Generally speaking, inheritance is not subject to tax in California. If you are a beneficiary, you will not have to pay tax on your inheritance. There are a few exceptions, such as the Federal estate tax. However, an estate must exceed $11.58 million dollars per person in 2020 to be subject to estate tax in

A Trust is an entity that hold assets. Living Trusts are set up to benefit the Trust creators, (also referred to as the “Settlors,” or “Grantors,”) during their lifetimes. Living Trusts also provide the terms for management and distribution of the assets once the Grantors pass away.

Living Trusts are typically drafted by an estate

The Following is a Transcript of this Video. For More Information, CLICK HERE

Hi, this is Keith Davidson from Albertson & Davidson.  In this video, we’re discussing real property taxes. When a person passes away and they transfer assets, real property, from themselves to their children, under California law, the children are allowed to

I have heard it a million times before: “I don’t need a Trust because ____________” you fill in the blank: I don’t have enough money, I won’t care when I’m dead, California probate is easy, my wife and I own everything in joint tenancy…there’s many, many excuses and misinformation regarding Trusts in California.

iStock_000016768581_ExtraSmall.jpg

In California

Did you know that amending a California Trust is not the only way to “amend” a Trust?  Sounds like a riddle, but it’s actually a concept known as a “power of appointment.”

Mystery Box.jpg

A Trust amendment is a simple way to change a California revocable Trust.  And an amendment can change any part of the Trust

To be honest I have lost track of how we refer to different generations.  I know baby-boomers and generation X, I’ve heard tell of generation Y, but I’m lost after that.  So let’s just call everyone under age 21 as of now “generation X-Box.”  How do you deal with the transfer of wealth to generation