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

Other Posts in this Series Part I: The Elements of a Revocable Living Trust Part III: Funding Your 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...

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...