Planning your estate is essential to securing your legacy, especially in the state of California. Your estate may be as small as a bank account or contain a piece of real property or consist of assets that when combined, represent significant wealth. Regardless of size, it’s more crucial than ever in today’s world to plan what will happen with your wealth.
When there are any changes in legislation, let alone administration changes, there can be significant changes to what an individual can give away during lifetime and at death. Because we currently face both of these factors of change, it is more important than ever to seek professional counsel when planning your estate.
Many people are hesitant to start their planning process because it causes one to consider death, and we all tend to consider passing on as a far-future event.
- Is there a plan in place for my children?
- What will happen to my property?
- What will happen to my business?
- Who and what will be taxed when passing on my estate?
When looking for a partner to guide you along the process of Estate and Gift Tax planning, it is essential to choose the one(s) you are most comfortable with. Between CPAs, Financial Planners, Attorneys. and the myriad of modern online tools, you can easily find yourself in decision paralysis. Aside from DIY online tools, it is best to search for counsel who is experienced with your unique situation — that you like and trust.
Frayda Bruton has been providing Estate and Gift Tax planning for decades and is a Fellow of the American College of Trust and Estate Counsel, holding the duty of educating the counsel on California Tax specifically. She has been counseling clients with California Property tax issues and concerns and has written extensively on the subject. When representing clients through planning, Frayda Bruton combines experience, the nuance of California Tax Law as it affects a client’s needs to find the most effective plan for their wealth.
If you find yourself looking to begin your Estate Planning or would like professional input on your current plan, Book a Consultation to get started.