2010 Tax Act Brings Important Estate Planning Changes

While much of the debate and interest regarding taxes at the end of 2010 focused on income taxes the legislation that was ultimately passed by Congress and signed by the President included important changes to the federal estate, gift and generation skipping transfer tax regimes as detailed in the first Business Counselor Blog report for the new year.

2 thoughts on “2010 Tax Act Brings Important Estate Planning Changes

  1. Counselor Online

    This change impacts various aspects of planned annual gifting,including the payment of life insurance premiums on policies that are held in an irrevocable trust.For certain clients, such as those with significant assets or closely held businesses, the increase to the Lifetime Gift Tax Exemption Amount creates an opportunity to transfer assets at little or no transfer tax costs.

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