Posts From January, 2011

Carico Johnson Toomey Partners Again Recognized In Southern California Super Lawyers For 2010 LOS ANGELES County

Partners  Christopher D. Carico and Philip A. Toomey have been recognized in 2010 Southern California Super Lawyers as among the top lawyers in employment law and estate planning, respectively.Mr. Toomey was previously recognized in Super Lawyers Magazine in 2006, 2007, 2008 and 2009 in employment law. Mr. Carico was previously recognized in 2009 in estate planning.

Only five percent of the lawyers in Southern California are named in Super Lawyers Magazine. The selections…

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Estate Planning & Required Minimum Distributions

INTRODUCTION

Effective estate planning for retirement benefits requires understanding rules created by the income tax laws mandating minimum distributions from the client’s retirement accounts. These income tax laws are found primarily in Internal Revenue Code 401(a) and Treasury Regulation 1.401(a)(9)-0 through 1.401(a)(9)-9. Proper planning also requires an understanding of the non-probate transfer rules under California law found in Probate Code 5010 through 5032. Finally, it necessitates an appreciation for the variety of estate…

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CPA as Client Trustee: Is the Compensation Worth the Liability?

By Christopher D. Carico

Published: WebCPA, July 28, 2009

The family CPA is often the best choice as successor trustee of the family trust.

As a group, CPAs are highly educated, detail oriented, tax-sensitive and cost conscious. Since a trustee’s duties include preparing an annual accounting, filing yearly tax returns, monitoring trust investments and determining distribution amounts to be given to beneficiaries, CPAs ordinarily possess all the needed skills. While it may make the most…

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