2024 Changes to Gifting Limits

Author – Peggy Lennon Each year, the IRS sets the amounts that one can give free of federal gift and generation-skipping transfer (GST) tax, to account for inflation. These adjustments impact the lifetime exclusion, which is the amount that one can give free of federal gift and generation-skipping transfer (GST) tax, either at lifetime or...

Thinking About Co-Owning a Property with Your Kids?

Author – Kristen Terranova The housing market in California is notoriously tough, and shows little sign of becoming more affordable any time soon. Increasingly, families are combining resources to purchase or upgrade homes. At Deka Law Group, we regularly advise clients looking to help their children get a first foothold in the housing market, or...

The California End of Life Option Act

Author – Kristen Terranova Since 2016 California has allowed terminally ill adult residents to request medication from a physician that will end their life. In 2022 California’s End of Life Option Act was revised, making significant changes that included a reduction in the required waiting period between a patient’s oral requests from 15 days to...

Estate & Gift Tax Update

Author – Peggy Lennon The IRS has announced the 2023 annual inflation adjustments impacting the estate, gift, and generation-skipping transfer taxes (in addition to many other tax provisions). These can be found in Revenue Procedure 2022-38, published on October 18, 2022. Starting January 1, 2023, the estate and gift tax basic exclusion amount and the...

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