Grandparent/Grandchild Exclusion Did you know it’s possible to pass on $1,000,000 to grandchildren and avoid having to pay estate taxes on the bequest? Most people are aware of the Generation Skipping Trust that the Gallo wine family succeeded in getting written into law allowing $1,000,000 to pass to grandchildren free of estate taxes. People may not be aware of a law that allows up to $1,000,000 of real property to escape reappraisal for property tax purposes if passed to grandchildren. Normally when real estate is transferred to another person the property in question is reappraised and property taxes are adjusted accordingly. California...Read More
