California and Federal estate and tax planning, with forms
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California and Federal estate and tax planning, with forms by James O. Hewitt

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Published by Callaghan in Mundelein, Ill .
Written in English



  • California.,
  • United States.


  • Estate planning -- California.,
  • Estate planning -- United States.

Book details:

Edition Notes

Includes bibliographies.

Statementby James O. Hewitt and Sidney C. Ward.
ContributionsWard, Sidney C., joint author.
LC ClassificationsKFC894 .H4
The Physical Object
Paginationxviii, 543 p.
Number of Pages543
ID Numbers
Open LibraryOL5549314M
LC Control Number67028317

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Get this from a library! California and Federal estate and tax planning, with forms,. [James O Hewitt; Sidney C Ward]. Judy passes away in (when the federal estate tax exclusion is scheduled to return to the amount, inflation indexed). Judy will have the pre-tax reform federal estate tax exclusion ($5 million, inflation indexed) and $ million of Jim's unused federal estate tax exclusion to offset federal estate taxes.   The Purpose of the Pick-Up Tax. The "pick-up tax" was a state estate tax that was collected based on the state estate tax credit that the IRS allowed on the federal estate tax return, IRS Form , prior to Jan. 1, Each state had different tax laws for the pick-up tax, so the amount that a state would collect varied based on that state's own estate tax laws. Filing Requirements for California Estate Tax Return. A California Estate Tax Return, Form ET-1, is required to be filed with the State Controller's Office, whenever a federal estate tax return Form is filed with the Internal Revenue Service (IRS). However, after January 1, , the IRS no longer allows the state death tax credit; therefore, a California Estate Tax Return is not required.

Form is used by the executor of a decedent's estate to figure the estate tax imposed by Chapter 11 of the Internal Revenue Code. Instructions include rate schedules. Form (PDF). Form to be filed by executors of an estate and other persons required to file Form or Form NA to report the final estate tax value of property.   As of , only estates valued at $ million or more are subject to federal estate tax. A dozen states impose their own estate taxes, and six have inheritance taxes. Important: The California Attorney General does not give legal advice to individuals. If you are trying to decide how to provide for the distribution of your assets or care of your children after you die and you need legal assistance, you should hire your own lawyer. For more information, go to Attorneys/Lawyers page or visit the California State Bar website. client, it now is uncertain whether the federal estate tax will (or will not) be in effect at the death of the client in the future. The primary forms in the book give the trustee instructions for both possibilities. - If the estate tax is in existence, the document’s “reduce estate tax to zero” formula will apply.

California Estate and Gift Tax Planning: Forms and Practice Manual. Prominent California attorney, Diana M. Hastings, Esq., has drawn from her extensive experience to bring you insightful strategies and relevant forms for virtually every estate-planning situation you may encounter, in this newly revised two-volume manual featuring a bonus CD-ROM with more than 80 electronic forms. Federal Estate Tax The federal estate tax is a tax on assets transferred at death and on transfers made during a person's lifetime. However, for most U.S. citizens the federal estate tax is not a problem because the exemption from the tax is $ million, starting Jan. 1, California Estate Taxes. California’s estate tax system is commonly referred to as a “pick up” tax. This is because California picks up all or a portion of the credit for state death taxes allowed on the federal estate tax return (federal form or NA). The undersigned certify that, as of J , the internet website of the Franchise Tax Board is designed, developed and maintained to be in compliance with California Government Code Sections and , and the Web Content Accessibility Guidelines , or a subsequent version, J , published by the Web Accessibility.