Feb 1, 2011 12:00 PM

The 2010 Act opens the door to creative planning techniques

By Douglas Moore & David A. Handler

On Dec. 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the Act). Among other things, the Act makes changes in the tax law for calendar years 2011 and 2012 that: (1) increase the applicable exclusion amount for estate and gift taxes, (2) increase the generation-skipping transfer (GST) tax exemption, (3) reduce the top estate, gift and GST tax rates to 35 percent, (4) reunify the credits against gift and estate tax, and (5) create portability of the unused estate applicable exclusion amount of a deceased spouse. These changes have long- and short-term consequences, so advisors must consider the impact of the Act when advising their clients about estate-planning strategies and decisions. Here's an overview of the changes in the gift tax laws, planning opportunities and how those opportunities may be integrated with changes in the estate and GST tax laws.

Here are the specifics of the Act:

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

2011 Trust Glossary

Click here to download the 2011 Trust Glossary

50 Years Ago This Month

Click here to read the issue.

50 years ago, in May 1962, we featured articles such as: "Future of Canadian Trusteeship" by Arthur H. Mingay", "Training Trust Employees" by Ian M. Marr, "What is a Trust Officer?" by Eric J. Brown, and "Selling Services" by Donald I. Webb.

Conrad Teitell's Guide to Tax Benefits For Charitable Gifts

Click here to view the most up to date guide (September 2011)

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