Newsletter – September 01, 2010

N E W S L E T T E R     September 1, 2010   Many clients have a reason to revise their estate plans prior to January, 2011.  In 2002 the amount that could pass estate tax free was $1 Million per decedent.  This estate tax free amount in 2002 was gradually increased until the current year, when a decedent can leave unlimited assets to heirs without estate taxes.   Effective January 1, 2011, the amount that can pass estate tax free per decedent reverts back to only $1 Million and the maximum estate tax rate is fifty‑five percent (55%).  This will affect all single clients with assets of more than $1 Million and married couples with combined assets in excess of $2 Million.   The ability of Congress to pass estate tax legislation is very suspect, as their record has proven.  Unless Congress passes tax legislation that it Continue reading