Family Estate Planning – Favorably High Tax Exemptions to Expire in 2012
At the beginning of 2011, important changes were made to the way gifts made during life and at death were taxed. Under current law, the amount each person can give cumulatively during their lifetime and upon their death without being subject to tax was $5,000,000. In 2012, that exemption amount will increase to $5,120,000. (It […]