Saturday, November 9, 2013
Emilee K. Lawson Hatch (Syracuse University College of Law) recently published an article entitled, Trusts and Estates, 63 Syracuse L. Rev. 991-1006 (2013). Provided below is the introduction:
On December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (“Tax Relief Act”) into law.1The Tax Relief Act extended the Economic Growth and Tax Relief Reconciliation Act of 2001(EGTRRA), with some modifications.2 While this legislation has far-reaching consequences on various areas of law, perhaps the most considerable impact is felt within the trusts and estates community. Unless additional legislation is passed by Congress, the Tax Relief Act will only be in effect for a short time, and the tax law in effect prior to 2001 will return on January 1, 2013.3 A general overview of the Tax Relief Act’s most prominent changes are summarized below.