Underestimating Exposure to Estate Taxation Often people do not believe they are worth enough to be subject to Federal Estate Taxation. If your estate is larger than $1,000,000, the estate tax begins at 41 percent! It is common to hear a person undervalue real estate, especially in this portion of the country (Bergen and Passaic counties in New… Read More »
Based on California Law Our office is commonly asked whether a contractor who files an action to foreclose on a mechanic’s lien can recover his attorneys fees against the owner of the property if he prevails at trial. There is a distinction in the type of cases where a contractor seeks to foreclose on a mechanic’s lien. Where… Read More »
Your fiduciary is an integral part of your estate plan. Who should you appoint to coordinate your affairs upon incapacity or death? Consider these questions when making the selection: What are the responsibilities of my fiduciary? The fiduciary you select should be capable of handling the responsibilities of the appointed role. Personal Representatives and Trustees are charged with… Read More »
Enforcing Trademark Rights Online Through The ICANN Domain Name Dispute Resolution Policy & The Anticybersquatting Consumer Protection Act[1] Henry J. Fasthoff, IV[2] May 2000 I. Introduction[3] The hottest commodity in Cyberspace is the domain name. Between 1996 and 1999, the number of domain names registered in the United States exploded from 1 million to more than 6 million.[4]… Read More »
Let’s face it, we all hate to pay taxes. Filing our tax returns is often painful and time-consuming, not to mention expensive. Unfortunately, many people encounter some type of tax problem during their lifetime. Whether it is failing to file their taxes on time, not having the money to pay taxes that are owed, or failing to file… Read More »
Article written based on California Law As small business owners are well aware, we live in a time where anyone who feels that they have been wronged files a lawsuit. Now, more than ever, it is important that small businesses examine their options to determine the correct type of business entity in which to operate. Choosing the right… Read More »
I have had many business clients come to me after a former client or employee has sued them. Their question always seems to be, “How could I have avoided this lawsuit”? I have also had many inquiries from individuals who want to know if they can sue a business for incidents that range from defective products to rudeness.… Read More »
An Overview The Qualified Personal Residence Trust (often referred to by its acronym, “QPRT”) can be an effective estate planning technique for a high net worth individual. The concept is simple: the owner of a personal residence transfers it to a trust, but retains the right to live in the residence for a specified period of years. At… Read More »
A charitable remainder trust (CRT) funded during the grantor’s lifetime can be a very effective financial planning took, providing the grantor valuable lifetime benefits. Take the case of 72 year-old Phillip Philanthropist who has $1,000,000 of highly appreciated tech stock. Phillip has charitable inclinations, but is worried about the rising cost of health care. He feels he cannot… Read More »
An Overview Dynasty Trusts are specialized irrevocable trusts designed to shelter assets from transfer taxes over multiple generations, while at the same time allowing your heirs to enjoy the fruits of those assets. Typically, after estate taxes and other settlement costs are paid, most people leave the bulk of their estate outright to their children. The children then… Read More »