Six Months Remain Before Significant Tax Opportunities Expire

more+
less-

[author: Gary A. Phillips]

Over the past eighteen months, we have posted frequently to the blog about the valuable tax opportunities available to taxpayers in 2011 and 2012 in connection with gifting assets to younger generations.  We are now six months away from those opportunities expiring if Congress fails to act in 2012. 

As a further incentive to clients who are considering gifting plans, the July Applicable Federal Rate (“AFR”) has been recently released, and it continues to remain historically low.  This means that sophisticated techniques such as GRATs and sales to grantor trusts become even more advantageous to implement when planning significant transfers of wealth.

Emphasizing these valuable opportunities is not only in the hands of professional advisors; the mainstream press has taken up the cause as well.  This recent  New York Times article also describes these opportunities:

 

Written by:

Published In:

Tax

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.

© Cole Schotz | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×
Loading...
×