Property Tax Reduction on the 2018 November Ballet

Article, Estate Planning, wealth preservation

** Previously reported this article stated that there was no age limitation which is an error. The age limitation is 55 years or older. ** On next November’s ballot, California Proposition 5, the “Property Tax Transfer Initiative,” would add a wrinkle to existing...

New IRS Filing Requirement for 2016

Article

If you filed an Estate Tax Return after July 2015, the IRS is now requiring you to also file Form 8971 (and accompanying Schedule(s) A) before March 31, 2016. The purpose of this form is to ensure that information on property values reported to the IRS by Executors...

Truths and Myths About Estate Planning

Article, Estate Planning, wealth preservation

Truths –  An estate plan that utilizes a “fully funded” revocable living trust avoids probate. Fully funded means that all appropriate assets are titled in the name of the trustees of the trust. Please note, retirement plans should not be retitled to your trust!...

International Estate Planning Basics

Article, Estate Planning

Estate Tax Exclusion amount in 2009 available to a non US citizen who is a resident is $3,500,000. Estate Tax Exclusion amount in 2009 available to a nonresident noncitizen spouse limited to $60,000. Gift Tax Exclusion amount in 2009 available to a non US citizen who...

Estate Planning for Families with Kids

Article, Estate Planning, wealth preservation

OF HEARTS AND MINDS Estate Planning for Families with Kids If you are a parent and have children, this series on estate planning for families with kids is designed to address your basic estate planning questions. When I meet with clients with children under the age of...