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Estate Planning Implications of the Fiscal Cliff Deal

by Patterson Belknap Webb Tyler LLP - New York Office

January 17, 2013

Previously published on January 2013

After a last-minute deal to avoid the fiscal cliff was passed by Congress on January 1, 2013, President Obama signed into law the new American Taxpayer Relief Act (“ATRA 2012”) on January 2, 2013. ATRA 2012 extends indefinitely the historically large Federal gift, estate, and generation-skipping transfer (GST) tax exemptions, while introducing a modest increase in top rates for those taxes.


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