The current 2020 unified federal estate and gift tax lifetime exemption amount is $11.58 million.  This amount is scheduled to increase with inflation through December of 2025, at which point it reverts back to the 2017 level of $5 million.

The Biden team is just beginning to look into ways to capture some of the stratospheric increases in wealth during the last few years.  As of today they include the elimination of step-up in basis for inherited assets and being even more aggressive than the sun set provisions, lowering the exemption amounts to 2009 of $3.5 million for estates and … Read More

California is facing some interesting hurdles right now, even outside of the recent wave of COVID-19 and threat of forest fires. Rising commercial office space vacancies, small businesses closing down, and record unemployment and poverty numbers are, however, facing every state in the Union.

The uniqueness of California comes from its position to recover from the economic fallout. As one of the largest economies in the world, California has the tools, population and culture to rebound quickly and thoroughly.

Property values have remained high, even continuing to increase in suburbs and areas outside of the city centers. California’s state government … Read More

The United States Patent and Trademark

Office has released the fee schedule for 2021,

available on its website available at https://www.uspto.gov/learning-and-resources/fees-and-payment/uspto-fee-schedule.… Read More

As we enter the new year, it’s a good time to do what HVP Law calls a legal checkup. This is a yearly review of your needs for your life, businesses and estate.

For the estate planning side of things, we like to review the status of things through the year to ensure your wishes are properly recorded in your documents. Have there been any changes in your holdings? Did you move? Are there new family members? Are there any new desires for decision makers? Are your beneficiaries current?

For the business side of things, it is prudent to do … Read More