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Seminar January 21, 2010
John W. Ambrecht will present, "A Discussion on Family Business Succession Planning" for the CPA Law Society of Santa Barbara County.
See our Seminars page for details.
December 2009 Letter to Friends and Clients
This letter summarizes what the estate, gift and generation-skipping transfer taxes are for 2009 (for comparison), in 2010 and 2011 under present provisions of the federal tax law, and the uncertainties presented for 2010 including possible retroactive legislative enactment and corresponding constitutional challenge.
Then we saved the good news for the end where we outlined some planning opportunities now available for a small window which we think will be the first few months of 2010 (assuming there is no legislation by December 31, 2009).
Click here for the December 2009 Letter.
Worth Magazine has named John W. Ambrecht as one of its Top 100 Attorneys, as published in its December/January 2009 issue.
How does Worth make the selection? "It starts with word of mouth," they write. "In searching for Worth’s Top 100 Attorneys, we first turn to our readers — through notices in the magazine and on our website, Worth.com
— asking for the names of the best lawyers handling their personal needs. We also talk to professionals — financial advisors, accountants, family office executives,
academics — in a position to know which attorneys have the greatest expertise in trusts and estates, philanthropy, family law and so on." Worth's editors then begin
a lengthy vetting process until the 100 are chosen. You can see the full listing on the Worth.com website, or if it is no longer posted there, the list has been cached here.
January and March 2009 Letters to Friends and Clients
There are so many law changes to discuss, plus suggestions and strategies for these tough economic times, not to mention the uncertainty of what the estate tax laws will be after 2009.
Click here for our January 2009 Letter to Friends and Clients.
In response to that letter, we received several questions related to California property taxes and retirement plans in light of the economic downturn and state and federal legislation recently adopted.
The interest was so strong that we thought it worth sending a follow-up letter on these points. Click here for our March 2009 Letter to Friends and Clients.
New book: For Love & Money, Protecting Family & Wealth in Estate and Succession Planning, A New Approach Blending Law and Psychology, co-authored by by John W. Ambrecht, Howard R. Berens, M.D., and Richard Goldwater, M.D., with Tom Gorman. Full edition published 2008; condensed version published 2007.
The book will help you better understand why the family business failure rate is so high by understanding the relationship between the tax and non-tax reasons for such failures. It presents a new "conceptual framework" to use to integrate the tax and the non-tax issues by being able to manage the negative consequences of family dynamics in the family business succession process: The Roles and Rules (TM).
To obtain a copy of the book, contact us or you can obtain online (do a search to see all editions):
John W. Ambrecht is one of the principals and founders of
Families & Wealth, LLC, formed to help families and their advisors to create
succession, estate and family governance plans in the presence of family issues. Such issues pose far greater threats to asset values
than either taxes or financial risks. Addressing these issues can spare families tremendous expense and suffering.
See the Families & Wealth, LLC, website for more information.
We still post our spreadsheets (either .xls or .pdf) showing the different yearly inflation adjustments for estate and gift taxes.
Single Member LLCs initially appeared attractive with the possibility of individuals (or married couples)
obtaining similar liability protection as a corporation affords yet avoiding the double-tax at the corporate level with the
pass-through taxation that a LLC affords. However, there are possible issues on the horizon which we are beginning to see
reflected in some court cases, although a clear body of law has not yet been developed. See article,
"A Single Member LLC May Present Issues for Liability Protection, Bankruptcy, Gift and Estate
Taxes not Present Otherwise with an LLC."
California FTB and BOE have now expressed opinions on the applicability of Delaware series LLCs in California.
See article, "Delaware Series LLC or LP: California's Recognition and Tax Reporting."
This was posted a while ago, but if you have not yet read, "Experiencing the Family Trust," by Marion Murray Dentzel, it is worth looking at! It is an excellent first person account of dealing with trust administration after the death of a spouse (and her husband was an attorney!).
We are also now posting items in the Adobe Acrobat .pdf file format. If you do not yet have your free Adobe Acrobat Reader, you can download it for free from http://www.adobe.com/products/acrobat/readstep.html
For comments about this web site, email green@taxlawsb.com
Photo upper left is view from the top of Figueroa Mtn. over the Santa Ynez Valley, Santa Barbara County, CA. © D. Green, 1997.
This page updated December, 2009.
This page: www.taxlawsb.com/new.htm
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