Eduardo has Left the Building
May 16, 2012
On the eve of the Facebook IPO, the big news is that Eduardo Saverin moved to Singapore and renounced his United States Citizenship in order to reduce the capital gains tax on his shares of the popular social media company. You can read the story at http://e.businessinsider.com/4fad8ad790658cce4aae11b24fad8aa46763d9655400047b/T61FmnSIy4be-fvzAbc9f. He will pay some tax on his unrealized [...]
Taxmageddon
May 2, 2012
“Taxmageddon” is the word being used to describing the massive tax increases on the horizon. Of particular interest to estate planners are the changes to the estate and gift tax and the increase in the capital gains tax. A more detailed discussion can be found by clicking here. Unless Congress and the President act by [...]
Michael Houston Provides Impartial Analysis of San Diego Pension Measure
April 12, 2012
CUMMINS & WHITE AND THE CABRERA FIRM PROVIDE IMPARTIAL CITY ATTORNEY ANALYSIS OF SAN DIEGO PENSION MEASURE Joint Strategy Expands to Include Work in Public Agency and Election Law FOR IMMEDIATE RELEASE…April 12, 2012…NEWPORT BEACH, CALIF….Cummins & White, LLP, a well-known diversified full-service law practice, announced that partner Michael Houston, head of the municipal and [...]
Sibling Rivalries & Trust Administration
April 6, 2012
This week I came upon an interesting article called “Sibling Scorned” in the March issue of Private Wealth. Click “link” to read the article. Basically, it discusses the battles that may ensue between siblings during the trust distribution phase after mom and dad pass away. My thoughts on this are quite simple. When constructing trusts, [...]
Confirmed Chapter 11 Plan Saves Client More Than $1 Million in Real Estate Equity
April 5, 2012
The United States Bankruptcy Court in Santa Ana recently confirmed a Chapter 11 bankruptcy plan of reorganization that saved a Cummins & White client more than $1 million in equity in the client’s home and two investment properties. Jim Hayes, Cummins & White’s partner for bankruptcy and commercial law matters, negotiated the plan over 18 [...]
Succession Planning in Turbulent Times—Operating Companies Need an Operator
April 4, 2012
Fred M. Whitaker, Senior Partner at Cummins & White, LLP. If you have questions related to this article, please contact Fred Whitaker at (949) 852-1800 or fwhitaker@cwlawyers.com. Last month we discussed the traits that mark a successful operator like yourself and identifying them in your potential successor. Integrity is the number one trait that any [...]
Cummins & White Adds Real Estate & Business Litigation Attorneys
New Hires Put Firm at 22 Lawyers; More Growth Expected in 2012 FOR IMMEDIATE RELEASE…April 4, 2012…NEWPORT BEACH, CALIF…. Cummins & White, LLP, a well-known diversified full-service business and insurance law practice, is pleased to announce that attorney Daniel R. Wildish has joined the firm as a partner in the real estate and business litigation [...]
Why You Need an Estate Plan
March 28, 2012
The other day, someone asked me, “What happens to my home when I die?” In other words, “Why do I need an Estate Plan?” This is why. Assuming that the home is not in a trust, this will be the eventual outcome: 1. If you have a will, there will be a probate, and the [...]
Irrevocable: Unable to Change, Reversed or Recovered
March 21, 2012
There is a good article posted about donor’s remorse on WSJ Online called “The Rush to Avoid Gift Taxes.” The article can be found by clicking here and discusses the perils of making gifts to irrevocable trusts. As I’ve said before, the problem with an irrevocable trust is that it is irrevocable. So, once the [...]
Wilson Appointed Legislative Affairs Counsel for Tustin Chamber of Commerce
March 13, 2012
Associate Bethelwel Wilson has been named legislative affairs counsel for the Tustin Chamber of Commerce and will lead its Legislative Action Committee. The chamber, which promotes the civic, cultural, and social well being of Tustin and the surrounding community, recently launched an initiative to build membership and better serve businesses. A key part of this [...]
Cummins & White Adds New Political Clients
February 21, 2012
Will Advise Candidates in Two Hotly Contested Congressional Races FOR IMMEDIATE RELEASE…Feb. 21, 2012…NEWPORT BEACH, CALIF….Cummins & White, LLP, a well-known diversified full-service business and insurance law practice, today announced that partner Michael Houston, head of the political law practice area, will serve as legal counsel and adviser to two candidates running for separate high-profile [...]
Kevin J. Price Joins Cummins & White, Leading the Subrogation Division
February 17, 2012
We are pleased to announce that Kevin Price has joined Cummins & White, LLP, as Senior Counsel in the insurance practice group, leading the subrogation division. His practice will continue to focus on insurance law, specializing in the prosecution of property subrogation actions and providing first party coverage analysis. Kevin has prosecuted and defended cases [...]
Succession Planning in Turbulent Times—Operating Companies Need an Operator
February 15, 2012
Last month we discussed that “Operating Businesses Need an Operator.” Operating businesses—whether you want to sell your business to a third party, your employees, or give it to your heirs—need an operator to have longevity and value you can harvest. If you are the only one who can run it, it won’t last very long [...]
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 [...]
