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Increased Gift Tax Exemption Only Temporary: Use It or Lose It?  

Author:  Kenneth A.  Goldstein.

Source: Volume 28, Number 04, Summer 2011 , pp.67-72(6)

Journal of Taxation of Investments

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During the short window while the temporary increase in the amount of the gift tax exemption for 2011 and 2012 is in play, taxpayers can take advantage of a variety of tax-reduction opportunities. While the strategies themselves are not new, the combination of the current economic climate and the increased exemption amount should prompt taxpayers and tax planners to review and perhaps tweak estate plans.

Keywords: 2011 Act gift tax exemption; transfer tax planning, irrevocable trust, transfer of residence, grantor retained annuity trust

Affiliations:  1: Horwood Marcus & Berk Chartered.

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