Northwestern Financial Review, November 1st, 2001
If you have a sizeable estate and want to pass assets on tax free to your heirs, 2010 will be a good year to die. That's the message bankers might want to communicate to valued customers.
The tax law Congress passed last June completely eliminates the inheritance tax in 2010. In 2011, however, a tax - potentially as high as 55 percent - kicks in and a $1 million estate tax exemption goes back into place. With the new law, Congress has created a strange inheritance tax situation that makes planning all the more important. Banks should be at the forefront of planning efforts for their customers...
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