Calendar year 2012 provides extraordinary planning opportunities, including:
Spousal Access Trust — Benefits may include asset protection, estate tax protection, direct descendent protection and income shifting.
Irrevocable Life Insurance Trust — None of the assets of an ILIT will be included in the individual’s taxable estate, making the proceeds free of both income and estate tax.
Dynasty Trust — The grantor is allowed a lifetime generation skipping transfer (GST) exemption on the first $5,120,000 of taxable transfers to a skip person or a trust that could benefit a skip person. A husband and wife can combine their GST exemptions.
Income Shifting Trusts — Parents can move up to $10,240,000 in income-producing assets free of gift tax to their children, who can then use the income for personal purposes or to make investments.
You are urged to discuss these matters with your tax and legal advisors.
Please advise the College if you have included Hamilton in your estate plan or completed a planned gift so you may be honored and recognized as a Joel Bristol Associate.
For more information about planned gifts at Hamilton, please go to:
or call Ben Madonia ’74 or Joni Chizzonite at 866-729-0317.