Kevin J. Moore recently spoke to Provisors Pasadena II group about the ABC’s of living trusts. He discussed the estate tax law changes that became effective in 2011 and how that necessitated changes in the structure of living trusts post-2011. Living trusts are now structured in new ways. Under pre-2011 estate tax law, you may have created a B Trust, or an A,B,C, Trust, now there is more of a […]
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Posts Tagged ‘Estate tax law’
Sam is young and in love. He marries and has children, but eventually the marriage fails. He ends up in a second marriage with Trina, who already has two children of her own. After Sam’s death, the children from his first marriage learn that their father’s estate will pass to their stepmother and then to her children. What went wrong? The short answer is that Sam failed to protect the […]
Read MoreOn January 1, 2013, when Congress made the Estate Tax Law permanent, it set the exemption for estate and gift taxes at $5.25 million, per person, and it allowed any person’s unused estate and gift tax exemption to be carried over by their surviving spouse (i.e. “portability”). As a result, very, very few couples are now subjected to estate and gift taxes or are ever likely to be. Therefore, for […]
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