President Trump Announcing Supreme Court Pick
Some Firms Apparently Not Yet Planning for Possibility of Repeal
While it is true that there is uncertainty in tax planning now (there always is) and there is a distinct possibility that the estate tax will be repealed and we should of course urge our clients to update after such a major change, it is not true that we cannot...New Regs re Dead But Not Forgotten IRC 1022
Think I’m noticing a trend here. A few months ago, IRS finally came out in support of using Clayton election for portability planning, after years of silence led to suspicion otherwise, and now years after repeal of 1022, the IRS decides to issue regs...Nice website, fancy suit, SEX? Impressing the Millennial Legal Consumer
Avvo takes a strikingly binary view of a problem that is a lot more complicated than they let on: how to attract millennials as clients. People say I have a nice website, I’ve been ranked by Justia as the No. 6 lawyer in the US in terms of twitter...Trumpian Carryover Basis Regime to Heat Up Life Insurance?
“Estate freeze” is a term that’s so commonly tossed around in the estate planning community that it’s actually become fairly useless shorthand, as it can be used to describe such a wide variety of techniques. However, as discussed by Jeffrey N. Pennell in his...Mad Dog Mattis Sworn in as SecDef
My favorite Mad Dog Mattis quotes: “Be polite, be professional, but have a plan to kill everybody you meet.” “The most important six inches on the battlefield is between your ears.” “No war is over until the enemy says it’s over. We may think it over, we may declare...NRA Board Election Recommendations for Voting Members
[bctt tweet=”Attn NRA Voting Members, Elect #2A #NRA Board: Willes Lee, Lance Olson, Eric Wright, Rod Unkovic” username=”guntrust”] Attention: NRA Voting Members Celebrities do not need your vote. We need NRA Board members who will...Life After the Death Tax
Most agreed the new Republican regime in Washington may get rid of the long-loathed estate tax (this year levied at a top rate of 40 percent on assets above the exemption of just under $11 million for a married couple). Yet, it will almost certainly be replaced...Trump tells business leaders he wants to cut regulations by 75 percent or ‘maybe more’
Trump meets with CEOs and pledges to cut taxes ‘massively’ 11 Hours Ago | 03:13President Donald Trump told business leaders on Monday he believes he can cut regulations by 75 percent or “maybe more.” Source: Trump tells business leaders he...Repeal and Uncertainty Impacts Estate Administration
Good advice in this article, but much of the uncertainty can be removed with thorough, comprehensive planning with an eye toward flexibility. For example, in our planning (http://Protect.LIFE), we offer not only the current flexibility of the Clayton election,...Hush! Jerry Brown Wants to Hike Gas, Vehicle Fees to Bail Out CalPERS
Heh, heh. Let them do it. Bill Clinton famously blamed gun control for losing Congress. Californians are as protective about their cars as Southerners are about their guns. Democrat governors have been regularly spiking gas taxes and vehicle registration fees for...TRUMP WARNED OF JOKER IN PACK OF SUPREME COURT OPTIONS
Trump warned of joker in pack of Supreme Court options The U.S. Supreme Court President-elect Donald Trump has released a list of possible nominees to the U.S. Supreme Court, and with his inauguration just days away, his first nomination to replace the late...Iowa: Right to Keep and Bear Arms Constitutional Amendment Introduced
Forty-four states currently have Right to Keep and Bear Arms constitutional amendments. It’s time for Iowa to join these states by protecting the Second Amendment rights of Iowans in their own constitution! Source: NRA-ILA | Iowa: Right to Keep and Bear Arms...Donald J. Trump on Twitter: “.@CNN is in a total meltdown with their FAKE NEWS because their ratings are tanking since election and their credibility will soon be gone!”
