Trusts and Estates
Ca. Trs. & Estates Quarterly 2023, VOLUME 29, ISSUE 1
Content
- Capacity and Susceptibility To Undue Influence: a Neuropsychiatrist's Perspective
- Chairs of Section Subcommittees
- Editorial Board
- Letter From the Chair
- Letter From the Editor
- Litigation Alert
- McLe Self-study Article 2022 Legislation: New Laws That Trust and Estate Practitioners Should Know
- McLe Self-study Article Elusive Lucidities: Eyford V. Nord and California's Delusion Doctrine
- Pipe Dreams Can Come True: Gifting Opportunities 2023 and Onward
- Tax Alert
- MCLE SELF-STUDY ARTICLE ASSEMBLY BILL 1663 "PROTECTIVE PROCEEDINGS": LESS-RESTRICTIVE ALTERNATIVES TO CONSERVATORSHIP
- Tips of the Trade You Don't Always Need a Formal Appraisal
TIPS OF THE TRADE YOU DON’T ALWAYS NEED A FORMAL APPRAISAL
Written by Bruce Givner, Esq.* and Owen Kaye, Esq.*
I. INTRODUCTION
A. Parents’ Interest in Estate Tax Planning
Mom and Dad, ages 65 and 55, meet with Ernie the Estate Tax Lawyer, to discuss estate tax planning. They have 20 small apartment buildings, located in West Los Angeles. The buildings have $50,000,000 in equity and generate a 3% return. Mom and Dad have other significant assets including a valuable principal residence, a ranch in Wyoming, brokerage accounts, interests in private equity deals, crypto, and large IRAs. They have three children, have not used any of their lifetime transfer tax exclusion, and their entire estate is community property.