• Federal Legislation Avoids "Fiscal Cliff" for Gift and Estate Tax
  • February 20, 2013
  • Law Firm: Shipman Goodwin LLP - Hartford Office
  • After much speculation over what changes Congress would make to the estate and gift tax laws, the American Taxpayer Relief Act of 2012 (“ATRA”) delivered clarity in the transfer tax arena. Specifically, ATRA answered previously unanswered questions regarding exemption amounts, top marginal rates, and the permanency of portability. The following summary highlights these and other important transfer tax changes and the implications for our clients’ estate planning.