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Contact Information:
Edward S. Kisscorni, CPA
290 Suncrest Court, SW
Grandville, MI 49418

Office: 616/233-0667
Cell: 616/443-6730
Fax: 616/233-0667

Blog: www.EdKisscorni.com/Blog1
Email: Ed@EdKisscorni.com
 



 



 

 Blog 
Thursday, December 30 2010

Estate Tax Rebuttable Presumption Enacted for Wills, Trusts, and Beneficiary Designations

Public Act 224 of 2010, effective December 10, 2010, which is applicable retroactive to January 1, 2010 enacts legislation that creates a rebuttable presumption that a will, trust, or beneficiary designation by a decedent who died after December 31, 2009, and before January 1, 2011, refers to the federal estate tax and federal generation-skipping transfer tax laws that apply to estates of decedents who died on December 31, 2009. The will, trust, or beneficiary designation must either contain a formula referring to any section of the Internal Revenue Code of 1986 relating to the federal estate tax or generation-skipping transfer tax or to certain specified terms or measure a share of a trust, estate, or beneficiary designation by the amount that can pass free of the federal estate tax or generation-skipping transfer tax. The presumption does not apply to a will, trust, or beneficiary designation that is executed or amended after December 31, 2009, or that displays an intent to use a different rule if the decedent dies on a date on which there is no then-applicable federal estate tax or generation-skipping transfer tax.

Posted by: Ed Kisscorni AT 10:22 am   |  Permalink   |  0 Comments  |  Email
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