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The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (2010 Tax Act) brought about an increase in the gift, estate and generation-skipping transfer (GST) tax exemptions to $5 million each.1 Many clients are considering creating new trusts or adding to existing trusts to take advantage of these increases.2 Some clients are also considering purchasing large amounts of insurance

Al W. King III, Pierce H. McDowell | Jun 01, 2011

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (2010 Tax Act) brought about an increase in the gift, estate and generation-skipping transfer (GST) tax exemptions to $5 million each.¹ Many clients are considering creating new trusts or adding to existing trusts to take advantage of these increases.² Some clients are also considering purchasing large amounts of insurance in trusts as a result of these increased exemptions. But with

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