We had a great News Conference at Trump Tower today. A couple of FAKE NEWS organizations were there but the people truly get what's going on— Donald J. Trump (@realDonaldTrump) January 12,...NRA & CRPA Petition for Cert in Peruta
[bctt tweet=”NRA files for Supreme Court review of Peruta #2A case” username=”guntrust”] Petition for writ of certiorari filed today (last possible day). Read all 302 pages here. Then comment below please. Personally, I think open carry has...OCSD Needs Help to Identify South #OC Theft Suspects – YouTube
Orange County Sheriff’s investigators are seeking the public’s help to identify the theft suspects in this video. The male and female suspects have been targeting shoppers in Central and Southern California, including at businesses in Ladera Ranch and Dana...Largest Teacher Network: ‘Teachers need to step up, fight Donald Trump, Brexit reactionary revolution’
Does anyone doubt schools and teachers, collectively, have a marxist agenda? But we’ve become complacent. We’ve forgotten that progressive rebellion is nearly always followed by reactionary counter-revolution. This is where we find ourselves. And this is why...Obama and Clinton Staffers Scramble to Find Work After Trump’s Win
Mira Patel, a long-time Clinton aide, told Politico, “It feels like there are just thousands of us trying to find a job, and there are no jobs.” To add insult to injury, the younger generation of Democratic operatives are still coming to terms with their grief from...NRA-ILA | California: Pre-Litigation Demand Letter sent to DOJ opposing “Bullet Button Assault Weapon” Regulations
The proposed regs, submitted 12/30/2016, can be viewed here. DOJ claims an exemption as a result of specific language in the recently enacted “assault weapon” law regarding the registration process. As enacted, the law requires DOJ to create regulations...NRA Applauds the Introduction of the Hearing Protection Act, H.R. 367
Suppressors are often mischaracterized in Hollywood. They do not “silence” the sound of a firearm. Instead, they act as mufflers and can reduce the noise of a gunshot to hearing safe levels. Not only do suppressors reduce hearing damage for the shooter, they...Land With Longest Stretch of Negative Rates Finds Rich Are Getting Richer Faster – Bloomberg
According to the latest report from the Danish Economic Council, a fiscal policy watchdog made up of academics commonly known as the “wise men,” years of ultra low rates have benefited the rich more than the poor. Source: Land With Longest Stretch...New Congress Goes After DOL Fiduciary Rule
A House Republican introduced a bill that would delay the effective date of the DOL rule by two years. At the same time, a House committee called the rule “reckless” and “misguided.” Source: New Congress Goes After DOL Fiduciary RuleThe 10 Best and Worst Sub-Industries of 2016
Sam Stovall, chief investment strategist at CFRA, states his case. Source: The 10 Best and Worst Sub-Industries of 2016Enemy of the Second Amendment Nominated to be California’s Next Attorney General
On January 10, the state Assembly is scheduled to start confirmation hearings on U. S. Representative Xavier Becerra, who was nominated by Governor Brown on January 1 to be California’s next Attorney General. California’s Attorney General heads the California...Ten Podcasts that Will Give You an Edge in 2017
If you’re looking for a way to stay current and learn about the finer points of investing, sales, and leadership, look no further than these new podcasts. Source: Ten Podcasts that Will Give You an Edge in 2017Impact if Federal Estate Tax Repealed
Practitioners should review options with clients that might include: Outright bequest to surviving spouse, with contingent disclaimer trust, subject to the problems that this approach creates Clayton QTIP approach, subject to the complexity it creates...What Trump Could Do to Your Clients’ Retirement
Caveat emptor: “That’s where the big money is,” said Barbara Roper, director of investor protection for the Consumer Federation of America in Washington, D.C. “And right now there’s a lot of incentive to encourage people to roll over even when they’d be...Wall Street 2017 Forecasts Are Doomed If Trump Doesn’t Follow Through
Who believes anything the financial press says anymore? They have no credibility. Title says forecasts are “doomed” yet the article says strategists are hedging. Well, which is it? It’s funny to watch the money world squirm as it comes to...New California Gun Laws
[bctt tweet=”Quick summary of new California gun laws, and when they take effect” username=”guntrust”] 1/1/17 – it is a crime to falsely report a gun as lost or stolen (e.g., lost overboard) 1/1/17 – generally illegal to loan...Congress could put an end to inherited IRAs for non-spousal beneficiaries
The Senate Committee on Finance voted 26-0 in September to kill the “Stretch IRA” for non-spousal beneficiaries — putting trillions of dollars of legacy wealth in danger of being collected by the tax man.“This is going to be big,” said James Lange, a Squirrel...Obama Scraps Muslim Immigrant Registry, While Gun Owners Pressed to Register
WASHINGTON (AP) – The Obama administration on Thursday officially scrapped the last vestiges of a U.S. registration system for Muslim immigrants. If President-elect Donald Trump now wants to introduce an expanded version of the program, he will have to...SSA Finalizes New Gun Prohibition Rule
Obama’s new rule enlisting Social Security in his gun ban efforts may have an especially dangerous effect in California. Suppose your spouse is prohibited from owning a gun under this new rule. Further, suppose upon discovering the prohibition, you do what you...Obama Releases More Dangerous Convicts
We have been reporting on the president’s unprecedented clemency activity throughout the year (including here, here, and here). The administration claims that it has carefully vetted applicants for clemency to ensure only non-violent offenders were approved. But as...Sacramento Sheriff rolls out new policy speeding up concealed carry apps
The new policies streamline the process for obtaining concealed weapons permits. They require applicants to fill out application forms online instead of visiting the sheriff’s office. New applicants must still come to the sheriff’s office for an interview, but...#FamilyProtection: Happy Bill of Rights Day!
