Changes in Estate Planning

The IRS recently reported the number of estate tax returns filed declined 87% from about 73,100 filed for decedents dying in 2003 to about 9,400 filed for decedents dying in 2012.  This is due to the fact the gross estate filing threshold increased from $1 million in 2003 to $5.12 million in 2012.  This shrinkage[…]

Estate and Gift Tax Planning for the end of 2012

During the past few years, planning for estate taxes has been complicated by uncertainty.  In 2009, we kept expecting Congress to extend the estate tax to 2012; however, they failed to do so and in 2010 we had no estate tax.  A clarification, Congress passed a law to allow executors of estates for individuals who[…]