The 2010 Tax Act and the Future of Estate Tax Reform

In this 2011 FOX Financial Executives Forum presentation, the president and CEO of the Policy and Taxation Group discusses up-to-the-minute legislative developments as well as the group’s ongoing lobbying efforts on behalf of wealthy owners. 

• In the 2010 Tax Act, wealth owners won significant estate tax relief for two years with a 35% estate tax rate, a $5 million exemption indexed for inflation, reunification, spousal portability, executor election for 2010 decedents, and preservation of valuation discounts, GRATs, and state estate tax deductibility. 
• However, new dynamics on Capitol Hill may put in play some or all of the provisions of the 2010 Tax Act. The estate tax has not been part of current deficit-reduction talks but likely will be part of a political fight in 2012.