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Monday, November 21, 2016

When it Comes to Estate Planning in San Bernardino, You Get What You Pay For


When it Comes to Estate Planning in San Bernardino, You Get What You Pay For

 

You have probably seen so-called “standard” (a.k.a cheap) living trusts advertised all over the San Bernardino area.  Seminars, direct mail, and telemarketing are all common marketing techniques for the companies that sell “Do-It-Yourself” legal plans.

 

But, buyer beware! These one-size-fits-all estate plans are NOT created to deal with your unique situation or handle your unique assets.
Read more . . .


Thursday, November 10, 2016

Are you Really Prepeared to Start Your Medical Career?


Physicians: Don’t Forget This Critical Step When Beginning Your Medical Career!

After years of school and clinical training, you are now ready to begin your medical career.

Or, are you?

You are most likely dealing with a lot of concerns at the moment such as work-life balance and unforgiving student loans.  One thing you are likely not adequately planning for is the possibility of getting sued. 

According to the American Medical Association, 61% of physicians surveyed had been sued at some point in their career. That’s more than half.
Read more . . .


Tuesday, November 8, 2016

Adding Disability Insurance to Your Estate Planning in Ontario


Adding Disability Insurance to Your Estate Planning in Ontario

Estate planning lawyers in Ontario are typically tasked with the job of helping clients determine what to do with their assets after death.  There are other important aspects to estate planning, however, and one that can be overlooked is the need for disability insurance.  Those who are in good health and looking forward to retirement in the next decade or so often do not see the wisdom in their estate planning lawyer’s recommendation for disability insurance.

Peak Earning

Keep in mind, though, that when you are in your 50s and 60s, you are likely at your peak earning point.  You have probably worked your way up and are far beyond the entry-level position you were so excited to get when you started your career.
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Thursday, September 15, 2016

5 Strategies to Proctect What You Own


 

Ontario Asset Protection Lawyer: 5 Best Strategies to Protect Everything You Own and Love

  It is an unfortunate fact of life that lawsuits are generally brought against those who have “deep pockets.” Litigators don’t want to go through the time and cost of a drawn-out trial if there is no money to be made; hence, large lawsuits are typically only filed against those individuals who have a significant amount of money out in the open. The following are five of the best strategies that Ontario asset protection lawyers use to shield their clients from lawsuits.

Create an Asset Protection Trust


  Ontario asset protection attorneys often advise their clients about creating an asset protection trust as a means to shield their assets from divorce, bankruptcy, the government, and litigation. Transferring ownership of your assets to an irrevocable trust can protect you from many of these dangers, however asset protection trusts may actually cause you to have less control over your assets.
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Tuesday, August 30, 2016

Why do I need a Living Trust?


Business Planning Attorneys in California Recommend Living Trusts

  California business attorneys see again and again how folks underappreciate just what they can do to protect their businesses through estate planning.  After spending years building a solid business, it should almost go without saying that you want to protect what you’ve created.  One way is to work with a business planning attorney to create a living trust.

  A living trust gives you the ability to legally transfer your business or shares of it when the time comes.  One advantage that is not to be overlooked here is the fact that the assets in the living trust won’t be subjected to the probate process.
Read more . . .


Tuesday, August 23, 2016

Is it Time to Update Your Estate Plan?


7 Signs that It’s Time to Update Your Estate Plan

  So, you and your Ontario estate planning lawyer have put together a great plan for you.  Congratulations!  You are ahead of the majority of the population already.  Keep in mind, however, that even though the hard part is done, there is some maintenance that you and your attorney will want to do from time to time.  Your life and circumstances will likely change over the years, and you’ll want your estate plan to change accordingly.

  Some of the changes that should precipitate a call to your Ontario estate planning lawyer are fairly obvious, but they can still be overlooked.
Read more . . .


Tuesday, August 16, 2016

Choosing a Business Entity: Part II


Working with a Business Planning Lawyer to Choose a Business Entity: Part II

A previous post looked at some of the most common business entities that an Ontario business planning lawyer will recommend for clients. From the simplicity of a sole proprietorship to the complexity of an S corporation, that piece shared some advantages and disadvantages of each entity when it comes to implementation, accountability, and taxation.

With so much at stake, it’s a good idea to familiarize yourself with all of the choices for setting up your business the right way. Most of the information in these two articles applies to Federal aspects of business ownership, as states have their own requirements. That’s just another reason to work with a qualified Ontario business planning lawyer, as he or she will be able to outline specific state laws and regulations that apply to your situation.


Read more . . .


Tuesday, July 26, 2016

How do I Choose a Business Entity?


Working with a Business Planning Lawyer in Ontario to Choose a Business Entity: Part I

With so much information to share on the types of business entities to consider, this post will appear in two parts. The first will look at some of the more commonly recognized entities that business planning lawyers in Ontario help to set up, and the second will delve a bit deeper.

Without the help of an Ontario business planning lawyer’s input, would you be able to list all of the business entity options available for entrepreneurs? Once you’ve considered that question, ask yourself if you really know which one is right for your business. Chances are pretty good that you answered “no” to one or both of these questions. Choosing the best entity may not be the most glamorous aspect of going into business, but it’s one that can have a significant impact on your success, as well as your stress level.


Read more . . .


Tuesday, January 5, 2016

The Future of the Federal Estate Tax

Chino & Chino Hills Estate Tax Attorney: The Future of the Federal Estate Tax

The IRS just announced the 2016 federal estate tax rate limits, which are $5.45 million for individuals and $10.9 million for married couples. This means that wealthy Americans will be able to leave up to $10.9 million to their heirs without being subject to federal estate tax rates, which top out at 40%. In addition, the federal gift tax exemption will remain at $14,000, meaning gifts made up to that amount will not be taxed by the federal government.

