From an estate planning perspective 2010 has been a year of
uncertainty. We have been waiting for Congress to act, and last
Friday Congress did. President Obama signed the Tax Relief,
Unemployment Insurance Reauthorization, and Job Creation Act of
2010 (the "Act") on December 17, 2010. The Act, which
only covers years 2010 through 2012, contains a wide variety
of income and other tax-related provisions. Below is a brief
summary of the gift, estate and generation-skipping transfer (GST)
tax provisions followed by a few planning considerations, some of
which need to be implemented no later than December 31, 2010:
Highlights of the Gift, Estate and GST Tax Provisions
Gift Tax
