Family Wealth Planning

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2010 Gap Year Gift Planning

November 15, 2010

The Economic Growth and Tax Relief Reconciliation Act of 2001 ("the 2001 Act") made significant changes in the transfer tax laws (estate tax, generation-skipping transfer tax, gift tax). The 2001 Act lowered transfer tax rates to 45% by 2009, increased exclusion and exemption amounts to $3.5 million by 2009, and repealed the estate tax and the generation-skipping transfer tax altogether for the single year of 2010. The gift tax was not repealed but the top gift tax rate was reduced to 35% for 2010 only.

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For more information, please contact:

Theodore Hellman

415-995-5019 Direct Phone
415-995-3439 Fax

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