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Gift Now and Avoid Estate Tax

If you have a net worth of $1M or more (or as a couple, $2M or more), and act now, you could forever remove the threat of estate tax. But if you don’t act by the end of the year, you will miss a historic opportunity. The 2012 estate tax exclusion and gift tax exclusion are both $5,120,000 - way higher than they have ever been. But unless Congress and the President…

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10. Estate and Gift Tax – Part 1

This is part 10 in my series, Estate Planning – What You Need to Know. Part 10. Estate and Gift Tax - Part 1 The estate tax, aka the death tax, and the gift tax are separate but related. Let’s start with the estate tax. Estate Tax The estate tax is the tax the federal and state government levies on your estate when you die. The tax is based on the value…

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