We often advise clients to consider any changes in their life every two to three years and determine if any adjustments need to be made to their overall estate plan to ensure that their personal and financial goals are met.  However, during these uncertain times, when clients are facing potential risks to their health and

Significant estate tax planning opportunities which are available under current legislation may be eliminated or severely restricted after December 31, 2012.  It is therefore critical to evaluate whether steps should be taken this year to maximize estate tax savings.

For the following reasons, 2012 is the year to implement tax reduction strategies:

  1. The federal law

On June 28, 2011, the Senate introduced Senate Bill 1286 (known as the Trade Adjustment Assistance Extension Act of 2011), which contains the same GRAT restrictions that were introduced in numerous bills in the House of Representatives and Senate in 2010.  The comprehensive 2010 tax act enacted in December 2010 did not include any GRAT