With the holidays upon us, naturally we all think of the old adage, “it is better to give than to receive.”  From a tax standpoint, this has never been more true than in 2011!  Let’s start with gifts to individuals.  For several years now, the annual federal gift tax exclusion amount has been set at $13,000.  This means you can give as many gifts as you like to as many people as you like without any tax ramifications at all (no tax owed by you, no tax owed by the gift recipient, and no tax return filing) so long as you do not give cash or property worth more than $13,000 to any one person.  If you would like to give more than $13,000 to someone, you can use your lifetime federal gift tax exclusion amount to avoid paying federal gift tax, but you will need to file a Form

     Greetings and Happy Holidays from Greenhalgh Legal Services!  As 2011 draws to a close, we wish you and your family a most blessed Christmas and the happiest of New Years!      GREENHALGH LEGAL SERVICES NEWSLETTER GOING OUT VIA EMAIL!  Beginning January, 2012 our Greenhalgh Legal Services monthly newsletter will be sent through email to all our clients who have email addresses.  If you have not done so already, be sure to let Kris Helms know your current email address so we can include you.  We look forward to being able to communicate with you directly via this exciting medium.       Be Sure to Attend Our Client Appreciation Event in December!  On December 8, 2011, we will present our final Client Appreciation Event for 2011 at the Clarion Hotel.  Baraboo accountant Walter D. Smith will update you on all the 2011 tax law changes you need to know about to

Clients come to me for their estate planning needs for different reasons.  Some come to me in pain, meaning a loved one has just become suddenly and irrevocably disabled.  So I swing into action immediately, preparing whatever documents I can to ameliorate the situation.  If the client is alive and mentally functional, we prepare documents designed to avoid guardianship, such as financial powers of attorney, healthcare powers of attorney, living wills, and HIPAA forms preauthorizing release of medical records.  If the goal is to get the client qualified for Medicaid, we go through a set procedure of analyzing the client’s income, assets, and expenses and taking the actions needed to have the client’s long term care needs met. Other clients contact me because they see trouble coming down the road, and they seek to avoid it.  These are most of the clients I meet with for whom we prepare wills