Tips for a Successful Family Business Succession

Fewer than one-third of family businesses survive into the second generation, while only 13 percent make it to the third generation. Here are some tips to beat the odds and help your business live on for generations to come. The sooner you start the planning process the better The sooner you start planning for succession,… Read More »

Estate Planning for Second Marriages

Second marriages can present unique challenges when it comes to estate planning, particularly if you or your new spouse have children from previous marriages. Let’s take a look at some of the factors, tools, and strategies to consider when planning for a second marriage. Prenuptial Agreements You’ve been married before, so you’re a little bit… Read More »

Newport Beach Office – Open For Business

We are pleased to announce that effective May 6, 2020, our Newport Beach office is Open For Business as usual, with all safety procedures in place! The Newport Beach office hours are 8:30 a.m. to 5:00 p.m., Mon-Fri., and Suite 1100 will be fully operational during those hours. The conference rooms are available for personal… Read More »

The Most Important Legal Tool for Small Business Owners During the Crisis

The most valuable tool for small business owners right now is a “business specific” Durable Power of Attorney (DPOA). General DPOAs are commonly found in most well-crafted estate plans. However, in our experience, a small business owner may have more specific issues that need to be addressed in their DPOA due to their unique needs…. Read More »

What You Should Know about the SECURE Act

New legislation signed into law is bringing some of the biggest changes to retirement planning in years. The Setting Every Community Up for Retirement (or SECURE) Act became effective on January 1, and it could certainly affect many of you who are retirement savers, for better or worse. A recent Forbes article highlighted several considerable… Read More »

Ruling from the Grave

I just read a recent Wall Street Journal article titled, “Trying to Control Your Heir’s Behavior from the Grave Often Backfires.” It was a short read, but it raised a number of issues for me. Here are some of my thoughts: Powder keg of emotions I think the article misses a major point. Most of… Read More »

Grantor-Retained Annuity Trust Works Well With Stocks

This article is Part of a series exploring the various types of trusts that may benefit you. Today’s topic is Grantor-Retained Annuity Trusts (GRAT). Do you own stock, especially stock in a start-up company? If so, a Grantor-Retained Annuity Trust might be right for you. The GRAT is an irrevocable trust that transfers wealth without… Read More »

Helping You Avoid a Big Life Insurance Mistake

We’re focusing this article on one of the most common and chronic mistakes that estate planning attorneys are asked to fix after someone passes away. To avoid this mistake, we encourage insurance agents and advisors not to allow a client to name the probate estate as the primary beneficiary of a life insurance policy. We… Read More »