Estate planner Howard Zaritsky has written a new treatise, “Practical Estate Planning in 2011 and 2012,” describing how the 2010 Tax Relief Act affects estate planning strategies.

The new treatise from Thomson Reuters’ WG&L brand describes how the law, enacted in December 2010, made significant revisions to the estate, gift, and generation-skipping transfer taxes by raising exemptions, lowering rates, reunifying estate and gift taxes, introducing the new portability of a deceased spouse’s unused estate tax basic exclusion amount, and offering an election out of the estate tax regime for 2010 decedents.

The treatise provides analysis of the law’s changes, strategies for the opportunities it creates, and solutions for many of the issues that will arise, illustrated by more than 200 examples, as well as advice on how to preserve the greatest flexibility to deal with the uncertain future of many key elements of estate planning.

The treatise contains a technical analysis of the estate planning-related provisions of the 2010 Tax Relief Act; along with analysis, advice, and guidance on the various opportunities and issues associated with the estate-planning provisions of the 2010 Tax Relief Act. It also provides numerous strategies that leverage opportunities created by the 2010 Tax Relief Act, illustrated in examples and given effect by sample provisions, wills, and trust instruments provided in the treatise. It includes in-depth guidance on the decision whether to elect out of the estate tax regime for estates of 2010 decedents—a decision that involves many complex income and estate tax considerations for executors and must be made, if at all, shortly after the new form is released by the IRS in 2011.

Readers will also find explanations of the many key considerations and planning opportunities in testamentary estate and GST tax planning during 2011 and 2012, including the significant impact of the new exclusion amount portability and its role in planning for use of the GST exemption. Zaritsky includes an in-depth discussion of planning for lifetime gifts and charitable giving in light of the 2010 Tax Relief Act's provisions, as well as strategies that will best utilize the provisions in effect for 2011 and 2012 in the making of such transfers. He also provides a discussion and analysis of life insurance planning and other estate planning areas of increased concern in 2011 and 2012, such as Medicaid, retirement, asset protection, business succession, and post mortem matters.

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