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

Have you received a recent gift from a foreign person? While the reporting threshold is high if the gift is from foreign estates or nonresident aliens, if the gift is from a foreign partnership or foreign corporation, the threshold is… Read More

Do you have plans to start a new business, have multiple business ventures, or simply wish to establish a solid financial foundation for yourself and your family? If so, you might have already considered setting up a trust to protect… Read More

Most of us dread the chore of creating new online accounts, but we all have dozens.  We bank and shop online, pay our mortgages, water, and credit cards online, use Facebook, Instagram, and Twitter.  The list goes on and on… Read More

When administering the assets of a deceased family member’s estate, the county-level property tax reassessment rules for transfers of California real estate are often ignored. In general, when the transfer of property occurs, the taxable value on which the property… Read More

Are you the current owner of an individual retirement arrangement (IRA) or, perhaps, a beneficiary of one? There are several different distribution options available to those who are beneficiaries of an IRA and these options differ depending on who the… Read More

What happens to you after you die? We can’t tell you that much, but we can tell you what happens to your assets. If you die without a trust or only a will, most or all of your assets may… Read More

The most common type of trust created by a married couple is a revocable living trust, and for those living in California, often the assets inside the trust are community property. However, depending on your marital and family situation, having… Read More

How your property is titled can affect how it is taxed and whether or not it receives a step-up in basis upon your death. Therefore, consider adding your spouse, child, friend, or business partner to the title of your property… Read More