Our regularly updated blog discusses a variety of issues related to business, tax, and estate planning in California. Learn why an estate plan is necessary regardless of age or income, what steps you can take to reduce your tax liability and protect your assets, how to ensure your business remains on a solid legal foundation, and much more.
- Page 17
-
Congratulations to John for Making the 2016 Northern California Super Lawyers List!John Goralka Selected as 2016 Northern California Super Lawyer John Goralka has been selected for inclusion on the 2016 Northern California Super Lawyers list for his work in estate planning and probate, tax, and business. This marks John’s first year on the list. Super Lawyers is a rating service of...
-
In the News: John Explains Estate Planning for an Aging PopulationAre You Financially Prepared for Retirement? In Penton’s Wealth Management’s July e-newsletter, John Goralka discusses the obstacles that come with a long lifespan in his article “Estate Planning for an Aging Population.” As Americans are living longer, it’s essential to financially prepare for retirement. Individuals who fail to plan accordingly...
-
In The News: John Explains 3 Key Takeaways from Prince's Estate-Planning MistakesPrince may have sung that "Money Don't Matter 2 Night," but it's clear that the $300 million estate he left behind matters quite a bit. Since Prince didn't plan his estate, his family and loved ones are stuck with the headache of probate proceedings. Between the current federal estate tax...
-
In the News: Identifying the Key Values to Include in a LegacyEstate plans don’t have to be limited to money and assets—they can also include core values and beliefs that individuals wish to pass on to their heirs. In order to leave a “value legacy” that promotes a family’s values, the first step is to identify exactly what these values are....
-
In the News: John Explains How B Trusts Can Be a Ticking Time BombWhy B Trusts Can Be a Ticking Time Bomb Bypass trusts, also known as B trusts, are often used as a strategy to avoid estate tax. But because of recent changes in income tax and estate tax rates, families with B trusts should review their situation to ensure they’re not...
-
In the News: John Explains How Retirement Inheritance Trusts Can Be a More Tax-Efficient Way to Pass on Retirement FundsPutting the Trust in Trusts Planning for retirement is one of the most common and daunting personal finance concerns for families. Parents want to ensure that their children are taken care of, but inherited IRAs can represent a significant tax burden. IRA minimum distributions can be "stretched out" over the...
-
In the News: The “Value Legacy” You Plan on Leaving to Your HeirsTo preserve and convey one’s value legacy, estate planning goes beyond money and even asset protection. For an estate to be truly effective and do more than just simply move money and assets from one generation to the next, it must accomplish three basic goals. In order to leave heirs...
-
John Goralka Discusses California's Right-to-Die Law in The 'American Journal of Managed Care'On October 5, 2015, California Governor Jerry Brown signed the bill for the End of Life Option Act, which authorizes an adult who meets certain qualifications, and who has been determined by his or her attending physician to be suffering from a terminal disease, to make a request for a...
-
In the News: How to Protect Inherited Retirement AssetsJohn Goralka Talks with ThinkAdvisor on Protecting Inherited Retirement Assets When planning for retirement, an individual may face the dilemma of deciding what to do if they have leftover retirement assets when they die. Many designate a beneficiary, like a child or a grandchild, to inherit the retirement account. During...
-
Are Rental Properties the Next Big Investment Opportunity?Owning a house with a white picket fence is a quintessential part of the American dream. But an increasing number of Americans are deciding that renting a home is a better fit for their families than buying one. "Over the next 15 years, new renters will outnumber new homeowners —...
-
What You Need to Know Before Making Year-End Charitable ContributionsIt's a critical time of year for the not-for-profit sector. Historically, a significant amount of charitable donations occur in the last weeks, days and even hours of the year. In fact, many charities are using "Giving Tuesday" on December 1, 2015, as a catchy way to launch their year-end fundraising...
-
Tax Advice for Military Families and VeteransMembers of the U.S. Armed Forces and veterans are required to pay taxes on their income like everyone else. But special rules sometimes apply. Here's an overview of key tax benefits that the IRS provides to military personnel to thank them for risking their lives for our country. Combat Zone...