Category Archives: California Business Planning

California business planning is essential for a business owner and yet, it is difficult to be proactive. Really, California estate planning and business planning go hand-in-hand.

Orange County Business Owners – Plan Your Exit Strategy BEFORE You Need It!

Do you have a plan for the day when you decide to retire, or even pass away?  Retirement may not be something you are even thinking about, so in that case you probably answered no. But, what if something happens to you? Do you really want your business to flounder and fail? I thought not.  […]

Working with a Business Planning Lawyer In Orange County to Choose a Business Entity: Part I

With so much information to share on the types of business entities to consider, this post will appear in two parts. The first will look at some of the more commonly recognized entities that business planning lawyers in Orange County to help set up, and the second will delve a bit deeper. Without the help […]

Business Planning Attorneys in Orange County Recommend Living Trusts

Orange County business attorneys see again and again how folks under appreciate just what they can do to protect their businesses through estate planning.  After spending years building a solid business, it should almost go without saying that you want to protect what you’ve created.  One way is to work with a business planning attorney […]

How to Avoid a Basis Management Disaster

Many of us in the legal, financial and accounting worlds discover our new clients’ well-intentioned, yet disastrous, plans after the fact.  The widow has already transferred her house into her children’s names or an inherited IRA is drained to pay for a Porsche.  Observing the lost planning opportunity and the financial fallout is universally gut […]

What to Expect from Estate Planning in Orange County, CA Part III

This is the third in a series of articles on what to expect when you work with your Orange County estate planning lawyer.  Each article will cover several of the topics that you will need to consider to make a plan that works for your needs. In the previous to editions of this series, we […]

Uncovering Charitable Planning Opportunities

Charitable giving is discretionary spending. It is affected by both the economy and the income tax rates. Not surprisingly, charitable giving has been down in recent years, but this does not mean clients are less charitably inclined. Many just need to be pointed in the right direction. With the $5.12 million transfer tax exemption ending […]

Understanding Practice/Business Transition Planning

A large part of many financial service professionals’ practices is helping clients with business succession planning. Yet only 29% of these professionals have created a formal practice transition plan for their own businesses. In this edition of The Wealth Counselor, we will look at some of the steps involved in transition planning for a financial service […]

Why You Might Want Your Newport Beach Business Lawyer to Create Multiple LLCs for Your Properties

As a business lawyer in Newport Beach, I find that it often makes sense to advise clients to create multiple LLCs when they own more than one investment property. While it might seem more convenient to simply set up one LLC for all of your properties, you can maximize your asset protection by putting each […]

OC Business Attorney Talks Estate Planning and Business Succession

Most people hear the words “Estate Planning” and automatically think about wills, trusts, tax issues, and probate.  As an OC business attorney, I can tell you that the reality is that estate planning is about much more than just figuring out how to pass on your hard-earned assets.  We’ve written a lot about the ways […]

Using a Limited Liability Company (LLC) to Transfer a Family Business

Most of us have at least one client who has a family-owned or closely held business that is a major part of their estate, yet they have done nothing to plan for the succession of that business. Business exit/succession planning can be challenging because of the tax issues, family dynamics and egos. But it can […]