New Tax Laws Preempt Existing Trusts Tax

ENCINO, Calif., Dec. 20, 2010 /PRNewswire/ -- Late Friday afternoon, Congress enacted the most sweeping change in the estate tax law in 29 years. The new law contains some good news for the very wealthy, but it also makes most estate plans obsolete. Everyone who has a living trust (family trust) should update it promptly.  

Tax lawyer and estate planning expert Robert F. Klueger notes that, "At a minimum, the new law requires every married couple who wrote an estate planning trust to have that trust reviewed, and perhaps modified. If not, many people will learn that their trust doesn't reduce their taxes but can indeed increase their tax liability."

Klueger & Stein, LLP has prepared a short video featuring Robert F. Klueger that reviews the changes to the estate tax law and how it impacts existing estate plans, with suggestions as to how these plans can be modified. The video can be viewed free of charge at http://www.maximumassetprotection.com or http://www.lataxlawyers.com.

About Robert F. Klueger, Esq.

Robert F. Klueger is a Certified Tax Law Specialist (California State Bar Board of Legal Specialization) and is AV rated by Martindale-Hubbell (highest possible rating). He is the author of numerous books and scholarly articles on asset protection and tax planning. His published books include Buying and Selling a Business (John Wiley & Sons, 1988), Mergers & Acquisitions, a Practical Guide (Executive Enterprises, 1989), and A Guide to Asset Protection (John Wiley & Sons, 1997). His latest book, Asset Protection, was published by Entrepreneur Press in May 2008. His article entitled "Practical Considerations in Asset Protection" appeared in the July 2003 issue of Los Angeles Lawyer.

Mr. Klueger is one of the very few private attorneys in America who has argued a tax case before the United States Supreme Court. Mr. Klueger is a frequent lecturer on asset protection for the California Bar Association and various other groups. A practicing attorney since 1974, he is a member of the bars of the United States Supreme Court, the United States Tax Court and the state bars of California, New York and Colorado.

For interviews with Mr. Klueger, please contact Cindy Rakowitz at [email protected].

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SOURCE Klueger & Stein, LLP