Page 10 - Palm City Spotlight - February '20

Page 10, Palm City Spotlight DOUBLE SPACE

legal talk

Use It Or Lose It? (which means that married couples can transfer up to we assume that future legislation reduces the lifetime
$23,160,000 of wealth in 2020 without transfer tax), it is exemption to $5,000,000 in 2021 for U.S. residents
By Ryan Abernathy estimated that federal estate/gift tax laws currently impact who have not already lifetime wealth transfers, this
The Tax Cuts and Jobs fewer than one-tenth of one percent of U.S. citizens (that’s hypothetical reduced lifetime exemption results is a “lost
Act of 2017 delivered a fewer than 1 out of 10,000!). This article is meant for the opportunity” to transfer an additional $6,580,000 of wealth
huge gift for U.S, citizens “lucky few” who still must plan their financial affairs with to family members in 2020.
with a high net worth. transfer taxes in mind. At an assumed 40 percent transfer tax rate, that means a
As a result of this As we all know, 2020 is an election year. This real out-of-pocket cost of $2,632,000 in additional transfer
legislation, in 2020 U.S. November’s election will undoubtedly change the makeup taxes! For a high net worth taxpayer, this represents
citizens can transfer up of the Senate and the House of Representatives, and could 2,632,000 reasons to consider making lifetime wealth
to $11,580,000 of wealth change the U.S. Presidency, as well. transfers prior to the end of 2020.
either during their lifetime Depending on the extent of these election-driven For 35 years, we have worked with high net worth
(by gift) or at death (by changes, U.S. transfer tax laws could very well change as families to design, implement and administer cutting
testamentary transfer) early as January 2021. If these possible changes include edge and sophisticated strategies to minimize (and often
without the imposition of a transfer tax (gift or estate tax). a reduction in the lifetime exemption amount, high net totally eliminate) transfer taxation impacts in ways that are
This “freebie” amount is generally referred to as worth taxpayers may lose their ability to make transfer consistent with goals and objectives expressed by our clients.
the “lifetime exemption.” Because of this and previous tax-free wealth transfers to family members to the extent If the thought of trusting the results of the 2020 election
changes to tax laws that allow married individuals to that they currently enjoy throughout this year. to influence the repercussions of making lifetime transfers
essentially “stack” their lifetime exemption amounts To illustrate the impact this change could have, if concerns you, this is the time to take action!

Dating from page 9

#HappyValentinesDay #LoveOffLineIn2020 Around Town Singles Scene Photos. February staff to spend less time with
#ThisIsYourDecade #MenMagnets #TellYourFriends 2020. your married friends and
Kelly Leary has 29 years in the dating industry and a The following photos were taken at some of our end-of- more time with exceptional,
©
master’s degree in Psychology. She’s been profiled by ABC the-year holiday parties. All venues typically invite Kelly kind-hearted singles as you
News, The Palm Beach Post, PalmBeacher Magazine, to have an event knowing the quality of her following. All journey out into the next
Stuart News, etc. Revolution Dating members are prescreened ages were in attendance and grouped by their age range chapter of your life. If you
including background checks. Professional photos are taken in a celebratory atmosphere in true-to-form Revolution are interested in finding
by the staff. Revolution Dating is not online dating or blind Dating style. One couple even flirted at thought of getting your own Valentine this
dating. In addition to providing matchmaking services that engaged -- the energy in the room was enticing. Many of month or if you want to be
make singles “UN-single” through their exclusive one-on-one these guests that you see here met for the first time on set up privately please call
private setups, Kelly also holds private singles events which are the eve of the events. A picture is worth 1,000 words and the main hotline today at
optional. For more information please call 561-630-XOXO everyone in attendance had a chance to bond with the 561-630-XOXO (9696).
(9696), 772-932-HERE (4373) or 954-420-XOXO (9696) or team, network, and find love! Many guests left in pairs Hotlines are open seven
visit www.revolutiondating.com. *All inquiries are confidential. and several groups left together at the end of the night for days a week! Call for a
a late dinner for more bonding. Joining Revolution Dating LIVE chat today! *Parties
is not just about finding instant love, although that happens are not mandatory.
often. Joining this
club is more about
opening doors
Captain’s was established in 1980 servicing that were once
Palm Beach County and is a privately closed. It is about
owned and managed company. socializing with
Captain’s is committed to providing quality people that
dependable, reliable and professional are like-minded
ground transportation to and from all
South Florida Airports and Seaports. PBCVH212 and single. It is
To reserve your vehicle: advised by the
561-798-2180 or 800-634-7890 www.captainsairport.com

BookMania!

The 26th Annual
BookMania! Festival 2020

March 28, 2020 from 9 am – 4 pm
Jensen Beach High School Performing Arts Center.
Copies of the author’s books are available
at all Martin County Library System branches.
Lunch will be prepared by the Martin County Sheriff’s Office
BBQ team and will be available for purchase – CASH ONLY

Authors/Panel Schedule *

9:00 a.m. 12:30 p.m. – 1:15 p.m.
Welcome A Dogs Perspective

9:15 a.m. – 10:15 a.m. Clive Wynne
Spy/espionage Spencer Quinn

Don Bentley 1:35 p.m. – 2:20 p.m.

Sonia Purnell Larger Than Life
Tracy Walder Brian Jay Jones

10:40 a.m. – 11:55 a.m. Joe Posnanski
Mystery/thriller 2:35 p.m. – 3:35 p.m.
April Henry Historical Fiction
Paul Doiron Allison Pataki
Peter Swanson Martha Hall Kelly
Shari Lapena Mary Doria Russell
*Subject to change
This FREE Public Event is underwritten by

THE LIBRARY FOUNDATION OF MARTIN COUNTY, INC.
For more information call 772-221-1409
www.libraryfoundationmc.org /libraryfoundationmc