Quote:
Originally posted by baltassoc
Intersting tidbit from the article: the estate tax hit 1.17% of estates in 2002. That was with a $1,000,000 exemption. It's now $2,000,000., so the percentage has to be even less. It'll be $3.5m in 2009, unlimited in 2010, and $650k in 2011.
Clearly, something's going to have to be done before 2010, unless we're going to retroactively name the last act setting estate taxes "The Estate Tax and 2010 Euthenasia Act."
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The $650K unified credit takes it back to where it was before the Bush Tax Giveaway Act was passed. And if you thought you were joking about the Euthanasia Act, I know for a fact that there are estate planners out there drafting advanced directives and durable powers of attorney providing that the plug is to be pulled on the client at 11:00 on December 31, 2010 if Congress hasn't repealed the sunset provision for the estate tax.
