by Allison DePaola | Jan 14, 2015 | Connecticut Estate Planning Attorney Blog, Estate Planning, Medicaid and Long Term Care, Taxes
Gift and Estate Tax: The federal lifetime exemption for property passing to non-spouse beneficiaries has been increased to $5,430,000.00. The Connecticut lifetime exemption for property passing to non-spouse beneficiaries remains $2,000,000.00. There is still an...
by Allison DePaola | Dec 17, 2014 | Connecticut Estate Planning Attorney Blog, Estate Planning, Medicaid and Long Term Care, Taxes
Many people assume that the annual federal and state gift tax exclusion of $14,000.00 per recipient also applies if you file a Medicaid application. That is not true! Gift tax rules are very different from Medicaid eligibility rules. Gift tax rules: The current annual...
