For 2016, the annual exclusion amount for gifts remains at $14,000. The estate, gift and GST tax exemption amount for estates of decedents dying in 2016 and gifts made in 2016 is increased to $5.45 million. The annual exclusion amount for gifts made to a noncitizen spouse in 2016 is increased to $148,000.
The New York estate tax exemption, which applies to New York residents and those who own real property located in New York, is also subject to annual adjustment for the next several years. The New York estate tax exemption will increase to $4,187,500 for decedents dying on or after April 1, 2016, through March 31, 2017.
On March 14, Emily Belfer will be speaking at the Yeshivat Chovevei Torah (YCT) Disabilities Seminar.
On March 8, Scott Beach will participate in a panel presentation entitled "Family Office Megatrends" at the 2019 Family Office Association (FOA) National Summit in Palm Beach, FL.
At the Family Office Association's Miami Retreat on January 29, Scott Beach moderated a session with Brian Batson, a partner with Krupin Partners, a firm based in Beverly Hills that specializes in insurance solutions for high-net-worth individuals and family office principals/executives.
On January 16, Dina Kapur Sanna will be speaking on a panel, "Lose the Fear of the Foreign – Practical Planning Strategies," at the 53rd Annual Heckerling Institute.
Day Pitney Estate Planning Update
Day Pitney Press Release
Day Pitney's Family Office and Trusts and Estates practices have been shortlisted in two categories, "Best Private Client Law Firm" and "Best Trusts and Estates Division," for the 2019 Private Asset Management Awards.
Day Pitney's Family Office and Trusts and Estates practices have been shortlisted in the "Legal Team of the Year" private client category for the 2019 Family Wealth Report Awards.
Darren Wallace was quoted in an article, "Paul Allen's $26 Billion Estate Will Take Years to Unravel," published by Bloomberg.
On October 3, Day Pitney LLP and the Association of Corporate Counsel (ACC), Northeast Chapter – Women's Initiative co-presented a program, "The Power of Women with Wealth," held at Day Pitney's Boston office.