• UPDATED:  2012 Estate Planning Opportunities  — Will They Disappear in 2013?
  • November 29, 2012 | Authors: Barry E. Fink; Miriam J. Golbert
  • Law Firm: Glaser Weil Fink Jacobs Howard Avchen & Shapiro LLP - Los Angeles Office
  • For the balance of 2012, there are unique estate planning opportunities that we may not see again. This year, every individual may pass $5.12 million free of federal gift and estate tax to children, grandchildren, more remote descendants or other family members. Any transfers of wealth more than $5.12 million per person will be taxed at a 35 percent rate. In addition, if transfers are made to include grandchildren or more remote descendants, the $5.12 million will be exempt from the additional generation-skipping transfer (GST) tax.