Seek Assistance Now with Estate Planning Before Tax Act Expires

The Tax Reform Act of 2010 (the “Act”), which was enacted December 17, 2010, made the most significant changes in rates and exemptions for the estate, gift, and generation-skipping transfer (“GST”) taxes since the last major tax reform act in 2001. The unified tax credit, or exemption amount, will roll back to $1 million from a little more than $5 million on January 1, 2013, creating a sense of urgency for physicians and others to review their estate planning options. The question now is how to benefit from the Act without giving up control and access to assets. Options include sheltering assets, particularly from creditors, liabilities, or bankruptcy while lowering estate taxes.

The NCMS and its partners can assist members explore estate planning and wealth transfer questions and options. If you would like to participate in a short educational webinar, please answer the following three-question survey so that we can determine the level of interest among our membership in estate planning issues.


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