Rev. Proc. 2015-53 Income Tax: Highest Tax Bracket for Estates and Trusts. An estate or trust will be subject to the highest income tax bracket and Medicare surtax if taxable income exceeds $12,400 (increased from $12,300 in 2015). Gift Tax: Annual Exclusion for Gifts. The annual exclusion for gifts remains at $14,000 for 2016. Annual Exclusion for Gifts to Non-Citizen …
What Is An Estate Plan & Health Care Documents
An “ESTATE PLAN”….sounds complicated and a bit grand. I can’t possibly have an “estate.” Surprise, we all have an estate. If we own our own home, a car, a bank account, a retirement account, a stamp collection, a piece of art, a pet, children, etc., this makes up our estate. What an estate plan allows you to do is provide …