Do you have grandchildren graduating this summer? Are you financially stable and want to make gifts for your graduates? In this blog, OC Wills & Trust Attorneys will explain estate planning gifting strategies and address the tax and legal issues of making significant gifts.
When Do You Want to Make the Gift?
When making...
Matters to Review When Gifting to Grandchildren for Graduation Continue reading…
Category: Estate Tax & Gift
What You Need to Know About the Bernie Sanders Estate Tax Bill
Have you heard about the estate tax bill Senator Bernie Sanders proposed to Congress back in March of this year? While it hasn’t passed yet, if it does, it will go into effect at the end of the year and can have substantial impacts for many Americans. The serious changes proposed by...
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How Can the Portability of the Estate Tax Exemption Impact You?
Estate planning involves an overlap with many different types of law. For instance, tax law can be a prominent component of estate planning. While not all states have an estate tax, there is still the federal estate tax to consider. Without proper planning, more sizeable estates risk losing a significant amount...
How Can the Portability of the Estate Tax Exemption Impact You? Continue reading…
Using a 529 Savings Plan in Your Estate Plan
Have you ever heard of a 529 savings plan? If so, you probably heard that it can be a great way to save for a child’s or a grandchild’s educational expenses. The name for this tax-advantaged investment vehicle comes from the Internal Revenue Code section that authorizes them. 529 savings plan provides...
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How Should Your Estate Plan Change in Response to Trump’s Tax Plan?
President Trump and the GOP have unveiled a potential tax reform plan that could impact your estate plan. Any Californian with an estate plan in place, or those who have put off estate planning, should take the time now to fortify their estate plan in the face of potential tax changes....
Proving The Old Adage Right
“In this world nothing can be said to be certain, except death and taxes.” -Benjamin Franklin
Truer words have never been spoken, and it is the intersection of these two certainties that leads to many a headache and oftentimes heartache. Working with an experienced attorney can help ensure that all the taxes...
Living In A Tax Deduction
You have probably heard about how Hugh Hefner sold the Playboy Mansion but retained the right to live there until he dies. And you might have read that Zsa Zsa Gabor did something similar since to her famous estate, leaving her (ninth) husband, Frédéric Prinz von Anhalt, homeless when she died. But...
Want To Avoid Estate Taxes? Take A Cue From Santa And Start Gifting
The holiday season is upon us and 2017 is right around the corner. In all of the holiday hustle and bustle it is easy to forget or skip a few items on your to-do list. One thing you should be sure to get done before the end of the year if you...
Estate Planning Lessons from Joan Rivers
Many of us like to make an entrance. But, some of us, like recently passed Joan Rivers, want to make an exit. When referring to an exit, we mean a final exit, or a funeral. Rivers wanted her funeral to be Hollywood affair. She wanted a flashy, star-studded event, a...
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2013 Estate Tax & Gift Update
Once you’re worth more than a certain amount, your estate will have to pay estate taxes upon your death. Under the 2010 tax law, each spouse can transfer up to $5 million tax-free during life or at death. The tax rate for amounts transferred over the exemption was 35%.
If Congress had not acted, the...
2013 Estate Tax & Gift Update Continue reading…
