According to data from the U.S. Bureau of Labor Statistics, roughly 30% of American households can expect to receive some sort of wealth transfer (inheritance) in their lifetime. Understandably, those who receive this inheritance will want to know how this new wealth will affect their lives, and central to this is being able to answer the question, “Is my inheritance taxable?” since taxes could reduce the total amount you receive.
I have nearly three decades of experience helping people through their estate planning and probate cases. My office, based in Los Angeles, California, has given numerous people a new sense of security when planning their future.
Though no one wants to think about dying, establishing wills, trusts, and powers of attorney can save you — and your loved ones — time, money, and stress as your estate goes through probate. With an adequate estate plan in place, your loved ones can avoid legal complications and focus on what matters most.