State of the States UpdatedState of the States Updated

In the April 2012 issue of Trusts & Estates, I wrote an article, “The State of the States,” which provided an overview of some new developments in state law related to estate planning. While federal law remains in flux, there’s been considerable state-level activity on a number of trust and estate-related fronts since that article appeared. With numerous legislative proposals swirling and the last legislative sessions of most states having recently ended, which proposals survived?

Here’s an update on some key planning developments across the country, through Sept. 10, 2012.  

Estate and Gift Tax 

Connecticut. This state made significant changes to its estate and gift tax laws last year, lowering the tax threshold from $3.5 million to $2 m...