Planning your financial future well in advance is crucial to avoid money issues down the line. Creating a trust is prudent in order to protect your assets and ensure that your money goes to the right.
To embed, copy and paste the code into your website or blog:
Blank Rome’s annual estate and tax planning newsletter discusses certain concepts and techniques that should be considered in 2021 by our clients and friends in California. We first discuss perhaps the most important recent development, which was the outcome of the 2020 “Blue Wave” Election that gives the Democratic Party control of the presidency and Congress. In view of the massive federal bailouts that have occurred and are likely to occur this year, it seems logical to assume that significant changes (increases) to the tax burden on many individuals will be enacted. President Biden has proposed a series of sweeping tax changes as outlined below.