Questions answered about estate tax exemption and related issues

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As you probably know by now, the issue of the estate tax exemption was finally resolved by Congress without major changes being made.

The lifetime exemption will remain at $5.12 million, although the tax rate for amounts over the exemption increased slightly, from 35 percent to 40 percent.

And the annual gift tax exclusion rose to $14,000 for 2013.

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Published In: Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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