The 25th edition of How to Probate an Estate in California addresses federal estate and gift tax issues using numbers that were current for 2021. The federal government has updated those numbers for 2022.
Issue |
Where in book |
2021 number |
2022 number |
Federal gift & estate tax lifetime exclusion |
Chapters 1 & 7 and the Glossary |
$11.7 million |
$12.06 million |
Federal gift tax annual exclusion |
Chapter 7 |
$15,000 |
$16,000 |
Additionally, California has raised the dollar figures related to various probate procedures. Among these are the maximum value of an estate that may use small estate procedures rather than full probate. These changes affect the estates of those who die on or after April 1, 2022, and the figures continue to change every three years.
Issue |
Where in book |
2021 number |
2022 number (on or after April 1) |
Maximum gross value of estate that qualifies for small estate procedures |
Chapter 11 |
$166,250 |
$184,500 |
Maximum value of real property that can be transferred using an affidavit |
Chapter 11 |
$55,425 |
$61,500 |
Salary owed to the deceased person that is excluded from the value of the estate |
Chapter 11 |
$16,625 |
$18,450 |
Amount that can be collected using a Declaration for Collection of Compensation Owed to Deceased Spouse or Registered Domestic Partner |
Chapter 15 |
$16,625 |
$18,450 |
Maximum value of net estate (not counting home) that qualifies for a small estate set-aside |
Chapter 13 |
$85,900 |
$95,325 |