Friday, January 10, 2014
Increased exemptions for estate, GST, and gift taxes (as well as increases to the gift tax exclusion) create greater flexibility for estate planning, as taxpayers can now make larger lifetime gifts, leverage more assets through various estate planning techniques, and shift income producing assets to individuals subject to lower taxes. These changes have extensive implications for existing and new estate plans.
See Personal Planning Strategies - December 2013, JD Supra, Dec. 19, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.