The 2010 Tax Relief Act has resulted in significant changes to the estate and gift tax rules, providing some clarity — at least for the next two years.

The 2010 Tax Relief Act brought significant changes to the estate and gift tax rules – and an excellent opportunity for you to review your estate planning goals, and the legal documents to achieve them. The new law is complex, and the rules are only in place for two years – this year and next. SmartBusiness recently ran an article highlighting some of the more important provisions: Estate Taxes. The estate tax exemption will be $5 million ($10 for a married couple), with a maximum tax rate of 35 percent. The new law also provides a “portability” feature of the…

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