April 2022, 16th Ed.
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For 2022, the IRS made small changes to the federal estate tax and annual gift tax exemptions, mainly adjusting for inflation.
The value of an estate that qualifies for the "small estate" probate shortcut in California changed again in 2022.
California passed new legislation, effective January 1, 2022, requiring that transfer on death (TOD) deeds be signed by two adult witnesses. The witnesses cannot also be named as beneficiaries (recipients of the property upon the owner's death) on the deed.
In November 2020, California voters passed Proposition 19, which limits the ability to avoid property tax reassessment when property passes between parents and children.
As of April 6, 2017, Ohio residents can now choose to end an UTMA custodianship at any age in the range of 18-25.