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Have You Had Your Annual Estate Plan Checkup?


10 January, 2019

Have You Had Your Annual Estate Plan Checkup?
An annual estate plan checkup is critical to the health of your
estate plan. Because various exclusion, exemption and deduction amounts are
adjusted for inflation, they can change from year to year, impacting your plan.

2019 vs. 2018 Amounts

Here are a few key figures for 2018 and 2019:

Lifetime Gift and Estate Tax Exemption

2018: $11.18 million
2019: $11.40 million

Generation-Skipping Transfer Tax Exemption

2018: $11.18 million
2019: $11.40 million

Annual Gift Tax Exclusion

2018: $15,000
2019: $15,000

Marital Deduction for Gifts to a Noncitizen Spouse

2018: $152,000
2019: $155,000

You may need to update your estate plan based on these changes. But the beginning of the year isn’t the only time for an estate plan checkup. Whenever there are significant changes in your family, such as births, deaths, marriages or divorces, it’s a good idea to revisit your estate plan. Your plan also merits a look any time your financial situation changes significantly.

Turn to Us for Help

If you haven’t yet had your annual estate plan checkup, please contact us. Or, if you don’t yet have an estate plan, we can help you create one.

Theus Law Offices specializes in a complete range of estate planning and elder law services, including wills, trusts, probate, successions, estate administration and probate litigation. If you need a Louisiana wills and trusts lawyer or succession attorney in Alexandria, Lafayette, Lake Charles, Baton Rouge, New Orleans, Shreveport, Monroe, or elsewhere in Central Louisiana, let our certified estate planning specialist and probate lawyers help you.

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