Estate, Gift & Generation-Skipping Tax Legislation Alert

December 17, 2010

Sirote & Permutt Estate Planning Department Summary of The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010

On Friday, December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the "Act"). The Act has far-reaching effects, including the extension of the Bush-era tax cuts for individuals of all income levels. This Legislation Alert focuses on the estate, gift and generation-skipping transfer ("GST") tax provisions of the Act. The transfer tax provisions of the Act are applicable through 2012.

This legislation opens the door for unprecedented gifting options to save transfer taxes for this limited two-year window.

Click here to read a summary of the provisions.

Estate, Gift & Generation-Skipping Tax Legislation Alert

Associated File

For Businesses

For Individuals