We are getting a glimpse of what our new federal estate tax system may look like. House Resolution 436 appears to be the Obama administration's approach to federal estate taxes.
I will report in more detail on this in the coming days, but here is a short summary of where we may be headed:
1. A permanent (somewhat) exemption of $3.5 million.
2. No portability between spouses.
3. A top estate tax bracket of 45%.
4. The elimination of discounts on non-operating assets.
Stay tuned, there will be more on this in the days ahead.
BECAUSE DEATH AND TAXES: Learn about what you need to do to be prepared for what's coming. Wills, trusts, taxes, probate. If you haven't experienced it you will. Estate planning is one of the most important things you can do to protect yourself and your family. Please join Bernie Greenberg's world of estate planning. www.kgattys.com
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.