Basic and Advanced Estate Planning and Estate Tax Planning in Western North Carolina. Revocable and Irrevocable Trusts, Life Insurance Trusts, Asset Protection, LLCs, GRATs, IDITs, ILITs, CRATs, CRUTs, Charitable Planning, Business Planning, Business Succession, Estate Administration, Probate.
Monday, November 2, 2009
At least use your Annual Exclusion
At a minimum, if you may be subject to federal or state estate tax, you should take advantage of the annual gift tax exclusion ($13,000 per person as of January 1, 2009) to transfer assets with reduced values to children, grandchildren and others. Ideally, you should make these gifts in trust to provide the beneficiaries protection from divorce, creditors, predators, and themselves.
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