New Law Brings Great Relief for Californians
BY Admin | March 1, 2021 After years of having homestead laws that were supposed to protect the homeowner, the state of California has finally decided to play the game with the right game piece. State homestead exemptions give protection, up to a certain dollar amount, to a debtor, to protect a home and its equity from seizure by a judgment…
Why the Recent IRS Rule Change Demands a Fresh Approach to Leaving Assets to Heirs
BY Protect Wealth | December 28, 2023Successful estate planning provides peace of mind and ensures smooth ownership transition to the next generation with minimal tax liabilities. However, this intricate process requires careful attention, more so in times of legislative changes. The Internal Revenue Service (IRS) has recently proposed new rules that make a compelling case for revisiting and reinventing existing strategies.…
Heirloom Legacies: Crafting Estate Plans in the Face of Evolving Tax Rules
BY Protect Wealth | December 25, 2023Estate planning, a critical yet often undervalued component of financial planning, serves as a road map that outlines the lifecycle of personal wealth. From providing for your loved ones to funding philanthropic endeavors, a well-structured estate plan ensures your assets transition smoothly to subsequent generations. But as with any journey, changes can and do occur…
A Guide to The Corporate Transparency Act of 2024
BY Protect Wealth | December 21, 2023In the complex terrain of the U.S. financial system, the importance of transparency and accountability cannot be overstated. The "Corporate Transparency Act of 2024" (CTA) is a critical milestone in strengthening the integrity of the U.S. financial system. The key weapon in this legislation's arsenal is eliminating the shadows wherein illicit actors have long thrived.…
Navigating Generational Wealth: Understanding the Recent IRS Increases in Gift and Estate Tax Exempt Limits
BY Protect Wealth | December 19, 2023Successfully managing and transferring wealth across generations has long been a cornerstone of fiscal health for families and individuals. Key to this process is understanding and strategically navigating the complex tax laws that surround these transfers. Among the most critical regulations in this ambit is the estate tax, a levy placed on the estate of…
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