This is the 23d and final in a series of 23 tax tips thatAdvisorOne has published on each business day in March as part of our Tax Planning Special Report (see our Special Report calendar for a more complete list of topics to be covered and experts who will deliver their insights).
The tax tip today comes from Benjamin Ledyard, director of Wealth Strategies and regional director of the Mid-Atlantic for Silver Bridge Advisors. During his 15 years of experience in wealth management, he has developed expertise in financial, tax, wealth transfer, risk management, investment oversight, family governance, business succession, executive benefits and philanthropic planning.Ledyard holds aJD from Widener University School of Law and a bachelor’s degree from the University of Delaware.
A member of the Pennsylvania and American Bar Associations, he is also a member of the National Association of Estate Planning Councils, the Estate Planning Council of Delaware and the Wilmington Tax Group.
The Tip: Gift Depressed Assets That Are Likely to Appreciate
The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 was a call to action for families who wish to transfer wealth through gift planning. The temporary rise of the lifetime gift exclusion from $1 million to $5 million—a 500% rise—provides families, says Ledyard (left), with an extraordinary opportunity to transfer assets before death—but the opportunity is scheduled to expire at the end of 2012