Why Choose Us?

Why Choose Norman & Norman?

  • We specialize in Estate Planning, Probate and trust administration
  • Our practice is limited exclusively to writing Wills and Trusts and assisting executors and trustees
    with probate and trust administration
  • Because of our expertise in estate, gift and GST tax planning
  • Our office is conveniently located. No parking problems.
  • We are committed to timely communications with our clients
  • Our team coordinates well with your other advisors – CPAs, financial advisors, insurance agents,
    etc.
  • We are skilled at presenting complex issues in easily understood terms.
  • The initial attorney consultation is free and the fee will be quoted up front for estate planning work.
  • We are able to travel to the client if necessary
  • Two of our attorneys are Board Certified in Estate Planning and Probate

The American Taxpayer Relief Act of 2012 (H.R. 8) was passed by the United States Congress on January 1, 2013, and was signed into law by President Barack Obama the next day. As it relates to Estate, Gift and GST tax, the $5 million dollar exemption for individual estates ($10 million for couples) remains in place. Note that indexed for inflation, the $5 million dollar exemption is currently $5,250,000. Estates would be taxed at a top rate of 40% (up from 35%). In addition, the exemption amount (for gift, estate and GST taxes) remains unified and is permanently extended after 12/31/12. Portability of the unused credit is also made permanent.

This new law will certainly be something that individuals will want to consider in their Estate Plan and as such will want to visit with their financial, accounting and legal professionals to determine whether any revisions to their planning is necessary in light of this new law.