Colorado Probate Blog: Changes Effective January 1, 2012

Wednesday, January 4, 2012

Changes Effective January 1, 2012

The Exempt Property and Family Allowances increase on January 1 to $30,000 each for a total of $60,000 that a surviving spouse or dependent children may request from an estate under the Colorado Probate Code. The federal estate, gift and generation-skipping exemptions increase from $5 million to $5,120,000 as a result of inflation in 2012, but keep in mind that they may go down to $1 million in 2013 if Congress fails to take action. Happy New Year!

About Wade Ash Woods Hill & Farley, P.C.

Wade Ash Woods Hill & Farley, P.C. provides legal services in the areas of estate planning; estate, gift and generation-skipping tax planning; estate and trust administration; estate and trust litigation; fiduciary income taxation; marital agreements; family business planning; the administration of conservatorships and guardianships; elder law, and the organization and administration of nonprofit organizations and private foundations. Estate and trust litigation is an important part of our practice. We are routinely involved in complex probate litigation, as well as the mediation of disputes.

Website: www.wadeash.com

Wade Ash Woods Hill & Farley, P.C.
4500 Cherry Creek Drive South, #600
Denver, Colorado 80246
(303) 322-8943