With the passage of Proposition 19 and the change of administration in the White House, there is a lot of confusion about real property transfers, capital gain and estate taxes.
Proposition 19 goes into effect on February 16, 2021 and the favorable property tax reassessment terms for gifts from parents to children are going to change.
Virtually everyone needs an estate plan, but it isn’t a one-size-fits-all proposition. Even though each person’s situation is unique, general guidelines can be drawn depending on your current stage of life.
2019 IRA contributions can be made until the tax filing deadline of April 15, 2020.