way into any bill that eventually passes, because both the President and the Republicans favor it.

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HIRE Act Incorporation Foreign Account Reporting Requirements

Author: Jacob Stein • Tags: foreign, tax law, trust • Posted on: Apr 13, 2010

The Hiring Incentives to Restore Employment (HIRE) Act (Pub. L. No. 111-14) was signed into law on March 18, 2010. The Act creates tax breaks for businesses hiring new workers and extending higher expensing limits for small businesses that make capital investments. The Act also incorporates provisions of the Foreign Account Tax Compliance Act of 2009, which has far-reaching implications for foreign financial institutions that may have U.S. clients.

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Latest Video Bob Klueger Estate Tax Law Video Bob Klueger talks about the effects of the new tax law.
Featured Article
RobbReport.com speaks with asset protection specialist Jacob Stein of Klueger & Stein, LLP in Los Angeles about the importance of protecting valuable assets, such as your private residence, rental real estate, investments and retirement plans.