Yes, we are in crisis, but only because we don’t know where we are. Technically, the Federal Estate Tax has been repealed as of January 1, 2010. However, under the current law, the Estate Tax comes back January 1, 2011 but with a lower exemption ($1,000,000) and a higher maximum tax rate (55%). It seems our government caught the entire professional estate planning community flat footed on this one because no one in their right mind anticipated that we would ever see a one year repeal of the … [Read more...] about Estate Tax Crisis of 2010
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