John M. Goralka
Founder of The Goralka Law Firm, John M. Goralka assists business owners, real estate owners and successful families to achieve their enlightened dreams by better protecting their assets, minimizing income and estate tax and resolving messes and transitions to preserve, protect and enhance their legacy. John is one of few California attorneys certified as a Specialist by the State Bar of California Board of Legal Specialization in both Taxation and Estate Planning, Trust and Probate.
Email: info@goralkalawfirm.com | Website: www.goralkalawfirm.com | Facebook: www.facebook.com/GoralkaLawFirm | Twitter: https://twitter.com/goralkalawfirm | LinkedIn: www.linkedin.com/in/goralkalawfirm/
Latest articles by John M. Goralka
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Cut Your Wealth Transfer Taxes With a Family Limited Partnership
This estate planning tool facilitates tax-efficient wealth transfer, asset protection, legacy preservation and more.
By John M. Goralka Published
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How to Use Your Estate Plan to Save Tax Now: A Timely Update
Consider an upstream basis trust and a general power of appointment for an older family member to reduce capital gains taxes on highly appreciated assets.
By John M. Goralka Published
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Selling Your Business? Personal Goodwill Can Cut Your Taxes
Careful planning around a bundle of rights known as goodwill can result in substantial tax savings when selling a corporation or company.
By John M. Goralka Published
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Are You Ready for the Corporate Transparency Act?
CTA, taking effect on Jan. 1, requires many businesses to file with the Financial Crimes Enforcement Network (FinCEN). Filing requirements and privacy issues are raising eyebrows.
By John M. Goralka Published
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What Is the F Reorganization, and Why Is It So Popular?
This year has seen an uptick in F reorganizations. Let’s explore the advantages and disadvantages for buyers and sellers.
By John M. Goralka Published
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Would You Benefit From a Split Interest Income Trust?
If you have a high income, are selling appreciated assets or won the lottery, a split interest income trust could be a boon to you and a designated charity.
By John M. Goralka Published
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This Halloween, Consider a Phantom Stock Plan
Business owners could use a phantom stock plan to incentivize key employees without having to share control of the company.
By John M. Goralka Published
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A Tax Planning Cautionary Tale: Timing and Formalities Are Critical
A business owner learned the hard way (and at great cost) not to dawdle or cut corners when it comes to tax plans involving the sale of a business.
By John M. Goralka Published
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Business Owners Should Review Their Buy-Sell Agreements
A recent tax case hasn’t gone well for a small business, highlighting the need for businesses using a similar (and typical) succession planning arrangement to take a look at theirs.
By John M. Goralka Published
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Why Are the Notes Found in Aretha Franklin’s Couch a Valid Will?
The late Queen of Soul’s discovered notes had to meet certain Michigan requirements to be considered a valid will. The outcome might have been different in other states.
By John M. Goralka Published
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Lessons to Be Learned from Kevin Costner’s Premarital Agreement
What’s a premarital agreement, how does it work, and what does Costner’s wife, Christine Baumgartner, stand to lose if she challenges theirs?
By John M. Goralka Published
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Comparing Estate Planning: ‘Leave It to Beaver’ vs. ‘Modern Family’
The modern blended family has far more needs when it comes to estate planning than a traditional family. Here are some challenges, tips and solutions.
By John M. Goralka Published
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Five Estate Planning Lessons We Can Learn From Elvis’ Mistakes
Elvis’ estate planning failures certainly adversely affected the life of his daughter, Lisa Marie, and have carried over into issues with her estate.
By John M. Goralka Published
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Prepare for 2026 Estate Planning With SPATs, SLATs and DAPTs
The estate tax exemption is set to drop significantly in 2026, but these alternative tongue-twisting tax-savvy trusts could help.
By John M. Goralka Published
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Family Business Survival Strategies as Tax Landscape Changes
tax planning Let's look at the main provisions of the Inflation Reduction Act of 2022 and the tools family businesses have at their disposal to protect their interests.
By John M. Goralka Last updated
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Is Your Company Ready for the New Partnership Tax Audit Rules?
taxes Unless you take action, you could be facing some unpleasant tax consequences.
By John M. Goralka Last updated
taxes -
How to Use the Legal Cloak of Invisibility to Protect Your Assets
In an increasingly public world where very little info is private, you can protect yourself by employing an anonymous trust or anonymous LLC.
By John M. Goralka Last updated
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How to Use Your Estate Plan to Save on Taxes While You’re Still Alive!
estate planning Upstream basis planning is a trust strategy that can save wealthy people on their capital gains taxes and income taxes associated with highly appreciated assets.
By John M. Goralka Published
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What If Johnny Depp and Amber Heard Had a Premarital Agreement?
Divorce Oh, the gritty details we’re learning from the latest court battle between Johnny Depp and Amber Heard. This unfortunate airing of dirty laundry may have been avoided with a prenup. Should you think about getting one yourself?
By John M. Goralka Published
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Don’t Throw Away a $12.06M Estate Tax Exemption by Accident
estate planning Many married couples fall into the “portability trap.” They fail to file an IRS form after one spouse dies and accidentally forfeit a massive federal estate tax exemption.
By John M. Goralka Published
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This Valentine’s Day – Think … Trust Income Tax Savings!
estate planning Valentine’s Day is synonymous with hearts and flowers, but for those with non-grantor trusts, there’s another symbol that could be associated with it: dollar signs.
By John M. Goralka Published
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What a Beneficiary Controlled Trust Can Do to Protect Your Legacy After You Are Gone
estate planning Life is messy sometimes. Divorce, bankruptcies and lawsuits happen, and they can potentially wipe out the inheritance you’ve carefully set aside for your loved ones. But there are many trust options to help keep life from ruining your legacy.
By John M. Goralka Published
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On National Chocolate Chip Cookie Day, a Lesson in Life from Mrs. Fields
personal finance A humbling moment that we can all relate to put the future cookie queen on her entrepreneurial path. If Mrs. Fields could turn a humiliating foible around to become a success, so can you.
By John M. Goralka Published
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Britney Spears’ Sad Song … Warning: This Could Happen to You
estate planning Being forced into conservatorship and losing all control over your life isn’t something that just happens in movies, like Netflix’s dark drama "I Care a Lot." And it doesn’t just happen to pop stars like Britney Spears. In fact, we all can learn something from Britney’s sad story.
By John M. Goralka Published
estate planning