We’re talking about a probate sale today, about when they happen and what usually is required in order for the sale to go through.  Now this is a general overview, so there’s a lot more technical details involved, but at the end of the day, when someone petitions for a probate, so that means that they usually don’t have a trust or the house is not in the trust and they go to probate, the judge will ask whether that person who is in charge can be bondable. And what that means is, can they get “insurance” if they commit.

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Today, we’re talking about how to limit or avoid completely the estate tax. The estate tax is levied upon death. It’s called the death tax. It’s levied after the government gives you an exemption, an amount you can have without paying any taxes upon death.  So if you have less than $11.49 million as of today in 2019, You won’t have to pay a tax. But if you are over that amount, you will have to pay a 40% tax on all of those assets above the exemption. They want it in nine months. One question that was all all.

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Today, We’re going to be talking about the estate tax for a married couple. From previous blog, it said that if you have 11.5 million dollars of exemption as of today, which 11.49 but, it’s still 11.5 million dollars 2019 of federal estate tax exemption.  But in California, there isn’t any so you don’t have to worry, but for federal there is. So if you have less than 11.5 million dollars you’re good. If you have over 11.5 million dollars, it’s 40% of every dollar over 11.5 million dollars. So if you’re married, what happens? How much do you have?.

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Let’s talk about the estate tax. How far do you know what is the estate tax, also known as the death tax? It’s a tax that is levied upon you when you pass away.  Some government will have said like this “I know you’ve paid taxes all this time, “but how much you have left?” And some says, “Oh, well I have a couple million dollars.” And they will have said back, “Are you within the exemption? “If you’re not within the exemption, “you’re going to have to pay a tax.”  What’s the exemption today in 2019 or 2020? It’s.

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IRAs are individual retirement accounts that allow you to save money for retirement in a tax-efficient way. A 401k is similar to an IRA a retirement savings plan that is sponsored by an employer. It lets you save and invest a piece of your paycheck before taxes are taken out. You will get taxed on those pieces of income later in life.  Do IRAs and 401ks go into your living trust? To answer this question, we first need to understand what kind of asset an IRA or 401k is from an estate planning perspective.  From an estate planning perspective, IRA.

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