Laurie Hall | Edwards Wildman

1. Laurie Hall’s Sound Off:
Estate Planning and the Uncertain State
of the $5.12 Exemption
© 2012 Edwards Wildman Palmer LLP & Edwards Wildman Palmer UK LLP

2. Year End Forecast.
♦ If the Bush tax cuts are extended, it’s likely the $5.12m exemption
will be extended along with them
♦ If not extended, 2012 could represent a one time opportunity to
give away more than $5m, transfer tax free
Laurie-Hall.com

3. Ask Yourself.
♦ Since we can’t know what will happen for sure, it’s important to
plan for all possibilities in advance
♦ Four questions to ask yourself:
♦ Can I afford the gift?
♦ What should be given away?
♦ How will the gift impact the
recipient?
♦ Should a trust be created, and if
so, what should the terms be?
Laurie-Hall.com
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4. Laurie Hall’s Bottom Line.
♦ Not only will estate planners be busy in December – so will
appraisers and accountants
♦ Financial institutions impose cutoff dates after which no transfer
will be performed before year end
♦ Thinking and planning should be done now – especially given that
many estate planning techniques can be quite sophisticated and
time intensive
Laurie-Hall.com
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5. Additional Resources.
♦ How will the potential year end changes impact my personal
planning?
♦ What – if any – actions should be taken before the end of the
year?
If you’re asking yourself these questions, see Edwards
Wildman’s
client advisory here.
Laurie-Hall.com
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6. For more information, contact:
Laurie J. Hall
Edwards Wildman
Partner
+1 617-239-0136
lhall@edwardswildman.com
Laurie-Hall.com
© 2012 Edwards Wildman Palmer LLP & Edwards Wildman Palmer UK LLP