Navigating Property Taxes, Income Taxes, and Gift Taxes When Transferring Real Property to a Child in California Deciding whether to transfer real property to your child during your lifetime or upon your death is a critical aspect of estate planning in California. This decision involves understanding the various tax implications,…
Being named the beneficiary of a Transfer on Death (TOD) deed in California can be a seemingly straightforward way to inherit property. However, this process comes with specific responsibilities and potential complications. Here’s a detailed guide on what you need to do after the death of the person who prepared…
We want to bring your attention to an important update in estate and gift tax laws that may impact you in the near future. The federal lifetime gift and estate tax exemptions, which currently allow individuals to shield up to $13.61 million and couples up to $27.22 million from estate…
Introduction Estate planning, a topic often associated with legal documents, financial assets, and inheritances, might not immediately conjure thoughts of delectable desserts. However, when you delve deeper, you’ll discover a surprising connection between the art of creating delicious treats and crafting a comprehensive estate plan. Just as a dessert is…