Monday, January 26, 2015
As the new year unfolds, we find that despite the challenges that many people are facing that there are always things to cheer about and to be thankful for. Once such "good news" item that happened in 2014 is the increase in estate tax exemptions to $5.3+ million. This increase means that most people no longer need to worry about the possibility of incurring an estate tax when they pass away. Instead, we can simplify our trusts and focus more on minimizing income taxes for our beneficiaries. If you have any concerns regarding the estate tax exemption, please feel free to contact our office.