Thought for today – Estate tax --The 2012 American Taxpayer - TopicsExpress



          

Thought for today – Estate tax --The 2012 American Taxpayer Relief Act prevented steep increases in estate, gift and generation-skipping transfer (GST) tax that were slated to occur for individuals dying and gifts made after 2012 by permanently keeping the exemption level at $5,000,000 (as indexed for inflation). However, the new law also permanently increases the top estate, gift, and GST rate from 35% to 40% It also continues the portability feature that allows the estate of the first spouse to die to transfer his or her unused exclusion to the surviving spouse. If you have not reviewed your estate plan now is a good time to make sure you have all your bases covered.
Posted on: Tue, 10 Sep 2013 12:53:43 +0000

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