The Fundamentals of Wealth Transfer Tax Planning: 2011 and Beyond

50 Pages Posted: 27 Jan 2011 Last revised: 24 Jul 2012

John A. Miller

University of Idaho College of Law

Jeffrey A. Maine

University of Maine School of Law

Date Written: January 27, 2011

Abstract

In December of 2010 Congress revived the temporarily defunct federal estate tax and the generation skipping transfer tax (GSTT) and ushered in a new era of federal wealth transfer taxation. The estate and the GST taxes had expired the previous January, making 2010 the year to die among the elderly rich. The reenactment of a revised version of the estate tax and of the GSTT makes this a propitious time to publish this article summarizing the operation of the federal wealth transfer taxes and describing the basic tax planning techniques for wealth transmission. This article is designed to bring the general practitioner into the current wealth transfer tax planning picture and provides references to more detailed treatments of particular topics within that field.

Keywords: estate tax, transfer tax, estate planning, tax planning, gift tax, generation skipping transfer tax

JEL Classification: H20

Suggested Citation

Miller, John A. and Maine, Jeffrey A., The Fundamentals of Wealth Transfer Tax Planning: 2011 and Beyond (January 27, 2011). 47 Idaho Law Review 385 (2011). Available at SSRN: https://ssrn.com/abstract=1749670

John A. Miller (Contact Author)

University of Idaho College of Law ( email )

P.O. Box 442321
Moscow, ID 83844-2321
United States
208-885-2257 (Phone)

Jeffrey A. Maine

University of Maine School of Law ( email )

246 Deering Avenue
Portland, ME 04102
United States

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