by Christian Salgado | Apr 1, 2024 | Estate Planning
WHAT IS A HOLOGRAPHIC INSTRUMENT? Handwritten Will: The term holographic instrument is typically used to reference a handwritten will – that is, a will in the testator’s handwriting instead of being typed out in a more traditional fashion. California considers...
by Christian Salgado | Nov 21, 2023 | Estate Planning
ESTATE, GIFT, AND GENERATION SKIPPING TAX EXEMPTIONS The Estate Tax is a federal tax levied on the transfer of wealth when an estate exceeds a predetermined amount in effect the year an individual passes away; is often referred to as the lifetime applicable exclusion...
by Christian Salgado | Aug 1, 2023 | Estate Planning
WHAT IS GIFT TAX? The Internal Revenue Code (“IRC”) imposes a gift tax on transfers of assets to an individual other than a spouse or dependent when such transfers exceed a specified amount – often referred to as an annual exclusion amount. Similar to the estate tax...
by Christian Salgado | Apr 1, 2023 | Estate Planning
WHAT IS ESTATE TAX? In the United States, there is a federal estate tax (sometimes called a death tax), which is imposed at a person’s death on the transfer of assets. When an estate’s value at the time of death exceeds a limit set by law, which changes...
by Christian Salgado | Dec 1, 2022 | Estate Planning
POWER OF ATTORNEY EXPLAINED At times individuals will ask us what a power of attorney is. In short, a legal document that gives someone else the power to act for you Perhaps a more thorough answer is a power of attorney is written authorization given by one person, a...
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