Revocable Living Trusts, Part II: Why Set Up a Revocable Living Trust?

Previous Posts in this Series Part I: The Elements of a Revocable Living Trust Revocable living trusts provide numerous benefits for California residents. This estate planning tool, which provides for a faster, less expensive, and more private estate administration, should be considered by every person residing in the state who...

Revocable Living Trusts, Part I: The Elements of a Revocable Living Trust

Revocable living trusts provide multiple benefits for those who utilize them properly – this begins with an understanding of how these trusts work and what they are designed to do. Revocable living trusts, also known as inter-vivos trusts, provide multiple benefits for those who utilize them properly. This includes avoidance...

What Constitutes “Willful” Failure to File An FBAR?

The willful failure to file an FBAR results in higher tax penalties than the nonwillful failure to do so. But how does the IRS determine that your failure to act was “willful”? The U.S. Government’s stringent foreign bank account reporting requirements are accompanied by horribly disproportionate penalties for failure to...