Friday, March 18, 2011 Press Coverage of Estate Planning this Week (March 18, 2011)
Christina Benz of Morningstar holds a discussion with Deborah Jacobs on what people ought to know about the new estate tax laws passed in December 2010. Topics include spousal portability, increased exemption amounts, what to look for in older estate plans that may need updating, and gifting opportunities, among others. See Is Your Wealth Safe Under New Estate Tax Laws? (Mar. 18, 2011).
Lewis Saret of Forbes reviews the proposed changes to the estate tax laws that the Obama Administration submitted with their proposed 2012 federal budget. Major provisions include returning estate, gift and generation skipping transfer tax rates to 2009 levels, making portability permanent, requiring estate tax values and basis values to be consistent, limiting valuation discounts, and imposing a minimum 10-year term on grantor retained annuity trusts. See Obama Estate Tax Budget Proposals (Mar. 11, 2011). |