Vermont remains one of about a dozen states that imposes a state estate tax. However, during the summer, Governor Scott signed Act No. 71, raising Vermont’s exclusion amount to $4,250,000 in 2020 and $5,000,000 in 2021.
Vermont remains one of about a dozen states that imposes a state estate tax. However, during the summer, Governor Scott signed Act No. 71, raising Vermont’s exclusion amount to $4,250,000 in 2020 and $5,000,000 in 2021.
Whereas the party of the first part shall prescribe, provide, formulate, and otherwise execute the means, method, and product for the tertiary daily repast for the mutual benefit of the parties; whereas the party of the second part shall evaluate, conduct, and otherwise execute in a timely manner the subsequent restoration of...
Imagine you are playing the popular “Would You Rather” game on a family road trip this summer. Would you rather embark on an unmarked treasure hunt or navigate that route to the treasure using a clearly marked map? While some adventurers may prefer to search without clues, others will certainly accept...
Thank you so much for being a sponsor for the New England qualifying track meet! Hundreds of Vermont's best track and field athletes competed in the Essex Invitational...
Jarrett & Luitjens is proud to co-host its 4th Annual Golfing4Life Tournament on July 24th at the Links at Lang Farm. Last year we raised over $10,000, funds which directly benefit the Cancer Patient Support Foundation of Williston’s Emergency Relief Fund. To join the fun and support this worthy cause, contact...
The road to eligibility for long-term care Medicaid benefits can be long and winding, so it can be tempting to board a magic carpet ride and try a so-called “Medicaid” trust, more descriptively referred to as an irrevocable income-only trust. The theory behind such a trust is that assets owned by...
Diogenes went to look for an honest lawyer. “How’s it going?”, someone asked. “Not too bad,” said Diogenes. “I still have my lantern.”
Estate/transfer tax
Vermont estate tax exclusion:
$2,750,000
Federal estate tax threshold:
$11,400,000
Federal gift tax exclusion (annual):
$15,000
Vermont Medicaid
Community Spouse Resource Allowance: $126,420
Minimum Maintenance Needs Allowance (spousal allocation): $2,114
Home Equity Limit (singles): $585,000
Freezing Credit: A new federal law effective 9/21/18 permits consumers to freeze their credit, free of charge. For more information, visit:
https://www.consumer.ftc.gov/blog/2018/06/free-credit-freezes-are-coming-soon-0
Games are usually a lot of fun, but you don’t really want to play hide and seek with your estate planning documents. After you have signed and implemented your plan, you may want privacy, but you should not hide your documents from everyone. If you excel at concealing, it may not...