John M. Goralka
Writer at Kiplinger
Estate Planning Attorney, Elder Law & Medi-Cal Attorney, Tax Planning & Tax Litigation, Probate & Trust Law, Asset Protection, Business Planning & Business Law
Articles
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1 month ago |
kiplinger.com | John M. Goralka
Telling the family story is an important part of transferring your legacy to the next generation. The third-generation curse recognizes that very few family businesses survive beyond the third generation, and telling the family story may help break this curse. The first generation sacrifices, risks and works to create the family business, recognizing that, despite their skills and hard work, there is always an element of luck with success.
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2 months ago |
kiplinger.com | John M. Goralka
Sophisticated tax planning involves using trusts and entities to better protect your assets and to minimize estate tax, income tax and taxes on capital gains. This planning often involves the use of irrevocable trusts. Irrevocable trusts are widely used for other types of specialized planning, such as special needs trusts or qualifying for Medicaid or veterans’ benefits. However, this article focuses on planning to minimize taxes on capital gains, ordinary income, estate tax and property tax.
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2 months ago |
kiplinger.com | Adam Shell |John M. Goralka
Did you say my mom mistakenly left $3.5 million to the veterinarian who took care of her favorite feline? Let me get this straight: You’re telling me Dad’s brother took a $500,000 insurance policy meant for me? Dad left his house to his pets’ caretaker and his second home next door to his cats?!These aren’t made-up financial horror stories. These are real-life estate planning nightmares recalled by veteran attorneys who have seen it all.
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Dec 18, 2024 |
kiplinger.com | John M. Goralka
A trust is a powerful estate planning tool, providing for the management and protection of your assets. Trusts come in many flavors or types depending upon the client’s goals and needs. The selection of your trustee or successor trustee will depend upon the type of trust and your goals and objectives. Irrevocable trustsIrrevocable trusts are generally used to attain certain income tax, estate tax or asset protection objectives.
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Dec 9, 2024 |
inkl.com | John M. Goralka
Three generations of a family pose formally in a tongue-in-cheak portait. If you hope to leave money to your descendants — but want a say in how that money is used — a family trust can let you exert control from beyond the grave.
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