Estate Planning Update July, 2013 1. 2013 Annual Gift Tax Exemption: $14,000 per donor, per donee. 2. 2013 Gift and Estate Tax Exemption: $5,250,000 per donor, indexed for inflation. 3. Marital Deduction for Transfers to U.S. Spouse: Unlimited. 4. 2013 Generation Skipping Tax Exemption: $5,250,000 per donor, indexed for inflation. 5. Top rate for Federal [...]
Sometimes the tail does wag the dog. The U.S. Supreme Court struck down a portion of the Defense of Marriage Act (DOMA) which required same-sex couples to be treated as unmarried for purposes of federal law including its estate tax code. The Court found that the provision was an unconstitutional deprivation of the equal protection [...]
After years of uncertainty, we finally have "permanent" estate tax legislation. The federal exemption is set at $5,250,000 and a top tax rate of 40% for estates over that amount. The legislation retained the relatively new concept of estate tax portability. The new exemption amount and the use of the term permanent should give welcome [...]
Quinn DeAngelis, P.C. Kierland Business Center 15849 N. 71st Street, Suite 100 Scottsdale, Arizona 85254 Telephone: 480.281.1512 qdeangelis@azdox.com www.azdox.com ESTATE PLANNING UPDATE August, 2011 1. 2011 Annual Gift Tax Exemption: $13,000 per donor, per donee. 2. Temporary 2011 & 2012 Gift and Estate Tax Exemptions: $5,000,000 per donor; thereafter the Exemptions are currently set [...]
Quinn DeAngelis, P.C. Kierland Business Center 15849 N. 71st Street, Suite 100 Scottsdale, Arizona 85254 Telephone: 480.281.1512 qdeangelis@azdox.com www.azdox.com ESTATE PLANNING UPDATE July, 2010 1. 2010 Annual Gift Tax Exclusion: $13,000 per donor, per donee. 2. Lifetime Gift Tax Exclusion: $1,000,000. 3. 2010 Estate Tax Tax Exclusion: Repealed ($5,000,000 or carryover basis). 4. Marital Deduction [...]
Quinn DeAngelis, P.C. Kierland Business Center 15849 N. 71st Street, Suite 100 Scottsdale, Arizona 85254 Telephone: 480.281.1512 qdeangelis@azdox.com www.azdox.com ESTATE PLANNING UPDATE July, 2009 1. 2009 Annual Gift Tax Exemption: $13,000 per donor, per donee. 2. Lifetime Gift Tax Exemption: $1,000,000 per donor. 3. 2009 Estate Tax Exemption: $3,500,000 per donor. 4. Marital Deduction for [...]
Quinn DeAngelis, P.C. Kierland Business Center 15849 N. 71st Street, Suite 100 Scottsdale, Arizona 85254 Telephone: 480.281.1512 qdeangelis@azdox.com www.azdox.com ESTATE PLANNING UPDATE December, 2008 A new law enacted in late 2008 provides that retirement plan account participants, IRA owners, and their beneficiaries do not have to take RMDs for 2009. (Code Sec. 401(a)(9)(H)) Thus, [...]
Quinn DeAngelis, P.C. Kierland Business Center 15849 N. 71st Street, Suite 100 Scottsdale, Arizona 85254 Telephone: 480.281.1512 qdeangelis@azdox.com www.azdox.com ESTATE PLANNING UPDATE July, 2008 1. 2008 Annual Gift Tax Exclusion: $12,000 per donor, per donee. 2. Lifetime Gift Tax Exclusion: $1,000,000. 3. 2008 Estate Tax Tax Exclusion: $2,000,000. 4. Marital Deduction for Transfers to U.S. [...]
Quinn DeAngelis, P.C. Kierland Business Center 15849 N. 71st Street, Suite 100 Scottsdale, Arizona 85254 Telephone: 480.281.1512 qdeangelis@azdox.com www.azdox.com ESTATE PLANNING UPDATE July, 2007 1. 2007 Annual Gift Tax Exclusion: $12,000 per donor, per donee. 2. Lifetime Gift Tax Exclusion: $1,000,000. 3. 2007 Estate Tax Tax Exclusion: $2,000,000. 4. Marital Deduction for Transfers to U.S. [...]
Quinn DeAngelis, P.C. Kierland Business Center 15849 N. 71st Street, Suite 100 Scottsdale, Arizona 85254 Telephone: 480.281.1512 qdeangelis@azdox.com www.azdox.com ESTATE PLANNING UPDATE July, 2006 1. 2006 Annual Gift Tax Exclusion: $12,000 per donor, per donee. 2. Lifetime Gift Tax Exclusion: $1,000,000. 3. 2006 Estate Tax and Gift Tax Unified Credit: $2,000,000. 4. Marital Deduction for [...]
