Assembly Proposes to Reduce Estate and Gift Tax Exemptions to $3.5 Million By- Attorney Kenneth Ziskin

Earlier this year, State Senator Scott Wiener (D – San Francisco) introduced legislation to dramatically increase taxes on wealth transfers by California residents.  This follows the failure of a proposed California Estate Tax initiative to qualify for the 2018 ballot. His bill, SB 378, would put a referendum on the 2020 General Election ballot to…