{"id":411,"date":"2016-10-01T17:44:00","date_gmt":"2016-10-01T17:44:00","guid":{"rendered":"http:\/\/levineandhtoolaw.com\/?p=411"},"modified":"2017-02-09T17:44:34","modified_gmt":"2017-02-09T17:44:34","slug":"estate-tax-planning","status":"publish","type":"post","link":"https:\/\/levineandhtoolaw.com\/2016\/10\/01\/estate-tax-planning\/","title":{"rendered":"Estate Tax Planning"},"content":{"rendered":"<div class=\"blog-content\">\n<p>BEWARE: you may not be out of the woods yet. Unless you have a comprehensive estate plan, taxes may slip in when you\u2019re least expecting it.<\/p>\n<p>That being said, many, but not all, of you can rest assured that the federal estate tax won\u2019t diminish your estate. The exemption is so high that it just doesn\u2019t affect 99% of the population. You\u2019d have to have more than $5,450,000 in your estate before federal estate taxes hit. And, if you\u2019re married, that number, with proper action, can be doubled.<\/p>\n<p>However, many states also have estate taxes which spring into effect at much lower thresholds. For example, state estate tax may be charged to your estate with just $1,000,000; and, while $1,000,000 sounds like a lot of money, you may very well be over that threshold and not be aware of it. Consider your real estate, retirement accounts, investment accounts, annuities, collections, and insurance &#8211; and &#8211; add in any property you control through a power of appointment.<\/p>\n<p>And, then, there\u2019s state inheritance tax&#8230;<\/p>\n<p>While estate planning is not just about the money and not just about the taxes, tax planning is an important element and must contemplate estate and inheritance taxes as well as income tax planning opportunities \u2013 for you and for your heirs \u2013 and capital gains, generation skipping\u00a0transfer, and other tax systems.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>BEWARE: you may not be out of the woods yet. Unless you have a comprehensive estate plan, taxes may slip in when you\u2019re least expecting it. That being said, many, but not all, of you can rest assured that the federal estate tax won\u2019t diminish your estate. The exemption is so high that it just [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/levineandhtoolaw.com\/wp-json\/wp\/v2\/posts\/411"}],"collection":[{"href":"https:\/\/levineandhtoolaw.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/levineandhtoolaw.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/levineandhtoolaw.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/levineandhtoolaw.com\/wp-json\/wp\/v2\/comments?post=411"}],"version-history":[{"count":1,"href":"https:\/\/levineandhtoolaw.com\/wp-json\/wp\/v2\/posts\/411\/revisions"}],"predecessor-version":[{"id":412,"href":"https:\/\/levineandhtoolaw.com\/wp-json\/wp\/v2\/posts\/411\/revisions\/412"}],"wp:attachment":[{"href":"https:\/\/levineandhtoolaw.com\/wp-json\/wp\/v2\/media?parent=411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/levineandhtoolaw.com\/wp-json\/wp\/v2\/categories?post=411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/levineandhtoolaw.com\/wp-json\/wp\/v2\/tags?post=411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}