Studies show that a majority of American adults do not have a complete and cogent estate plan in place. Failing to plan ahead for death and the likelihood of incapacity in our later years can be costly, both emotionally and financially. Many people do not have an estate plan because they don't understand the importance of estate planning. We will highlight some of the key reasons why estate planning is essential in this blog. Avoiding Intestacy If you pass away without any estate … [Read more...] about Why is Estate Planning Important in 2016?
Free Living Trust Seminars in September
Helping to keep our community informed is important to us. We get out into the community on an ongoing basis to provide helpful information to people here in the greater San Jose area. To this end, we present an ongoing series of informational workshops covering various elder care and estate planning topics. Our workshops and seminars are free of charge and open to the general public. During the month of September, we will be offering seminars that focus on the subject of living trusts. Why … [Read more...] about Free Living Trust Seminars in September
Can a Trust Provide Estate Tax Efficiency?
Estate tax efficiency is an important consideration for high net worth individuals. There are a number of states in the union that impose estate taxes on the state level. We practice law in California, and we get a break here, because there is no California state estate tax. However, we do have to be concerned about the federal estate tax. You may hear people say that the estate tax is only a factor for people who are very wealthy. Depending on your definition of "very wealthy," this may not be … [Read more...] about Can a Trust Provide Estate Tax Efficiency?
Do Trusts Provide Estate Tax Efficiency?
The federal estate tax is not a factor for most people, however, it is a very big deal for high net worth families. This tax carries a 40 percent maximum rate, and this can equate to a great deal of wealth surrendered to the tax man. To determine whether or not you are exposed to the tax, you want to compare the value of your estate to the estate tax credit or exclusion. In 2015, the exclusion is $5.43 million. When you are inventorying your assets, you must include everything that you own, … [Read more...] about Do Trusts Provide Estate Tax Efficiency?
Budget Proposal for 2016 Would Reduce Estate Tax Exclusion
The federal estate tax is controversial, and there are those who would say that it is unfair, because it is an instance of double taxation. You pay taxes all of your life, and your estate is comprised of whatever you have left after paying these taxes. Why should the event of your death be a taxable one? Though this may be a good question, the estate tax does not get all that much attention, because most people are not exposed to it. However, if your estate was subject to the estate tax and its … [Read more...] about Budget Proposal for 2016 Would Reduce Estate Tax Exclusion
Free Report: What is a Qualified Personal Residence Trust in California?
If your estate is going to be exposed to the estate tax, you could potentially reduce the taxable value of your home through the creation of a qualified personal residence trust. Topics covered in this whitepaper include: Federal Transfer Taxes Qualified Personal Residence Trusts Click here to read the whole article or download the PDF. … [Read more...] about Free Report: What is a Qualified Personal Residence Trust in California?
What is the Marital Estate Tax Deduction in Campbell California
What is the Marital Estate Tax Deduction in Campbell California from Roy W. Litherland The estate tax exclusion is the amount that you can transfer tax-free to people other than your spouse. Learn more about The Marital Estate Tax Deduction in Campbell California in this presentation. … [Read more...] about What is the Marital Estate Tax Deduction in Campbell California
