John Ambrecht to Speak on Asset Protection Trusts

John Ambrecht speaks at Through the Looking Glass XIIJohn Ambrecht, senior partner at Ambrecht & Associates, is speaking at the Ventura County Community Foundations “Through the Looking Glass XII Symposium: An Ongoing Reflection of Current Estate and Gift Planning Issues”, on Friday, November 13th at 8:15 a.m.

His session will address “Asset Protection Trusts: An Important Ingredient to the Estate Planning Process”, providing the planner with an overview of the more important kind of trusts that can ethically and legally be used to help protect family assets for the current and subsequent generations.

The day-long program explores the latest trends in estate planning and charitable giving. It will be held from 8 a.m. to 3 p.m. at the Museum of Ventura County, 100 East Main Street, Ventura, California.

Register online at Through the Looking Glass XII.

 

Posted in Ambrecht & McDermott, LLP, Estate Planning, Trust Planning | Tagged , , , | Comments Off on John Ambrecht to Speak on Asset Protection Trusts

Brooke Cleary McDermott Named Partner at Ambrecht & Associates

Brooke Cleary McDermott, JD, LLM, an attorney specializing in complex estate and trust planning, estate and trust matters, and estate and gift tax controversy matters, has been named a partner at the boutique law firm of Ambrecht & Associates in Montecito. Ms.McDermott has been with the firm since 2008.

Ms. McDermott works with individuals and families to achieve their financial, family and charitable goals by guiding them step-by-step through the estate planning process, using a variety of wealth planning strategies aimed at accomplishing both tax and family-generational planning. She also advises individuals, families, beneficiaries, trustees and executors with regard to probate, estate and trust administration matters, including preparation of estate tax returns, IRS audits and allocation and distribution of bequests to beneficiaries.

Ms. McDermott completed her LLM (Masters of Law) in estate planning at the University of Miami School of Law in Coral Gables, Florida. She earned her JD at Suffolk University Law School in Boston, Massachusetts, and a Bachelor of Arts degree summa cum laude at the University of Connecticut in Storrs, Connecticut in 2003, where she was the commencement speaker. A member of the Santa Barbara Bar Association, Brooke McDermott has chaired the Probate Section from 2012 to the present and lectures frequently.

She is currently licensed to practice law in both California and Florida.

Posted in Ambrecht & McDermott, LLP | Comments Off on Brooke Cleary McDermott Named Partner at Ambrecht & Associates

Happy Holidays from Ambrecht & Associates

Ambrecht_Holiday_Greeting_Social_Media

Posted in Ambrecht & McDermott, LLP | Comments Off on Happy Holidays from Ambrecht & Associates

Transfer Tax Exclusions and Exemptions

Transfer Tax Exclusions and Exemptions from 1986 through 2014

Transfer Tax Exemptions and Exclusions (1986-2014) Sheet

 

Year Estate Tax Gift Tax GST Tax Annual Exclusion

1986 $500,000 $500,000 $1,000,000 $10,000

1987 $600,000 $600,000 $1,000,000 $10,000

1988 $600,000 $600,000 $1,000,000 $10,000

1989 $600,000 $600,000 $1,000,000 $10,000

1990 $600,000 $600,000 $1,000,000 $10,000

1991 $600,000 $600,000 $1,000,000 $10,000

1992 $600,000 $600,000 $1,000,000 $10,000

1993 $600,000 $600,000 $1,000,000 $10,000

1994 $600,000 $600,000 $1,000,000 $10,000

1995 $600,000 $600,000 $1,000,000 $10,000

1996 $600,000 $600,000 $1,000,000 $10,000

1997 $600,000 $600,000 $1,000,000 $10,000

1998 $625,000 $625,000 $1,000,000 $10,000

1999 $650,000 $650,000 $1,010,000 $10,000

2000 $675,000 $675,000 $1,030,000 $10,000

2001 $675,000 $675,000 $1,060,000 $10,000

2002 $1,000,000 $1,000,000 $1,100,000 $11,000

2003 $1,000,000 $1,000,000 $1,120,000 $11,000

2004 $1,500,000 $1,000,000 $1,500,000 $11,000

2005 $1,500,000 $1,000,000 $1,500,000 $11,000

2006 $2,000,000 $1,000,000 $2,000,000 $12,000

2007 $2,000,000 $1,000,000 $2,000,000 $12,000

2008 $2,000,000 $1,000,000 $2,000,000 $12,000

2009 $3,500,000 $1,000,000 $3,500,000 $13,000

2010 [Repealed] $1,000,000 [Repealed] $13,000

2011 $5,000,000 $5,000,000 $5,000,000 $13,000

2012 $5,120,000 $5,120,000 $5,120,000 $13,000

2013 $5,200,000 $5,200,000 $5,200,000 $14,000

2014 $5,340,000 $5,340,000 $5,340,000 $14,000

Posted in Ambrecht & McDermott, LLP, Tax Resources | Tagged , , , | Comments Off on Transfer Tax Exclusions and Exemptions