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The Goralka Law Firm
Founder of The Goralka Law Firm, John M. Goralka assists business owners, real estate owners and successful families to achieve their enlightened dreams by better protecting their assets, minimizing income and estate tax and resolving messes and transitions to preserve, protect and enhance their legacy. John is one of few California attorneys certified as a Specialist by the State Bar of California Board of Legal Specialization in both Taxation and Estate Planning, Trust and Probate.
A confluence of financial conditions during this challenging time means that some families with very large estates may want to consider taking steps soon that could potentially help them avoid paying federal estate taxes later.
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If you are quarantined or under a lockdown and can't get to a notary, how can you get your will, trust and other documents executed? Don't give up. There are ways to get it done without leaving home.
Unless you take action, you could be facing some unpleasant tax consequences.
A few moves could have saved the loved ones of actor Philip Seymour Hoffman a lot of money. Even if you don’t have a $35 million estate, like Hoffman’s, there are some things you could learn from it.
With all the electronic bill paying and online banking that goes on today, it's important to make provisions for them. Otherwise, things could get tough for your loved ones later on.
If President Trump gets his way, the days of the federal estate tax may be numbered — but if it's repealed, California may have an equivalent state tax ready to take its place.
Potential tax-law changes may turn estate planning upside down, but you still need to make a plan as soon as possible.
Johnny Depp and Amber Heard could've saved themselves a lot of grief if they'd had a prenup. Learn from their mistake.
Consider taking some last-minute action to save your beneficiaries from having to deal with extra costs.
Even without his level of wealth or musical legacy, you should be sure to have a plan in place for everything you want to leave behind after you die.
You can also save money on net investment income taxes.
In addition to your monetary assets, you should consider what "value legacy" you plan on leaving to your heirs.