Tag Archives: Annual Gift Tax Exclusion

Estate and Gift Tax Aspects of the American Taxpayer Relief Act of 2012

On January 2, 2013, President Obama signed the American Taxpayer Relief Act of 2012 (the “ATRA”) into law.  Failure to pass the new law would have resulted in a significant decrease in the estate and lifetime gift tax exemptions and … more

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Your Estate Planning Checklist for the New Year

The turning of the calendar presents a great opportunity to evaluate whether your financial affairs are in order.  If you do not have an estate plan, it is a good time to resolve to meet with an estate planning specialist … more

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Annual Gift Tax Exclusion Expected to Rise

The annual gift tax exclusion is an amount that an individual can give to as many other individuals as he or she desires in a given year without incurring any gift tax liability.1  On January 1st, the exclusion resets and … more

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Significant Gifting Opportunity to Expire

With the lifetime Gift Tax exemption at the highest it has ever been ($5,120,000 in 2012)1 and Gift Tax rates (capped at 35% in 2012) and Applicable Federal Rates being historically low, 2012 is a perfect storm of gifting opportunity … more

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Estate Planning With Life Insurance

Life insurance can serve many purposes.  Whether you own a policy as income replacement security for your family, through your employer or as an investment asset, life insurance can be a multi-dimensional tool.  However, with all of the financial planning … more

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Year-End Planning

As the end of the calendar year approaches, it is important to take advantage of the annual Gift Tax exemption, which expires on December 31st and cannot be carried forward.  If you are making gifts directly to your beneficiaries, it … more

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Stunning Decision Regarding Notice Requirement

The United States Tax Court has issued a stunning decision regarding the notice requirement for present interest gifts.  As discussed in the December 2010 Newsletter, a present interest gift is one in which the beneficiary has an immediate, unrestricted right … more

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Gifts of Tuition and Medical Care

The Gift Tax was first enacted in 1924 to prevent individuals from making deathbed gifts in order to avoid the Estate Tax.  Today, there is $13,000 annual exemption from the Gift Tax which allows any individual to give any other … more

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Estate and Gift Taxes Beyond 2012

As discussed in the January 2011 Newsletter, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the “Act”) applies to the estates of decedents through 2012.  As a first step towards progress beyond 2012, President Obama’s proposed … more

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The 2011 Estate, Gift & GST Taxes

With the new year, we have new legislation providing updated Estate, Gift and Generation Skipping Transfer Tax provisions affecting decedents dying between January 1, 2010, and December 31, 2012.  Congress has finally given us a long-awaited answer to the question … more

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