November 22, 2017

Gift Taxes, Estate Planning and Pennsylvania Law

Four Decades of Estate and Probate Law Legal Service in Southeastern Pennsylvania

Anyone interested in gifting money or assets to a child desires to do so without paying taxes on the gift or having the child pay taxes on the gift. After all, you likely paid taxes on the assets already, when you earned it, right?

Fortunately, though you need to file a gift tax form each time you gift $13,000 or more, per child, in one year, you can gift $5.12 million over your lifetime, tax-free. The attorneys of The Law Offices of Halligan & Keaton in Media can help.

Our two-member attorney team brings exclusive qualifications to your estate planning process. In addition to our over forty years of legal experience, our team includes: a past president of the Delaware County Bar Association, a past director of the Delaware County Bar Association, and a former adjunct professor of law at Villanova University and Widener University. We are also the recipients of numerous awards from universities, publications and legal organizations,

At The Law Offices of Halligan & Keaton we have assisted hundreds of families manage gift and inheritances assets, and are skilled at minimizing tax liabilities and the accomplishing the smooth transfer of assets and funds.

Without Congressional legislation the gift tax exemption would be reduced from $5.12 million to $1 million, as of January 1, 2013. Therefore, it makes sense to plan and execute large-scale gifts now. To contact us for sound legal gift and gift tax assistance in Pennsylvania, call 610-566-6030 or fill out our online intake form.