There is good reason to be happy after the election. Happy Bill of Rights Day!Advisors on the Trump Administration
WealthManagement.com polled nearly 350 advisors in the wake of Donald Trump’s victory to seehow they think a Trump presidency will affect their business. Source: Advisors on the Trump Administration#AssetProtection: Senate Republicans May Oppose Trump Tax Cuts
It will be awhile before we know how all this may affect estate tax repeal: President-elect Donald Trump’s race to enact the biggest tax cuts since the 1980s went under a caution flag Monday as Senate Majority Leader Mitch McConnell warned he considers current levels...#AssetProtection: Estate Tax Repeal to Get Big Push in New Congress
I hope it happens, as there is plenty for families to plan for besides taxes. If it does happen, my clients with the latest planning are prepared. Currently, individuals can inherit estates worth up to $5.45 million without being taxed. Estates valued over that...#FamilyProtection: Trump picks Marine General for Homeland Security
Most likely this is great for gun rights. Just about every Marine I know is solidly in favor of widespread citizen carry. Soon we will have a voice at the cabinet level for the viewpoint expressed a few years ago by Interpol’s chief that armed citizens...#FamilyProtection: California Bullet Button Guns Must be Purchased and Received by Dec 31st
Recently the California Department of Justice Bureau of Firearms sent out a notice to California firearms dealers with information regarding the recently passed “assault weapon” legislation, SB 880 and AB 1135. Persons who are wanting to acquire a firearm...#FamilyProtection: Trump picks Mad Dog Mattis for secretary of defense
Mattis is author of a phrase I’ve often heard repeated throughout the carrying community: “Be polite. Be professional. But have a plan to kill everybody you meet.” President-elect Donald Trump said Thursday he has chosen retired Marine Gen. James N....#AssetProtection: Risks and Opportunities for Your Clients Under President-Elect Trump
As always, flexibility is key: Recommend cautious optimism. The elimination of the estate tax in particular is likely to be welcome news to your higher net worth clients, but the proposal may be subject to opposition or compromise in Congress. This compromise could...Cuba’s Fidel Castro, former president, dies aged 90 – BBC News
He probably wanted to go before Trump took office — and died happy knowing that Obama hates the US more than anyone. (I wonder how Fidel’s parents feel — about his horrible legacy being theirs.) Fidel Castro, Cuba’s former president and leader...#FamilyProtection: Kern High School Board Allows CCW (for Staff)
Well, it’s a start anyway. BAKERSFIELD, Calif. (KBAK/KBFX) — The Kern High School District Board of Trustees has voted in favor of allowing employees to bring guns onto campuses. The five-man board approved an amendment to the KHSD gun policy that allows staff...#FamilyProtection: Gun shows to stay at Del Mar Fairgrounds – Del Mar Times
Gun shows still have a future at the Del Mar Fairgrounds.The board of the 22nd District Agricultural Association, which runs the state-owned Del Mar Fairgrounds, discussed the Crossroads of the West Gun Show and heard from both supporters and opponents at the Nov. 15...#FamilyProtection: Thanksgiving Survival Guide
This Thanksgiving as your dolloping butter and gravy all over your turkey, which was killed so that you may eat it, if a liberal family member or friend chimes in with something inane about white privilege, Islam, global warming or how butter is going to kill you,...#AssetProtection: Trumpeting 10 Year-End Tax Strategies Before They Evaporate
In light of Donald Trump’s election and his pre-election platform to reduce marginal income tax rates, there are several planning strategies that should be considered as part of your client’s year-end planning. John O. McManus, founding principal of McManus &...#FamilyProtection: Thanksgiving Message from President-Elect Donald J. Trump – YouTube
This Thanksgiving, you have a lot to talk about with your family: http://Protect.LIFE#AssetProtection: Tax Reform Is On Big Time
The insular planning community (or at least, the insular planning press) didn’t plan very well for Trump, now is playing catchup: The first few days after the election Washingtonians were walking around in a daze. The trajectory of policy and politics...
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