Estate Taxes

There are two types of taxes, state and federal.

State Taxes

In the state of California and Nevada, unlike many other states, there are no inheritance taxes.  When you die your heirs do not have to pay any taxes when they receive their share of your estate.

Federal Taxes

Under the new federal tax legislation that was passed in December, 2010, called the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, within nine months from the date of death, federal estate taxes must be paid, if the net value of an estate is greater than $5,000,000.00, for individuals and $10,000,000.00 for married couples. This federal legislation will expire in December, 2012.

Therefore, if your estate is currently in excess of $5,000,000.00, then we will need to discuss the appropriate tax saving trust provisions that could be available to you for use in your living trust.

DISCLAIMER : The material contained on this website is for informational purposes only, and should not be construed as the dissemination of legal advice to anyone by the attorney.  You should always seek the advice of an attorney, who can review and ascertain your legal needs and recommend a proper course of action regarding your situation.