2022 update: $15,000 per year in 2021 and $16,000 per year in 2022 A: The short answer is NO: you almost certainly will NOT have to pay any gift taxes. Remember, under current law, you can make $11.58 million dollars’ worth of gifts in your lifetime without incurring...
Month: October 2020
Celebrity Estate Planning Mistakes
The third week of October has been designated by Congress as National Estate Planning Awareness Week! We're celebrating by shining a spotlight on estate planning mistakes that celebrities have made. With all the money they have, you'd think they'd be able to...
Q: Should I update my estate plan if I am getting a divorce?
A: Although Probate Code Section 6122 largely disinherits a former spouse automatically upon entry of a divorce judgment, the same is NOT true while the divorce is in process. Therefore, as soon as possible after the divorce proceedings have been initiated, you should...
Q: Should I update my estate plan if I am getting a divorce?
Although Probate Code Section 6122 largely disinherits a former spouse automatically upon entry of a divorce judgment, the same is NOT true while the divorce is in process. Therefore, as soon as possible after the divorce proceedings have been initiated, you should...
Q: Prop 19 is on the ballot. What does it do?
California Proposition 19 proposes changing the rules for tax assessment transfers. A vote "yes" supports the constitutional amendment to: increase the number of times that homeowners over 55 years old or with severe disabilities can transfer their tax assessments...
Q: I’ve been told I should leave an asset list as part of my estate plan. What are the top 10 items to include on this list?
A: A list will ensure that your assets are easily transferred and that your family will know exactly what you own so nothing falls through the cracks. Insurance Policies Bank and Retirement Accounts Deposit Boxes (and keys) Real Estate/Mortgages Valuable Personal...
Preguntas y respuestas sobre la herencia de las propiedades inmobiliarias
Para muchos, parece como un sueño hecho realidad. Un lejano tío sin otros herederos fallece, solo para dejarte una magnífica propiedad frente al mar. Mientras que a casi todo el mundo le encantaría heredar la casa de ensueño después de la muerte de un pariente o amigo...