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Redwood City, CA 94062
Thank you for your interest in attending our webinar, “Living Trusts and Capital Gains – Are Changes Coming?”. To register for the event, please fill out the form below.
Date: Thursday, May 6th, 2021
Featuring Legal Insights from Attorneys Bob Vale and Roxanne Jen, of McDowall Cotter Attorneys at Law
*Event sponsored by the Realtors at RealSmart Properties*
With a new administration now in control at the White House and in Congress, a lot could change in the coming months with regards to tax law. Among the items we could see significant changes are capital gains tax rates, income tax rates, 1031 exchange laws and the ability to pass on a stepped up basis – all of which could have implications for you personally, as well as your living trust.
Living trusts are incredibly useful and important tools for protecting your assets from creditors, lawsuits, and major relationship shifts, but they do not protect against everything, and it is important to understand what their limitations are and how they function.
There are many common misconceptions about living trusts. One is that if your assets are held in a living trust, they are protected from estate tax, income taxes, or capital gain taxes. Unfortunately, that is not the case. Another misconception is that once you set up your living trust, it is good for life and never needs to be updated. The truth is that living trusts should be reviewed and updated regularly to ensure that it contains any newly acquired property, reflects changes in family status like number of children or marital status, and is current with the ever changing federal and state tax laws….which could be changing again in 2021.
This webinar will address these misconceptions and cover many more topics related to living trusts and capital gains. There will also be plenty of time for Q&A with our legal experts at McDowall Cotter, Attorneys at Law.