Changes to US Estate Tax

Anyone who has substantial assets in the United States, is a US citizen, or expects to inherit assets situated in the USA or which are the property of US citizens, should take note of recent changes to the US Estate Tax.

The legislation, in the form of the ‘Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010’, makes substantial changes to the US law on the transfer of wealth and has provisions which operate retrospectively and broadly reinstate taxes watered down previously.

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