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{"id":14272,"date":"2015-02-26T19:36:10","date_gmt":"2015-02-26T19:36:10","guid":{"rendered":"http:\/\/www.seonewswire.net\/2015\/02\/obama-to-upend-current-estate-plans-if-republicans-allow\/"},"modified":"2015-02-26T19:36:10","modified_gmt":"2015-02-26T19:36:10","slug":"obama-to-upend-current-estate-plans-if-republicans-allow","status":"publish","type":"post","link":"http:\/\/www.seonewswire.net\/2015\/02\/obama-to-upend-current-estate-plans-if-republicans-allow\/","title":{"rendered":"Obama to Upend Current Estate Plans, if Republicans Allow"},"content":{"rendered":"

$\"\"$ If\u00a0Obama is to upend current estate plans<\/a>,\u00a0elder-law attorneys are the “best resorts.”\u00a0 Take the tax change proposals our President\u00a0recently made, and which anyone can view<\/a>. These changes\u00a0spell CAUTION for the wealthy and\/or those who’ve worked diligently and saved and invested wisely for themselves, and their progeny.:<\/p>\n

Estate Tax Exemption–The clock may be turned back to 2009, when this exemption was $3.5 million\u00a0each. It’s $5.43 million this year.<\/li>\n

Top Tax Rate–In 2009, this rate was 45%.\u00a0The current 40% may be increased.<\/li>\n

Lifetime Gifts–may go back to $1 million per person. (Right now, you can make “as many $14,000 gifts to as many people as you want”–tax-free.)<\/li>\n

Generation-Skipping Trusts(GSTs)–could be limited to $1 million a person,\u00a0and “limited in duration.”<\/li>\n

Life Insurance–There’s a possible “$50,000 overall limit for certain gifts, such as transfers to trusts, or family limited partnerships.”\u00a0 So, irrevocable life insurance trust premiums would be\u00a0capped at\u00a0$50,000.<\/li>\n

Elimination of Stepped-up Basis–“Heirs would have to pay capital gains tax on (more…)<\/span><\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"
If\u00a0Obama is to upend current estate plans,\u00a0elder-law attorneys are the “best resorts.”\u00a0 Take the tax change proposals our President\u00a0recently made, and which anyone can view. These changes\u00a0spell CAUTION for the wealthy and\/or those who’ve worked diligently and saved and invested…<\/span><\/p>\n
Read more ›<\/a><\/div>\n
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