Throughout Southern California
View Our Practice Areas

Your Estate Plan - Time for Some Spring Cleaning

3.jpgWITH the federal tax on estates now kicking in at $5.25 million - or $10.5 million for a couple - it may seem that only the very wealthy need to worry about paying the tax. But that doesn't mean that everyone else can forget about an estate plan.

We all are familiar with the annual family ritual known as "spring cleaning." With the changes in the estate tax laws, this may be a good time for some "spring estate plan cleanup."

Estate planning is an ongoing process, not a one-time event. Not only are there changes in tax laws, but your life and the lives of your loved ones are in a constant change of flux as you move through life together. Accordingly, keeping your estate plan up with life changes requires action, not complacency.

This message was brought home in a recent article by The New York Times titled "Estate Planning Remains a Moving Target Under the New Tax Law." The article notes that new tax law makes the estate tax a far less likely threat to the life's work of many Americans. In fact, the "permanent" nature of this most recent iteration of the tax law allows individuals to exempt $5.25 million from taxation (doubled to $10.5 for married couples). Even better, the exemption is set to index for inflation.

All that noted, no changes to the estate tax or any other transfer tax will change the necessity for responsible adult Americans to make sure their estate plans are current. For example, wills, trusts, beneficiary designations and even medical directives should be reviewed periodically.

As suggested in the original article, now is a great time to do some spring cleaning. It's a chance to review what you have done, make any needed changes and perhaps tie up some loose ends.

For more information, please visit my estate planning website.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Find Out The Difference That Experience And Expertise Makes

Get the peace of mind that you deserve. First, attend a seminar. This will entitle you to a free initial consultation and a discounted estate planning fee. To learn more about our services or sign up for a seminar, contact us online or call us at 866-402-1805. We have offices in Torrance, Orange, Newport Beach, Pasadena and Woodland Hills.

Questions? Contact Us.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Call Now For A Free Consultation: 866-402-1805
  • ${site.data.firmName}${SEMFirmNameAlt}
  • Main Office: Torrance

    Torrance Office
    990 West 190th Street
    Suite 500
    Torrance, CA 90502

    Toll Free: 866-402-1805
    Map & Directions

    Orange Office
    333 City Boulevard West
    17th Floor
    Orange, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Newport Beach Office
    5000 Birch Street
    Suite 8000
    Newport Beach, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Pasadena Office
    790 East Colorado Boulevard
    9th Floor
    Pasadena, CA 91101

    Toll Free: 866-402-1805
    Map & Directions

    Woodland Hills Office
    5850 Canoga Avenue
    4th Floor
    Woodland Hills, CA 91367

    Toll Free: 866-402-1805
    Map & Directions

    Office map
Check out The Law Firm of Kavesh, Minor & Otis on Yelp
Check out Kavesh Minor & Otis on Yelp
Check out The Law Firm of Kavesh, Minor & Otis - Orange on Yelp
Check out The Law Firm of Kavesh Minor & Otis - Pasadena on Yelp