As experienced trust and estate planning attorneys we are often asked which is better - a will or trust in Southern California? Simply stated, if you own any real estate whatsoever, or have more than a few thousand dollars in your accounts a revocable trust is almost always the least...
San Diego FBAR Lawyer Helps Foreign Nationals Comply with the IRS
Janathan Allen, our San Diego FBAR lawyer helps foreign nationals comply with the IRS and fulfill offshore financial disclosures. The penalties for US taxpayers including resident foreign nationals are quite high. Ignorance of the law is no excuse before the IRS, so the international tax attorneys at Janathan L. Allen,...
Attorney-Client Privilege is the Best Protection You Have When Dealing with the IRS
Whenever you are dealing with the IRS the Attorney-Client Privilege is the best protection a US taxpayer can employ. The Attorney-Client Privilege protects all information shared in confidence between a taxpayer and their attorney. This extends to all paperwork, notes, personal papers, cell phone calls, emails and even texts. The...
Should You Consider an Irrevocable Trust for Life Insurance
What is the best strategy for handling life insurance proceeds for your heirs and beneficiaries. It is often important to consider an irrevocable trust for life insurance proceeds to prevent your designated beneficiaries from misusing the funds you have planned and worked so hard to provide. An irrevocable trust is usually...
Can Establishing or Reviewing a Family Trust Save You Money?
Can establishing or reviewing a family trust save you money? The bucket full of cash may be understating the matter, as an effective estate plan avoids expensive and time-consuming Probate Court. The financial picture has changed for many spouses and families since they established a family trust or A-B...
The Challenges of Offshore Investment Accounts
US taxpayers must be aware of the challenges of offshore investment accounts as they relate to tax liability and the ramifications of FATCA and compliance with IRS FBAR reporting. The greatest risk to US taxpayers with offshore investment accounts may be the complex accounting and legal distinctions regarding foreign investments...
Responsibility of Amazon and Online Sellers to Indemnify California Prop 65
What is the responsibility of Amazon and online sellers to indemnify California Prop 65 risk for the platforms they wish to sell upon? Proposition 65 (often referred to simply as “Prop 65”) enforcement continues to grow increasingly challenging for those who sell products in online portals. This is especially true...
Starting a new Limited Liability Corporation in San Diego
There is a lot for a new business person to learn when starting a new Limited Liability Corporation in San Diego or Southern California. Getting your start-up business going and becoming profitable is a challenge for any business person. The experienced business advisers and attorneys at Allen Barron provide much...
What Happens if a San Diego Business Doesn’t Comply with the IRS
What happens if a San Diego business doesn’t comply with the IRS and all filing and reporting requirements? Can you face criminal prosecution or be held personally liable if your company makes a mistake with the IRS? Generally speaking, an officer of a corporation may risk personal liability for their...