When divorced parties disagree as to contribution for college education expenses, one party will make application to the Court to enforce the settlement agreements. Court applications for contribution to college education expenses have recently changed. a request has been made for college or post-secondary school contribution, the party must attach all relevant information pertaining to that request.
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IRS Estate Tax Exclusion
For 2016, the IRS estate tax exclusions are as follows:
- the estate tax exclusion amount for deaths in 2016 is $5.45 million
- the annual exclusion for gifts is $14,000
- the applicable exclusion amount for lifetime gifts is $5.45 million
