Thursday, November 15, 2012
Bruce Givner (Parnter, Law Offices of Givner & Kaye, PC) and Owen Kaye (Partner, Law Offices of Givner & Kaye, PC) recently published an article entitled, Come For the Exclusion, Stay for the Interest Rate. An abstract of the article provided by Wealth Strategies Journal is available below:
Much is being written about the opportunity to use the $5,120,000 per person gift tax exclusion before it is reduced to $1,000,000 on January 1, 2013. The other time pressure to plan is the increase on that same date in the estate and gift tax rate from 35% to 55%. Of course, it is wonderful to have so many families come to our offices now wanting to engage in planning. However, the reality is that for most families with modest size estates - and for this purpose we mean estates of $30,000,000 and less - the current estate tax exclusion is not the most significant factor in achieving their planning goals.