SOURCE: Impact Technologies

Impact Technologies

January 19, 2011 12:47 ET

New Year, New Estate Tax Laws: Impact Technologies' Online Estate Tax Calculator Helps Financial Advisors and Clients in 2011

CHARLOTTE, NC--(Marketwire - January 19, 2011) -  Impact Technologies Group, Inc. (Impact), a leading provider of software based financial tools to the insurance and financial services industry, has released an online calculator to help financial advisors and their clients better understand many of the new changes in the estate tax law signed on December 17, 2010, announced Maxey Sanderson, President, Impact.

The 2010 Tax Act, known as "The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010," contains a number of modifications to the prior estate tax law that financial advisors need to discuss with their clients. The most significant modifications are:

  • Unified tax credit amount equivalent to $5,000,000 
  • Unused tax credit from one spouse may be used by the surviving spouse (referred to as portability)
  • Unification of the Estate, Gift and Generation Skipping Transfer Taxes
  • Estate and gift tax rates capped at 35%

The Impact online calculator shows the effect of these changes for the next two years and compares them to a reversion in 2013.

"The changed estate tax laws have created new opportunities for advisors to work with their clients to help them understand how the changes affect their unique plans. The new calculator can be used immediately by advisors to model what the changes might mean to their clients," explained Sanderson. "This is simply one example that shows how Impact Technologies supports users with timely information and useful tools that are relevant to serving clients and growing their practices."

To access this calculator, visit www.impact-tech.com and follow the link provided. The tool is easy to use and requires minimal data input. 

Impact's comprehensive estate planning and financial planning software is used by thousands of estate and financial planning professionals nationally. For more details on Impact's Estate Tax Analysis tools see https://store.planlab.us/Products/US/index.aspx.

Contact Information

  • Impact Media Contact:
    David G. Freitag, CLU, ChFC, CRPC
    Vice President, Marketing
    704-927-3235
    Email Contact