2010 Tax Act – Year End Tax Planning Alert

Dear Client, Friend, and Colleague: The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, P.L. 111-312 (“2010 Tax Act”) has been signed into law. There are a host of significant changes that will affect everyone’s estate plan. The following are urgent points that may affect your planning for the 2010 year, and may require immediate action: 1. 2010 Gift Exclusion: a. The gift exclusion remains at only $1 million for 2010. If you are married you and your spouse […]

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The New Estate Tax Law: A Tax Savings Opportunity You Should Know About and Must Complete Before December 31, 2010

Our beloved Congress and President has finally passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This Client Alert is to alert you to an incredible planning opportunity, albeit, a very short time frame. A GST Tax Rate of 0%: Any generation skipping transfer (GST) (a transfer to a grandchild or more remote descendant or another skip person [i.e., an unrelated individual more than 37 1⁄2 years younger than the donor] to such person) before 2011 will incur only a […]

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