Tag Archives: 2015

2015 Estate Tax Exclusion Increase Announced

At the end of 2010 a tax relief act was passed, and provisions within this legislative measure set the estate tax exclusion at $5 million in 2011. The credit or exclusion is the amount that you can transfer to people other than your spouse in a tax-free manner. Because of the existence of the unlimited marital deduction, you can leave any amount of property to your spouse free of the federal death tax. An inflation adjustment was applied for 2012 that set the exclusion at $5.12 million. At the end of that year, the American Taxpayer Relief Act of 2012 was enacted. This measure retained the same exclusion with ongoing inflation adjustments. Throughout 2014 we have been working with a $5.34 million federal estate tax exclusion. Because the year is rapidly coming to a close, the Internal Revenue Service has released the amount of the inflation adjustment for 2015. During the 2015 calendar year, the federal estate tax exclusion is going to be $5.43 million. Unified Exclusion To prevent pe
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Does Your Estate Plan Need Revisions in 2015?

Now that we have settled into the new year, you may be honoring the resolutions that you made. People also tend to matters that have been placed on the back burner when the calendar turns over, and this can apply to estate plan revisions. When you put your initial estate plan in place, it is going to be constructed based on the way that things were at that time. Your own life situation is going to be a big part of it, and there are also laws that are applicable to everyone that could enter into the equation. Estate planning is not something that is necessarily going to be completed in one sitting. It is an ongoing process, and your estate plan will need revisions when certain things take place within your life Changes in marital status would result in the need for estate plan revisions, and additions and subtractions to the family could also be a factor. Plus, your intentions can change with regard to the way that you want your assets to be distributed after you pass away. In addition
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