State of the Estate Tax – Beyond 2010: Uncertainty Reigns, but There’s Still Planning to Do
September 17, 2008
It’s called the estate tax, although some in the legal and accounting fields call it simply the ‘death tax.’ And there are a lot of questions surrounding this controversial federal assessment. At the moment, there is a $2 million exemption, which will rise to $3.5 million in 2009, but then, in 2010, there will be essentially no estate tax at all, an intriguing blip in time created by legislation passed in 2001 that also calls for the tax exemption to return to $1 million in 2011 unless further action is taken. While there is considerable speculation about the year 2010, and jokes about why it will be a good time to die, estate planners say the focus should be on the present — and 2011 and beyond. …
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by: George O’Brien, Hyman G. Darling, Esq. is quoted within
September 1, 2008