The signing of the American Taxpayer Relief Act of 2012 (ATRA) on January 2, 2013, certainly marked a transition for wealth and estate planning professionals and their clients. Before ATRA, planning was often dominated by the volatility and uncertainty of the federal estate, lifetime gift, and generation-skipping transfer (GST) tax exemptions (referred to collectively as federal transfer tax exemptions).
As we look to the beginning of a new year, there are abundant opportunities and a few challenges - some of them familiar and others quite new.
Howard Lang elaborates on this and more in his article for Business Law Group, P.C.'s monthly newsletter, The Wealth Counselor.