• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veterans Benefits
  • Seminars
  • Areas We Serve
    • Ballwin
    • Chesterfield
    • Clayton
    • Creve Couer
    • Des Peres
    • Edwardsville
    • Fenton
    • Glen Carbon
    • Glendale
    • Kirkwood
    • Maryland Heights
    • Oakland
    • Sappington
    • St. Louis
    • Sunset Hills
    • Valley Park
    • Webster Groves
  • Resources
    • Asset Protection Worksheet
    • Elder Law Resources
      • Chesterfield Elder Law
      • Fenton Elder Law
      • Kirkwood Elder Law
      • Sunset Hills Elder Law
      • St. Louis Elder Law
      • St. Peters Elder Law
      • Webster Groves Elder Law
    • FREE Estate Planning Seminars
    • FREE Estate Planning Worksheet
    • Frequently Asked Questions
      • Estate Planning
      • Families Without an Estate Plan
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Trust Administration & Probate
    • Is Your Estate Plan Outdated?
    • Medicaid Resources
    • Multimedia
    • Newsletters
    • Presentations
    • Pre Consultation Form
    • Probate Checklist
    • Probate Resources
    • Retirement Planning Checklist
    • Special Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning For Niches
      • Trust Administration
  • Reviews
    • Our Reviews
    • Review Us
  • Blog
  • Contact Us

Amen, Gantner & Capriano | Your Estate Matters, L.L.C.

St. Louis Estate Planning & Elder Law Attorneys

Logo
CONNECT WITH US TODAY (314) 966-8077
ATTEND A FREE WEBINAR
Home / Estate Taxes / Higher Lifetime Exemption Limit May Require Changes to Your Estate Plan

Higher Lifetime Exemption Limit May Require Changes to Your Estate Plan

July 8, 2013

Estate Taxes Tagged With: American Taxpayer Relief Act, Estate Planning

For millions of taxpayers who once focused much of their estate plan on avoiding the gift and estate tax, the passage of the American Taxpayer Relief Act of 2012 brought welcome changes. Specifically, the Act set the estate and gift tax lifetime exemption amount at $5.25 million – adjusted annually for inflation. For many taxpayers, the historically high lifetime exemption amount means they no longer need to worry about estate taxes. For others it at least takes some of the pressure off. In either case, taking the focus off of gift and estate taxes may make room for other changes in your estate plan.

Just because you no longer need to worry about your estate incurring gift and estate taxes does not mean that you should stop there. In fact, now that the pressure is off as far as estate taxes go, there are some other advantageous changes you may wish to make to your estate plan as a result.

You may, for instance, wish to review your lifetime gifting strategy. Prior to the increase in the estate and gift tax lifetime exemption amount many taxpayers focused on removing high value assets from their estate prior to death to avoid incurring estate taxes on the asset. Now, your focus might be the income tax repercussions of a lifetime gift instead of the estate tax repercussions. For example, it might be wise to gift lower value assets that have yet to appreciate, but which you anticipate will appreciate in the future.

Consult with your estate planning attorney to determine what changes, if any, you should make to your estate plan in lieu of the recent changes to the law.

  • Author
  • Recent Posts
Paul Gantner
Paul Gantner
I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations.My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”
Paul Gantner
Latest posts by Paul Gantner (see all)
  • Lessons from Patagonia - January 5, 2023
  • Planning for the “Silver Tsunami” - December 29, 2022
  • More than Just Salad Dressing: The Ongoing Saga of Newman’s Own Foundation - December 22, 2022

Filed Under: Estate Taxes Tagged With: American Taxpayer Relief Act, Estate Planning

Other Articles You May Find Useful

Amen, Gantner & Capriano | Your Estate Matters, L.L.C.
Google Announces “Inactive Account Manager”
Amen, Gantner & Capriano | Your Estate Matters, L.L.C.
Estate Planning Tips – Choosing Your Appraiser
Amen, Gantner & Capriano | Your Estate Matters, L.L.C.
How to Take Advantage of the Annual Gift Tax Exclusion
Inheritance tax in Missouri
Do I Need to Worry about Inheritance Tax in Missouri?
Can Estate Taxes Destroy Your Estate Plans?
Amen, Gantner & Capriano | Your Estate Matters, L.L.C.
What Is a Supplemental Needs Trust?

About Paul Gantner

I am an owner of Amen, Gantner & Capriano, Your Estate Matters, L.L.C. I have been able to bring my business and legal education and experience into a firm that has for many years provided comprehensive estate plans that meet clients’ needs and expectations. My passion has been creating and constantly pushing AGC’s mission of “Helping Families Secure their Legacies by Embracing them into the Law Firm Family through Long-term, Personal Advisory Relationships.”

Primary Sidebar

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.
  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • twitter
  • linkedin
  • youtube

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Where We Are

Amen, Gantner & Capriano
10733 Sunset Office Drive, Suite 425
St. Louis, MO 63127

See Larger MapGet directions

Office Hours

Monday8:30 AM - 5:00 PM
Tuesday8:30 AM - 5:00 PM
Wednesday8:30 AM - 5:00 PM
Thursday8:30 AM - 5:00 PM
Friday8:30 AM - 12:00 PM

Map

map for Amen, Gantner & Capriano Your Estate Matters office
  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Footer

Connect to us

  • Facebook
  • twitter
  • linkedin
  • youtube
footer-logo

© 2023 American Academy of Estate Planning Attorneys, Inc.

Amen, Gantner & Capriano,
Your Estate Matters, LLC

Attorney Advertisement