LexisNexis® Legal Newsroom
Make Large Gifts Now, Pay More Tax Later

If you make big gifts in 2011-2012, what happens when you die in 2013 and beyond? Right now, and continuing through 2012, there is a gift tax/estate tax/GST exemption amount of $5,000,000 per person. We have discussed before what a fantastic opportunity this can be for wealthy families to do transfers...

Review of Existing Estate Plans in Light of 2011 Federal Tax Law Changes

By: David R. Schoenhaar, Esq.* As of January 1, 2011, new legislation went into effect that: (i) significantly changed the Federal estate, gift and generation-skipping transfer ("GST") tax rates, (ii) unified exemption amounts and (iii) introduced the concept of "portability"...