Tax Update- Expiration of Favorable Gift and Estate Tax Laws

By Philip J. Siana, Joseph G. Dolan, Mary B. Goldhirsch and Jenna Z. Kessler

Significant changes in the tax laws are scheduled to take effect in 2013. The below summary highlights some of the more important changes, including modifications to the estate and gift tax laws, as well as a few tax planning strategies to consider before year end.