Connecticut and Federal Tax Law Changes

In this presentation, Laura Weintraub Beck, a trusts and estates attorney in Cummings & Lockwood’s Greenwich, Connecticut office, addresses changes to the Connecticut estate and gift tax laws; the new Connecticut estate and gift tax rates; Federal gift, estate and generation-skipping transfer tax exemptions; proposed changes by the House and the Senate to Federal estate, gift and generation-skipping transfer taxes; and other proposed Federal tax changes of note.  (19:23)

Presentation Outline

 1.  Changes to Connecticut Estate and Gift Tax Laws

 2.  New Connecticut Estate and Gift Tax Rates

 3.  Inflation Adjustments - Federal Gift, Estate and Generation-Skipping Tax Exemptions

 4.  Proposed Changes to Federal Estate Gift and Generation-Skipping Transfer Taxes

      a.  House Proposal

      b.  Senate Proposal

 5.  Other Proposed Federal Tax Changes to Note

      a.  Changes to income tax brackets

      b.  Increased Standard Deduction

      c.  Repeal of AMT

      d.  Elimination of most deductions

      e.  Changes to Pass-Through Entity Tax Rates