California Business Planning

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 …

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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 …

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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 …

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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 …

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The Family Business Succession Plan – An Important Piece of the Orange County Estate Planning Puzzle

Do you own a family business? If so, you have plenty of company.  More than 90% of U.S. businesses are family businesses.  Out of the Fortune 500, 150 are family businesses. Now, would you like to hear some really startling statistics? Only 30% of family businesses will survive into the family’s second generation, 12% to …

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Orange County Business Attorney Says, “Ready…Set…File Your Taxes!”

By: Darlynn Morgan, Orange County Business Attorney It’s that time of year again… Time to get all your ducks in a row to report your income to Uncle Sam… When you’re trying to take care of a family and run a business, the last thing you want to think about is getting all the paperwork …

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Newport Beach Business Attorney Asks, “Are Fees Robbing Your 401(k)?”

By Darlynn Morgan, Newport Beach Business Attorney You’re a smart money manager… You’re planning well for retirement… You put the most you possibly can in your retirement accounts, including a 401(k)… Then you get your statement and find that you’re being robbed blind by outrageous fees. And what’s even worse, you were never given access …

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California Business Attorney Discusses Six Money Mistakes Young Parents Make

As a California business attorney, I know it’s hard to go from handling your money as a single person to handling money as a couple… When you add children to the mix, it gets even tougher… Birthday parties, karate lessons, family vacations… All the things we want our children to have can put a pinch …

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Business Lawyer in California Asks, “Could Divorce Wreck Your Business?”

By Darlynn Morgan, Business Lawyer in California Approximately 40% of marriages in America end in divorce… Yet, when we start a business, how many of us really think ahead to what a potential divorce could do to our business? As a business attorney in California, I’ll say that divorce can have many of the same …

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Newport Beach Business Attorney Offers Money Savings Tips for Your Small Business

By: Darlynn Morgan, Newport Beach Business Attorney January is a great time to take a look at how your small business spends money. And as long as you’re looking at how you spend it, you might as well look at how to preserve some. Those small saving steps can add up to serious cash over …

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