Trusts and Estates > Briefing > Tax Law Update

Dec 1, 2008 12:00 PM

Tax Law Update

, By David A. Handler, partner & Alison E. Lothes, associate, in the Chicago office of Kirkland & Elli

By David A. Handler, partner & Alison E. Lothes, associate, in the Chicago office of Kirkland & Elli

Revenue Procedure 2008-66 was released Oct. 16, 2008, making the following adjustments:

Annual Gift Exclusion — The annual gift exclusion rose from $12,000 to $13,000 for gifts made after Jan. 1, 2009.

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