Time to meet your estate and gift planning objectives
Since the Bush tax cuts of 2001 and 2003, the U.S. Income and Estate Tax planning arena has been a roller coaster ride for those with large assets. On January 2, 2013, the American Taxpayer Relief Act was signed into law, providing stability to planning for estate, gift, and generation-skipping transfers, with a Unified Tax Exemption of $5,120,000 indexed for inflation. With the inflation index, the Unified Tax Exemption for these transfers is now $5,430,000 in 2015. In addition, the Annual Gift Tax Exclusion for 2015 is $14,000. With these unprecedented tax exemptions, there may be no better time to complete your estate and gift planning objectives.