Posts tagged Estate
Credit Shelter Trust

Prior to the enactment of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the 2010 Tax Act), a married couple generally needed to implement a credit shelter trust and, in non-community property states, divide their assets evenly between them, so that they could fully use both spouse's estate tax applicable exclusion amount (also referred to as an exemption).

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Estate Tax Changes Under Recent Tax Acts

This article summarizes the changes made to the federal gift and estate tax and the federal generation-skipping transfer (GST) tax under the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the 2010 Tax Act), the American Taxpayer Relief Act of 2012 (the 2012 Tax Act), and the Tax Cuts and Jobs Act. A chart at the end of the discussion summarizes the effects of this law.

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