Death and Taxes are the only sure things in life that we all know are inevitable. Probating Estates.
The Federal Government and the State of California have not lost sight of at least the tax part.
There are laws that the government, through our elected representatives, has passed providing for taxes to be assessed on certain Estates of deceased people. The government will want to confirm what is “Owed in Taxes” and then collect the taxes due prior to heirs receiving their inheritance. There are a number of exceptions such as the size of the estate and legal form of ownership prior to the death of the decedent. Probating Estates.
As part of an overall Estate planning process, everyone who has an Estate valued at a minimum of $100,000.00 needs to obtain legal advice as to what the correct Estate structure should be. The right choices and decisions made prior to death can lead to a substantial savings in aggravation and taxes at a very difficult and trying time for all involved.