Estate, Gift and Generation-Skipping Transfer Tax Provisions of the Tax Relief Act of 2010 or Wealth Planning Becomes More Complicated.

Estate, Gift and Generation-Skipping Transfer Tax Provisions of the Tax Relief Act of 2010 or Wealth Planning Becomes More Complicated. 
On December 17th, President Obama signed into law the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" (referred to in this e-Alert as "the Act"), which resulted from the compromises reached by the President and Republican congressional leaders involving the extension of the Bush income tax cuts and of payments to long-term unemployed persons as well as important compromises in the estate, gift, and generation-skipping transfer tax laws. The Act represents a bipartisan effort, and there is not generally complete satisfaction with all of the provisions of the Act on both sides of the aisle.  Click on http://images.jw.com/ealert/wealthplanning/2010/1222sm.html