The American Taxpayer Relief Act of 2012 (ATRA) was signed into law on Jan. 2, 2013, making several of the Bush-era tax cuts permanent. At first glance, ATRA was considered taxpayer friendly. But upon closer examination, a minefield lurks — not because of potential estate tax but, rather, income tax.
Lindsey’s latest article examines how increased estate tax exemptions and increased income taxes have dramatically changed the focus of estate planning from estate tax minimization to income tax minimization. And, how estate planning documents should be updated to help minimize potential income tax consequences.
To learn more, download “A Lurking Federal Tax Law Minefield,” published in the May issue of the Chicago Daily Law Bulletin.