At Last, Permanent Wealth Transfer Tax Laws

Law360, New York (January 8, 2013, 12:48 PM EST) -- After more than a decade of uncertainty, guessing and conjecture, the United States once again has permanency with respect to the federal estate, gift and generation-skipping transfer (GST) taxes. Under the American Taxpayer Relief Act of 2012 (the “2012 Tax Act”), signed into law by President Obama on Jan. 2, 2013, the following laws are made permanent for transfers of wealth (either during life or at death) occurring after Dec. 31, 2012:

The federal estate, gift and GST exemption amounts are each made permanent at $5...
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