Estate Planning

Coordinated With Your Complete Financial Picture

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You spend a lifetime building wealth. Estate planning is how you determine who receives it, in what form, and with what tax consequences. Done well, it is one of the most meaningful things you can do for the people you care about.
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Estate Planning Is Not Just About What Happens After You Are Gone

Many of the decisions that matter most in estate planning happen while you are alive — beneficiary designations, trust structures, gifting strategies, and the coordination between your financial plan and your estate documents. Most people update their will once and consider it done. The reality is that tax law changes, family circumstances change, and account balances change — all of which affect whether your estate plan still does what you intend it to do.

At Canter Wealth, estate planning is integrated into your financial plan — not treated as a separate legal exercise. We work alongside your estate attorney to help ensure your investments, account titling, beneficiary designations, and trust structures are all aligned.

What a Complete Estate Plan Addresses

Wills and Trusts

A will determines how your assets are distributed after death. A revocable living trust does the same, but avoids probate, maintains privacy, and allows for more efficient transfer of assets to beneficiaries. In California, where probate can be costly and time-consuming, a living trust is often the preferred structure for clients with significant assets. We help you understand which structure is appropriate and coordinate with your estate attorney to implement it.

Beneficiary Designations

Your IRA, 401(k), life insurance, and annuity accounts pass directly to named beneficiaries regardless of what your will says. A will does not override a beneficiary designation. We review all beneficiary designations as part of your financial plan to help you make sure they are current, consistent with your estate documents, and structured to minimize income tax for your heirs.

Power of Attorney and Healthcare Directives

A durable power of attorney designates someone to manage your financial affairs if you become incapacitated. A healthcare directive documents your medical wishes. These documents are foundational, and frequently overlooked until a crisis makes them urgent.

Gifting Strategies

Annual gifting, 529 plan contributions, and the direct payment of tuition or medical expenses are all ways to transfer wealth tax-efficiently during your lifetime.

The annual gift tax exclusion for 2026 is $19,000 per recipient — meaning you can give $19,000 to as many individuals as you choose each year without filing a gift tax return and without reducing your federal lifetime exemption. For a married couple, that is $38,000 per recipient per year. Gifts of any amount that go directly to a medical provider or educational institution for tuition are also excluded entirely.

For clients with larger estates, these annual exclusion gifts — used consistently over time — can meaningfully reduce the taxable estate. The federal lifetime estate and gift tax exemption is approximately $15 million per individual ($30 million for married couples) under current law, and annual exclusion gifts do not count against it.

Source: IRS.gov

Charitable Giving

Donor-Advised Funds, Charitable Remainder Trusts, Qualified Charitable Distributions from IRAs, and direct gifts of appreciated securities are all tools that allow you to give meaningfully while reducing taxes. We help you identify which approach produces the best outcome given your income, tax situation, and charitable goals.

Trust Structures

Beyond a basic revocable living trust, certain clients benefit from Irrevocable Life Insurance Trusts (ILITs), Spousal Lifetime Access Trusts (SLATs), Grantor Retained Annuity Trusts (GRATs), or other advanced structures. We work with your estate attorney to evaluate whether these are appropriate for your situation.

Generation-Skipping Transfer

For clients who want to transfer wealth to grandchildren or further descendants while minimizing transfer taxes, generation-skipping trust structures and the GST tax exemption are important planning tools. We coordinate this analysis with your estate attorney.

Estate Planning in California Is Different. Here Is Why.

No California Estate Tax, but Income Tax on Inherited IRAs

California has no state estate tax. However, inherited traditional IRA and 401(k) accounts are taxed as ordinary income by California at rates up to 13.3% when beneficiaries take distributions. This makes IRA beneficiary designation structure and Roth conversions a significant estate planning consideration.

Community Property State

California is a community property state. Assets acquired during marriage are generally owned equally by both spouses. A surviving spouse in California may receive a full step-up in basis on community property, a significant tax advantage that may require proper titling to capture.

Stepped-up Basis Planning

When an appreciated asset passes at death, its cost basis is stepped up to the fair market value at the date of death eliminating the capital gain that would have been owed if sold during the owner's lifetime.

Proposition 19 Impact

California's Proposition 19 significantly changed property tax reassessment rules for inherited real estate. Only a primary residence transferred to a child who uses it as their primary residence qualifies for the parent-child exclusion, and only up to $1 million in assessed value difference. Other inherited real estate is reassessed at current market value.

Federal Estate Tax Exemption — 2026

The federal estate tax exemption is approximately $15 million per individual ($30 million for married couples) under current law. Clients with estates below this threshold have no federal estate tax exposure, but should still plan for income tax on inherited retirement accounts and California-specific rules.

Coordinating With Your Estate Attorney

Estate documents are prepared by licensed estate attorneys. We coordinate the financial planning side of your estate with the legal side — reviewing your accounts and beneficiary designations for misalignment, identifying tax planning opportunities, and keeping your estate plan current as your situation evolves. If you do not have an estate attorney, we can refer you to one we trust in San Diego.

Estate Planning Matters Most If You:

  • Have not updated your will or trust in more than five years
  • Have never reviewed whether your beneficiary designations match your estate plan
  • Have significant assets in traditional IRA or 401(k) accounts that will pass to heirs as taxable income
  • Own real estate in California and want to understand the Proposition 19 implications
  • Want to give meaningfully to charity in a tax-efficient way
  • Have a blended family, minor children, or a family member with special needs
  • Have a taxable estate and want to understand your gifting options
  • Simply have not thought about this yet and know you should

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FAQs About Estate Planning in San Diego

Yes. A pour-over will works alongside a living trust to capture any assets that were not transferred into the trust during your lifetime. Without one, those assets may pass through probate rather than according to your trust instructions. Even with a detailed living trust, a will is an essential part of a complete estate plan.

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Your Estate Plan
Should Reflect Your Financial Plan

Canter Wealth works with pre-retirees, retirees, and families in San Diego and La Jolla to help ensure their estate plan and their financial plan are fully coordinated — not operating independently of each other..

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The information on this page is for general educational purposes only and does not constitute legal, tax, or investment advice. Estate planning involves legal documents that must be prepared by a licensed attorney. Canter Wealth Management is a registered investment advisor and does not practice law. Tax information reflects 2026 law and is subject to change. Please consult a qualified estate attorney, CPA, and financial advisor before making estate planning decisions.