July 2020

July 2, 2020 - Family & Business Dynamics - Discovering Unexpected Alternatives; Presented by Carmen Bianchi and Joe Strazzeri, Esq.

Families and family businesses are often faced with relational family and business dynamics as well as legal, financial, and integrated tax issues. Pre-Governance can help families strengthen or restore health in the family by creating alignment, building resilience and skill sets for navigating change and opportunity, and bringing the full-spectrum of integrated planning to the table. By doing so, we can discover unexpected alternatives, a broader array of choices than previously deemed possible, as well as consensus for action. Then, when traditional Family Governance rule sets are later developed, they answer questions like, What can we be passionate about together? or What do we aspire to achieve with our wealth, and why? Join Joe and Carmen as they share decades of experience of both family business conflict counseling and traditional governance and the advisor’s seat at the table.

July 9, 2020 – AB5, What? Employee or Independent Contractor? - Are We Married or Are We Just Dating?; Presented by Alexis Bastedo, Esq. and Amanda Simpson, Paralegal 

Whether we are married (an employee) or dating (an independent contractor) has always been a question that business owners should ask themselves, but on January 1, 2020, when Assembly Bill 5 become a law, California made the independent contractor relationship much harder to prove. While the law mostly targeted rideshare apps like Uber and Lyft, the rules have far reaching consequences that all employers and advisors should know. Alexis and Amanda will discuss the new law and the “ABC Test” to prove that a worker is an independent contractor (not an employee), as well as, the rights of employees and the obligations of employers. It may be time for all business owners to take a second look at their business relationships because of this change in the law.

July 16, 2020 – Raise the Gaze™: Exercises 1 & 2; Presented by Joe Strazzeri, Esq. and Shelley Lightfoot, Executive Director 

To prevail or thrive? Unprecedented in our generational cycle, the infrastructure of our communities has been stripped away. So many of our daily rituals have radically changed. This decrease in structure has the potential to short-circuit the virtuous cycle of leadership to community to leadership.  Our resilience is tested. It doesn’t shrink, it expands. Chaos, it turns out, strengthens our resolve. Joe and Shelley will share how to form Resilience Communities to help entrepreneurs and their teams prevail in uncertain times over three presentations (July 16, Sept 10 & Nov 19) and a total of Six Raise the Gaze™ Exercises.     

July 23, 2020 – Building Blocks to Eliminate the Estate Tax; Presented by Bruce Givner, Esq. and Owen Kaye, Esq.

There are two structures that immediately reduce the estate tax to zero. One is the lifetime transfer tax exclusion, and the other is a private annuity. Both structures can be problematic, for example: Which exclusion should you assume will be in effect at death? Will the parent spend all the money received in annuity payments? Can you meet the exhaustion test? There are other structures that will reduce the estate tax to zero in short order or that generate large discounts such as GRATs, SCIN-GRATs, Family Limited Partnerships, and Generational Split Dollar Life Insurance. Life insurance, of course, is the ultimate tool to pay the estate tax. Join Bruce and Owen as they help us think through how thoughtful, comprehensive planning may allow not only large reductions in the tax, and the means to pay the tax, but also the ability to not file an estate tax return, relieving the heirs of the anguish and expense of an estate tax audit.

July 30, 2020 – Pre-empted for Strazzeri Mancini LLP and Southern California Institute Team Building Event

Every 5th Thursday, the Strazzeri Mancini LLP and Southern California Institute Teams close the offices early to enjoy an afternoon of fun team building activities.

 August 2020

August 6, 2020 – Engaging Physicians – Where Are We Now? Presented by Dr. Vicki Rackner

See how the COVID pandemic has impacted physicians' finances--and your ability to engage them. Join Dr. Rackner to learn the challenges they've had, and are currently still facing, what is really going on in their mind, and how best to help them make informed choices. There are ways to leverage these opportunities TODAY.

August 13, 2020 – Charitable Remainder Trusts; Presented by Sandeep Varma

Join Sandeep to discuss the ins and outs of how Charitable Remainder Trusts work as well as the benefits to your clients, their families and their favorite charities. He will also share how to identify situations where CRT’s may (or may not) be appropriate.

August 20, 2020 – Qualified Opportunity Tax Planning; Updates and Current Opportunities; Presented by Greg Banner, CFP®, CLU®, CRTP

The financial press primarily promotes the idea of investors investing in someone else's Qualified Opportunity Fund often overlooking the possibility and benefits of the client creating their own Qualified Opportunity Fund. Join Greg to understand recent changes, opportunities and new planning strategies that may be beneficial and contribute to asset growth.

August 27, 2020 – 10 Ways Out of Highly Appreciated Property and Getting Off the 1031 Exchange Train Without Having to Die; Presented by Joe Strazzeri, Esq. and Danny Wexler, Esq. 

The sale of real estate is often a very personal decision for families when balancing tax, cash-flow, asset protection, estate, and family concerns/opportunities. Likewise, real estate investors typically understand the rules and concerns surrounding: Swap till you drop 1031’s; Capital Gains and re-captured depreciation avoidance; Assets in ‘B’ and other irrevocable trusts; Assets in entities such as LLC’s and Corporations; and Assets in Family Limited Partnerships. However, these same investors may not be completely aware of the Ten Exit Strategies that may be more appropriate than traditional methods. Join Joe and Danny for a dynamic discussion about how these strategies can help your real estate investor clients.

 SPECIAL LIVE EVENT

September 17, 2020 – SCI Social Distanced Mixer – 10^th Annual Margaritaville

Best Margarita Recipe and Best Mask Contest! Join us as we spread throughout the office, patio, and parking lot to enjoy each other’s company, margaritas, and creative masks. Send us your margarita recipes – we’ll taste them all and choose the top three to serve at the mixer along with some delicious south-of-the-border treats. Can your favorite beat last year’s winner?