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Estate Tax Repeal or a Call to Update Estate Plans? |
March 9, 2004
In response to President Bush's campaign promise, Congress passed a tax bill that, among other things, repeals the federal estate and generation-skipping transfer taxes (transfer taxes). But do not count your tax savings yet. The repeal will not occur until January 1, 2010, and it will not include the federal gift tax. Moreover, the entire law, including the repeal, ceases to apply after December 31, 2010.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article 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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