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Shall vs. May as Used in Interpreting Trust LanguageIn trusts, there is a different meaning for the words "shall" and "may" and it can make all the difference when interpreting a trust.
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New Estate Tax Exemption Indexed for Inflation for 2023Revenue Procedure 2022-38 recently released announcing the new estate and gift tax exemption amount of $12,920,000 and $17,000 annual gift tax exclusion in 2023
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What is the Difference Between a Will and a Trust?Wills and Trusts are similar because both pass assets at death, but the differences are far greater. Wills go through Probate but Trusts typically do not.
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Estate Planning for Digital AssetsDigital assets should be considered when putting together your estate plan. Who can have access should an incapacity or death strike is critical for most.
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Prop. 19 Parent-Child Reassessment Exclusion Limited to $1MMThe originally assessed value of the home gets added to $1MM of fair market value for a combined value of $1MM plus the originally assessed value.
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Prop. 19 and Its Effect on the Parent-Child Property Tax Reassessment Exclusion in CaliforniaIn 2021, Prop. 19 went into effect and modified existing law as it relates to any California real property purchases or transfers between parents and children.
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How to Fund Your Revocable TrustProper funding of your trust is vital to ensuring your wishes are followed and ensure those you intent to inherit from you do and in the way you intend.
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How to Legally Protect Yourself When Your Teenager Starts to DriveHow to Legally Protect Yourself When Your Teenager Starts to Drive and How to Protect Your Young Adult Child With the Right Legal Documents POA and Health Care
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What is a Clayton Election Trust?Having the right marital funding formula in a joint revocable trust is critical especially in light of the upcoming 2025 estate tax exemption cliff
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Current State of the Federal Estate TaxThe Federal Estate Tax Exemption is a healthy $12,060,000 now (2022), but the expiration of the current law is coming at the end of 2025 cutting it in half
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