In This Issue

Estate Planning After the American Taxpayer Relief Act – Congress adopted the American Taxpayer Relief Act (the Act), effective January 1, 2013. The Act made permanent tax rates and exemptions for estate, gift, and generation-skipping transfer (GST) taxes.

Termination of Credit Shelter Trusts – The 2012 Tax Relief Act provides an exemption from federal estate tax of $5,250,000. This exemption of $5,250,000 results in a great number of credit shelter trusts (CSTs) no longer being necessary to avoid federal estate tax on the death of the surviving spouse.

Craig Dalton, an attorney no longer with Poyner Spruill, was the original author of this newsletter.

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