Aug 9, 2009

Please do not plan to die in 2010 just to save estate taxes....

In 2010, there will be a short window for individuals to pass their estates tax-free to their decendents. The problem is it only lasts for 2010 and then Congress has the estate tax back on again. I do not know about you, but dying is not in my "tax planning" reportoire.

There is a great article that has been recently posted on the facts and myths about the estate tax. It is a good read to summarize the state of the estate tax.

Do me a favor, do not plan to use the estate tax provision in 2010. Death and taxes are inevitable, but doing the former to save the latter is not good for your health.

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