Annual Gifting Amount

The maximum annual gifting amount to each individual remains $14,000 for both 2016 and 2017.  Spouses combining gifts can give a total of up to $28,000 to a single individual.  You can make gifts to multiple people in a single year. Additionally, Read More

ESTATE TAX PORTABILITY

Window of opportunity The IRS has opened a temporary window to apply for retroactive estate tax portability of the unused exemption amount for decedents who died in 2011, 2012, or 2013.  IRS Revenue Procedure 2014-18 issued in late January provides a window for Read More

ESTATE TAXES AND IRAs

Karen S. Hindson Here are some tips about estate taxes and IRAs. If your estate is large enough to be subject to estate taxes, you need to know that a traditional IRA is subject to estate tax on the IRA value prior to Read More

REVOCABLE TRUSTS AND TAXES

Karen S. Hindson Georgia and South Carolina estate planning clients frequently ask whether creating a revocable trust saves income tax or estate tax.  The answer is that generally, revocable trusts do not avoid income or estate taxes.  Here are some of the rules Read More

2013 ESTATE TAX LAW UPDATE FROM HINDSON AND MELTON LLC

Key features of 2013 estate tax laws after American Taxpayer Relief Act of 2012 (ATRA) include the following.  Information from partner Karen Hindson of the Georgia and South Carolina estate planning firm Hindson & Melton LLC: The exclusion amount of $5 million continues in Read More

Estate Taxes 2012

Everyone wants to know about estate taxes 2012 and beyond.  Congress has increased the exemption from federal estate tax 2012 to $5 million – at least until the end of 2012, when the exemption is currently due to expire.  (The exact exemption Read More

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