Bynum Legal Warn That Failing to Sign a Will Can Mean Losing Huge Sums in Inheritance
Recently congress set the “federal” estate tax exemption at the level of $5,125,000 per person providing certainty for now regarding the size of an estate which would be taxable following decades of constant change in the arena. The size of the federal estate tax exemption has left many with a false sense of security with respect to the type of planning that needs to occur with respect to their estate. For example, in California although less than one percent of the population will be subject to the “federal estate” tax, nearly anyone who owns their home or has an estate that exceeds $150,000 will have an estate subject to probate!