Want to know what estate planners are thinking?
If so, check out a recent poll taken of estate planning attorneys, CPAs and advisors from all over the U.S.
I took part in the poll and agree with the majority of those polled. I believe the estate tax will return at a $1 million exemption with a 55% tax rate for every dollar thereafter. How long it stays there I am not sure about. I think Congress will pass legislation which increases the exemption. However, there is an increasing thought that Congress will do nothing at all. By doing nothing, Congress will increase their income through estate taxes. The money is desperately needed, especially due to the fact that several billionaires have passed away this year with no estate taxes being due.
To learn more about where the estate tax could go, please consult our Jacksonville estate planning attorney.
