Did you know that it’s National Estate Planning Awareness Week? In 2008, the U.S. Congress passed House Resolution 1499 designating the third week in October as National Estate Planning Awareness week. According to Caring.com’s 2022 Wills Survey, over 66% of Americans believe that having an estate plan is important, but only 1 in 3 Americans…
Continue reading ›The unlimited marital deduction is part of the United States Federal Estate and Gift Tax law. The law allows married U.S. citizens to transfer an unlimited amount of property and money to their spouse at any time free of any taxation (both estate and gift taxes). These spouse-to-spouse transfers are not taxed. The largest transfers…
Continue reading ›A revocable living trust is a type of trust that can be modified during the creator’s lifetime. California residents commonly use revocable living trusts to: Name the individuals who will inherit your property (your “beneficiaries”). Avoid probate (a time consuming and expensive court proceedings where a judge determines who inherits your money and property). Avoid…
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