As 2020 comes to a close, it is important to consider estate and gift tax planning strategies and to closely review your estate plan.  The article outlines the tax changes from 2020 to 2021 and discusses income tax and estate… Read More

Inherited IRAs can come with a large tax burden – so large that the value of the IRA may be almost entirely diminished between estate taxes and income taxes. However, there is a little-known deduction that can significantly lower a… Read More

Our assets are very important to us, but have you thought about how your assets are titled? When someone dies, the way assets are titled may affect many things, such as who has access to or will inherit those assets,… Read More

As we are wrapping up the 2019 year, we want to think about things we can do to minimize tax liability on trusts and estates. This article outlines the changes in trust and estate taxation for 2020 as well as… Read More

Did you know that interest-free loans of money to your friends and family can be considered a taxable gift for federal gift tax purposes? This article will help you understand the circumstances under which such gift treatment might occur. In… Read More

Are you considering making gifts to loved ones or charities? Before you pull out cash to make a gift, consider gifting other assets such as stock and real estate or holding onto those assets and bequeathing them through your estate…. Read More

Living in beautiful San Diego, it should not come as a surprise that there are homes in neighborhoods like Del Mar and Rancho Santa Fe that are valued anywhere from $1 million to upwards of $20 million. If you own… Read More

With the increase to the standard deduction under the Tax Cuts and Jobs Act, it is more important than ever to carefully plan out your charitable giving to maximize the deduction on your tax return. Charitable trusts provide a way… Read More

Tax reform made to sweeping changes to the tax code.  The notable change to gift and estate tax is the doubling of the lifetime gift tax exemption from $5 million to $10 million, adjusted for inflation.  This increased lifetime exemption… Read More

Do not let the word portability scare you.  It is simply the act of transferring a decedent’s unused gift and estate tax exemption to the surviving spouse.  Since the exemption has doubled under the Tax Cuts and Jobs Act, married… Read More