All I Want for Christmas...

According to an article today's Seattle Times, Nordstrom is offering some Neiman Marcus-like holiday gifts this year through its online catalog. As the article says, "Nothing says 'Happy Holidays' quite like a $15,000 ethnic-print couch or a $50,000 private session with a celebrity photographer."

You, like me, may be asking who in this economy has the spare change to throw around on items like this? I'm sure someone out there does. And for the record, if any of you are thinking about buying one of these fancy items for me, I'd rather you donated the money to Seattle's Pride Foundation, or some other worthy organization in my name. (Okay, if you insist, I'll take the custom painting by artist Ruben Toledo, but I still hope you give something to charity.)

Now, in the event that you are planning to make a gift of this size, be sure to consult with your accountant or attorney! Currently, individuals are allowed to gift no more than $12,000 per year (sorry, there is no Christmas/Hanukkah/Kwanzaa exemption) to any one person. There are, of course, a multitude of creative ways around this, and consulting your tax professional is key to make certain that you don't run afoul of IRS regulations. Oh, and by the way, we do that at my firm! :)

And hey, if you are really stuck on what to give that parent, sibling, child, or good friend for Christmas, and don't want to drop $15,000 on an armoire full of Juicy Couture, get creative and give them the gift that will benefit them for the rest of their lives: an estate plan! It may not be the most romantic present they receive this year, but I'd wager it would be the most valuable.