We’ve discussed the 2018 changes to the Trust and Estate law that doubled the per-person estate tax exemption from $5.45 Million to $11.2 Million per person. We talked about how the exemption will continue to grow with the rate of inflation. The question is, “Is there a sunset provision in the 2018 estate tax exemption law changes?
The answer to that? Yes.
There’s no guarantee that is you live until the year 2026 that all of these exemption increases won’t take a nose dive back down to the 2017 levels. A sunset provision is scheduled for the year 2026. So these increases allowing an estate tax exemption of $11.2 Million per person may only last eight years.
Obviously, it’s hard to know what a 2026 Congress will choose to do. So, people who don’t make lifetime gifts, shouldn’t assume that the exemption will still be there if they outlive the point of the sunset provision. All of this uncertainty means people with valuable estates need to consult with an estate planner more than they ever did.
We work with experts in estate planning all the time. Please let us know if you need a referral to one you can trust!
Do You Need A California Realtor Specializing In Probate?
We are experts in the probate sale under the probate code and trust law. So, we know the California Probate Code. We won’t let you get lost in it. If you need a real estate agent in California specializing in probate, please contact us today! We are upfront and honest about the costs of probate. Everyone wants to know about probate fees, but no one wants to talk about them. We will though. Sentinel Realty Partners wants our clients to be fully prepared and fully informed about buying or selling California probate real estate.
We have a list of the absolute best probate lawyers in California available for our customers. Plus, we also have relationships with the most vetted contractors, plumbers and electricians in California. See? We will guide you through every step of the process of selling (or even purchasing) a home involved in probate.
If you are buying a home in California, please have a look at our probate property search. If you need a Los Angeles, Orange County, Riverside, or San Bernardino professional to help you through the probate real estate maze, call us! These waters a murky, and you’ll want a knowledgeable, dependable, responsive team behind you. Check out Sentinel Realty Partners’ client reviews.