Trusts & Estates
Oct. 16, 2012
Estate lawyers profit from tax uncertainty
Estate planning lawyers have been scrambling to advise their very wealthy clients on how to take advantage of unprecedented low tax rates and generous exemptions before they expire at the end of the year.
Daily Journal Staff Writer
Estate planning lawyers have been scrambling to advise their very wealthy clients on how to take advantage of unprecedented low tax rates and generous exemptions before they possibly expire at the end of the year.
This year, estate transfers and gifts to beneficiaries have a tax exemption of $5.1 million, and estate and gift transfers in excess of that are taxed at a 35 percent rate.
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