What is a legal trust and why should you consider one if you are a homeowner or are part of a blended family in San Diego? A trust is a common legal tool which allows your assets to pass to your beneficiaries without having to go through the time and...
Estate Planning for Small Business Owners and S Corporations with No Employees
Allen Barron provides tax and estate planning for small business owners and S Corporations without employees as part of our integrated tax, legal, estate planning, accounting and business advisory services. Many small business owners mistakenly believe business succession planning and estate planning is for those with substantial wealth. This is...
Your San Diego Business Succession Plan – “You Make the Plan, or a Plan Will Be Made for You!”
Why should you be thinking about your San Diego business succession plan as the year comes to a close? The National Law Review recently asked a great question: "Who is the better planner for your (business) affairs - You or the State? You Make the Plan, or a Plan Will...
The Step Up Advantage of a Revocable Trust
What is the step up advantage of a revocable trust here in California? How can a revocable trust not only pass money and assets to your beneficiaries but save a substantial amount of tax in the process? The answer lies in an understanding of short term and long term capital...
Haven’t Updated Your Estate Plan in a While – Reasons Not to Wait
The Wall Street Journal recently wrote a warning in case you haven't updated your estate plan in a while and reasons not to wait. We've seen the same scenarios in our decades of services as estate planning, trust and tax attorneys here in San Diego and throughout the Southwest. Usually...
Why is an Estate Plan Important for All San Diegans?
What is estate planning and why is an estate plan important for all San Diegans? The answers in the end are quite simple: time and money. Do you own your home? Do you own a business or an interest in a local company? If so, an estate plan will save...
A Revocable Trust is the Best Option After Reform of Medi-Cal Estate Recovery SB 833
The recent implementation of California SB 833 and the reform of Medi-Cal estate recovery will have a significant impact on estate planning for many Californians. The new law essentially limits the ability of Medi-Cal to pursue the estate of a deceased patient in order to recover costs of their treatment. ...
How Does New Medi-Cal Legislation Change Your Estate Plan?
Governor Jerry Brown recently signed new Medi-Cal legislation SB 833 into law, and it will take effect for those who pass away after January 1, 2017. The new Medi-Cal legislation reduces the State's ability to go after the assets of deceased Californians who required "specific medical assistance" including permanent nursing...
Estate Planning Reduces Taxes and Expenses and Preserves Assets
Have you been considering a will, college funding, protecting your family and answering questions such as who will watch over the children if both parents pass in the same accident? Do you own a home in the San Diego area? If so, you should contact Allen Barron to learn how estate...