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A Better Partnership


Feb 2012
February 01, 2012

Estate Planning Tip: 2012 Cost-Of-Living Adjustments

Cost of living adjustments have been announced for 2012 for many important estate planning and elder law thresholds.  Here is a summary of the current numbers. 

Estate and Gift Tax  
Estate, Gift and GST Tax Exemption Equivalent: $5,120,000
Gift Tax Annual Exclusion: $     13,000
Annual Exclusion for Noncitizen Spouse: $   139,000
Maximum Community Spouse Asset Allowance: $   113,640
Minimum Community Spouse Asset Allowance: $     22,728
Maximum Community Spouse Income Allowance (monthly): $       2,841
Monthly Income Cap for Home and Community Based Waiver: $       2,094
Average Monthly Cost of Nursing Home Care (Divestment Penalty Divisor): $       6,816
Estates and Trust Code  
Intestate Share of Surviving Spouse with Children with Decedent: $   210,000
Intestate Share of Surviving Spouse with no Children with Decedent: $   140,000
Homestead Allowance (spouse/minor’s shelter during estate administration): $     21,000
Exempt Property (spouse/children’s right to household and personal property): $     14,000
Family Allowance (to support spouse/minors during estate administration): $     25,000
Small Estates (qualifies for summary procedure): $     21,000
Small Trusts (May be terminated as too small to justify administration expenses): $     70,000

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