There’s a new proposed estate tax circulating through the statehouse that may have you feeling a slight amount of angst — not feeling prepared? No need to worry, your C&D financial advisors are here to help you out.

We all know that California taxes can weigh on your financial future in more ways than one. Whether we like it or not, new tax proposals are continually circulating the State Senate in Sacramento. With the highest taxes in the nation as well as the largest economy, California isn’t necessarily a cut and dry place when it comes to finances.

Senate Bill 378 may make things a bit more complicated for some.


Senate Bill 378

State Sen. Scott Wiener, D-San Francisco, proposed Senate Bill 378 to the California State Legislature back in February 2019. The measure aims to raise estate taxes for Californa residents to a mountainous 40% for individuals worth at least $3.5 million and a couple worth $7 million.

Senator Wiener’s plan could create $500 million to $1 billion in new revenue collected for the state’s contribution towards his new “Children’s Wealth and Opportunity Building Fund.” What’s important to clarify is if you fall within that specific tax bracket. If you do, it may affect the financial future of your estate.  


What We Can Do to Help

Whether the bill passes or not, that’s not for any of us to decide. What matters most is that you’re adequately prepared for the future so that holding up the weight of any financial burden is a considerably lighter task.   

C&D boasts exceptional tax professionals that specialize in handling your estate and trust taxes. It takes a lot of time and effort to navigate the muddy waters of a new tax bill. Our innovative team hones in on a given tax proposal and can read between the lines when it comes to protecting your wealth. Here’s what we offer:

  • Calculative estate tax assessment under current plans
  • Strategize alternatives to quantify potential savings
  • Prepare liquidity analysis
  • Assist in communication with family members and beneficiaries
  • Prepare all estate, gift, fiduciary, and non-profit tax returns

For the newly proposed estate tax, Senate Bill 378 is something you want to be ready for handling. Navigating new tax codes isn’t a simple task, and shouldn’t have you feeling like you’re in the dark. We’re here to be by your side every step of the way.

If you want to be able to see a brighter future when it comes to your estate, contact C&D today.