While these estate tax rates have stayed fairly consistent over the past few years, Chino & Chino Hills estate tax attorneys have recently been asked by their clients how they think the 2016 Presidential election may affect the federal tax limits. By and large, the answer all depends on who gets elected to the White House, as the political parties and presidential candidates have differing views on what should be done with the estate tax.

The Democratic candidates, through proposals and past actions, are against lowering estate tax limits. Hillary Clinton has a track record of voting against raising the federal gift tax exemptions – in 2006 she voted against raising the exemption to $5 million, and in 2007 she voted against repealing “death taxes.” While she has no specific proposal in place for changing the federal estate tax exemptions, her voting record gives some insight into which direction she may go if elected President. Bernie Sanders, on the other hand, actually does have a proposal in place for what he calls a “Responsible” estate tax, which includes a $3.65 million limit and a 65% top estate tax rate.

The Republican field, by and large, are in favor of either lowering the estate tax limits or abolishing the estate tax altogether. Front runner Donald Trump, along with Jeb Bush, Rand Paul, Marco Rubio, and Mike Huckabee, have all proposed either eliminating the federal estate tax or letting individual states decide whether or not they want to collect estate taxes. John Kasich and Carly Fiorina have not put forth any specific proposals for how they would approach the estate tax, but Kasich eliminated the estate tax in Ohio during his time as governor.

No matter who is elected President, it’s important to note that he or she does not actually have the power to eliminate the estate tax, since Congress is the branch of government that controls taxes. This past year, the Republican controlled House of Representatives voted overwhelmingly to repeal the estate tax, while the Senate may vote on its own repeal bill next year. That being said, whoever is elected President will have the ability to either veto or sign into law whatever changes are made by Congress to the federal estate tax.

No matter who wins the 2016 election, <insert county> estate tax attorneys are expecting big changes to come to the federal estate tax limits. If you have any questions about how the federal estate tax exemptions can affect you, or if you qualify for an exemption from state estate taxes, please contact us at 909 590-9545909 590-9545 to set up a consultation.


Sunday, August 23, 2015

Business Lawyers & Estate Planning

Business Planning Attorneys in Recommend Living Trusts

Business attorneys see again and again how folks under appreciate just what they can do to protect their businesses through estate planning.  After spending years building a solid business, it should almost go without saying that you want to protect what you’ve created.  One way is to work with a business planning attorney to create a living trust.

A living trust gives you the ability to legally transfer your business or shares of it when the time comes.  One advantage that is not to be overlooked here is the fact that the assets in the living trust won’t be subjected to the probate process.  This allows for a much smoother transition—one in which you have a significant say.  Of course, taking this step with your business attorney now can also save a whole lot of money that would have been spent in that probate process, too.

A lot of business owners also find that avoiding probate is good for the health of their company for non-financial reasons.  When a business or estate goes through probate, the information that comes out of the situation is made public.  This can be damaging to a business, whether through reputation or the sharing of information that should be held in confidentiality. 

The living trust is something that can be used not only in the event of your death, but also if you happen to become incapacitated by illness or injury.  Because you’re the one setting the trust up, you have the opportunity to set out the parameters for it, within legal bounds.  In a best-case-scenario, you will already have a succession plan in place and will have prepared that person for the job.  Unfortunately, things like this don’t always follow the best case scenario, which is why your business attorney will probably encourage you to share the pertinent details of the trust with your successor.

In consulting a business attorney during this process, you can put yourself, your business, and your heirs in the best possible position.  The lawyer will be able to ensure that the terms of the trust are in synch, not only with California law, but also with any legal obligations that are a part of your organization’s policies and procedures.  Putting the trust together well in advance of a catastrophic event and under the direction of your lawyer also helps to strengthen it so that your wishes will be followed.

You’ve worked really hard to create a successful enterprise, and you likely hope it will endure without you.  Asking your local business attorney to help set up a living trust is an excellent way to do exactly that!


Sunday, March 14, 2010

A Client Made My Day and I Made Her Day

Today is Saturday a day when I am generally not in the office and when I am there I don't answer the phone. However, today I was in the office and answered the phone. A small business owner client called who is on my annual Business Advantage & Protection Plan, (BAPP).

She had a question about a troubling employee. I answered her question in about 15 minutes and proceeded to say goodby. It was at that point that my client made my day.

She thanked me and thanked me over again. Not only for being available but for the advice. She thanked me for the peace of mind of knowing she can call and not receive a bill for every little question. Clients on the BAPP not only receive their minutes updated annually, I remain their agent for service of process, but they can call with their questions during the year.

This is being a lawyer at it's best. Helping someone at that crucial time and giving them peace of mind.


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Brock, Robinson & Associates assists clients with Estate Planning, Wills, Trusts, Special Needs Planning, Pet Trusts, Probate & Estate Administration, and Family Business Preservation in Chino, California as well as Chino Hills, Inland Empire, Pomona, Rancho Cucamonga, Ontario, Montclair, Diamond Bar, West Covina, Covina, Glendora, San Dimas, La Verne, Claremont Fontana, Riverside, Colton, Corona, San Bernardino, Redlands, Orange, Brea, Yorba Linda, Fullerton, Hacienda Heights, Eastvale, Norco, Mira Loma, Alta Loma, Upland, Rialto, Highland, Loma Linda and Grand Terrace in San Bernardino County, Los Angeles County and Orange County.



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