Estate Tax Planning
California Estate Planning Attorneys
As a trusted Ventura County estate planning firm specializing in family limited partnerships, irrevocable life insurance trusts (ILITs), charitable trusts, living trusts, and probate administration, we frequently help clients navigate federal estate tax rules to protect their legacy and minimize taxes.
Read our updated frequently asked questions below for clear insights into current estate tax planning.
For personalized guidance or a free consultation to determine if advanced planning fits your situation, or if you would like a free consultation to learn if estate planning is right for you, please do not hesitate to contact us at (805) 482-2282, or e-mail us.
Estate Tax Planning FAQs (2026 Update)
The Role of Estate Planning for Californians
Estate planning is the broad process of organizing asset distribution and guardianship, while estate tax planning is a specialized subset focusing solely on reducing federal or state taxes on those assets. Everyone needs an estate plan, but only high-net-worth individuals typically need advanced estate tax planning to minimize tax liability.
With the exemption now permanently higher and stable, many families have greater flexibility—but thoughtful strategies like irrevocable trusts, gifting programs, family limited partnerships, or charitable planning remain powerful tools for wealth preservation, creditor protection, and philanthropy.
Our experienced team serves clients throughout California, with particular focus on Ventura County communities including Simi Valley, Thousand Oaks, Westlake Village, Agoura Hills, Moorpark, Camarillo, Fillmore, Ojai, Oxnard, Port Hueneme, and Santa Paula.
As members of the California Bar Association, we bring deep knowledge and a client-first approach. Many clients come to us after challenges with prior advisors—we prioritize competence, attention to detail, and long-term results.
Recent Updates for High Net Worth Families
As of January 1, 2026, the federal estate, gift, and generation-skipping transfer (GST) tax basic exclusion amount is $15,000,000 per individual (up from $13,990,000 in 2025). This higher exemption was made permanent (with annual inflation adjustments starting in 2027) under the One Big Beautiful Bill Act (OBBBA), signed into law in July 2025. It eliminates the prior sunset risk from the 2017 Tax Cuts and Jobs Act (TCJA).
- For married couples utilizing portability, this means a combined exemption of up to $30,000,000.
- The federal estate tax rate on amounts above the exemption remains 40%.
- California has no state-level estate tax or inheritance tax, so only federal rules apply here—making planning simpler for California residents.
If your net worth (including life insurance, retirement accounts, real estate, investments, and business interests) is well below $15 million, federal estate taxes are unlikely to apply. You may not need specialized estate tax strategies, but comprehensive estate planning (e.g., revocable living trusts to avoid probate) is still essential for asset protection, privacy, and smooth transfer to your loved ones.
If your estate approaches or exceeds $15 million (or you anticipate growth), proactive estate tax planning can significantly reduce or eliminate exposure.
Portability of Unused Exemption
The TCJA (continued under OBBBA) allows the executor of a deceased spouse’s estate to “port” any unused exemption to the surviving spouse. This requires filing Form 706 (United States Estate Tax Return) to elect portability—even if the estate is below the filing threshold.
To preserve this valuable option:
- We recommend considering a Form 706 filing for any deceased spouse’s estate over approximately $5–7 million (a conservative safeguard, even though the current threshold is much higher).
- Proper planning ensures the surviving spouse can fully utilize both exemptions.
Bring Peace of Mind to You and Your Loved Ones
Our firm proudly serves all of California but in particular the following Southern California and other Ventura County communities: Simi Valley, Thousand Oaks, Westlake Village, Agoura Hills, Moorpark, Camarillo, Fillmore, Ojai, Oxnard, Port Hueneme, and Santa Paula.
Members of the California Bar Association
