On December 17, 2010 President Obama signed into law "The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" (the "2010 Act"). The 2010 Act made major changes to the federal transfer tax system, which includes the estate tax, the gift tax, and the generation-skipping transfer tax (the "GST tax"). These changes will have a tremendous impact on future estate planning, and they create some critically important decisions for estates of persons who died in 2010.

To read our Alert summarizing those changes, please click here.