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Aug 1, 2011 12:00 PM
Making Two Years Last a Lifetime
Quantify the benefits of taking action now
The sweeping federal tax legislation enacted in 2001 was a boon for many, but it also created a thorny issue for estate tax planning. The law provided that tax advantages phased in over the subsequent 10 years would be eliminated at the end of that period if further legislation didn't extend them. In December 2010 — at the proverbial 11th hour — Congress did enact new gifting and estate tax legislation, with far better terms than even the most optimistic pundits could have predicted. But the legislation is temporary, providing only a two-year extension. This means that investors may face another last-minute scramble by Congress at the year-end 2012 deadline.
What are the implications of the new tax law, and, most importantly, how do we quantify the benefits of taking action now during the year-and-a-half window that's left? For many families, the planning they do during the remaining year-and-a-half window could address many of their estate planning needs for the rest of their lives. Let's explore the implications of both the temporary income tax law and the temporary estate tax law and then discuss the current low interest rates, which may well be at an inflection point.
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
E-Newsletter Signup
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