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Interest rates influence how wealth transfers are valued for tax reporting purposes, so it is important to take them into account with your planning. Here are some strategic ideas that can be taken advantage of during a low rate environment.READ MORE

Independent retirement accounts, or IRA’s, offer several benefits for those that seek to minimize their tax bills. A Roth IRA is built of after-tax dollars and therefore has tax-free earning potential and allow for tax-free distributions. In the past, highREAD MORE

On May 23, 2019 the House of Representatives overwhelmingly passed the SECURE Act (Setting Every Community Up for Retirement Enhancement). A more appropriate name for the bill would be the Extreme Death-Tax for IRA and Retirement Plan Owners Act, becauseREAD MORE

A recent California Case highlights the importance of making sure you review your estate plan and beneficiary designations every couple of years. The beneficiary listed on retirement plans and Life Insurance policies supersede anything your write in your Will orREAD MORE

The new tax law did not change the rules relating to a “step-up” in basis for appreciated assets included in an individual’s estate on death. Accordingly, such assets will continue to be entitled to a new basis equal to theirREAD MORE

Older citizens often believe that adding one of their adult children to their bank account will make paying recurring bills and managing finances easier, but the reality is that it often has dire consequences. Once the account becomes a jointlyREAD MORE

There are some situations where either a charitable gift annuity (CGA) or a charitable remainder trust (CRT) would be appropriate, and other situations where one or the other is clearly preferable. Funding amount – A gift annuity can be anREAD MORE

Inheriting an individual retirement account (IRA) can have some unforeseen pitfalls, and a few of the potential mistakes (and steps to avoid them) depend on if the beneficiary is a surviving spouse or another type of beneficiary. There are severalREAD MORE

An estate plan is like a car or a house: It needs regular maintenance to function as intended. Yet unlike your car or home, external events can create the need for adjustments. Among such events is legislation like the taxREAD MORE

California is the only state to provide a tax break that extends the Proposition 13 advantages of strictly limiting property increases to inherited property, including income that is solely used for rental income. The extension was enacted 8 years agoREAD MORE