Estate Tax

Selling a home or other real estate you inherited in California can provide major financial value, but the sale may have tax consequences. The inheritance itself is generally not treated as taxable income in California. However, selling the property can create a...

Estate taxes can significantly reduce the value of an estate. California has abolished its state-level estate tax. People who die while living in California are not subject to state-level estate taxes, and their beneficiaries do not need to worry about any California...

Many families in California feel confused about estate taxes. They hear things online from friends or on social media and assume they apply to them. These incorrect assumptions can lead to tax problems and higher costs later. Families need correct information so they...

Estate tax obligations can drastically alter an individual’s final legacy. Their executor or personal representative may need to use as much as 40% of the total value of their estate to cover their federal estate tax obligations. Generally speaking, it is very...

Taxes play an important role in estate administration. They are a potential source of liability for the estate and possibly the personal representative if they do not follow the appropriate steps. The personal representative overseeing the process usually files a...

There are a handful of different tax obligations that may arise during estate administration. These taxes typically take priority over inheritance rights, making them a key consideration when developing an estate plan. Many people worry about estate taxes in...

When people die, those left behind have to settle their affairs. Covering tax responsibilities is often a major component of that process. The personal representative of an estate usually needs to file a final income tax return even if the decedent hadn't earned...

Benjamin Franklin said, "Nothing is certain except death and taxes." And even though a healthy lifestyle can help you live longer, humans still have not found a way to become immortal.  Unfortunately, taxes are also unavoidable, but there are ways to minimize the tax...

The holiday season and end of the calendar year in general are great times to review your estate plan. Taking a few minutes to look over your will, trust or beneficiary designations can help to ensure that these documents are in order and still help you accomplish...