Valuators help tackle newly reinstated estate tax

Description

Abstract: Succession and estate planning is a chore that business owners tend to put off. In light of the new tax laws and potential tax savings opportunities, it’s important to forge ahead with estate planning. This article briefly explains the exemption and rate changes mandated by the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, and shows how these changes affect succession planning. A sidebar explains the status of family limited partnerships (FLPs) and grantor retained annuity trusts (GRATs) under the act.