The passage of Proposition 13 in 1978 established an initial base year, 1975-76, for assessed valuation for California real property that had not undergone a change in ownership since February 1975. Under Proposition 13, property taxes are limited to one percent of the assessed value...
The Tax Cuts and Jobs Act signed into law last year did not include the hoped-for repeal of the federal taxation of gifts and estates. Instead, Congress opted to increase the Basic Exclusion Amount, which effectively eliminated gift and estate taxes for most people. The...
It’s probably safe to assume that most young adults are more concerned about pursuing their education or planning careers than they are about estate planning. The notion that estate planning is only for older adults with substantial assets to pass on to their heirs ignores...
