KJMLAW Partners was featured in Pasadena Outlook’s latest edition. The firm recently celebrated their 30 year anniversary and the local paper highlighted the celebration. The anniversary party launched a rebrand and company name change. Previously Kevin J. Moore & Associates now KJMLAW Partners, is ready for the next 30 years with new attorneys and a new additional Shareholder, Debby Doitch.
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California’s recently passed Prop 19, is increasing residential property taxes. Please register for Kevin J. Moore’s Zoom webinar here: https://zoom.us/webinar/register/WN_nHIl8caRQHCAFZx0pb9PfQ to learn more about this and what you can do to properly prepare. The Zoom webinar will be conducted on Wednesday, December 9, 2020 from 2:00pm-3:00pm PST.
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Trust Revocation In California and Naming of New Trust Beneficiaries Most trusts are revocable, and it is not uncommon for those who establish a trust (known as settlors) to revoke that trust and replace it with another, naming different beneficiaries. That is what happened in a trust revocation case in CA that became the subject of an appellate court opinion published in July 2020. Cundall v Mitchell-Clyde: Trust Revocation The […]
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Kevin J. Moore was recently quoted in MSN.com article “10 steps you can take right now to reduce your tax bill”. One of the ways you may reduce your tax liability is through tax-loss harvesting. Tax-loss harvesting is the selling of assets, such as stocks at a loss, in order to offset gains realized on other assets or stocks. In the article, Mr. Moore explains the importance of tax-loss harvesting […]
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When someone has changed a will or trust just a few years before they pass away, this can lead to an accusation that someone has used a position of confidence or authority in order to take unfair advantage. Undue influence is the legal term used to describe this situation. Undue influence often arises with a husband and wife who have been married for several decades, built a family, own a […]
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The Supreme Court ruled in North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust that a state does not have the authority to tax a trust’s undistributed income solely because the beneficiary resides in that state. This case potentially had far reaching implications if the unanimous decision was ruled in favor of North Carolina. States often seek new avenues of revenue through taxation but The Kimberley Rice […]
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Ceo Blog Nation’s 21 Entrepreneurs Share Their Best Marketing Tips list includes Kevin J Moore’s top tip. Marketing is the key to a successful business and there are a number of ways to effectively market your ideas. Read more: https://rescue.ceoblognation.com/2019/05/31/entrepreneurs-share-their-best-marketing-tips-2/
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Kevin J. Moore was recently quoted in LAist.com article “Why LAUSD’s Measure EE to Fund Schools is on Shaky Legal Ground.” Mr. Moore has handled property tax cases for about 15 years and discussed property tax issues related to the language within the measure. To read full article visit: https://bit.ly/2Q6Kkut
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In September of 2018, the California Legislature enacted the Uniform Trust Decanting Act. Decanting is defined as the ability of someone to distribute property from an irrevocable trust (“the first trust”) to one or more second trusts or to modify the terms of the first trust without the consent of the beneficiaries of the first trust or approval of the court. California’s new decanting statute is highly technical, replete with […]
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We regularly litigate cases involving allegations that family members or other caregivers convinced an elder with dementia to change their will or trust in order to cut someone out or get a bigger share for themselves. A will or trust that has been changed can, however, often be reversed and assets can be recovered if you can show that the person should not have been allowed to make those changes. […]
Read MoreA new California law requires active attorneys licensed in California to be re-fingerprinted. Today, the KJMLAW Partners Firm brought in American Fingerprinting Live Scan to help our entire building get fingerprinting completed before the April 30, 2019 deadline. For more information on Fingerprinting Rule Requirements visit : http://www.calbar.ca.gov/Attorneys/Attorney-Regulation/Fingerprinting-Rule-Requirements
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The recent passage of the Tax Cuts and Jobs Act (TCJA) increased interest in C Corporations. The Act permanently reduced the federal income tax rate on C Corporations from 35% to 21%. The widespread media coverage has led company founders, shareholders, and investors to ask whether they would benefit from being a C Corporation. There is another less publicized provision of the IRS Code that may also benefit shareholders of […]
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Costs of Ignoring Legalities Related to Your Business Disregard for legalities can lead to unnecessary expenses. Too often small business owners make professional agreements with a simple handshake, placing their trust in a friend or acquaintance because they believe it’s easier, quicker, and cheaper than consulting an attorney. Whether you run a regional chain of restaurants, a professional consulting firm or simply rent out a residential property, it pays to […]
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Whether you have funds in an offshore account, generate foreign business revenue, or invest outside of the United States, your activities are likely to require special care and handling to stay in compliance with Internal Revenue Service regulations. If you have control of foreign income and you aren’t readily familiar with the acronyms FBAR, FACTA, OVDP, and SFCP, it’s time to seek professional assistance. While your immediate impulse may be […]
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Estate and tax planning — it’s a subject many people like to avoid. That’s often because they think that estate planning is about two topics they’d rather not focus on: death and taxes. For some people, estate and tax planning is about something even more ominous: death, taxes and math. There is, however, another way to look at estate and tax planning. Beyond the details it’s about doing something that […]
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Creating a living trust is one of the most effective ways to set up the smooth transfer of assets from one generation to another, avoid the time and cost of the probate administration process, and eliminate or reduce certain tax burdens. Setting up a living trust, however, doesn’t avoid the process of trust administration. What is Trust Administration? But what exactly is trust administration? Broadly speaking, it’s the process by which the […]
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One of the most responsible and loving gifts a parent or spouse can provide is an estate plan that clearly articulates the distribution of assets after their death. A solid estate plan can eliminate the probate process, protect wealth, minimize or eliminate taxes, and deliver financial security for generations to come. The wishes of the deceased are assessed, addressed through estate planning, often utilizing trusts. Without a plan, all assets and debts must […]
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Many of my clients have accumulated substantial assets in an IRA. It is commonly, along with their real estate holdings, one of the largest assets they have in their estate. There are, however, certain issues that arise when the owner of the IRA passes away. Most notably, the assets in an IRA do not pass through a living trust. They pass to the beneficiaries pursuant to the terms of the […]
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In 2012, foreign nationals conducted about 17 percent of real estate transactions in California. They may have engaged the professional assistance of real estate agents and brokers to streamline the purchase process but without thoughtful attention to legal details around international tax planning strategies, they may be putting their U.S. assets at risk of significant gift and estate tax consequences – often to the tune of 40% of the property […]
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As a property owner or investor, you know the drill: the tax assessor establishes the value of any property you own at the time of purchase and you are responsible for the taxes based on that assessment. Your property tax rate may go up annually – but not by more than 2% a year thanks to Proposition 13. But what happens when you pass your property on as part of […]
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