2016 Inflation Adjustments

Publisher: Day Pitney Estate Planning Update

December 16, 2015

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.

Recommended

Lose the Fear of the Foreign – Practical Planning Strategies

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.

January 16, 2019

Heckerling Institute on Estate Planning, University of Miami School of Law, Orlando, FL

Estate Planning Update Winter 2018/2019 - 2019 Inflation Adjustments

December 21, 2018

Day Pitney Estate Planning Update

Estate Planning Update Winter 2018/2019 - Day Pitney Further Expands Presence in Florida Through Merger with Richman Greer

December 21, 2018

Day Pitney Estate Planning Update

Estate Planning Update Winter 2018/2019 - Addressing Elder Financial Fraud

December 21, 2018

Day Pitney Estate Planning Update

Estate Planning Update Winter 2018/2019 - IRS Blesses Lifetime Gifts to Loved Ones

December 21, 2018

Day Pitney Estate Planning Update

Day Pitney Shortlisted for Two 2019 Private Asset Management Awards

December 10, 2018

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 Shortlisted for Family Wealth Report "Legal Team of the Year" Award

November 27, 2018

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.

Paul Allen's $26 Billion Estate Will Take Years to Unravel

October 18, 2018

Darren Wallace was quoted in an article, "Paul Allen's $26 Billion Estate Will Take Years to Unravel," published by Bloomberg.

Day Pitney and the Association of Corporate Counsel Co-Present "The Power of Women with Wealth" Program

October 3, 2018

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.

Leigh Newman to Receive 2019 Kipnis-Wilson/Friedland Award Honoring North American Jewish Women Leaders

August 27, 2018

Partner Leigh A. Newman has been selected by the Jewish Federation of Greater Hartford to receive the Jewish Federations of North America's 2019 Kipnis-Wilson/Friedland Award.