The current Congressional Budget Resolution includes a provision that will freeze the current estate tax exemption at current levels, allowing individuals to pass up to $3.5 million of their estate free of the estate tax. The resolution also freezes the maximum tax rate at 45%. Even if it passes, this provision expires after one year, leaving the future of the estate tax uncertain. Here's a link to a great article from Money magazine on rethinking your estate planning options, given the current economy and the uncertainty of future tax rates and exemptions.
May 22, 2009
Estate Tax Update
The current Congressional Budget Resolution includes a provision that will freeze the current estate tax exemption at current levels, allowing individuals to pass up to $3.5 million of their estate free of the estate tax. The resolution also freezes the maximum tax rate at 45%. Even if it passes, this provision expires after one year, leaving the future of the estate tax uncertain. Here's a link to a great article from Money magazine on rethinking your estate planning options, given the current economy and the uncertainty of future tax rates and exemptions. 
