In this vlog, Attorney Justin M. Kennedy discusses the gift tax exemption. Since 2018 Federal law has allowed you to make gifts of $15,000 per person per year without having to file a gift tax return. In 2022 the gift tax exemption amount will be increasing to $16,000 per person per year.
Litherland, Kennedy & Associates have been providing quality estate planning services in the Greater Bay Area since 1975. They are committed to helping those concerned with protecting their families from the devastating legal effects of disability and death. With the aid of public seminars, educational presentations, articles, and radio/television interviews, the law office has championed the use of revocable living trusts as a proven way to protect families from probate, to minimize or eliminate federal estate taxes, and to prevent the Medi-Cal Recovery lien. Attorneys Justin M. Kennedy and Maggie A. LaBranch-Gonzales are certified as Legal Specialists in Estate Planning, Trust and Probate Law by the California State Bar Board of Legal Specialization. Litherland, Kennedy & Associates are members of the American Academy of Estate Planning Attorneys and National Academy of Elder Law Attorneys.
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