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Uncharted Waters -- The "Repeal" of The Estate Tax and Your Estate Planning
by Loeb & Loeb LLP - Los Angeles Office
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February 2, 2010
Previously published on January 2010
Effective January 1, 2010, the federal estate tax and generation-skipping transfer tax have been repealed, and basis adjustments applicable to a decedent’s assets have been sharply curtailed. The federal gift tax, however, remains in effect, albeit at a lower rate (35% vs. 45%), and with the existing lifetime exemption ($1,000,000).
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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