Trusts & Estates Advisory - September 2012

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As discussed in our June 2012 Trusts & Estates Advisory, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2012 (the "Act"), altered the federal estate, gift and generation-skipping transfer ("GST") tax scheme by increasing the federal gift, estate and GST-tax exemption to $5,000,000 for 2011 and $5,120,000 for 2012.