Fiduciary advisors should consider family dynamics when exploring the opportunities available under the 2010 Tax Relief Act
The passage of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the 2010 Tax Relief Act) has opened an unexpected window of opportunity for the tax-exempt transfer of significantly more wealth to the next generation than was possible under prior regulations. The unification of the gift and estate tax exemptions at $5 million, allowing individuals to give up to $5 million tax-free during their life or at death, combined with lowering the tax rate on taxable ...
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