Isn’t estate and gift planning just for the ultra-wealthy? – Estate Planning Q&A
No! Just because the gift and estate tax exemptions are at $5.12 million per person right now, it doesn’t mean you need to have over $10 million to engage in useful planning. We know the exemptions and tax rates are set to change as of January 1, 2013, but we don’t know what they will be. One proposed change is to reduce the gift tax exemption to $1 million, though the estate tax exemption could be higher. Thus, even if