Creating an estate plan is often much more than deciding what property should go to whom. Usually, a person must think about his or her own future in addition to what should happen to the estate. For example: What should happen when you reach an age where you are...
Month: December 2012
Gift taxes to increase in 2013
On Behalf of Cushing & Dolan, P.C. | Dec 14, 2012 | Estate Planning
In 2012, Americans could give up to $5.2 million worth of gifts before being taxed 35 percent on additional gifts. Next year, that amount drops to $1 million and gift-givers may face a tax rate of up to 55 percent. While it is possible that Congress will extend the...
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