EFTA00717417.pdf

From: Amanda Kirby To: Paul Morris < Subject: July 2013 Tax Topics Date: Tue, 09 Jul 2013 19:06:09 +0000 Attachments: ju101tx13.pdf Classification: Public Please find attached the July 2013 edition of Tax Topics published by Blanche Christerson of the Deutsche Bank Asset & Wealth Management Wealth Planning Team Six months later... The 'American Taxpayer Relief Act of 2012" (ATRA, Pub. L. 112-240) was enacted just over six months ago. It made the 2001 and 2003 tax cuts permanent for most taxpayers, and brought stability to gift and estate taxes and the generation-skipping transfer tax. Now that some time has elapsed, we wanted to discuss selected planning points, particularly as they relate to the significant exclusion amount, state estate taxes and "portability." We first note, however, the Supreme Court's June 26th decision in United States v. Windsor, which held that the Defense of Marriage Act is unconstitutional in not recognizing same- sex marriages. Thus, the remarks addressed here about married couples and the marital deduction assume that this deduction is also available to same-sex married couples — although it is presently unclear if such couples are eligible for the marital deduction if they live in a state that does not recognize their same-sex marriage. Best, Amanda Kirby Associate Deutsche Bank This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA00717417