California passed new legislation, effective January 1, 2022, requiring that transfer on death (TOD) deeds be signed by two adult witnesses. The witnesses cannot also be named as beneficiaries (recipients of the property upon the owner's death) on the deed; you must find other people to act as your witnesses.
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
The COVID-19 pandemic has complicated the process of finalizing estate planning documents by making it harder to gather witnesses or to visit a notary public. Thankfully, you have some options. Get Creative for Witness Signatures. Witnesses for wills cannot be beneficiaries of the will, and witnesses
For 2021, the IRS made small changes to the estate tax (and related taxes), mainly adjusting for inflation. Federal Estate Tax Exemption -- $11.7 million. Unless your taxable estate is worth more than $11.7 million, your estate will not owe federal estate tax if you die in 2021. This is an incremental
Effective January 1, 2020. The California legislature made several significant changes to California’s “small estate” probate procedures. Learn how changes affect the probate process for estates of people who die after January 1, 2020.