2009 Changes to Estate Tax Planning
January 14, 2009

2009 brings two very big changes to estate tax planning! In prior years the amount one could shelter from federal estate tax was 1.0 Million Dollars per person, it grew to 2.0 Million Dollars for 2008 and is now a whopping 3.5 Million Dollars for 2009. On the gifting front, the inflation adjusted annual exemption has risen from $12,000 last year to $13,000 for 2009. The Maryland estate tax exemption remains at 1.0 Million Dollars and there is no Maryland gift tax. From a planning perspective, because of the spread between the federal and state exemption amounts, you should have your will or revocable trust reviewed to ensure the respective tax provisions meet your expectations. If you would like help with a review, please feel free to contact me directly on the number below.

If you have questions, please contact:
Charles B. Jones, Esquire

CJones@TandLLaw.com
(410) 752-2468