Legal Developments
Increased Federal Tax Exemptions (effective January 1, 2006)
Applicable Exclusion Amount: $2,000,000
GST Exemption Amount: $2,000,000
Updated Product Features
GRAT Deferral of Annuity Payment Language Clarified
The optional provision allowing deferral of GRAT annuity payments has been revised to clarify when the 105 day deferral period allowed by Treas. Reg. §25.2702-3(b)(4) is available. Question 125.
Names of Children Now Provided as Potential Surrogates in Living Will
If you choose to name a child of the client as a surrogate in a Living Will, and have previously entered the names of the client’s children, the program will now present a list of those children as choices. New Question 1148.
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To view those questions that are new in this update, or whose Law & Strategy, choices, or default answers have changed, use the "Up_Dec05" flag file. From inside Lawgic, open any existing answer file; on the Flags menu, click Open Flags, select the appropriate Title (click OK), and next select the "Up_Dec05" flag file (and click OK). To view all flagged questions, click Expand All on the Answers menu and scroll the Navigator. Flagged questions will be indicated with bold text.
Please continue to send us your suggestions on existing or new products. Contact our Technical Support Department at 1-877-2-LAWGIC (252-9442) or e-mail us at support@lawgic.com.
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