The Facebook GRATs

Excitement ran rampant through the financial community with the recent initial public offering (IPO) of Facebook stock where it was offered at $38 a share. Although the biggest IPO in technology stock history is now the subject of several lawsuits with claims that sensitive financial information about Facebook was not properly disclosed to the public,.. read more →

Planning With A GRAT

An effective estate planning method for transferring assets to family members with little to no gift tax consequences may be achieved through the use of a Grantor Retained Annuity Trust (a “GRAT”). What is a GRAT? A GRAT is an irrevocable trust established by a grantor (the creator of the GRAT) in accordance with Internal.. read more →

Giving the Monet to the Museum In Installments

Say that you have an extra Monet or a Warhol hanging around your house and you decide that you would like to donate it to your favorite local museum to share it with the public; but, for sentimental reasons, you do not want to fully part with it at this time. So, you plan to.. read more →

Beware of Artists Bearing Gifts

It is always nice to receive a gift. As my mom told me and my siblings repeatedly when we were growing up, “you should appreciate the gift because it’s the thought that counts, not whether or not you like the actual gift.” However, you should be aware that if you receive a gift of artwork.. read more →

Considerations When Adding Children On Title To Real Estate

Problem.  Bob and Mary Smith are in their 70s. They want their eldest daughter, Darla, to assist them in managing their assets. So, Bob and Mary add Darla as a signatory on all of their bank and brokerage accounts and they add Darla on title (as a co-owner) to all of their real estate holdings. .. read more →

2012 Is A Great Year To Make Gifts

The estate and gift tax law is constantly changing.  In 2012, this law is very favorable for anyone inclined to make gifts to family members or friends.  Generally, any transfer of cash or other assets that you make to another person without consideration during your lifetime is subject to gift tax and the requirement that.. read more →

What happens to lucky lottery winners? Some wind up in court.

Lotto fever recently spread throughout California when the Mega Millions lottery jackpot reached a high of $656 million – the world’s largest jackpot to date.  Unfortunately, no one in California won the big prize.  When we experience high lottery jackpots like this one, I sometimes wonder what happens to the lucky winners after they claim.. read more →