Estate, Gift & Trust Tax — Shin S. Oh, CPA (오신석 공인회계사)

How you pass on your home, savings, and business shapes the tax bill your family will face. Gifting a house today versus leaving it through a trust can mean a very different capital gains result, a different property tax reassessment, and a different probate cost.

Shin S. Oh, CPA handles the tax side of estate planning and estate administration at OKLEM CPA GROUP in Los Angeles Koreatown, in English and Korean. Your estate planning attorney drafts the legal documents; we take care of the tax analysis before, and the filings and accounting after.

Who this is for

• Families who want to understand their tax position before meeting an attorney about a living trust

• Parents deciding whether to gift property to children now or leave it at death

• Couples unsure whether their home is held as joint tenancy or community property

• Clients whose trust was signed but never fully funded

• Surviving spouses, trustees, and executors who need to file after a death

• Korean-American families receiving money from parents in Korea, or with parents in Korea who own U.S. assets

Estate Plan Tax Analysis

We map every asset by how it is titled and who is named as beneficiary, then show what happens at death: probate exposure, federal estate tax exposure, capital gains on gift versus inheritance (step-up in basis), and the Prop 19 property tax effect. For 2026, the federal basic exclusion is $15,000,000 per person — $30,000,000 for a married couple using portability — and California has no estate or inheritance tax.

Gift Tax Returns (Form 709)

Gifts above the 2026 annual exclusion of $19,000 per recipient, split gifts between spouses, and gifts of real estate or business interests are reported on Form 709. Most filers owe no tax, but the return still needs to be filed. We also help plan tuition and medical payments made directly, and 529 contributions.

After a Death (Forms 1040, 706, 1041)

Final individual return, federal estate tax return (Form 706), and fiduciary income tax returns (Form 1041) for the trust or estate. Even when no estate tax is due, a Form 706 is usually needed to elect portability so the surviving spouse keeps the unused exclusion. We also document date-of-death values and prepare trust accountings and distribution calculations for beneficiaries.

U.S.–Korea Cross-Border (Forms 3520, 706-NA)

U.S. persons who receive more than $100,000 in a year from a foreign individual or estate must report it on Form 3520; missing it can cost up to 25% of the amount. Parents who live in Korea and own U.S. assets have only a $60,000 estate tax exemption and may need a Form 706-NA. We coordinate with Korean tax advisors on the Korean side.

Working With Your Estate Planning Attorney

In California, drafting trusts, wills, powers of attorney, and deeds — and advising on their terms — is the practice of law. We are a CPA firm and do not provide legal services. We prepare the asset inventory and tax analysis and share it with your attorney (or introduce attorneys we have worked with). The attorney drafts the documents while we review their tax effect. After signing, we track trust funding with a checklist, and we stay on for 709s, the 706 at the first death, annual 1041s, and trust accounting.

How a Consultation Works

Book the Estate Plan Tax Review (60 minutes, $300) online or call (213) 788-3388. Send documents through our secure client portal, meet in office, by phone, or by video with Shin S. Oh, CPA, and receive a one-page summary: asset and title map, estimated costs and taxes, and an action list.

자주 묻는 질문 (FAQ)

Q. 회계사님이 리빙트러스트를 직접 만들어 주실 수 있나요? — 캘리포니아에서 트러스트 문서 작성은 변호사의 업무라서 저희가 직접 작성하지는 않습니다. 재산과 세금을 먼저 정리해 변호사께 넘겨 드리고, 문서가 나온 뒤 계좌와 집이 트러스트로 옮겨졌는지 체크리스트로 확인해 드립니다.

Q. 우리 집 재산이 상속세 대상인지 어떻게 알 수 있나요? — 2026년 기준 연방 상속세는 1인 $15,000,000, 부부가 portability를 신청하면 $30,000,000까지 부과되지 않고, 캘리포니아에는 주 상속세가 없습니다. 본인 소유 생명보험금, 은퇴계좌, 한국 재산까지 모두 합산하므로 목록을 빠짐없이 만들어 보셔야 정확히 알 수 있습니다.

Q. 집을 자녀에게 지금 증여하는 것과 나중에 물려주는 것 중 어느 쪽이 나은가요? — 재산이 공제 한도 아래라면 상속으로 넘기는 쪽이 유리한 경우가 많습니다. 상속받은 집은 사망일 시가로 취득가가 새로 매겨져(step-up) 그동안 오른 부분의 양도소득세가 없어지지만, 증여받은 집은 부모님의 옛 취득가를 그대로 물려받기 때문입니다.

Q. 부모님이 돌아가셨는데 상속세가 없으면 아무 신고도 안 해도 되나요? — 사망 연도 최종 개인 소득세 신고, 트러스트나 유산에 소득이 생기면 Form 1041 신고가 필요합니다. 먼저 돌아가신 분이 배우자라면 Form 706을 제출해 남은 공제액을 생존 배우자에게 옮겨 두는 것이 중요하며, 기한을 놓쳤어도 사망 후 5년 안에는 늦은 신청을 검토할 수 있습니다.

Q. 한국에 계신 부모님께 돈을 받았는데 미국에 신고해야 하나요? — 외국 개인에게 받은 증여·상속이 한 해 합계 $100,000을 넘으면 Form 3520으로 신고해야 합니다. 세금을 내는 신고는 아니지만 빠뜨리면 받은 금액의 최대 25%까지 가산세가 붙을 수 있습니다.

상속 설계 점검 상담 (60분, $300) 예약 또는 전화 (213) 788-3388. This page provides general tax information, not tax or legal advice. Figures are as of 2026. OKLEM CPA GROUP does not provide legal services; legal documents are prepared by attorneys.