March 01, 2016
I get the recurring question from clients from time to time about joint bank accounts with their kids. An elderly mother or father wants to add their child’s name to one or more of their bank accounts. In simple terms, the logic makes sense, as most parents want to assure that their bills, mortgages, insurances or even funerals get paid and that their children have access to their funds to pay for it. Yet most elderly clients and children don’t realize the risk that this small transaction creates.
Your trust is not working for you?
December 08, 2015
This article provides various options in evaluating whether an irrevocable trust that does not fulfill your wishes or fails to provide the needed flexibility for a change in circumstances. There are several remedies that may be available to fix these trusts even if the trust creator has died or did not retain or give a third party the power to modify the trust.
Что нужно учитывать при назначении детям Опекуна и Попечителя?
October 13, 2015
В предыдущих статьях мы рассматривали роль и значение Исполнителя и Попечителя. В этой статье мы обсуждаем роли других установленных представителей, которые необходимы для планирования недвижимости несовершеннолетних детей, такие, как Опекун для несовершеннолетних детей, Попечитель фондов для несовершеннолетних детей и Покровитель преемников.

Appointing Guardians and Trustees for your Minor Children
October 13, 2015
We addressed in previous articles the role and importance of Executor and Trustee. This article will address role of other appointed representatives, who are necessary in the estate planning which involve minor children, such as Guardian for minor children, Trustees who are in charge of the funds left to minor children and Trustee's  successors.
Offshore asset information sharing under Foreign Account Tax Compliance Act (FATCA).
October 06, 2015
International accounts/assets currently need to be disclosed to IRS for compliance with FATCA.  Do you have some property in another country? Perhaps you have some funds at the bank which is not in the US?  If the answer is yes, then this article is a must-read.  Per IRS newsroom website on October 2nd 2015, “IRS announced reaching a key milestone in FATCA implementation. U.S. Begins Reciprocal Automatic Exchange of Tax Information under Intergovernmental Agreements.”1Is your information kept private and confidential during this intercontinental exchange?  IRS sure hopes so and expects this requirement to be met by its partner jurisdictions. 
June 02, 2015
So you have decided to take the plunge and buy a business.  Congratulations on this major and exciting decision!  You may be doing it alone or you may have one or more partners.   You may be using your own funds or using some sort of financing.  Before you actually get into the nitty gritty aspects of taking over and running the actual business, many moving parts have to be considered, organized and addressed. In most cases, the purchase contract or agreement is the operative document that spells out the details of the transaction and the rights and responsibilities of the buyer and the seller. For example, a purchase contract may contain certain contingencies (conditions) that must be met before a transaction will actually be consummated.  These contingencies can include a buyer’s ability to secure financing, a satisfactory period of due diligence (a buyer’s review of the business operations) based on predetermined parameters, among other conditions.  Or, a purchase contract can be an unequivocal obligation on the part of buyer to purchase the business and on the part of seller to sell the business and to consummate the transaction. 
Planning for the Family Vacation Home-Preserving Family Memories and Making Future Plans
July 14, 2014

Family vacation homes are treasures. They are the places where memories are made - the lazy days of summer at the beach house or the fresh mountain air on a winter holiday. But planning for vacation property, fondly associated with rest and relaxation, can be a challenge. Successful planning requires thoughtful consideration of the interests of all of the family members involved and a careful assessment of the logistics of the long-term shared family use of the property.

Семейная дача. Как сохранить семейные воспоминания и построить планы на будущее
July 14, 2014

Дача (загородный дом) представляет огромную ценность для семьи. Он является местом, где живут воспоминания о приятных  днях летнего отпуска, проведенного в пляжном домике или на свежем горном воздухе во время зимних праздников. Но принятие решения о том, как поступить с домом, связанным с воспоминаниями о счастливых днях, может стать совсем не простым делом. Успешное планирование требует вдумчивого рассмотрения интересов всех членов семьи и тщательной оценки обеспечения долгосрочного совместного использования семейного имущества.

March 23, 2014

Довольно широко распространена практика предоставления взаймы денег как в деловых, так и в личных отношениях. При этом, обе стороны должны разумно отнестись к вопросу оформления такого типа сделки по ряду причин. Условия займа должны быть точно и полностью разъяснены в письменной форме во избежании последующих недопониманий между сторонами. 

March 23, 2014

It is quite common for parties to lend money to each other in a business as well as a personal context.  It is a prudent practice for both sides to properly document this type of transaction for many reasons.  The terms of the loan should be accurately and completely spelled out in written form so that there is no miscommunication between the parties. 

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