January 8, 2021 In the November 2020 election, California voters narrowly passed Proposition 19, a measure that impacts two major areas related to property tax and property transfer. First, it gives homeowners more flexibility to change residences anywhere within California while retaining their property tax base as long as the new home is purchased within … Continued
October 29, 2020 Time may be running out for high-net-worth families looking to implement advantageous estate planning strategies under current U.S. tax law as of the date of this article. We continue to see historically low interest rates1 and enjoy what many consider high gift and generation skipping transfer tax exemptions; however, interest rates, in … Continued
October 14, 2020 When most couples get engaged, they begin dreaming of their future life together and planning their wedding. They are not typically thinking about writing up a premarital or prenuptial agreement, also known more informally as a prenup. For many, there is the attitude that a prenup will create a negative self-fulfilling prophecy … Continued
October 1, 2020 Like it or not, the COVID-19 pandemic has pushed us into new sets of routines and has completely upended many parts of our lives. For many, this catastrophe has been compounded by school closures, historic wildfires or taking on additional caregiving responsibilities. While this process may cause you much angst, it could … Continued
August 6, 2020 Below is a transcript of the video interview. Sara Craven: Welcome everyone to another episode of the Sand Hill interview series, where we discuss the science and art of navigating complex wealth. In this series, we speak with subject matter experts and thought leaders around all things pertaining to managing and dealing … Continued
July 20, 2020 In December 2017, Congress passed the Tax Cuts and Jobs Act (TCJA), creating a significant but temporary opportunity for high-net-worth individuals to transfer a portion of their wealth to heirs free of gift and estate tax. The act included a provision to increase the federal gift and estate tax exclusion from $5.45M … Continued
April 28, 2020 A GRAT may sound like a character from a Dr. Seuss book, but in reality, it is a great estate planning tool for clients with large estates who are concerned about paying gift and estate taxes. A Grantor Retained Annuity Trust, known as a GRAT, is an irrevocable trust established by an … Continued
April 9, 2020 The recent and significant volatility in the capital markets has caused a lot of trouble and worry, on many fronts; not to mention our collective personal health and safety concerns. Although equity markets are down significantly from their highs just a month ago, there are various personal financial planning strategies that could … Continued
January 31, 2020 One of the more common requests we hear from clients is their preference to name their minor children as IRA beneficiaries. Unfortunately, minors are legally unable to own property, and therefore cannot inherit IRA assets in their own name; however, there is a “right” way to pass IRA assets to your minor … Continued
When Gloria Vanderbilt, the great-great-granddaughter of a railroad tycoon with significant wealth, passed away this summer at age 95, the subject of her fortune and the family drama of her childhood was brought up in every article I read. While I was certainly aware of these sad details of her early life, as a child … Continued