Newport Beach Estate Planning Lawyer Asks: Is It Time to Reassess When You Transfer Wealth?

6:06 pm Asset Protection, Estate Planning, Tax Planning

money gift2 150x150 Newport Beach Estate Planning Lawyer Asks: Is It Time to Reassess When You Transfer Wealth?The 2010 tax laws that increased the lifetime gift tax exemption from $1 million to $5 million still have many wealthy Americans reassessing if it is better to transfer their wealth while they are still living or after they are gone.

Before the 2010 tax laws were passed, it made more economic sense to transfer wealth after death since the gift tax exemption was considerably less than the estate tax exemption. However, the best plan may be what works best for you and your family now.

Some of the advantages of gifting now include:

  • The ability to help cash-strapped beneficiaries now when it may be needed most;
  • If Congress rolls back the gift tax exemption in 2013 — and decides not to grandfather gifts made in 2011 and 2012 – a gift made now would still eliminate the future appreciated value of the gift from an estate.
  • To protect assets, professionals with high malpractice claim risk can transfer up to $5 million into a trust.
  • Unmarried couples have the opportunity to move assets without the tax burden.

Help is available to you by contacting your Southern California financial planning experts today.


2 Responses

  1. Maki Says:

    Can I use some of the content from your site on mine? I will make sure to link back to it :)

    [WORDPRESS HASHCASH] The poster sent us ’0 which is not a hashcash value.

  2. Jeff Matsen Says:

    Email me directly with you contact information and identify the content you would like to use and how you will use it.

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