You may know the net value of your estate as it stands today, but what will it be on the day you die? There is one important reason to get this right. It concerns the estate tax, and if your holdings on that date exceed the exemption limit, between 45 and 55 percent of your net worth will be heading straight to the government. This amount will come on top of any probate expenses and final income tax filings, and within nine months after your death, the Internal Revenue Service will expect your executors to cough it up in cash.
Fortunately, there is an answer. It involves reducing the size of your estate, and that’s where San Diego Legacy Law can help. Contact us today to learn more.