The recent American Taxpayer Relief Act and the Affordable Care Act both increased the taxes on all trusts taxed under Internal Revenue Code (IRC) Subchapter J. There are two ways to reduce the tax bite of these new acts, in New Jersey credit shelter trusts. The first involves applying IRC 678, and the second involves modifying trust Distributable Net Income. This article explores those options.
Past the Cliff: The Future of State Estate Tax Planning
New Jersey Law Journal
February 21, 2013
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