December 20th 2010
On December 17, 2010, President Obama signed into law major changes to the U.S. federal estate tax. This newsletter is for your review. These changes offer opportunities for new estate planning. We encourage you to read the following and consider reviewing your existing estate plan.
David A. Altro, Managing Partner
B.A., LL.L, J.D, D.D.N, Fin.Pl., TEP
Florida Attorney and Quebec Notary
On December 17, 2010 the U.S. House of Representatives passed the “The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010” (“The Tax Relief Act”), which reflects the agreement of congressional leaders and President Obama. This legislation has now been signed into law by the President. Some of the highlights of the Tax Relief Act are summarized below however one key feature of the Tax Relief Act is its duration; the Tax Relief Act only lasts for two years. So all of these changes are fluid and subject to further Congressional debate and future changes.