Welcome to Straight Talk Edition 2.

Today I want to focus on Estate Taxes and Trusts. Back when President Bush was in office he enacted tax laws with a 10 year time window. Those ten years have passed and Congress extended the laws for 2 years. In the estate tax area, beginning January 1, 2013, the amount that can be protected from estate tax will drop to 1 million per person.

Right now, the amount of the protection AND the amount you can gift without tax is 5.12 million. That is right. 5.12 million. So today you can give away 5.12 million. Tomorrow only one million. This deal from the Federal Government will only last until December 31 and it requires a person with advanced training in this area to deal with all the complexities.

A simple word about Trusts. If there were no taxes, wouldn’t a Trust still be desirable? I believe the answer is yes because your family, your loved ones, charity and the vision that is your life is represented by the words you put into the Trust. So real planning occurs when we go beyond just save taxes and get it cheap. Real planning occurs with value, wisdom and experience on your side.

Estate Planning in San Diego, California – Please contact our office at (760) 931-9923 to discuss how we can help you as we have helped others in this planning.

I love to educate. Straight Talk. If you know of groups who could benefit from a speaker please let us know and stay tuned for our Straight Talk Town Hall.

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