Liquidating trust tax

Posted by / 12-Mar-2016 16:43

An individual can give away up to ,000 per year per recipient (effective Jan.1, 2013) to as many recipients as desired, without incurring any gift tax or affecting the unified lifetime gift tax exemption, currently .45M per individual.If you have substantial assets, the Florida estate planning attorneys of The Karp Law Firm can help you minimize, and sometimes eliminate federal estate taxes, allowing your heirs to inherit the maximum amount of tax-free money.Regardless of the value of an estate, most people want their assets to be distributed to their own family members.Lucie can help you craft an estate plan best suited to your family and financial circumstances.

A married couple with two children can transfer ,000 per year (,000 per child per parent) and each spouse will still retain the .45M exemption.There are no restrictions on who you may make gifts to.In addition to your family members, you may make gifts to any individual up to ,000 per year without affecting your gift tax exemption.These gifts are not tax-deductible for you, or income taxable to the recipient.With today's high divorce and remarriage rate, making sure your money ends up in the right hands requires careful estate planning, too.

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One thought on “liquidating trust tax”

  1. Where and why would one add "millions of years" to an account that consists of tight chronologies that lead back to a creation week in which "in six days the LORD made heaven and earth" (Exodus )?