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2013: Time to Simplify

For the first time in twevle years, there is certainty about the gift, estate, and generation skipping taxes. Congress, in a surprise to most estate planning professionals, continued the 5 million dollar exclusion for all these taxes.  In addition, married couples benefit from the continuation of the "portability" provision which allows, generally, the estate of a surviving spouse to add the unused exemption of the deceased spouse to his or her own exemption.  In 2013, Mom and Dad can leave $10,500,000 to children and grandchildren free of transfer taxes.

The increase in the exclusion and portability will allow most to simplify existing estate plans.

What a Tangled Web We Leave
Will you leave your online and digital life in order after you pass?

Benefits of the 2012 Taxpayer Relief Act of 2012

The American Taxpayer Relief Act of 2012

Collins & Collins, P.A. Attorneys at Law serve clients throughout Upstate South Carolina in Greenville County, Spartanburg County, Anderson County, and bordering North Carolina counties of Henderson and Buncombe and their surrounding areas.

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