Last month, we explained that the new tax law changes a lot when it comes to estate planning. Most people in the know are suggesting that people meet with their attorneys and review the terms of their Wills and Revocable Trusts. With the big changes, it’s imporyant to make sure these plans are still aligned with your wishes.
See, some Wills and Revocable Trusts create trusts intended to be funded according to formulas that utilize the exemption amount in effect on your date of death. In the case of the new tax law, if someone dies before 2026, the trusts could get funded with way more than people might have considered when they first signed the legal documents. Anytime we see big changes to tax laws, it’s a good idea to contact your estate lawyer to make sure the old plan is still the best plan. If it’s not, the attorney or estate planner can help get things in the family’s best interests.
Oh, by the way…
While on the subject of estate planning, the new tax law brought another change. Did you know that the amount you can give without incurring a gift tax or any of your gift tax exemption allowance increased to $15,000!
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 realtor 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.