Melanie Balestra, NP, Featured in The January 2012 Journal for Nurse Practitioners
February 2, 2012
Melanie Balestra, NP, is a thought leader in the healthcare and nursing industry and is featured in the January 2012 Journal for Nurse Practitioner’s article regarding her view on the nursing profession and the growing value of nurse practitioners and registered nurses in healthcare. The article highlights the views of talented nurse practitioners pertaining to [...]
Cummins & White Named to Orange County Business Journal’s List of Largest Law Firms in Orange County
January 26, 2012
FOR IMMEDIATE RELEASE…Jan. 26, 2012…NEWPORT BEACH, CALIF.…Cummins & White, LLP, a well-known diversified full-service business and insurance law practice, has been named to the Orange County Business Journal’s 2012 list of the largest law firms in Orange County. Cummins & White made the list, ranking No. 46 with 20 attorneys. Additionally, the firm was recognized [...]
The Problem With Irrevocable Trusts
The problem with irrevocable trusts is that, well, they are irrevocable. Once executed, an irrevocable trust may only be amended on rare occasion, and in most cases, only upon court order. Life happens and sometimes the Trustee is faced with a situation that was not contemplated by the creators of the trust when they signed [...]
Succession Planning in Turbulent Times—Operating Companies Need an Operator
January 19, 2012
If you have a lawyer, a CPA, or a financial planner, you have probably been inundated in the last few months with urgent calls, e-mails, newsletters and the like imploring that you take action. The five million dollar per person ($10mm husband & wife) lifetime exemption is set to expire at the end of this [...]
Hayes Appointed to State Bar’s Non-Profit and Unincorporated Organizations Committee
January 12, 2012
Partner Jim Hayes has been appointed to the State Bar of California’s Association’s Non-Profit and Unincorporated Organizations Committee. He was appointed by the Executive Committee of the Business Law Section and will serve a three-year term. The Committee’s Mission: “The Nonprofit and Unincorporated Organizations Committee reviews and initiates legislative, administrative and judicial developments regarding such [...]
You Can’t Take It With You
January 11, 2012
When you die, you can’t take it with you, but perhaps you can do some good with the assets that you leave behind. This was the topic at the 46th Annual Heckerling Institute Conference presentation called “What Every Estate Planner Needs to Know about Tax-Exempt Organizations and Charitable Gift Planning.” Tax –Exempt Organizations and Charitable [...]
New Laws Affecting California Employers
January 9, 2012
There are several new California laws that went into effect January 1, 2012. These new laws affect individuals and businesses, and range from a child booster seat law to a handgun open carry law to several laws critical to California business owners. For a complete summary of the new California laws, click here. Listed below [...]
Fraud Investigation Contributes To Criminal Convictions For Manslaughter & Arson
Partner Melody Mosley brings a unique perspective to each examination under oath she handles based on her long and broad experience in arson investigations. Below is a brief summary of a recent case where Melody worked with a major personal lines carrier in an insurance fraud investigation following a house fire that killed one person [...]
A Modern Way to Fund a College Education
December 8, 2011
This week I had the pleasure of attending a meeting of the Estate Planning Council of South Orange County. The keynote speaker, Barry P. Levine, a consultant with Northern Trust, gave an interesting presentation titled, “Understanding Social Security Retirement Benefits–What You Don’t Know May Be Hurting Your Clients.” He posed the following question: “A man [...]
Cheers to Tears — Top 10 Ways to Avoid a Potential Lawsuit at Office Parties
December 2, 2011
With the holidays approaching, more than 75% of all companies plan to hold parties to boost office morale, reward employees, break down barriers, and celebrate the end of a year. These celebrations may involve games, dancing, or other types of entertainment. Nearly 60% of the companies plan to serve alcohol at their holiday party, yet [...]
An Income Tax Trifecta — Last Minute Year-End Tax Planning
November 30, 2011
This blog focuses on estate planning, but many times estate planning intersects with income tax planning. Take, for example this week’s post on The Wall Street Journal Online edition titled “There Is Still Time to Cut Your 2011 Income Taxes” found by clicking here. There are many good suggestions. In particular, I like the idea [...]
Refinancing Your Home May Cost You More Than You Think
November 17, 2011
With record low interest rates, homeowners are rushing to refinance their mortgages. With 30-year fixed rates averaging around 4%, who can blame them? Moreover, with many lenders also offering to waive closing costs, it seems like it is just too good to pass up. However, for homeowners that did the right thing by creating an [...]
You Snooze, You Lose…
November 3, 2011
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the “Act”) added a “portability feature” for estates of decedents dying after 2010 and before 2013. This allows a surviving spouse to use the deceased spouse’s unused exclusion amount in addition to their own $5 million exclusion for taxable transfers made during life [...]
Good News!
October 27, 2011
Every once in a while, the federal government gets it right. Cost of Living Adjustments impacting tax rates for 2012 were recently released and most of the adjustments are favorable (see The Wall Street Journal, October 22, 2011 article A Tasty New Cola for 2012). In particular, the estate-tax exclusion per person is increased to [...]
Decisions, Decisions
October 19, 2011
In 2010, the Federal Estate Tax was repealed. Then, it was brought back on December 17th of the same year. Confused? Join the club. The executor of an estate for a person dying in 2010 will have to file an estate tax return after all, but fortunately, they can decide what estate tax law to [...]
Location, Location, Location
October 13, 2011
Location, I am told, is a huge factor in determining the value of real estate. Turns out, location can play a big factor in your estate tax bill as well. Under IRC § 2103, a nonresident, not a citizen of the United States, is subject to estate tax in the United States for property situated [...]
Tom Lamons Named 2012 Super Lawyers List
October 11, 2011
Congratulations to Tom Lamons for being named to the Southern California Super Lawyers 2012. Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The selection process is multi-phased and includes independent research, peer nominations and peer evaluations. [...]
Your Estate Plan Is Not Worth The Paper It Is Printed On……..
October 5, 2011
…Unless someone other than you knows that it exists. I constantly remind my clients to keep their estate planning documents in a safe place, but not too safe. Specifically, your executor and trustee will need to know where the documents are kept and how to gain access to them. Also, they will need to know [...]
Everyone Wants To Go to Heaven – They Just Don’t Want to Die First
September 28, 2011
Asset Protection Nearly all of my clients are interested in “asset protection” in some form or the other. In particular, they are concerned about protecting their home from creditors. Currently, the homestead exemption in California is $75,000 for single persons, $100,000 for married couples, and $175,000 for persons who are 65 years of age or older or that are physically or mentally disabled. Given the [...]
Cummins & White Government Agency Practice Expands With Key Contract
September 24, 2011
In a highly competitive bidding process, the firm was selected by the City of Newport Beach to act as its tideland property lease negotiator. Michael Houston, partner, will lead the Cummins & White team in negotiating and advising the city regarding commercial tideland leases and related coastal development.
