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Probate Calculator Form

In California, the probate code sets a statutory fee for attorneys and executors for the administration of an estate. Many families are shocked to learn just how much the probate process will cost them, often leaving them with a much smaller inheritance than they’d expected. Use our calculator below to estimate Probate fees for estates over $184,500, but less than $10,000,000. Probate fees are set by California Probate Code Section 10810.

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Home / Archives for Taxes

Proposition 19 and Repeal the Death Tax Act (VIDEO)

Taxes, Property Tax, Real Property, California Proposition 19, Prop 19

In this vlog, Litherland, Kennedy & Associates Attorney Maggie LaBranch-Gonzales discusses the Repeal the Death Tax Act, a project of the Howard Jarvis Taxpayers Association to repeal the negative effects of Proposition 19. Please note that the direct link to the petition is: https://reinstate58.hjta.org/wp-content/uploads/2023/10/Official-Repeal-the-Death-Tax-Petition-plus-Instructions-and-Top-Funders-Sheet-October2023.pdf. YOU MUST PRINT AND SIGN THE PETITION WITH PAPER AND INK AND MAIL … [Read more...] about Proposition 19 and Repeal the Death Tax Act (VIDEO)

Step-Up in Basis (VIDEO)

Step-Up in Basis, Taxes, Capital Gains, taxation

In this vlog, Litherland, Kennedy & Associates Attorney Maggie A. LaBranch-Gonzales discusses the "step-up in basis".  Home. Purchase Value: $100K. Sold: $1M. $900K in appreciation. Capital Gains taxes based on the appreciation. BUT if you didn’t sell the home and the kids inherited it at your death and then sold it, they would get an AUTOMATIC step-up in basis. This means that the new basis for the house would be it’s value at the date of your death, which is $1M in this … [Read more...] about Step-Up in Basis (VIDEO)

Tax Planning for 2023

Legal Education, Estate Planning, income tax, taxation, Taxes, Estate Tax

Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. As we start off the New Year, we need to think of…tax planning! Some years Congress tweaks the laws more than in other years. While 2022 held plenty of events: the war in Ukraine, an improved “bivalent” coronavirus vaccine addressing new coronavirus variants, the U.S. midterms elections, etc., it was a relatively quiet year for legislative changes impacting planning. … [Read more...] about Tax Planning for 2023

Do I Pay Income Taxes on Living Trust Payouts?

Taxes, Asset Protection, Living Trust, Estate Planning, tax, income tax, taxation

The revocable living trust is a very versatile estate planning tool that can be the ideal choice for a wide range of people. Before we look at the taxation question, we will explain a few of the benefits so you understand why living trusts are so effective. Probate Avoidance Some people assume that the executor of a will can act independently without supervision, but this is not the case. The will must be admitted to probate, and a court would provide supervision during the administration … [Read more...] about Do I Pay Income Taxes on Living Trust Payouts?