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- "Do I Qualify For Financial Assistance For Nursing Home Care?"
- Free Asset Protection Seminar For Anyone Considering Long Term Care Planning
- Medicaid and Caregiving: Who Are the Ones Taking the Lead?
- Medicaid Compromise in Health Care Bill On the Chopping Block
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Posted on 4/29/2010 - Health Care Debate: Long Term Insurance Overhaul...
Posted on 1/5/2010 - Survey uncovers surprising long-term care myths and facts...
Posted on 10/29/2009 - Healthcare reform may offer another option for long-term care planning...
Posted on 10/25/2009 - Will Pennyslvania lawmakers divert Medicaid stimulus money?...
Posted on 7/29/2009
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Asset Protection
- 10 Reasons to Consider Long-Term Care Insurance
- Solve Eligibility Problems Using the Personal Care Contract
- What Can Seniors and Their Families To Legally Protect Themselves In These Dire Times?
- Gift tax annual exclusion to remain unchanged in 2010. Contact us to see how this factors into your estate plan
- Gift tax annual exclusion to remain unchanged in 2010. Contact us to see how this factors into your estate plan
Gift tax annual exclusion to remain unchanged in 2010. Contact us to see how this factors into your estate plan
The Internal Revenue Service recently announced that the 2010 gift tax annual exclusion will remain unchanged at $13,000. The annual amount of the exclusion is based upon the Consumer Price Index, and the exclusion has increased gradually from $10,000 in 1997 to $13,000 in both 2009 and 2010.
As such, so long as your gifts to an individual are less than $13,000 in 2010, there is no gift tax return required to be filed and no gift taxes are due. A married couple can gift $26,000 to each individual, as each spouse receives an exclusion without creating a gift tax liability.
In addition, there is a $1,000,000 lifetime exemption from the gift tax. This means that even if a taxpayer gives more than $13,000 to a single recipient in a given year, the gift amount above $13,000 will not be subject to tax unless the taxpayer has already given a total of $1,000,000 in taxable gifts in their lifetime.
When it comes to making the right legal and financial decisions pertaining to estate planning, you want the best Pennsylvania Estate Planning lawyers on your side!
If you have any questions or would like a free consultation call us toll free at 1 800 879 0984 or send us a message through our website by clicking here and we'll be certain to respond.
Elder Law Offices of Shields and Boris
109 VIP Drive
Suite 200
Wexford, PA 15090
Phone: (724) 934-5044
Toll Free: (800) 879-0984
Get Directions
Elder Law Offices of Shields and Boris
109 VIP Drive
Suite 102
Wexford, PA 15090
Phone: (724) 934-5044
Toll Free: (800) 879-0984
Get Directions
