• Facebook
  • Youtube
  • Linkedin
  • Twitter
  • Instagram
  • Vk
Call Us At: (408) 553-0801
Lonich Patton Ehrlich Policastri
  • Home
  • About
    • Why LPEP
    • Our Attorneys
    • Locations
      • San Jose
      • Santa Cruz
      • San Francisco
    • Testimonials
  • LPEP Spotlight
  • Practice Areas
    • Family Law
      • Annulments
      • Certified Family Law Specialists
      • Child Custody and Visitation
      • Child Support
      • Divorce and Your Estate
      • Divorce Litigation
      • Divorce Planning
      • Domestic Partnerships
      • Domestic Violence
      • Enforcement and Modifications
      • Extramarital Affairs
      • Grandparents’ Rights
      • Harassment
      • Legal Separation
      • Mediation and Collaborative Divorce
      • Parental Relocations
      • Paternity
      • Postnuptial Agreements
      • Prenuptial Agreements
      • Property Division
      • Restraining Orders
      • Same Sex Divorce
      • Spousal Support and Alimony
    • Estate Planning
      • Business Succession Planning
      • Power of Attorney
      • Probate
      • Trust Administration
      • Trust and Probate Litigation
      • Trusts
      • Wills
  • FAQ
    • Estate Planning FAQ
    • Family Law FAQ
  • Blog
  • Pay Now
  • Resources
    • Family Law Resources
    • Family Law Terms
    • Estate Planning Resources
  • Contact Us
    • Careers
  • Get a Free Consultation
  • Menu
Michael Lonich

Lifetime Gifts May Have Significant Tax Advantages

November 30, 2010/in Estate Planning /by Michael Lonich

An estate planning attorney can help you develop a plan that maximizes your assets and helps you take advantage of the estate and gift tax system.  If you are considering leaving an asset to someone upon your death, you may be interested in learning about the tax benefits of an “inter vivos” gift.  An inter vivos gift is a gift that is transferred during the giver’s lifetime.

Lifetime gifts have several tax advantages.  These advantages are particularly helpful to individuals whose estate will likely be subject to federal estate taxation.  Also, lifetime gift plans are particularly important for people whose estates will exceed the applicable estate tax exclusion ($3.5 million for decedents dying in 2009).

The main advantage of an inter vivos gift is that some, or all, of the gift may not be subject to transfer tax.  The Internal Revenue Code provides that individuals may make gifts of $13,000 per year per donee without incurring gift tax liability and without having to file a gift tax return.

In addition, interspousal gifts provide the donee spouse with an adequate estate and also allow the donee spouse to use his or her annual exclusions and estate and gift tax exclusion amounts.  The gift tax marital deduction is unlimited for a donee spouse who is a United States citizen.  For non-citizen spouses, there is an inflation adjusted annual gift tax exclusion that totaled $128,000 in 2008.

For more information about lifetime gifts, please contact us.  Please remember that each individual situation is unique and results discussed in this post are not a guarantee of future results.  While this post may include legal issues, it is not legal advice.  Use of this site does not create an attorney-client relationship.

Tags: estate plan, inter vivos gift, lifetime gift, tax benefit
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on Linkedin
  • Share by Mail
https://www.lpeplaw.com/wp-content/uploads/2021/05/LPEP_PC.png 0 0 Michael Lonich https://www.lpeplaw.com/wp-content/uploads/2021/05/LPEP_PC.png Michael Lonich2010-11-30 14:19:052021-12-22 21:59:51Lifetime Gifts May Have Significant Tax Advantages
You might also like
Single? Time to Start Your Estate Planning
Transfers from Parents & Grandparents to Children: Avoid an Increase in Property Tax
Estate Planning Bucket List: Managing Important Documents in Case of Death
The Surprising Tax Benefits of Holding Title as Community Property with Right of Survivorship
2011 Tax Laws Affecting the Inheritance of Real Property
Update: Gifts to Caregivers Prohibited
Learn more about estate planning with a free resource
Read all about family law and child custody
Learn more about family law matters such as private divorce counseling.

Categories

  • 2021
  • 2022
  • 2023
  • 2024
  • 2025
  • Business Law
  • Estate Planning
  • Family Law
  • Firm News
  • In the Community
  • News
  • Personal
  • Probate
  • Spotlight

Posts From The Past 12 Months

  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024

Explore Our Archives

Free 30-Minute Family Law or Estate Planning Consultation

3 + 1 = ?

Contact Us

LONICH PATTON EHRLICH POLICASTRI

1871 The Alameda, Suite 400, San Jose, CA 95126
Phone: (408) 553-0801 | Fax: (408) 553-0807 | Email: contact@lpeplaw.com

LONICH PATTON EHRLICH POLICASTRI

Phone: (408) 553-0801
Fax: (408) 553-0807
Email: contact@lpeplaw.com

1871 The Alameda, Suite 400
San Jose, CA 95126

Located in San Jose, Lonich Patton Ehrlich Policastri handles matters for clients in northern California, specifically San Jose and Silicon Valley. Our services are available to anyone within the following counties: Santa Clara, San Mateo, Contra Costa, Santa Cruz, Monterey, San Benito, and San Francisco. For a full listing of areas where we practice, please click here.

MAKE A PAYMENT BY SCANNING THE QR CODE BELOW:

DISCLAIMER

This web site is intended for informational purposes only and is not legal advice. Nothing in the site is to be considered as either creating an attorney-client relationship between the reader and Lonich Patton Ehrlich Policastri or as rendering of legal advice for any specific matter. Readers are responsible for obtaining such advice from their own legal counsel. No client or other reader should act or refrain from acting on the basis of any information contained in Lonich Patton Ehrlich Policastri Web site without seeking appropriate legal or other professional advice on the particular facts and circumstances at issue.

About | Why LPEP | Contact | Blog

© 2024 Lonich Patton Ehrlich Policastri. All rights reserved. Privacy Policy

Are You Divorcing? Here is What Not to Do Online Unsettled Law Makes Estate Planning for Same-Sex Couples Challenging
Scroll to top

LPEP COVID-19 Office Protocol