LexisNexis® Legal Newsroom
Foreigners Using U.S. Gift Tax Exemption to Their Benefit

In a recent online edition of Private Wealth , Beth Tractenberg and Kathryn von Matthiessen discuss the nexus between people from a foreign nation living in the U.S. and the current Gift Tax exemption. The authors first break down the difference between foreigners Domiciled in the U.S. versus those...

Better file that 709

Making gifts can be a useful tool in your estate planning toolbox. I often talk with clients about how gifting can fit into probate avoidance strategies , minimize estate taxes , or even hasten eligibility for Medicaid benefits . Under current federal law, any gift you make over $13,000 in any given...

Obama's 2013 Revenue Proposals

The White House has issued its 2013 fiscal year revenue proposals , with estate and gift tax changes consistent with administration's earlier stance on those rules. Beginning next year, the estate tax exemption would decrease to $3.5 million and the rate would increase to 45%. Spousal portability...

Power to Substitute & End of Year Planning

By: David R. Schoenhaar, Esq.* If you are currently planning for clients to use the historically high gift tax exemption amount before the end of the year, you are becoming acutely aware that time is running out. Whether it is the appraisal companies refusing to take new business or the closing...