While law offices may not be classified as an “essential business” that remains open for in-person meetings, having a Health Care Directive, and attending to your Will, Living Trust and Power of Attorney, are quite essential during these trying times.

From our Home Office to the safety of your Home - we deliver live remote services related to Wills, Trusts, Powers of Attorney, and Probate.

We offer complimentary consultations followed by swift preparation, comprehensive phone review, and electronic delivery of documents, and instructions on remote execution of these documents for immediate use.

It has never been easier to SCHEDULE A CONSULTATION, and put your affairs in order, which brings calm in a world filled with uncertainty.

Access the ON-LINE ORGANIZER TOOL to start the process; or Call us at (310) 935-0706 to speak with a live Assistant and book your time with the Attorney. We look forward to serving you.

Tax Cuts and Jobs Act of 2017 - and its effect on Estate Planning

  • Estate Tax Exemptions and Estate Tax. Despite much discussion, the Estate Tax is not repealed. However, the Act increased the Exclusion amount for Estate Tax, Gift Tax and Generation-Skipping Tax from $5,490,000 per person in 2017, to $11,200,000 per individual (or, $22,400,000 for a married couple), starting in 2018.
  • Sunset provisions: the increased exemptions are set expire on December 31, 2025, when they are to revert to the current $5 million exemption beginning on January 1, 2026, still indexed for inflation – unless Congress acts to extend them. This presents a great opportunity to make gifts – high net worth individuals may take advantage of the increased exemptions by making gifts up the maximum available exemption amount.
  • The 40% tax rate for Estate/Gift/GST tax remains the same.
  • Portability remains: a surviving spouse may still elect to claim and use a deceased spouse’s unused exclusion amount by filing an Estate Tax Return and electing Portability within nine months of death.
  • The annual Gift Tax Exclusion will still increase to $15,000 in 2018.
  • The Step-up-in-Cost-Basis rules remain unchanged.
  • Charitable Deductions. Gifts to charity remain deductible, and the amount of cash donations to public charities increase from 50% to 60% of adjusted gross income.
  • Alimony Deductions are eliminated by the Act, as well as the corresponding inclusion in income of the alimony-recipient, effective for divorce decrees and separation agreements entered into after December 31, 2018.
  • 529 Plans. Qualified higher education expenses for 529 Plans now will include tuition in connection with enrollment at an elementary or secondary public, private or religious school.
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