It was automatically repealed at year end when Congress failed to pass legislation to extend the tax into 2010. So, people are now joking that this is a good time to help multi-millionaire parents die. The tax rate was 45%. It is now 0%. Estate-tax professionals anticipate that the tax will be reinstituted but, for now, it is gone.
- 6 Important Estate Planning Considerations – Part 4: Beneficiary Designations - June 1, 2018
- Retirement: It’s not Just About the Money - May 1, 2018
- Estate-Tax “Portability” — Oasis or Mirage for Larger Estates? - March 19, 2015