c. 2012 San Diego Real Estate Law |
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Estate Tax Planning, 2011 Update
This article describes the estate changes that took
place in the Tax Reform Act of 2010 that should give
some relief to those concerned about the continued
viability of their estate plans and highlight some
estate planning opportunities in 2011.
The most important of these changes is the
reunification of gift and estate taxes. This important
change allows a married couple to gift up to $10
million ($5 M per spouse) to their loved ones tax free
in 2011 and 2012.
This is a terrific opportunity for those who have the
means to lock in this benefit before things change yet
again in 2013. This allows the setting up of an
irrevocable trust that distributes up to $5 million per
spouse to grandchildren and take advantage of the
GST (Generation Skipping Tax) exemption.
What are the goals for my Estate Plan?
I want to schedule a review of my Will/Trust/Estate
Plan.
This article describes the estate changes that took
place in the Tax Reform Act of 2010 that should give
some relief to those concerned about the continued
viability of their estate plans and highlight some
estate planning opportunities in 2011.
The most important of these changes is the
reunification of gift and estate taxes. This important
change allows a married couple to gift up to $10
million ($5 M per spouse) to their loved ones tax free
in 2011 and 2012.
This is a terrific opportunity for those who have the
means to lock in this benefit before things change yet
again in 2013. This allows the setting up of an
irrevocable trust that distributes up to $5 million per
spouse to grandchildren and take advantage of the
GST (Generation Skipping Tax) exemption.
What are the goals for my Estate Plan?
I want to schedule a review of my Will/Trust/Estate
Plan.
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