Congress Changes Your Estate Plan—Again!

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On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This new law brings several changes to transfer taxes for years 2010 through 2012. These changes may have a significant impact on your estate plan, and you may need to revise your estate planning documents to avoid unintended results. The changes may also affect the estate of a person who died in 2010, possibly requiring an estate tax election to obtain the maximum tax benefits.

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Published In: Wills, Trusts, & Estate Planning Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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