Articles
Terminating a Bypass Trust in California: What You Need to Know
Modern Estate Planning Strategies for Outdated Trust Structures Many people who created AB or ABC Trusts in the past may now find that their estate plan no longer aligns with today’s tax laws. These trusts—especially the Bypass Trust portion—were once critical tools for minimizing estate taxes. Thanks to significant changes in federal tax law… Read More »
The One Big Beautiful Bill Act and Your Estate Plan
The One Big Beautiful Bill Act (OBBBA) was passed by Congress and signed into law on July 4, 2025. In 2017, the Tax Cut and Jobs Act (TCJA) made temporary updates to several tax provisions. Most pertinent to many of our clients was the transfer tax exemption, which includes the estate, gift, and generation… Read More »
3 Tax Issues to Consider in Estate Planning – Property Taxes
Previous Related Articles: Summary: 3 Tax Issues to Consider in Estate Planning 3 Tax Issues to Consider in Estate Planning – Estate Taxes 3 Tax Issues to Consider in Estate Planning – Income Taxes Many people engage in their own estate planning without understanding the significant tax consequences that result. We have previously written… Read More »
Adding Your Child to Title on Your House to Avoid Probate – Good Idea?
Should You Add Your Child to Title or House Deed to Avoid Probate? The simple answer is no. First, let’s discuss why many of you are considering adding your child to title. Someone, perhaps an estate planning attorney, has told you that when you die, your assets go through probate. There are certain assets… Read More »
3 Tax Issues to Consider in Estate Planning – Estate Taxes
Related Articles: Summary: 3 Tax Issues to Consider in Estate Planning 3 Tax Issues to Consider in Estate Planning – Property Taxes 3 Tax Issues to Consider in Estate Planning – Income Taxes The new year brings uncertainty surrounding the estate tax. The 2017 Tax Cuts and Jobs Act (TCJA) expires on December 31,… Read More »
Estate Taxes Under a Second Trump Administration
It’s official. Donald J. Trump will take office as the nation’s 47th president in January 2025. With the upcoming expiration of the Tax Cut and Jobs Act (TCJA), what can we expect a second Trump Administration to do to the estate tax? In 2012, the American Taxpayer Relief Act (ATRA) was signed into law… Read More »
Estate Planning After Divorce – What Needs to be Done?
When going through a divorce, the last thing you probably want to do is hire an estate planning attorney. However, estate planning becomes a vital part of your life before and after your divorce. Why? Well, when you are married, some of your estate planning can be deferred to your spouse if you die first…. Read More »
3 Tax Issues to Consider in Estate Planning – Income Taxes
Related Articles: Summary: 3 Tax Issues to Consider in Estate Planning 3 Tax Issues to Consider in Estate Planning – Estate Taxes 3 Tax Issues to Consider in Estate Planning – Property Taxes We previously wrote about how estate planning decisions are significantly affected by at least three different taxes – income, property and… Read More »
3 Tax Issues to Consider in Estate Planning
When planning for the distribution of assets after your death, it’s important to understand the income, property, and estate tax consequences of decisions about who inherits, how, and when. Here, we introduce these tax considerations with the intention of delving deeper into each tax issue in future articles. Income Tax It may seem odd… Read More »
2024 Legal Updates
Modern Wealth Law is committed to providing our clients with comprehensive, up-to-date legal services. As part of this commitment, we have prepared the following summary of legal developments and strategies that can help you align your estate plan with the current legal framework. Portability and the estate tax exemption: The 2024 estate tax exemption… Read More »
