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 July, 2012 1. 2012 Annual Gift Tax Exemption: $13,000 per donor, per donee. 2. Temporary 2012 Gift and Estate Tax Exemption: $5,120,000 per donor; Exemption scheduled to return to $1,000,000 per donor [...]
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 Lifetime Gift Tax Exclusion: $1,000,000. 3. 2010 Estate Tax Tax Exclusion: Repealed ($5,000,000 or carryover basis). 4.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 [...]
