by admin | Sep 16, 2011 | Estate Planning, Taxes
A GRAT is an irrevocable trust with a specific term used to achieve the goal of transferring future appreciation of an asset to family members while incurring little or no gift tax. GRATs must satisfy certain requirements under the Internal Revenue Code. To...
by admin | Jun 25, 2011 | Connecticut Estate Planning Attorney Blog, Estate Planning
Estate planning: Complicating news for Connecticut estate planning. This session of the Legislature reduced the Connecticut Estate Tax exemption for property passing to a non-spouse beneficiary from $3,500,000.00 to $2,000,000.00. The reduction of the exemption is...
by admin | Feb 7, 2011 | Connecticut Estate Planning Attorney Blog, Estate Planning, Newsletter
The Tax Relief, Unemployment Insurance Authorization and Job Creation Act of 2010 was signed into law on December 17, 2010. Here are some of the highlights: For calendar years 2011 and 2012, the federal estate tax exemption for property passing to non-spouse...
by admin | Jan 15, 2011 | Connecticut Estate Planning Attorney Blog, Estate Planning, Taxes
A gift tax is imposed on certain transfers (“taxable gifts”) during the life of the donor. The tax is payable by the person making the taxable gift, not the recipient. For 2011 and 2012, the gift tax exemption level is the same as the federal estate tax level of...
by admin | Oct 29, 2010 | Connecticut Estate Planning Attorney Blog, Estate Planning, Trusts
A. Overview. The stand by credit shelter trust is an estate planning tool that allows for the maximum use of the exemption equivalent amount ($1,000,000.00 in 2011 and succeeding years) for each spouse, thereby potentially doubling the amount that can pass to...
by admin | Sep 29, 2010 | Connecticut Estate Planning Attorney Blog, Estate Planning
Dear Friends: As many of you may be aware, the federal estate tax is inapplicable to the estate of anyone who dies in 2010. Although this seems like good news for many families, there are two significant problems created by the same law. The first problem is that...
