Here is an interesting portion of an article by Michael D. Whitty discussing some estate planning considerations for the latter part of 2012. Conditions Remain Favorable for Lifetime Gifts and Other Estate Planning Transactions As covered in our August Estate Planning Notice, the combination of a higher gift tax exemption through 2012 and low … Continue reading Estate Planning Update for Fall of 2012
This is a brief estate and gift tax update for 2012 . (UPDATED) For an estate of any decedent dying during calendar year 2012, the basic exclusion from estate tax amount is $5,120,000, up from $5,000,000 for calendar year 2011 and the estate tax rate will be 35%. The lifetime gift tax exemption … Continue reading Brief Estate and Gift Tax 2012 Update
McDermott Bill: “Making the Estate Tax Fair and Equitable Again” For Immediate Release: November 17, 2011 WASHINGTON, DC – Today, Congressman Jim McDermott (D-WA), a senior member of the House Ways and Means Committee, introduced the “Sensible Estate Tax Act of 2011” to restore fairness to the estate tax. It is the first estate tax reform … Continue reading McDermott's "Sensible Estate Tax Act of 2011"