Tuesday, March 11, 2014

Increase in estate tax exemption

The federal estate tax exemption will increase from $5,250,000 in 2013 to $5,340,000 in 2014. A single person who dies with less than that amount in taxable assets will not have a concern about Federal estate taxes.

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New amendments to EPIC

Public Act 1 (2024) made a number of changes to the Estates and Protected Individuals Code (EPIC). These changes were given immediate effect...