A number of tax issues were addressed in the the tax act passed by Congress on January 1, 2013. Many of the provisions, such as the income tax rates, impact a large segment of the population while others affect a much smaller number of people.

Now that estate and gift tax exemption levels and tax rates have been confirmed for the foreseeable future, it is a good time to review your wills, trusts and other estate planning arrangements. While the current estate and gift tax exemption levels only impact a limited number of estates, thoughtful planning for distributing your assets and providing for your family is important for everyone. As you and your advisors evaluate your current plan or develop a new one, remember that our Charitable Estate Planning directors are available to discuss the various gift options and the benefits of each option as it pertains to your particular circumstances.

2012 Tax Update