The Wall Street Journal had a short article, “Three Things You Need to Know About Estate Planning” that discusses three topics: the estate tax exemption, the gift tax exemption, and the annual gift tax exclusion.
During tax season, as a reminder in 2015, the estate tax exemption is $5.43 million for a single person meaning a person can leave $5.43 million to anyone without paying estate taxes. In 2015, the annual gift tax exclusion is $14,000 per person.
Marinaccio Law prepares estate planning documents for its clients including drafting revocable living trusts, wills, powers of attorney, and advanced healthcare directives. If you would like to set up an appointment, please contact Anthony at 818-839-5220.
