On December 17, 2010 the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the 2010 Tax Act) was enacted. It extends, through 2012, many tax relief provisions that were scheduled to expire as of January 1, 2011, and substantially reduces the likelihood of individuals being subject to, and under the burden of, estate, gift and generation skipping transfer (GST) taxes. The 2010 Tax Act offers important planning opportunities, but also contains potential traps for the unwary. Hahn Loeser’s Estate Planning, Wealth Transfer and Preservation practice attorneys are ready to help you take advantage of the opportunities while avoiding those traps.
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