Tuesday, October 12, 2010
Wealthy Families' Living-Gift Strategy - BusinessWeek: "Short of a timely death by Dec. 31, the only way families may avoid a huge increase is with a gift. This year the gift tax is a historically low 35 percent, equal to the top marginal rate on ordinary income. It, too, jumps to 55 percent next year. Families can lock in the lower rate by making gifts before Jan. 1. 'She said, 'I don't want anyone wishing I was dead,' ' says the widow's lawyer, Domingo Such, who declined to identify his client."