The estate tax exemption for 2015 has jumped to $5.43 million per person, up from $5.34 million, due to an adjustment for inflation, the IRS has announced. For a married couple, the combined exemption increases to nearly $11 million, notes a story in the Wall Street Journal. The annual gift exclusion, however, will remain at […]
Read moreThe top tax bracket for the federal estate tax is currently at 40 percent. This might seem high, but as a recent article points out, very few people actually pay this tax. Most estates are entirely exempt from estate tax. There is a $5,340,000 exemption from federal estate tax, meaning that estates valued at up […]
Read moreAs estate planning attorneys, we are often asked, “When should I do my estate plan?” The answer is: “Anyone who is over the age of 18.” Estate planning is critical to everyday living for adults over the age of 18, and should be one of the priorities regardless of your age or marital status. If […]
Read moreWhen the U.S. Supreme Court handed down their ruling last Wednesday, striking section 3 from the Defense of Marriage Act (DOMA) as unconstitutional, the Court radically changed the estate planning laws for many same-sex married couples. Not only are marriages of same-sex couples is now recognized as legal under federal law, but they can now […]
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