Estate Planning: April 2008 Archives
Senate Finance Committee Chairman Baucus says that his office continues to work towards achieving some certainty in reaching a bipartisan estate tax compromise. The current estate tax legislation is set to expire in the next eighteen months or so and taxpayers and practitioners are in an abyss. The general sense is that the estate tax unified credit may return to $1,000,000.00 per person or $2,000.000.00 per married couple. I know it sounds like a lot of money, but if you look at the middle and upper middle class, and include the value of their homes and any retirment monies they may have accumulated, it adds up very quickly. Stay tuned.
John M. Hanamirian
