TIP / NEWS: NEW NUMBERS FOR 2021

Estate/transfer tax

Vermont estate tax exclusion: $5,000,000

Federal estate and lifetime gift tax threshold: $11,700,000

Federal gift tax exclusion (annual): $15,000 [no change from 2020]

Vermont Medicaid

Community Spouse Resource Allowance: $130,380

Home Equity...

FIGHTING PANDEMIC BLUES

Many of us are suffering from pandemic fatigue—at home, in the workplace, and in the community.  Are you taking time for your mental health? And are you finding creative ways to safely connect with family, co-workers, and friends?  Because our office maintains a hybrid model of remote and in-office scheduling, our entire...

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Tip/News: New Numbers for 2020

Estate/transfer tax Vermont estate tax exclusion: $4,250,000 Federal estate and lifetime gift tax threshold: $11,580,000 Federal gift tax exclusion (annual): $15,000 [no change from 2019] Vermont Medicaid Community Spouse Resource Allowance: $128,640 Home Equity Limit (singles): $595,000

Tip / News: Estate Tax

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.

 

Tip Corner

 

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

 


Scam Alerts

Sometimes we find a great tip and like to share.  Here is our newest tip: Scam Alerts from the State

Sign up to receive instant scam alerts via text, voice or email at www.uvm.edu/consumer.

VT Scam Alerts are a service of the VT Attorney General and VT Department of Public Safety.

Social Security Number

Protect your Social Security number!

To help address the growing concern of identity theft, Social Security numbers will begin to disappear from Medicare ID cards, beginning in April 2018.  CMS will begin mailing replacement cards with a new “Medicare Beneficiary Identifier” (MBI) next spring, with mandate to complete transition by April 2019.