A common misconception surrounding organ donation is the idea of being “too old” to donate, or the idea of nobody wanting the organs of someone who is older. This is simply not the case! Did you know that in 2018, more than 62% of all people who received organ transplants were age 50 or older? Or that over 21% of organ transplant recipients were 65 or older?
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Estate Unified Credit Amount Increases to $5,490,000 in 2017.
Before the close of the current tax year talk to an estate planning attorney. The Estate Tax is a tax on the transfer of property to your heirs upon your death. Each of us gets an estate and gift tax exemption allowing us to transfer property to our heirs potentially tax free. For the year 2017, the estate and gift tax exemption amount is increased to $5.49 million per person (up from $5.45 million in 2016). That means that you and your spouse have the ability to pass on and protect $10.98 million from federal inheritance taxes. Anything above that amount may be subject to a federal estate tax of 40%.
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